For example, how much would the fee be to send $350 to someone? The person is trying to tell me it would cost $270 for 225 bytes
The Bitcoin transaction fee depends on :
- The size of the transaction
- The current feerate
The transaction fee in $ depends in addition on the price of a bitcoin in dollar.
Simply put, the size of the transaction basically depends on the number of time you received bitcoins in the past (if you want to send 350$ the transaction size will be higher if you received a hundred times 3.5$ than if you received ten times 35$). This is the number of inputs of the transaction.
The feerate depends on the current demand for block space.
The bytes were 225
The current price of a bitcoin in dollars is about 8800$ / btc.
This transaction would cost you about
0.042$ (to be confirmed in the next ten blocks).
>>> 0.00002121 * 225 * 8800 / 1000 0.04199579999999999