{"id":5844,"date":"2022-08-23T12:20:22","date_gmt":"2022-08-23T12:20:22","guid":{"rendered":"https:\/\/xcoins.com\/?p=5844"},"modified":"2022-11-01T11:29:59","modified_gmt":"2022-11-01T11:29:59","slug":"bitcoin-transaction-fees-hit-2-year-low","status":"publish","type":"post","link":"https:\/\/xcoins.com\/en\/blog\/bitcoin-transaction-fees-hit-2-year-low\/","title":{"rendered":"Bitcoin Transaction Fees Hit 2-Year Low"},"content":{"rendered":"\r\n

Bitcoin transaction fees have fallen under a dollar for the first time in two years thanks to network upgrades, falling bitcoin prices, and a drop in mining difficulty.<\/em><\/p>\r\n\r\n\r\n\r\n

The average Bitcoin transaction fee is now under $1.00 for the first time in over two years, making now an ideal time to pick up the world\u2019s largest cryptocurrency without getting saddled with extra fees.<\/p>\r\n\r\n\r\n\r\n

While the Bitcoin network has struggled with high fees at times thanks to its proof of work<\/a> consensus mechanism, upgrades such as the Lightning Network<\/a> have made it possible to send bitcoin at a fraction of a cent.\u00a0<\/p>\r\n\r\n\r\n\r\n

On Tuesday, the average Bitcoin transaction fee fell to $0.825, a number not seen since June 13th, 2020<\/strong>.<\/p>\r\n\r\n\r\n\r\n

\"Graph<\/figure>\r\n\r\n\r\n\r\n

Average Bitcoin transaction fees in USD per transaction. (Source: Blockchain.com)<\/em><\/p>\r\n\r\n\r\n\r\n

Are falling prices to blame?<\/strong><\/h2>\r\n\r\n\r\n\r\n

The drop in transaction fees can be partly attributed to falling bitcoin prices lowering the incentive for miners and reducing the mining difficulty. However other factors are clearly at play, as mining difficulty remains high compared to earlier this year.<\/p>\r\n\r\n\r\n\r\n

\"Bitcoin<\/figure>\r\n\r\n\r\n\r\n

Bitcoin network difficulty over the past year. (Source: Blockchain.com)<\/em><\/p>\r\n\r\n\r\n\r\n

One factor that may be responsible for the fluctuation in mining difficulty is access to the hardware needed to mine bitcoin.\u00a0<\/p>\r\n\r\n\r\n\r\n

The chips used to mine bitcoin have recently started becoming available again after a prolonged shortage, which has seen mining difficulty start to recover after a prolonged fall over the summer.\u00a0<\/p>\r\n\r\n\r\n\r\n

\"Photo<\/figure>\r\n\r\n\r\n\r\n

 <\/p>\r\n\r\n\r\n\r\n

Time to buy?<\/strong><\/h2>\r\n\r\n\r\n\r\n

Whatever the reason for the low transaction fees at present, one thing is certain. No one likes paying high transaction fees.\u00a0<\/p>\r\n\r\n\r\n\r\n

So if you\u2019ve made the decision to buy bitcoin<\/a> but you\u2019re unsure when to push the \u201cbuy\u201d button, when transaction fees are at their lowest is, without doubt, an opportune moment!<\/p>\r\n\r\n\r\n\r\n

As always, this article does not constitute financial advice and you should be sure to do your own research and consult a professional financial advisor before making any investment decision.<\/p>\r\n\r\n\r\n\r\n


To stay up to date on all things crypto, like Xcoins on <\/em>Facebook<\/em><\/a>, and follow us on <\/em>Twitter<\/em><\/a>, <\/em>Instagram<\/em><\/a>, and <\/em>LinkedIn<\/em><\/a>.<\/em><\/p>\r\n","protected":false},"excerpt":{"rendered":"

