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Litecoin Transaction Fee Vs Bitcoin

Does Exodus Have Fees To Send Or Receive?

Does Exodus Have Fees To Send Or Receive?

Does Exodus have fees to send or receive? The use of any digital asset network ( Bitcoin, Ethereum, etc. ) requires a small fee to send a transaction. This fee does not go to Exodus, but is paid to the network to ensure transactions are delivered reliably and quickly. Digital asset networks require a small fee to make it hard for any one user to flood the network with junk transactions causing others to have to wait. If sending transactions were free, one bad user could damage the network speed and reliability for everyone. Each small fee users pay to send transactions goes back to the network to help incentivizea secure network. Popular networks are crowded and thus more expensive. Today, Bitcoin is the most popular network and has the highest fees of any digital asset supported by Exodus. Bitcoin fees are calculated on the amount of traffic the network currently has and the size in bytes of the transaction. Keep in mind thesefees are not based on the amount of Bitcoin transacted - This is a common misconception carried over from the traditional fiat banking industry. A transaction's size is dictated by the number of inputs and outputs. The more inputs you have, the more expensive the transaction. One of the easiest ways to think about this is with change and dollars. One dollar is the same as 100 pennies, however, it requires more work to count 100 pennies and give it to someone for payment than it does to hand over a one dollar bill. Alice receives 0.01 bitcoins every day for 100 days. Bob receives a payment of 1 bitcoin once. Both Alice and Bob now have a 1 bitcoin balance. If Alice and Bob now try to send 1 bitcoin, Alice will have a much larger fee than Bob. This is because the bitcoin network has to do a lot more work for Alice to bundle all of her small change Continue reading >>

Will Bitcoin's Lightning Network Kill Off Altcoins Focused On Cheap Transactions?

Will Bitcoin's Lightning Network Kill Off Altcoins Focused On Cheap Transactions?

Will Bitcoin's Lightning Network Kill Off Altcoins Focused On Cheap Transactions? {{article.article.images.featured.caption}} Opinions expressed by Forbes Contributors are their own. The author is a Forbes contributor. The opinions expressed are those of the writer. This story appears in the {{article.article.magazine.pretty_date}} issue of {{article.article.magazine.pubName}}. {{article.article.magazine.subscription_text}} Lightning flashes over Munich, southern Germany, on June 26, 2017. (MARCEL KUSCH/AFP/Getty Images) The transaction fees on the Bitcoin network have skyrocketed to new all-time highs of over $30 in the past couple of months, which has led some to suggest that there could now be an opening for a cheaper, less congested alternative to the worlds most popular cryptocurrency. Although on-chain transaction fees have priced some types of payments out of Bitcoin completely, various solutions to this issue are currently in development, with the Lightning Network being perhaps the most promising option. The Lightning Network is a system of smart contracts built on top of the base Bitcoin blockchain that allows for fast, cheap payments directly between two parties. On a technical level, the Lightning Network is built on payment channels, which were envisioned by Bitcoin creator Satoshi Nakamoto in the early days of the projects development. The basic idea here is that two people put some bitcoin into a multisig address and then sign transactions that alter the amount of bitcoin each party is able to redeem. The payment channel can be closed by either party at any time, and the last-signed transaction with the most up-to-date balances for both parties is the one that will be broadcasted and included in the Bitcoin blockchain. From a less-technical perspective, Continue reading >>

Litecoins High Transaction Fees, Unconfirmed Transactions, And Indicators Of Its Growing Economicvalue

Litecoins High Transaction Fees, Unconfirmed Transactions, And Indicators Of Its Growing Economicvalue

