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Bitcoin Transaction Fee Calculator: How To Calculate Bitcoin Transaction Fees

Bitcoin Transaction Fees are relative to demand. Tell the Blockchain the transaction isn't urgent and it'll reward you with a lower processing rate; instruct it that the transaction must be processed in the next wave and it'll charge you more. But how do you figure out how much each will cost? You use a Bitcoin Transaction Fee Calculator.

There are several out there, the most notable of which comes from educational outlet Buy Bitcoin Worldwide. Just head over to the Bitcoin Transaction Fee Calculator (by clicking here), let it know how soon you want your transaction to be processed, and it will return an estimated figure of how much it will cost, using the latest data.

Related: How To Mine Bitcoin Fast

Of course, if the fee is a little too rich for your liking, there are options to reduce it.  The most effective way to decrease Bitcoin Transaction Fees is through the use of a Bitcoin Wallet that supports SegWit — a modification that configures transaction data in a more compact form, which takes up less space on the Blockchain and thus costs less.

This article is an installment in our brand new Bitcoin 101 series — a set of articles dedicated to answering all of your most basic Bitcoin-related questions and queries, including where to spend Bitcoin, how to mine Bitcoin, how to spend Bitcoin using a Visa debit card, and the safest and easiest way to convert Bitcoin to USD