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I’m scratching my head after reading this. Bitcoin doesn’t have “gas fees”. That’s an Ethereum thing (the term and the fee being very high). I’ve read online th
by AnonC 4y ago
I’m scratching my head after reading this. Bitcoin doesn’t have “gas fees”. That’s an Ethereum thing (the term and the fee being very high). I’ve read online that Bitcoin transaction fees are in cents. Perhaps someone more knowledgeable can confirm how it is nowadays.
- devoutsalsa 4y agoBitcoin transaction fees can get high on a busy day if you pay to get your transaction faster consideration. Paying the standard amount will usually work, but it can sometimes take hours for the transfer to complete, which is suboptimal if you’re trying to pay for something that only guarantees the price in Bitcoin for a certain period of time. That is been my personal experience anyway.
- babypuncher 4y agoThe fee is based on transaction volume. At it's height bitcoin transaction fees hit $62 last year. Right now it's down to $1.60.
- caconym_ 4y agoI prefer to call them "transaction fees" myself. I believe that's what "gas" refers to; people apparently call it "gas" these days so I have adopted that terminology so that everybody knows what I'm talking about. IIUC Bitcoin, Ethereum, and other PoW-based crypto "coins" all require transaction fees to function, so that's what I'm referring to, regardless of what people associated with any particular "coin" choose to call them.