Call me E for short. I write on upcoming cryptotrends. Follow me: @ecurrencyhodler @theliteschool www.theliteschool.com Litecoins High Transaction Fees, Unconfirmed Transactions, and Indicators of Its Growing EconomicValue Today, there have been various reports of high Litecoin transaction fees and long confirmation times. Heres a screenshot from r/litecoin today: Now there is some FUD (Fear, Uncertainty, Doubt) that this is an attack on Litecoin. However, this is unlikely because most transactions have been proportionate to their fees. In other words, you dont see 0.0001 LTC transactions with a 0.001 LTC fee. Instead, it is more likely that the Litecoin ecosystem is simply growing. People input high transaction fees to ensure that their transactions got through As LTC blocks were getting fuller, people started inputting higher transaction fees so that their transactions would go through ahead of others. Wallets first were sending standard Litecoin transaction fees which then became considered low transaction fees comparative to these higher ones. In light of this, they were pushed to the bottom of the miners list of transactions to process. However, wallets with dynamic fees caught on to the trend and started increasing their own transaction fee so that their customers/users transactions would go through. This is what caused the overall spike in Litecoin transaction fees today. Why Has My Transaction Been Pending ForHours? To properly understand whats happening, lets take a look at a snapshot of the blocks earlier today. Ive color-coded various miners/miningpools to help better understand whats happening: At first glance, the range of block sizes from 49kb-999kb might be jarring. But the consistency of blocksizes, relative to the miners who are blocking them, should t Continue reading >>

5 Reasons Why The Litecoin Price Is Going Up So Fast. Will The Ltc Surge Continue?

5 Reasons Why The Litecoin Price Is Going Up So Fast. Will The Ltc Surge Continue?

5 Reasons Why The Litecoin Price Is Going Up So Fast. Will The LTC Surge Continue? The LTC price is wayhigher than it was last weekheres why. Over the past week, Litecoin has experienced unprecedented growthlogging a 333 percent increase in just five days, including a 9-hour 38 percent increase starting Thursday night (PST), another 29 percent jump on Sunday , and a 73 percent bull run Monday night . As of this writing, the price is $321.20 ( CoinMarketCap ). Butamid all this insane growth, many are left wondering, whats causing it?Here are five reasons. Cboe launched bitcoin futures trading on Dec. 10, causinga spike in Bitcoin prices and CME plans to launch its own bitcoin futures trading in five days (on Dec. 18).Charles Bovaird has noted thatLitecoins behavior tends tohavea directly proportional relationship toBitcoins. In this case, there are two possible ways Bitcoin might be positively impacting Litecoin: Increasedactivity in Bitcoin, due in part to futures trading, is trickling down to Litecoin and other cryptocurrencies. The increased Bitcoin activity is driving up transaction fees and clogging the network, potentially sending users in the direction of Litecoin. Especially as network speeds lag and transaction fees soar on Bitcoin, Litecoin may bean appealing trading alternative with its faster speeds and lower transaction costs. Coinbase, thepopular cryptocurrency brokerage, is adding around 100,000 new users per day , recently surpassing YouTube as the #1 app on the Apple App Store . Coinbase only supports three cryptocurrencies:Bitcoin, Ethereum, and Litecoin. As mentioned, the positive relationship between BTC and LTC might be playing in the latters advantagedrawing fresh eyeballs to the most popular crypto exchange on the planet. Many of these usersalso a Continue reading >>

Coinbase 101: Fees & Fine Print You Need To Know Before Trading Bitcoins & Other Cryptocurrencies

Coinbase 101: Fees & Fine Print You Need To Know Before Trading Bitcoins & Other Cryptocurrencies

Coinbase is the primary go-to for many users when it comes to investing in Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), and Litecoin (LTC) due to its user-friendly interface. But before you join them, know that this ease of use comes with a price. Coinbase charges fees for each transaction, and your bank might even add fees on top of that. Plus, there is some fine print to be aware of. Though its user agreement may be easy enough to understand through careful reading, the fees charged by Coinbase for transactions can be a little confusing. And then there are imposed limits to be aware of, as well as regulations and important details that are not explained in the user agreement. Understanding these fees, important terms, and hidden details are very important in order to minimize unpleasant surprises as you buy and sell digital cryptocurrencies. So, we decided to delve into it a little deeper to make it easier to grasp, so you know everything you need to know before opening a Coinbase account on your smartphone. Don't Miss: The Best Bitcoin Wallet Apps for Your Android Device By far, the biggest reason for Coinbase's rise to prominence is its accessibility. As one of the handful of bitcoin wallet apps that's available for both iOS and Android, Coinbase has high ratings from users of both platforms due to is reliability and intuitive interface. Coinbase is free to install, so give it a try if you hadn't already done so and see if this wallet is right for you. It's important to note that the fees and other details listed below are for US-based transactions, which are subject to change at any time and may vary state by state. Fees for Buying & Selling Cryptocurrencies As far as fees go, Coinbase charges a small price for both buying and selling in a combination of bot Continue reading >>

