How to calculate bitcoin transaction size and it's fee

[tienda 8776]

Thank you for sharing this explanation about how to calculate Bitcoin transaction size I found this interesting, useful and helpful for many members here, I have many times on this adventure of cryptocurrency but this is the first time I heard about this calculation.

[magd 5231]

It is a little complicated process and I did not use this method to calculate the volume of transactions at all, but in my opinion it is much better than ignorance as we were able to calculate all the steps that we have taken and see if there are any hidden procedures outside the trader's will

[Thekingcallme 1975]

Through this equation, the fees for the free and independent portfolios can be calculated and not online wallets because you do not control the fees there

[alexxx2004 18]

You as Bitcoin users should know about the costs of Bitcoin transactions. The size of the transaction costs is what will determine how quickly the transaction is confirmed. So you as a bitcoin user must know about the total cost of bitcoin transactions. This is the total cost you pay for a transaction, such as 10,000 satoshis or 0,0001 bitcoins. This is certainly very important for users who care about the costs associated with their specific transactions.

[Moaz 7239]

Thank you, my friend, for sharing with us this information that many members of the forum, myself included, do not know. It is a really useful topic, but I think that the most important thing in Bitcoin transaction is to pay the fees in order to get confirmation of your transaction as soon as possible.

[Jeje17 101]

So it goes without saying that we raise the price of the transaction in order for us to be treated quickly.  And if we were conducting a transaction and being patient with it a little, we could reduce the fees. It helped me obtain information that I had not heard about before.  Thank you and also thanks to the wonderful forum crypto talk.  Which brought us together with distinguished members.  We all need this information.

[Pranto1 40]

All about your interest to learn different technical things of n cryptocurrency.  I spent a lot of time again when I first discovered Bitcoin..

[JanBomCrypto 494]

I do not think I have to disturb my Del about this, I can use my wallet to edit my fee and use the amount I want. Everything will be well calculated on my wallet its el automatically. But tho will be good for those the want to know about how the bitcoin fee is calculated. 

[yonkii 3205]

So does this mean that the more transactions an address is making in and out it will be more the bytes of the address and more the fees? If I am mistaken please someone explain, I would love to learn about this correctly.

[Tom Brandon 226]

Thanks for sharing a very informative topics with us.From this topic we can learn how to calculate bitcoin transaction fees.I can learn it from this topics.This is very useful for us.

[Sykkuno 2887]

Thanks a lot, this was very useful technical information that I didn't know about. I still didn't understand exactly how this works but it makes some sense that there is an explanation about the size of the transaction and the calculation of fees.

[percare 3192]

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

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.

Why is input needed 5? There was no explanation about that. Anyway the rest was understandable and I have to thank you for the kind explanation. I would like some more clarity on the input and what it is exactly.

[Nezar 7169]

Frankly, I did not know anything about this matter and about these equations, but through this post I understood everything. Thank you for my friend's efforts. I hope to see more of your topics.

[Amrutha 4]

It's simple all you gotta do is work out the size of your transaction in bytes , multiply it by the median byte size, take the answer in satoshis , divide it by 100 million ( or 1e8 on a scientific calculator) get the answer in Bitcoin and then covert to USD

 

Edited November 21, 2020 by Amrutha

[kryptonick 2659]

Seems to much to remember but the methodology is as I have read it before. It is good to have a technical post like this one in the forum. We need some more of these and while I have not taken notes all these years I am reading they are important.

[Michailma 637]

Thanks alot for this useful post and indeed you have explain much more about this topic and i will read members comments here to understand better for my self

[JanBomCrypto 494]

On 11/12/2020 at 11:52 AM, Milii3 said:

I also don't know anything about bitcoin free but I think if I go to withdraw bitcoin from any place it seems very dangerous for me because a lot of money is spent on my beech which is too big for me

@Milii3 Did you mean if you want to make bitcoin transaction, you will have to pay high amount of money? Maybe you are using custodial wallets, I have been using noncustodial and I have no complain because I can manually edit my fee and type in the one in want but which can take longer time.