In Bitcoin, the high fee situation has led many to develop tools that allow anyone to choose the best times to send transactions. This is very useful, by the way, because Bitcoin was the first crypto to suffer from this problem.
So the community responded to a need of the community itself, as it always was. With that in mind, here are some of these tools that we recommend to make it easier for you to choose the right commission for your Bitcoin transaction.
Related: Bitcoin Transaction Fees Up 800% In A Month
L.The Mempool Space website is one of the easiest resources to find out how transaction fees are going in Bitcoin and it will help you choose the right commission for your transaction.
It is a very simple website where the first thing we see is a “band of blocks” that represents the Bitcoin blockchain. This band is divided into two parts by a white line. This helps us differentiate the created blocks (right) and the blocks that are still to come and whose transactions are still in the mempool (left).
Within these blocks all necessary information about commissions. The first thing they show us is the average commission (with the symbol “~”) of this block and that it would be the “fair commission” that will go into that block. This information is displayed for both generated and non-generated blocks. And at that last point, that’s where it is. The interesting thing because we can use this approximate value on the non-generated blocks side to select our commission and pay the fair for our transaction.
All you have to do is check how long you are willing to wait for confirmation and choose the commission that suits you best. Generally, these commissions are in the hundreds of satoshi / bytes during times of congestion. But by the way, the commissions are as low as 3 satoshis / bytes and we can say that they are practically free.
The Bitcoinfees website is an old acquaintance in Bitcoin that will help you choose the right commission. Basically, Bitcoinfees is a long list of commissions within the network, along with a bar graph that shows the number of transactions in existence at that level and next to the number of approximate minutes you should approximately wait for your transaction to complete. n be confirmed at a certain commission level.
The data shown on the web is an approximation taken every 3 hours due to a network outage. Because of this, the predictions are not very accurate. However, they are many times more useful than the automatic commissions found on many Bitcoin wallets, where commissions often become meaningless.
Another simple website that can help you choose the best fee for your transaction is BTC Network. It’s pretty easy to use. Select the number of minutes you want to wait for your transaction to be confirmed. the price of the commission to be paid.
This estimator takes into account the average fee paid the last 100 blocks within the network. Because of this, their values can vary at different times of the day.
If you are more of those who live on Twitter and know the community from that social network, this is the account @ Broadcastnow1 is perfect for you. This Twitter account will let you know the best time to send your Bitcoin transfer with the lowest possible fees.
Its warning signals are activated when the network is on. can receive transactions for 10 satoshis / bytes. This means you’ll pay anywhere from 5 to 20 times less than usual by following their signals to send transactions.