Bitcoin transaction fees have fallen under a dollar for the first time in two years thanks to network upgrades, falling […]<\/p>\n","protected":false},"author":17,"featured_media":5845,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[739],"tags":[],"class_list":["post-5844","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news-2"],"yoast_head":"\nBitcoin Transaction Fees Hit 2-Year Low I Xcoins<\/title>\n<meta name=\"description\" content=\"Bitcoin network fees are now under a dollar for the first time in two years, why have they been coming down and what does this mean for you?\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/xcoins.com\/en\/blog\/bitcoin-transaction-fees-hit-2-year-low\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Transaction Fees Hit 2-Year Low\" \/>\n<meta property=\"og:description\" content=\"Bitcoin network fees are now under a dollar for the first time in two years, why have they been coming down and what does this mean for you?\" \/>\n<meta property=\"og:url\" content=\"https:\/\/xcoins.com\/en\/blog\/bitcoin-transaction-fees-hit-2-year-low\/\" \/>\n<meta property=\"og:site_name\" content=\"Xcoins\u2122 Official\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/xcoinsofficial\/\" \/>\n<meta property=\"article:published_time\" content=\"2022-08-23T12:20:22+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-11-01T11:29:59+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/xcoins.com\/wp-content\/uploads\/2022\/08\/bitcoin-chartyy-fb-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"627\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"golali@xcoins.com\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@realxcoins\" \/>\n<meta name=\"twitter:site\" content=\"@realxcoins\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"golali@xcoins.com\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/xcoins.com\\\/en\\\/blog\\\/bitcoin-transaction-fees-hit-2-year-low\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/xcoins.com\\\/en\\\/blog\\\/bitcoin-transaction-fees-hit-2-year-low\\\/\"},\"author\":{\"name\":\"golali@xcoins.com\",\"@id\":\"https:\\\/\\\/xcoins.com\\\/en\\\/#\\\/schema\\\/person\\\/4e7ee9402edb8e2dbd03b0c1f77a8a0b\"},\"headline\":\"Bitcoin Transaction Fees Hit 2-Year Low\",\"datePublished\":\"2022-08-23T12:20:22+00:00\",\"dateModified\":\"2022-11-01T11:29:59+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/xcoins.com\\\/en\\\/blog\\\/bitcoin-transaction-fees-hit-2-year-low\\\/\"},\"wordCount\":350,\"publisher\":{\"@id\":\"https:\\\/\\\/xcoins.com\\\/en\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/xcoins.com\\\/en\\\/blog\\\/bitcoin-transaction-fees-hit-2-year-low\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/xcoins.com\\\/wp-content\\\/uploads\\\/2022\\\/08\\\/bitcoin-chartyy-fb-1.jpg\",\"articleSection\":[\"Crypto News\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/xcoins.com\\\/en\\\/blog\\\/bitcoin-transaction-fees-hit-2-year-low\\\/\",\"url\":\"https:\\\/\\\/xcoins.com\\\/en\\\/blog\\\/bitcoin-transaction-fees-hit-2-year-low\\\/\",\"name\":\"Bitcoin Transaction Fees Hit 2-Year Low I Xcoins\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/xcoins.com\\\/en\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/xcoins.com\\\/en\\\/blog\\\/bitcoin-transaction-fees-hit-2-year-low\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/xcoins.com\\\/en\\\/blog\\\/bitcoin-transaction-fees-hit-2-year-low\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/xcoins.com\\\/wp-content\\\/uploads\\\/2022\\\/08\\\/bitcoin-chartyy-fb-1.jpg\",\"datePublished\":\"2022-08-23T12:20:22+00:00\",\"dateModified\":\"2022-11-01T11:29:59+00:00\",\"description\":\"Bitcoin network fees are now under a dollar for the first time in two years, why have they been coming down and what does this mean for you?