Is Bitcoin transaction fees are decreasing?

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According to the fees chart from blockchain.info, now the average transactions while sending bitcoin is cheaper. As we already know, Bitcoin fees already reached around $25. That’s issue bring more developer to create a fork on Bitcoin to overcome that fees.

Bitcoin fees already made both investor and miners stressful. They prefer another option like Stellar Lumens or Ethereum which have low fees. These days, Ethereum is the most popular platform for ICO. Etherum fees depend on GAS price, which can we choose manually to reduce fees transaction.

Stellar Lumen (XLM) is another option for investor which have low fees for sending or withdrawal a transaction. But unfortunately, Stellar Lumens not yet widely adopted for ICO project like Ethereum. Although Bitcoin fees were expensive, there are many users still using Bitcoin for their transaction.

So, what is the main cause of Bitcoin fees become expensive? As we already know, Bitcoin is running on a blockchain which manages or processed by miners around the world. There are many computation algorithms within the blockchain which only solved by miners. Fees by a user can go to miners for their reward because of Bitcoin computation result.

With this lower fees, there is a chance that some Bitcoin Fork project will become useless. We can say that one of that Bitcoin fork is Bitcoin Cash. We can see on this chart from bitinfocharts.com, that Bitcoin Cash fees still lower than Bitcoin. Bitcoin Cash transaction fees now reached around $0.2

So, is Bitcoin transaction fees is really low now?

That question is still debatable around Bitcoin user and crypto practitioner. Someone on twitter said that Bitcoin transaction fees become lower not because of a segwit update. The main reason is that many users still not fully trading and crypto market today a little bit calm down.

In the end, we all definitely agree that Bitcoin fees should be lower. Otherwise, many investors will choose other promising coins.

Disclaimer: The Information on this website is provided for education and informational purposes only, without any express or implied warranty of any kind. Anyone wishing to invest should seek his or her own independent financial or professional advice
Vanessa is a passionate writer, diving into different subjects like travel, food, health and of course cryptocurrency and blockchain technology.

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