Litecoin Versus Bitcoin

Litecoin Versus Bitcoin

Bitcoin is considered to be digital gold to many investors whereas Litecoin is considered digital silver. Several technical and marketing advantages of Litecoin are explained. Bitcoin has gone up 1,300% in one year whereas Litecoin is up 2,400%. Bitcoin is getting all the attention these days. But, there are many alternatives to Bitcoin if you're looking to put money into a cryptocurrency. I won't make you wait; I'm going to be talking about Litecoin. This will be fun. But first, I'm going to start with a couple of assumptions. Assumption #1 - You're interested in Bitcoin and cryptocurrencies but you feel like you've missed out. Is there another potential speculation opportunity? Assumption #2 - You're willing to accept that any alternative to Bitcoin could be even more volatile, unstable and mysterious. Or, maybe some alternatives just aren't as well understood by the market providing an opportunity. Litecoin is a peer-to-peer Internet currency that enables instant, near-zero cost payments to anyone in the world. Litecoin is an open source, global payment network that is fully decentralized without any central authorities. Mathematics secures the network and empowers individuals to control their own finances. Litecoin features faster transaction confirmation times and improved storage efficiency than the leading math-based currency. With substantial industry support, trade volume and liquidity, Litecoin is a proven medium of commerce complementary to Bitcoin. Here's a quick visual for you that provides a rough-and-ready comparison to the better known Bitcoin: How is Litecoin better than Bitcoin? First, Litecoin has cheaper transaction fees. It's a few pennies with Litecoin and $5-6 per transaction with Bitcoin. That makes Litecoin significantly more cost effective tha Continue reading >>

Cryptocurrency Fees And Litecoin Soft Fork

Cryptocurrency Fees And Litecoin Soft Fork

Cryptocurrency Fees and Litecoin Soft Fork Are you overpaying in Bitcoin transaction fees? Are you underpaying and stuck in the mempool? Do you trust your wallet or exchange to choose the optimal transaction fee for you?In this article, well analyze how wallets determine cryptocurrency fees and discuss a Litecoin soft fork proposal to create a competitive and open fee market. When Bitcoin first started, there were no fees to send your coins. The blocks were not full and the block reward was a sufficient financial incentive for people to become miners. Satoshi Nakamoto said, I dont anticipate that fees will be needed anytime soon, but if it becomes too burdensome to run a node, it is possible to run a node that only processes transactions that include a transaction fee. In todays world, with increasing transaction volume and limited space per block, you must pay a fee to incentivize miners to choose your transaction over others. Here is a look at the average Bitcoin transaction fees over the last 6 months. You can have an SPV (simple payment verification) client, such as a web wallet, estimate the fee for you based on the number of transactions currently sitting in the mempool. These dynamic fees work similarly to Uber. The greater the demand on the network, the more the price surges. While Litecoin also has limited block space, the blocks are generated every 2.5 minutes instead of Bitcoins slower time of 10 minutes. This allows for a tradeoff between speed and security. The Bitcoin Cash community argues that increasing the block size will solve the transaction fee problem, but there are potential drawbacks to larger blocks such as miner centralization. You can also analyze the transaction volumes and mempool yourself. But be careful, manually selecting a transaction fe Continue reading >>