\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/xcoins.com\\\/en\\\/blog\\\/bitcoin-transaction-fees-hit-2-year-low\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/xcoins.com\\\/en\\\/blog\\\/bitcoin-transaction-fees-hit-2-year-low\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/xcoins.com\\\/en\\\/blog\\\/bitcoin-transaction-fees-hit-2-year-low\\\/#primaryimage\",\"url\":\"https:\\\/\\\/xcoins.com\\\/wp-content\\\/uploads\\\/2022\\\/08\\\/bitcoin-chartyy-fb-1.jpg\",\"contentUrl\":\"https:\\\/\\\/xcoins.com\\\/wp-content\\\/uploads\\\/2022\\\/08\\\/bitcoin-chartyy-fb-1.jpg\",\"width\":1200,\"height\":627,\"caption\":\"Bitcoin coin with a Bitcoin chart in the background\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/xcoins.com\\\/en\\\/blog\\\/bitcoin-transaction-fees-hit-2-year-low\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/xcoins.com\\\/en\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Bitcoin Transaction Fees Hit 2-Year Low\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/xcoins.com\\\/en\\\/#website\",\"url\":\"https:\\\/\\\/xcoins.com\\\/en\\\/\",\"name\":\"Xcoins\u2122 Official\",\"description\":\"Buy and Sell Crypto Instantly\",\"publisher\":{\"@id\":\"https:\\\/\\\/xcoins.com\\\/en\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/xcoins.com\\\/en\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/xcoins.com\\\/en\\\/#organization\",\"name\":\"xcoins.com\",\"url\":\"https:\\\/\\\/xcoins.com\\\/en\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/xcoins.com\\\/en\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/xcoins.com\\\/wp-content\\\/uploads\\\/2022\\\/01\\\/xcoins-logo.png\",\"contentUrl\":\"https:\\\/\\\/xcoins.com\\\/wp-content\\\/uploads\\\/2022\\\/01\\\/xcoins-logo.png\",\"width\":559,\"height\":559,\"caption\":\"xcoins.com\"},\"image\":{\"@id\":\"https:\\\/\\\/xcoins.com\\\/en\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/www.facebook.com\\\/xcoinsofficial\\\/\",\"https:\\\/\\\/x.com\\\/realxcoins\",\"https:\\\/\\\/www.instagram.com\\\/xcoins.hq\\\/\",\"https:\\\/\\\/www.linkedin.com\\\/company\\\/realxcoins\\\/\"]},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/xcoins.com\\\/en\\\/#\\\/schema\\\/person\\\/4e7ee9402edb8e2dbd03b0c1f77a8a0b\",\"name\":\"golali@xcoins.com\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/8feb010deafec1d110814e0b8022dd26dfde7fd7f019b7654e2f6908d88a8152?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/8feb010deafec1d110814e0b8022dd26dfde7fd7f019b7654e2f6908d88a8152?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/8feb010deafec1d110814e0b8022dd26dfde7fd7f019b7654e2f6908d88a8152?s=96&d=mm&r=g\",\"caption\":\"golali@xcoins.com\"}}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Bitcoin Transaction Fees Hit 2-Year Low I Xcoins","description":"Bitcoin network fees are now under a dollar for the first time in two years, why have they been coming down and what does this mean for you?","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/xcoins.com\/en\/blog\/bitcoin-transaction-fees-hit-2-year-low\/","og_locale":"en_US","og_type":"article","og_title":"Bitcoin Transaction Fees Hit 2-Year Low","og_description":"Bitcoin network fees are now under a dollar for the first time in two years, why have they been coming down and what does this mean for you?","og_url":"https:\/\/xcoins.com\/en\/blog\/bitcoin-transaction-fees-hit-2-year-low\/","og_site_name":"Xcoins\u2122 Official","article_publisher":"https:\/\/www.facebook.com\/xcoinsofficial\/","article_published_time":"2022-08-23T12:20:22+00:00","article_modified_time":"2022-11-01T11:29:59+00:00","og_image":[{"width":1200,"height":627,"url":"https:\/\/xcoins.com\/wp-content\/uploads\/2022\/08\/bitcoin-chartyy-fb-1.jpg","type":"image\/jpeg"}],"author":"golali@xcoins.com","twitter_card":"summary_large_image","twitter_creator":"@realxcoins","twitter_site":"@realxcoins","twitter_misc":{"Written by":"golali@xcoins.com","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/xcoins.com\/en\/blog\/bitcoin-transaction-fees-hit-2-year-low\/#article","isPartOf":{"@id":"https:\/\/xcoins.com\/en\/blog\/bitcoin-transaction-fees-hit-2-year-low\/"},"author":{"name":"golali@xcoins.com","@id":"https:\/\/xcoins.com\/en\/#\/schema\/person\/4e7ee9402edb8e2dbd03b0c1f77a8a0b"},"headline":"Bitcoin Transaction Fees Hit 2-Year Low","datePublished":"2022-08-23T12:20:22+00:00","dateModified":"2022-11-01T11:29:59+00:00","mainEntityOfPage":{"@id":"https:\/\/xcoins.com\/en\/blog\/bitcoin-transaction-fees-hit-2-year-low\/"},"wordCount":350,"publisher":{"@id":"https:\/\/xcoins.com\/en\/#organization"},"image":{"@id":"https:\/\/xcoins.com\/en\/blog\/bitcoin-transaction-fees-hit-2-year-low\/#primaryimage"},"thumbnailUrl":"https:\/\/xcoins.com\/wp-content\/uploads\/2022\/08\/bitcoin-chartyy-fb-1.jpg","articleSection":["Crypto