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How to calculate transaction fees in Bitcoin?

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No doubt Bitcoin is a very old coin in internet and also it has lots of users and that why we are facing problem of confirmation issue .

Usually we need more time to wait for small amount of fee .

So here we will tell about transaction fees system in Bitcoin and also in another coin .

And also we will tell how to calculate fee to confirm Bitcoin transaction very fast.

Dependency factor of transaction fee 

Transaction fee in a transaction totally independent of the transaction amount of Bitcoin .

It means no matter whether you want to transfer 1 Satoshi or 1 bitcoin, fees will be the same.

And it will depend upon number of input and outputs of the particular transaction.

Understand this thing by example.

Suppose you have 1 Bitcoin in your wallet. Now first calculate the numbers of the incoming transaction from where you got this amount of Bitcoin. Now calculate the numbers of outgoing transaction.

Suppose you received 1 Bitcoin from 4 people and want to transfer this 1 Bitcoin to 1 person .

Then total input and output is  4+1 = 5 

So whole transaction fees will depend upon inputs and outputs, if you have less numbers of input and output of the transaction then you will need to pay less amount of fee and vice versa.

How to calculate transaction fees?

To calculate transaction fees fast or slow according to your need.

You can visit at the link tab below

At this link you need to fill the time period range in which you want to confirm your transaction.

And in second box select the type of wallet legacy of segwit.

You will get the expected transaction fees that you need to pay during the transaction.

In segwit you need to pay less fees then in segwit, to know more about check our article of type of bitcoin address and significance.

What to do if transaction got stuck in blockchain?

There are many factors which are responsible for a transaction get stuck.

Main reason are low transaction fees and high traffic of transaction at a time.

If your transaction get stuck then you can visit at 

Simple paste your transaction and submit.

You will see result within few minutes or sometimes hour because of high traffic.

IF YOU GUYS FIND THIS ARTICLE HELPFUL IN ANY WAY THEN DON’T FORGET TO SHARE WITH YOUR FRIENDS AND ALSO DON’T FORGET TO SUBSCRIBE OUR BLOG FOR MORE NEW NEW EDUCATION AND UPDATES IN THIS FIELD OF CRYPTOCURRENCY IN SIMPLE AND EASY LANGUAGE.

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