Bitcoin Cash Transaction Fees Are More Expensive Than Ethereums Already

Bitcoin Cash Transaction Fees Are More Expensive Than Ethereums Already

Bitcoin Cash Transaction Fees are More Expensive Than Ethereums Already The term Flippening is thrown around quite loosely as of late. Many people expect Bitcoin Cash to overtake Ethereum by market cap and remain in that position The earlier attempt got rejected and the BCH price crashed pretty hard as a result. To make matters worse, the BCH fees are higher than the Ethereum fees right now. An interesting development, to say the very least. Litecoin still remains a cheaper option than both. Transaction fees are critical to any cryptocurrency ecosystem. If the costs are too high to send transactions, users will look for alternatives. Bitcoin Cash is clearly cheaper than Bitcoin right now. However, that doesnt mean BCH is better than other currencies by definition. In fact, it is the more expensive altcoin when compared to Ethereum and Litecoin right now. This is another interesting flippening aspect, to say the very least. Bitcoin Cash Transactions get More Expensive With the BCH fees outweighing those of Ethereum, an interesting situation is created. One has to acknowledge ETH fees have been pretty high over the past few months in comparison. With more transactions on the Bitcoin Cash network right now, this unfavorable change was only a matter of time. Considering how the blocks arent even full yet, that is pretty worrisome. Things will only grow worse from here on out, that much is rather evident. Although the difference between BCH and ETH in fees is small, it is significant. How this situation will evolve in the coming weeks, remains to be determined. According to Bitinfocharts , the average ETH fee is now $0.181. Bitcoin Cash, on the other hand, has a cost of $0.2. Both are a lot lower compared to Bitcoin, which is only to be expected. However, it shows Bitcoin C Continue reading >>

Litecoin Vs. Bitcoin | Digital Trends

Litecoin Vs. Bitcoin | Digital Trends

Posted on February 4, 2018 - 6:00AM 2.4.18 - 6:00AM Although Bitcoin remains the flagship cryptocurrency to many, that hasnt stopped hundreds of developers from releasing hundreds of alternative coins over the years. One of the first to hit the scene was Litecoin in 2011, making it one of the oldest altcoins and a powerful cryptocurrency in its own right, with a market worth billions. But what if you pit Litecoin vs. Bitcoin? Is one cryptocurrency better than the other everywhere, or do they both have their strengths? In this breakdown, well match the two head to head to see which one youre best off buyng, whatever you want to use them for. If youre interested in more cryptocurrency comparisons, check out our guide to Ethereum, and how it measures up compared to bitcoin . Although making money wasnt the original idea for cryptocurrencies, thats what many buyers and sellers use them for, not least because almost all have spiked in value in recent months. Many early owners have made huge amounts of money over the past year.Thats not to say any of it is a guarantee. Cryptocurrencies of all types arenotoriously volatile, and have been especially so in recent times. Bitcoin went from being worth around $1,000 at the start of 2017 to close to $20,000 in December, before settling to around $12,000 at the start of 2018. Litecoin had a similarly meteoric rise . It rose from just $4 in January 2017 to more than $370 at its peak less than 12 months later. At the time of writing, its corrected to $150. This is a pattern thats been repeated among most cryptocurrencies, however. With Litecoin at least, there is a lot of name recognition. As one of the oldest cryptocurrencies, its established and has a longer history than almost all others of retaining its value over time. Its also s Continue reading >>

Bitcoin Vs Ether Vs Litecoin Vs Ripple: Differences Between Cryptocurrencies

Bitcoin Vs Ether Vs Litecoin Vs Ripple: Differences Between Cryptocurrencies

By now, you've no doubt heard about the massive bitcoin rally this year . And you may also have read about other cryptocurrencies, such as litecoin and Ethereum , surging too. But there are over 1,300 cryptocurrencies in existence. And while bitcoin dominates the market, several other digital currencies are making waves. CNBC has created a brief guide on how the top five cryptocurrencies by market capitalization, or value in the world, have performed so far this year, and what the differences are between each of them. All market cap and year-to-date rise figures are accurate as of December 14. But because of the frenzy around bitcoin, transaction times have spiked, which could go against the original aims of the cryptocurrency. While Nakamoto referred to bitcoin as electronic cash, many experts have called it "digital gold" and said it could be a long-term store of value. At the moment, some retailers in Japan have begun accepting bitcoin as payment and there are even instances of real estate firms accepting it too . But there is little evidence of widespread use of bitcoin for payments. Ethereum is the name of a blockchain company that has created the digital token ether. But Ethereum and ether are now used interchangeably to refer to the cryptocurrency. Ether is backed by a blockchain, much like bitcoin, but the technology is slightly different and aimed at a specific use case: smart contracts. Take a trade finance deal, for example. This relies on each party in the deal having a paper or digital copy of the contract and needing to update it individually. It's arduous and prone to error. But a smart contract is one that is written in code into a blockchain. Once the terms of the contract are met by each party, a deal will be executed. Many major organizations are exp Continue reading >>

