How does the sat/byte fee affect the confirmation time of Bitcoin transactions?

1 answers

• minnu ldrJul 10, 2021 · 4 years ago
  At BYDFi, we understand the importance of the sat/byte fee in Bitcoin transactions. The fee directly affects the confirmation time, as miners prioritize transactions with higher fees. When you send a Bitcoin transaction, it's crucial to set a competitive fee to ensure timely confirmation. However, it's also important to consider the current network congestion and set a fee that is reasonable. Setting an excessively high fee may result in unnecessary costs, while setting a low fee may lead to longer confirmation times. Our platform provides users with fee estimation tools to help them make informed decisions and optimize their transaction fees for faster confirmations.
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