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Bitcoin

On Fees

On Fees

When sending less than €1,000 of Bitcoin it’s worth paying attention to fees, but keep mind that your payment is competing with transactions that move €100,000 on equal terms. Transactions are charged per byte, not as a percentage of the amount. But willingness to pay is obviously a percentage of the amount.

It’s interesting to note that although the price has increased more than 10x over the past year, transaction amounts in BTC terms haven’t changed much:

Transaction Value Average in BTC according to tradeblock.com. Average is 9 BTC, median 8.1.

Neither have fees as a percentage, they still hover around 0.75%:

 

Fees as percentage of transaction volume in the same time period according to blockchain.info