I had 2 transactions for the same amount of 0.0021 btc sent out to two different btc addresses and the transaction fees were 0.0048 btc for each of the transactions. Is this normal? Is there any way to get my funds back on these fees because this is just ridiculous. I am fairly new to using btc so I was unaware of the 3 different sending price ranges usually offered, I can assure you I have never sent any other way but normal. so that leaves me even more puzzled, that my fees could have actually been a lot higher. This just doesn't sound right to me. Am I missing something?
1
-
Did your transaction have a lot of inputs?– Murch ♦May 26 at 12:13
Add a comment
|
1 Answer
It isn't normal to have fees exceed the value of the amount being sent. However it is up to the sender to choose the fee, no-one else. Whichever wallet you are using may have ways to suggest fees and different ways to specify fee levels - it is up to you to make sure that you choose a fee you feel is appropriate for the transaction and that will get the transaction confirmed in a timescale that is acceptable to you.
There is no way to claim back transaction fees. Confirmed Bitcoin transactions can't be undone, reversed or picked apart.
There are cheaper ways to make Bitcoin transactions by using something like the Lightning Network - which can make a series of transactions at low cost off-chain and eventually record the final overall change of balance on the Bitcoin blockchain. But if you are fairly new to Bitcoin, you should probably take your time to thoroughly understand these off-chain systems before using them.
answered May 26 at 9:36
