I think they are higher when you get into complex stuff like multiple inputs and outputs. But that's way above my use and understanding at the moment.
People use multiple inputs without knowing, you actually need the understanding to not use multiple inputs and save on fees when possible.
Inputs are the amount of unique UTXOs that are used in a new transaction.
- As a freelancer, client A can pay you 0.002
BTC for a job, client B pays 0.018
BTC for a different job and client C pays 0.01
BTC. All these are unique UTXOs in your wallet.
- If you want to send 0.029
BTC to a service provider, your wallet has to take all 3 inputs to make it up, which will make the transaction fee higher.
To save on fees, spend whole inputs when possible or spend from a single input and consolidate all inputs when fees are low.
Multiple outputs does not affect the fee as much as inputs does.
- Jay -