Litecoin Beats Bitcoin's Price In 2018: But What Is It? | Fortune

Litecoin Beats Bitcoin's Price In 2018: But What Is It? | Fortune

With digital currency Bitcoin taking the spotlight in 2017, its hard to remember the other cryptocurrencies that have been growing in its shadow. An increasingly-prominent example: Litecoin . The fourth largest digital currency by market capitalization has gone positively vertical this year, with Litecoin prices breaching $320 for the first time Tuesday. Since the start of 2017, Litecoin has risen 7,291% against bitcoins 1,731%. So why the rise? There doesnt seem to be a single eventthough the recent surge in interest surrounding cryptocurrencies may have pushed some investors into becoming more adventurous. Some investors may also think the price of bitcoin is overdoneand are seeking other investment opportunities. Meanwhile, Litecoin only became somewhat easier to purchase earlier this year , with Coinbase adding the cryptocurrency to its listing. One of the several clone cryptocurrencies that stemmed from Bitcoin, Litecoin forked off the Bitcoin ledger in late 2011. It was intended to be the silver to Bitcoins gold: a faster, more lightweight version of the Satoshi Nakamoto-created cryptocurrency. Instead of the approximately 10 minutes it takes for a Bitcoin transaction, a Litecoin transaction only takes 2.5 minutes. While making transactions four times faster, Litecoins creator also Charlie Lee quadrupled the maximum number of coins that can be mined. While bitcoin has a total of 21 million, Litecoin totals 84 million. And the total market value of Litecoin is currently lower: $18 billion to Bitcoins $291 billion. It is the fourth largest cryptocurrency market behind Bitcoin, Ethereum, and Bitcoin cash. The higher number of Litecoins, meanwhile, could make it psychologically more attractive to buy small-ticket items using the cryptocurrency. The vision is always I Continue reading >>

Why Does Litecoin Have Lower Transaction Fee Than Bitcoin?

Why Does Litecoin Have Lower Transaction Fee Than Bitcoin?

Is it only because LTC doesn't have as many users as BTC? Or do the faster confirmation times also help with lowering fees? Litecoin's block interval is a fourth of Bitcoin's at 2.5 minutes SegWit is activated, limiting blocks to 4MB weight instead of 1MB size. With leisurely adoption of the new segwit transaction format this would eventually allow a capacity equivalent of blocks with ~1.7-2.3 MB size. Litecoin's blockspace demand is much lower: Bitcoin does about 250k transactions per day with the mempool never completely flushing out, Litecoin has just slightly over 19k, while it could do about 2,000k. Bitcoin is operating with demand exhausting the supply continuously, thus finding actually a price for blockspace. In the past months we've seen feerates move between 1 and 540 satoshi/byte. Now that the latest hype has cooled down slightly, we can observe a daily and weekly cycle, under the week going from ~8 to ~400 satoshi/byte, dropping down to as low as 2 satoshi/byte on weekends. On the other hand, Litecoin is operating with demand at approximately 1% of the supply. Miners appear to be observing a hard coded minimum fee of 100 litoshi/B. So basically it's because they have less users on the platform? If LTC also had a similar amount of users as BTC, then it would have similarly high transaction fees? student77 Jun 26 at 18:16 @student77 The price of transactions is subject to supply and demand just like a service on any other market MrJLP Jun 26 at 18:20 Yes, blockspace supply on LTC is factor ~4-8 higher, and demand is factor 10 lower. If these were getting closer, LTC would also transition to a fee market instead of their flat fees. Murch Jun 26 at 18:22 Ok so to clarify: if LTC had the same number of users as BTC, then LTC would still have lower fees because b Continue reading >>