News"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/xcoins.com\/en\/blog\/bitcoin-transaction-fees-hit-2-year-low\/","url":"https:\/\/xcoins.com\/en\/blog\/bitcoin-transaction-fees-hit-2-year-low\/","name":"Bitcoin Transaction Fees Hit 2-Year Low I Xcoins","isPartOf":{"@id":"https:\/\/xcoins.com\/en\/#website"},"primaryImageOfPage":{"@id":"https:\/\/xcoins.com\/en\/blog\/bitcoin-transaction-fees-hit-2-year-low\/#primaryimage"},"image":{"@id":"https:\/\/xcoins.com\/en\/blog\/bitcoin-transaction-fees-hit-2-year-low\/#primaryimage"},"thumbnailUrl":"https:\/\/xcoins.com\/wp-content\/uploads\/2022\/08\/bitcoin-chartyy-fb-1.jpg","datePublished":"2022-08-23T12:20:22+00:00","dateModified":"2022-11-01T11:29:59+00:00","description":"Bitcoin network fees are now under a dollar for the first time in two years, why have they been coming down and what does this mean for you?","breadcrumb":{"@id":"https:\/\/xcoins.com\/en\/blog\/bitcoin-transaction-fees-hit-2-year-low\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/xcoins.com\/en\/blog\/bitcoin-transaction-fees-hit-2-year-low\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/xcoins.com\/en\/blog\/bitcoin-transaction-fees-hit-2-year-low\/#primaryimage","url":"https:\/\/xcoins.com\/wp-content\/uploads\/2022\/08\/bitcoin-chartyy-fb-1.jpg","contentUrl":"https:\/\/xcoins.com\/wp-content\/uploads\/2022\/08\/bitcoin-chartyy-fb-1.jpg","width":1200,"height":627,"caption":"Bitcoin coin with a Bitcoin chart in the background"},{"@type":"BreadcrumbList","@id":"https:\/\/xcoins.com\/en\/blog\/bitcoin-transaction-fees-hit-2-year-low\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/xcoins.com\/en\/"},{"@type":"ListItem","position":2,"name":"Bitcoin Transaction Fees Hit 2-Year Low"}]},{"@type":"WebSite","@id":"https:\/\/xcoins.com\/en\/#website","url":"https:\/\/xcoins.com\/en\/","name":"Xcoins\u2122 Official","description":"Buy and Sell Crypto Instantly","publisher":{"@id":"https:\/\/xcoins.com\/en\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/xcoins.com\/en\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/xcoins.com\/en\/#organization","name":"xcoins.com","url":"https:\/\/xcoins.com\/en\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/xcoins.com\/en\/#\/schema\/logo\/image\/","url":"https:\/\/xcoins.com\/wp-content\/uploads\/2022\/01\/xcoins-logo.png","contentUrl":"https:\/\/xcoins.com\/wp-content\/uploads\/2022\/01\/xcoins-logo.png","width":559,"height":559,"caption":"xcoins.com"},"image":{"@id":"https:\/\/xcoins.com\/en\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/xcoinsofficial\/","https:\/\/x.com\/realxcoins","https:\/\/www.instagram.com\/xcoins.hq\/","https:\/\/www.linkedin.com\/company\/realxcoins\/"]},{"@type":"Person","@id":"https:\/\/xcoins.com\/en\/#\/schema\/person\/4e7ee9402edb8e2dbd03b0c1f77a8a0b","name":"golali@xcoins.com","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/8feb010deafec1d110814e0b8022dd26dfde7fd7f019b7654e2f6908d88a8152?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/8feb010deafec1d110814e0b8022dd26dfde7fd7f019b7654e2f6908d88a8152?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/8feb010deafec1d110814e0b8022dd26dfde7fd7f019b7654e2f6908d88a8152?s=96&d=mm&r=g","caption":"golali@xcoins.com"}}]}},"_links":{"self":[{"href":"https:\/\/xcoins.com\/en\/wp-json\/wp\/v2\/posts\/5844","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/xcoins.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/xcoins.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/xcoins.com\/en\/wp-json\/wp\/v2\/users\/17"}],"replies":[{"embeddable":true,"href":"https:\/\/xcoins.com\/en\/wp-json\/wp\/v2\/comments?post=5844"}],"version-history":[{"count":0,"href":"https:\/\/xcoins.com\/en\/wp-json\/wp\/v2\/posts\/5844\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/xcoins.com\/en\/wp-json\/wp\/v2\/media\/5845"}],"wp:attachment":[{"href":"https:\/\/xcoins.com\/en\/wp-json\/wp\/v2\/media?parent=5844"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/xcoins.com\/en\/wp-json\/wp\/v2\/categories?post=5844"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/xcoins.com\/en\/wp-json\/wp\/v2\/tags?post=5844"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}