How does Exodus calculate Bitcoin transaction fees?

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How does Exodus calculate Bitcoin transaction fees?

Exodus tracks changes in the Bitcoin Network (BTC) and adjusts the fees accordingly using dynamic pricing models. These network fees are 100% paid to the Bitcoin Network (Miners) to ensure Exodus transactions are fast and delivered promptly.

When popular blockchain networks become congested, determining the right fee can make a big difference for your transaction. If a transaction fee is set too low, miners will not have an incentive to prioritize your transaction on the network resulting in delays and slow confirmations.

Exodus will automatically optimize transaction fees to make sure the wallet is paying the lowest fee that will get the transaction confirmed on the next block. This means that Bitcoin transactions should confirm in around 10 minutes.

I receive mining payouts. Why are my fees so high?

For UTXO coins such as BTC and LTC, transaction fees depend largely on the number of previous deposits called inputs.

When you want to send some Bitcoin from your Exodus wallet, the inputs are combined to add up to the amount you want to send out. When your wallet has to combine a lot of these small inputs as part of a single transaction, this creates a lot of data for the single transaction.

The fees on these transactions are far higher than those for sending smaller input transactions because you pay your network fee per size of the data in the transaction.

Because of this, we advise users to set their mining reward preferences to receive larger payouts delivered less frequently. This will ensure you do not have too many small deposits.

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