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    Author Topic: How do if the Bitcoin Sending Fee will be super high or super low?  (Read 763 times)
    o_e_l_e_o
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    March 28, 2019, 09:25:49 AM
     #41

    I simply just want to make a purchase of 128$ U.S. but I obviously need more than 128$ U.S. in my Bitcoin Account since I need to pay the Fees which I was hoping there was some way to get a rough estimate of what it might be so I can simply just send a bit more than what it should be roughly so that way I got enough in my wallet before sending the money so I don't have to send to Transactions due to my first one being not enough to cover the fees?
    An extra dollar is almost certainly going to be more than enough.

    With bitcoin, your coins are stored as unspent transaction outputs (UTXOs). The final balance of your address is the sum of all your UTXOs. You could have a balance of $128 made up of one UTXO worth $128, or of 50 UTXOs of various values, or even of 1000 UTXOs each worth a few cents. Each UTXO you have to use to make a transaction counts as an "input", and each input incurs an additional fee. Transferring a single UTXO worth $128 will cost very little in fees, but transferring 1000 UTXOs worth a combined total of $128 will cost much, much more.

    The way you have phrased it makes me think you going to make a single purchase of $128 and then transfer that to another address. If that is the case, the $128 will be a single UTXO and the fees will be very small. If that's the case, at current recommended fees of 3 sats/byte, you would end up needing somewhere around $0.05 (5 cents) to cover the fee.
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