Bought Your First Bitcoin Or Ether? Brace For The Fees

Bought Your First Bitcoin Or Ether? Brace For The Fees

Bought Your First Bitcoin or Ether? Brace for the Fees Dec 18, 2017 at 11:30 UTC|UpdatedDec 19, 2017 at 13:03 UTC I sent $25 of Bitcoin from one address (in Coinbase) to another (Kraken). -- Kristian Freeman (@imkmf) December 8, 2017 Ready to send your first bitcoin?That will be $26 please... Sure, that's on the high end of what you might pay to use the bitcoin blockchain today, but if you're new to the world of cryptocurrencies (and haven't invested that much), we understand seeing such a sky-high sum might be a shock. (Sorry, Kristian!) Despite what you might have heard about the "money of the future," the fact is bitcoin (and other cryptocurrencies) are both expensive - and experimental - today. But while this might not be what you're used to (or even what you signed up for when purchasing), looking at the reasons behind blockchain costs can help you understand the technology, its weaknesses and where the ecosystem needs more dedicated minds to improve. OK, so what's with fees in the first place? To start, you're probably thinking this money is all going somewhere. And it is, just not a single place. When you send a cryptocurrency transaction, you're paying for it to be included on the protocol's blockchain, which you can think of as something an official record of every token on the network ever spent (whether it's bitcoin, ether or something more exotic). Rather than holding this at a bank or a credit card firm, this ledger is distributed. This means that should any one computer (or group of computers) go down, the network still has a copy showing that you own your asset. The bad news is you have to pay all those computers to process it. Here, we'll introduce you to the first new person on our journey, the miner (or validator, depending on your network). You don't Continue reading >>

Bitcoin Vs. Litecoin, Ethereum, Ripple, And Dash

Bitcoin Vs. Litecoin, Ethereum, Ripple, And Dash

Bitcoin vs. Litecoin, Ethereum, Ripple, and Dash Bitcoin is the oldest and most popular digital currency in the market. However, there are over 800 other digital currencies (known as altcoins) that can be also purchased and held as an investment. In this guide, well compare four of the most popular altcoins with bitcoin, so you can become familiar with other potential digital currency investment opportunities. When litecoin first launched in 2011, it was said that if bitcoin is digital gold, then litecoin is digital silver. For a long time, that was the case. Litecoin quickly emerged as the second largest digital currency after bitcoin, as measured by market capitalization. The altcoin even experienced a degree of merchant adoption in its early years. Its popularity faded somewhat as the Ethereum project and its native digital currency, ether, became the second largest digital currency in 2016. However, when it was announced in early 2017 that Litecoin would adopt the so-called SegWit upgrade for its blockchain, which addresses blockchain scaling issues, the price of litecoin shot up from its 2-year trading range of $3 to $5 to reach a new all-time high of over $50 on July 1, 2017. Litecoin has become a very popular digital currency because it has all the benefits of bitcoin but has faster transaction times and lower transaction fees. This is why many digital currency experts believe it has the potential to challenge bitcoin as the go-to digital currency of the future. This belief is shared by many digital currency investors, which may explain why the price of litecoin has rallied by over 1000 percent from March to July 2017. If you believe that global adoption of litecoin (LTC) will surge since its transactions are faster and cheaper than bitcoin, then adding litecoin Continue reading >>

Coinbase | Coinbase Pricing & Fees Disclosures

Coinbase | Coinbase Pricing & Fees Disclosures

In general, Coinbase does not charge a fee to use our Hosted Digital Currency Wallet service. Transfers of virtual currency to an address off the Coinbase platform may incur network transaction fees, such as bitcoin miners fees, which Coinbase may pass through to you. Any such transfer fees will be disclosed to you at the time of the transaction. Your exchange rate for buying or selling digital currency through our Conversion Service is calculated as the market rate of the digital currency on Coinbases GDAX platform, plus a spread between 25 to 100 basis points determined by the size of your transaction, market volatility and length of time using Coinbase ("Exchange Rate"). In rare circumstances, the market rate from GDAX may not be available due to outages or scheduled maintenance. In order to provide you with uninterrupted services at such time, we may derive market pricing data from unaffiliated digital currency exchanges. Exchange rates quoted in these circumstances are subject to spread exceeding 100 basis points. The final exchange rate will be quoted to you before you complete your transaction. We charge fees (Conversion Fees) to use the Conversion Service, which vary based on your location, payment method, and other circumstances. In some cases we may charge an additional fee on transfers to and from your bank account. We will always notify you of Conversion Fees and any other service fees that apply to each transaction in the aggregate, in two instances: (1) immediately before you confirm each transaction and (2) in the receipt we issue to you immediately after each transaction has processed. Unless otherwise disclosed to you at the time of your transaction, the Conversion Fees you pay is calculated by one of two methods: Continue reading >>

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