How to calculate bitcoin transaction size and it's fee

[ultimateclub 392]

Wow. That's the thing I am searching for many days. Now i am clear how to calculate transaction fee. I have searched a lot in search engines but couldn't got my desired answers. Thank you xbdt script for sharing this.

[alexisfuentes 2130]

For those who like to practice do the calculations for this transactions.

 

Although wallets can usually "suggest" a better rate, sometimes knowing  these calculations are of  help (     xBDT Script  ), especially if the amounts send are not very hight.

 

In the example shown, the calculations gave me less than rate paid for25k BTC.

More details :

https://www.blockchain.com/btc/tx/b53321a92835b607f94af4703fd0a576209e48f02037f187d4fe6e6443daead3

 

 

 

[Nurul Huda 944]

On 10/31/2019 at 12:24 AM, Syedbesharat said:

I do not know about this transactional formula .Now i  know about this how the transactions and fee work.I will share this to my friends and remember this formula.

Everyone must know the transactional formula with financing because to calculate such a thing first knowing the transaction then in the future you can understand how to use both small and large transactions with low and high costs must also know so that you are better later to use the transaction.

And the best thing is that you should encourage a good appreciation because you have the desire to tell your friends.

[sdsonjoy50 886]

On 10/28/2019 at 9:01 PM, xBDT Script said:

Okay let me get this idea here, I am sure a lot of us really do not know how it's done.

Transaction Size Calculation
Transaction size of bitcoin depends on the inputs and outputs of a transaction.
180 * inputs + 34 * outputs + 10 +/- 2

Imagine you have received 10 times bitcoin in an address, 0.01 each time. You want to send 0.05 BTC, how many  input do you need? It's 5 right? Then the input is 5. On the other hand, the output is on how many address you are sending the BTC. By default it's 2 because you have the change address.

So, as per the above information, your transaction size will be-
180*5 + 34*2 + 10 + 2 or - 2
= 900 + 68 + 10 + 2 or - 2
= 980 bytes or 976 bytes

This is the process.

How transaction fee, it depends on you. If you choose to pay 1 sat per byte the fee will be= 980*1 = 980 satoshi only. You can increase or decrease the fee.

Let me know if I have missed anything here.

Thank you.

I didn't know much about Bitcoin size and how Bitcoin is, but I have learned everything from you and your description of this post. I thank you very much for helping me to do this post.

[doriahailee 643]

Good tutorial mate, It's really helping newcomers to understand what is the best fee for safe transaction, Guys if you want to be more simple use some third party wallet like blockchain or coinbase it's giving you recommendation about the fee and also tx confirmation time too, Thanks for this info mate!

[Apple 202]

Should we count it manually? Is there any tool to count this transaction cost? What about if we make wrong calculation?

[guatazoo 7150]

Woah, i'm not a math guy, everytime i read your topic I get confused, these things are not for everyone, but i think i need to follow you dude.

[guatazoo 7150]

18 minutes ago, Warrior said:

I'm also trying to get this in my mind for a long but can't. It's little bit weird for me to understand I don't know how he has get this so easily

well like I said before, somethings are not for everyone t is talent and everybody has got his own, so it does not surprise me.

[Rahul21 626]

You made it easy for us here to explain the bitcoin calculation and its fees.  This is the first time I found out about it, so from now on I will calculate Bitcoin and find out about its fees.  If we find out in the middle of an app, tell us that too.

[Mamat1392 0]

 

[BitcoinTurk 207]

On 10/28/2019 at 5:01 PM, xBDT Script said:

Okay let me get this idea here, I am sure a lot of us really do not know how it's done.

Transaction Size Calculation
Transaction size of bitcoin depends on the inputs and outputs of a transaction.
180 * inputs + 34 * outputs + 10 +/- 2

Imagine you have received 10 times bitcoin in an address, 0.01 each time. You want to send 0.05 BTC, how many  input do you need? It's 5 right? Then the input is 5. On the other hand, the output is on how many address you are sending the BTC. By default it's 2 because you have the change address.

So, as per the above information, your transaction size will be-
180*5 + 34*2 + 10 + 2 or - 2
= 900 + 68 + 10 + 2 or - 2
= 980 bytes or 976 bytes

This is the process.

How transaction fee, it depends on you. If you choose to pay 1 sat per byte the fee will be= 980*1 = 980 satoshi only. You can increase or decrease the fee.

Let me know if I have missed anything here.

Thank you.

It has been a very good narrative, and I think it would be a good guide, especially for those who are researching about the ability to send money on a Bitcoin network for a low fee regardless of the amount. On the other hand, it will also be useful for those who want to calculate the ideal price and shorten the processing time before the transaction.

[Ali_hmwi 966]

I never heard about that thanks alot for this information and do they all use it or there is some changes from site or platform. 

All the best..

[kadayakito 765]

Thanks for your sharing. I am also paying attention to this. You have explained to me the transaction fees. I'll try it, because I've never charged a transaction before, I notice it now

[jacker 1095]

Well, I've been using bitcoins for a long time, but I don't really care much about calculations, because I'm calculating quite slowly. But for your share, I will pay more attention.

[Goody28 259]

On 10/28/2019 at 4:01 PM, xBDT Script said:

Okay let me get this idea here, I am sure a lot of us really do not know how it's done.

Transaction Size Calculation
Transaction size of bitcoin depends on the inputs and outputs of a transaction.
180 * inputs + 34 * outputs + 10 +/- 2

Imagine you have received 10 times bitcoin in an address, 0.01 each time. You want to send 0.05 BTC, how many  input do you need? It's 5 right? Then the input is 5. On the other hand, the output is on how many address you are sending the BTC. By default it's 2 because you have the change address.

