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Crypto speculators / transaction fees.

By: Daniel Alison

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Fees are required in order to submit a transaction on the Bitcoin Network. The sat/byte fees are automatically set by the app to allow the transaction to be prioritized. Learn more about it here: Cryptocurrency Network Fees 4.9k.

Important:Changing the fees can cause your transaction to get stuck and might take longer before it gets processed. Always plan ahead so that there are no delays. All of the fees are paid to the miners and once sent there is no way to cancel a pending transaction.

Step 1. Create a TransactionOpen the BTC wallet 2.2k, then tap on Send. Put the Recipient Address and Amount. Tap on Continue. The next screen will show a summary of the transaction and the calculated fee.image imageStep

2. Access the Advanced SettingsTap the Gear at the upper right hand of the screen to access the Advanced settings. Tap on the Network Fee field, in order to adjust the fees.imageStep

3. Change the FeesImportant:Changing the fees can cause your transaction to get stuck or pending.Manually edit the Network fee to the desired fee sats/byte setting. This should be a numeric value. The app will give you a prompt about lowering the fees. Please be careful with this setting.image imageStep

4. Save your SettingsAfter putting in the desired fee, tap on Save to confirm the changes. You will notice that the fee has been reduced.

Again, this might cause issues with your transaction. Proceed at your own risk.image

Note:When this error appears, it means that the balance left on the address is low and is considered to be UTXO dust. Learn more here 2.7k.image

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Daniel Alison
Daniel Alison
Daniel is a adio news presenter with a passion for delivering compelling stories that inform and inspire. Known for a clear, engaging voice and a knack for breaking down complex topics, Daniel brings energy and insight to the airwaves. Outside the studio, He is an avid crypto enthusiast, exploring the evolving world of blockchain technology and digital assets. Whether discussing global news or the latest trends in crypto, Daniel combines curiosity and expertise to keep audiences informed and entertained.
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