{"id":433414,"date":"2022-04-18T11:53:33","date_gmt":"2022-04-18T08:53:33","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-average-transaction-fees-lowest-in-two-years-at-1-04\/"},"modified":"2022-04-18T11:53:33","modified_gmt":"2022-04-18T08:53:33","slug":"bitcoin-average-transaction-fees-lowest-in-two-years-at-1-04","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-average-transaction-fees-lowest-in-two-years-at-1-04\/","title":{"rendered":"# Bitcoin average transaction fees lowest in two years at $1.04"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a373c0b7d7d3\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a373c0b7d7d3\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-average-transaction-fees-lowest-in-two-years-at-1-04\/#%E2%80%9D_Bitcoin_average_transaction_fees_lowest_in_two_years_at_104_%E2%80%9C\" >&#8221; Bitcoin average transaction fees lowest in two years at $1.04 &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Bitcoin_average_transaction_fees_lowest_in_two_years_at_104_%E2%80%9C\"><\/span>&#8221; Bitcoin average transaction fees lowest in two years at $1.04 &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-2a0745c6>The average transaction fee per Bitcoin (BTC) transaction made a complete 360-degree over nearly two years to settle down at $1.039, a number which was last recorded back in June 2020.\u00a0<\/p>\n<p>The BTC transaction fee is the cost to transfer any amount of BTC, which is also directly proportional to the time it takes to validate and complete the transaction. <\/p>\n<p>As evidenced by <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.blockchain.com\/charts\/fees-usd-per-transaction\">data<\/a> provided by Blockchain.com, the average BTC transaction fee saw a steady decline from an all-time high of $62.788 in April 2021 before coming down to an eight-month average of $2 in July 2021.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-04\/315ec103-d044-4091-89e1-fbb868d8097a.png\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>Average BTC transaction fee in U.S. dollars. Source: blockchain.com<\/em><\/figcaption><\/figure>\n<p>Before April 2021, Bitcoin\u2019s average transaction fees peaked in Dec. 2017, standing at $54.638. The sudden spike in the transaction fees at the time mirrored the significant decline in the Bitcoin network hash rate. However, at the time of writing, the Bitcoin network hash rate maintains its newly attained all-time high of 248.11 EH\/s.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-04\/dc5e7efc-638c-40da-a62b-5c52b7d76a01.png\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>All-time high BTC average transaction fees. Source: blockchain.com<\/em><\/figcaption><\/figure>\n<p>As a result of the above combination, Bitcoin\u2019s highly resilient network can process secure BTC transactions at lower costs. BTC\u2019s price volatility has also shown greater stability as it oscillates between the $35,000 to $45,000 mark throughout the year, as seen below based on data from Cointelegraph Markets Pro and TradingView.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-04\/f74b5338-9aa5-4d9d-baab-c066b63759bd.png\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>BTC market price chart 2022. Source: TradingView<\/em><\/figcaption><\/figure>\n<p>With more jurisdictions ready to ease up on the Bitcoin ecosystem along with timely network updates, the resultant increase in participation will further ensure a stronger network while playing a deflationary role in Bitcoin\u2019s price.\u00a0<\/p>\n<p><strong>Related: <\/strong><strong><em>Quantum computing firm simulates adoption of crypto payments<\/em><\/strong><\/p>\n<p>Quantum computing firm Multiverse Computing ran simulations around the adoption of BTC and Ether (ETH) in Canadian markets to study their viability as a mainstream payment method.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Our work on <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/cryptocurrency?src=hash&amp;ref_src=twsrc%5Etfw\">#cryptocurrency<\/a> networks with <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/bankofcanada?ref_src=twsrc%5Etfw\">@bankofcanada<\/a> is finally out in the open!<\/p>\n<p>Huge congratulations to the team for their phenomenal work on this project<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/quantum?src=hash&amp;ref_src=twsrc%5Etfw\">#quantum<\/a> for the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/economy?src=hash&amp;ref_src=twsrc%5Etfw\">#economy<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/FrH678gKRm\">https:\/\/t.co\/FrH678gKRm<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/8i84oZmKb8\">pic.twitter.com\/8i84oZmKb8<\/a><\/p>\n<p>\u2014 Sam Mugel (@SamMugel) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/SamMugel\/status\/1514595086969016320?ref_src=twsrc%5Etfw\">April 14, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Speaking to Cointelegraph, Multiverse Computing chief <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a> officer Sam Mugel suggested that non-financial institutions could carry out &#8220;a high uptake of crypto in the short term&#8221; when considering digital assets for payments.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bitcoin-average-transaction-fees-lowest-in-two-years-at-1-04\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Bitcoin average transaction fees lowest in two years at $1.04 &#8220; The average transaction fee per Bitcoin (BTC) transaction made a complete 360-degree over nearly two years to settle down at $1.039, a number which was last recorded back in June 2020.\u00a0 The BTC transaction fee is the cost to transfer any amount of&#8230;<\/p>\n","protected":false},"author":1,"featured_media":433415,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDQvMDA2Y2VmZWQtOWRmYS00OWE2LWI1MWQtOTM1NTI5N2FlODc0LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,76276,74894,74880,72927],"class_list":["post-433414","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-payments","tag-blockchain","tag-transactions","tag-fees"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/433414","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=433414"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/433414\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/433415"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=433414"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=433414"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=433414"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}