So, as per the above information, your transaction size will be-
180*5 + 34*2 + 10 + 2 or - 2
= 900 + 68 + 10 + 2 or - 2
= 980 bytes or 976 bytes

This is the process.

How transaction fee, it depends on you. If you choose to pay 1 sat per byte the fee will be= 980*1 = 980 satoshi only. You can increase or decrease the fee.

Let me know if I have missed anything here.

Thank you.

What can I say you really did a great job here informing the newbies on how to calculate transactions size and it's fee thanks in a million

[Fleur de Bleau 168]

Actually i don't have any knowledge about this transaction fee.  And thanks for this because now i have some knowledge to add in my brain thanks! 

[Opinder 1310]

On 10/28/2019 at 8:31 PM, xBDT Script said:

Okay let me get this idea here, I am sure a lot of us really do not know how it's done.

Transaction Size Calculation
Transaction size of bitcoin depends on the inputs and outputs of a transaction.
180 * inputs + 34 * outputs + 10 +/- 2

Imagine you have received 10 times bitcoin in an address, 0.01 each time. You want to send 0.05 BTC, how many  input do you need? It's 5 right? Then the input is 5. On the other hand, the output is on how many address you are sending the BTC. By default it's 2 because you have the change address.

So, as per the above information, your transaction size will be-
180*5 + 34*2 + 10 + 2 or - 2
= 900 + 68 + 10 + 2 or - 2
= 980 bytes or 976 bytes

This is the process.

How transaction fee, it depends on you. If you choose to pay 1 sat per byte the fee will be= 980*1 = 980 satoshi only. You can increase or decrease the fee.

Let me know if I have missed anything here.

Thank you.

You said we can increase or decrease the fee. But if we decrease the fee our transaction speed would be very low. And it has benefit that if you want quick transfer of btc then you can do this with paying more fee for that which is only available in crypto world.

[Yanadia 1517]

On 10/28/2019 at 10:01 PM, xBDT Script said:

Okay let me get this idea here, I am sure a lot of us really do not know how it's done.

Transaction Size Calculation
Transaction size of bitcoin depends on the inputs and outputs of a transaction.
180 * inputs + 34 * outputs + 10 +/- 2

Imagine you have received 10 times bitcoin in an address, 0.01 each time. You want to send 0.05 BTC, how many  input do you need? It's 5 right? Then the input is 5. On the other hand, the output is on how many address you are sending the BTC. By default it's 2 because you have the change address.

So, as per the above information, your transaction size will be-
180*5 + 34*2 + 10 + 2 or - 2
= 900 + 68 + 10 + 2 or - 2
= 980 bytes or 976 bytes

This is the process.

How transaction fee, it depends on you. If you choose to pay 1 sat per byte the fee will be= 980*1 = 980 satoshi only. You can increase or decrease the fee.

Let me know if I have missed anything here.

Thank you.

Trully this what i need to know till to day i still dont know how to calculated Bitcoin fee transaction all i know peoples saying ita expencived . Now i see and the fee stiĺl noy enought for me to do transaction whit BTC than i still prefer doing trade to Altcoins to made some transaction whit my sathosi. Thx buddy i just note your formula to my diary plan book for remind me everytime. Good sharing .

[khan22 3478]

On 10/28/2019 at 8:01 PM, xBDT Script said:

Okay let me get this idea here, I am sure a lot of us really do not know how it's done.

Transaction Size Calculation
Transaction size of bitcoin depends on the inputs and outputs of a transaction.
180 * inputs + 34 * outputs + 10 +/- 2

Imagine you have received 10 times bitcoin in an address, 0.01 each time. You want to send 0.05 BTC, how many  input do you need? It's 5 right? Then the input is 5. On the other hand, the output is on how many address you are sending the BTC. By default it's 2 because you have the change address.

So, as per the above information, your transaction size will be-
180*5 + 34*2 + 10 + 2 or - 2
= 900 + 68 + 10 + 2 or - 2
= 980 bytes or 976 bytes

This is the process.

How transaction fee, it depends on you. If you choose to pay 1 sat per byte the fee will be= 980*1 = 980 satoshi only. You can increase or decrease the fee.

Let me know if I have missed anything here.

Thank you.

You make  great formula to calculate the BTC and also the transaction size in the market, Crypto is the best and good market in the world and this so much trusted and good and we can change our life in this market soon.

[Shaza Ahmad 1682]

Thank you, but I didn't get a proper understanding of how the process was done, could you please explain how the fees in the network are calculated in another way.

[xBDT Script 4371]

18 minutes ago, Sahil gupta said:

Hello my dear friend. Thank you so much for sharing this valuable information here in forum with us. I usually convert my BTC into LTC or XRP to reduce the transfer fee.

I am sure you are talking about exchanges.  It's not always the right thing to do. You need your own wallet for your coins. Any exchange can get hacked.

[Fedor00 74]

I don't think you have to calculate yourself all of this stuff because I know that wallets automatically calculate all of this. And also you can set the fee manually 

[Honny143 13612]

Today I see really good information post previously I don't no how the transaction made,but your post clear so many doughts in my mind ,one crypto transaction made this type mathematics codes runs in block chain technology, your mathematics calculation is quite interesting keep it up and post like this topics.

[Upright 2688]

This is obviously a relevant post there, as basically I use eallts which the price of transaction fees is determined by the wallet either being a decentralized or centralized wallet. But much inform has being gotten from such Post

[bentayebsalah 2280]

We do not have to do all of these calculations to know transaction fees and because that is already in the platforms and the wallet