The fee for sending 5 coins to $DOGE may be higher than the fee for sending 5,000 coins.
Fees depend on transaction size, not the amount. The fee is calculated by multiplying the transaction’s size in bytes by the fee rate. A transaction consists of inputs and outputs; the more inputs it uses and the more complex its structure, the larger it is and the higher the fee.
Your balance consists of multiple unspent outputs. How many inputs it takes to make up the amount often determines how large a transaction is. Accounts with lots of small, scattered outputs may pay more to send the same amount.
Before signing, compare the transaction size and fee rate. The amount as a proportion of your balance and this string of digits have nothing to do with it. Different wallets use different default fee rates and estimation methods, so the estimated fee for the same amount can vary from one wallet to another.
The fee differs depending on how many inputs are used to send the same amount.
#Dogecoin #Blockchain $DOGE
DYOR; this is just my personal understanding.
Fees depend on transaction size, not the amount. The fee is calculated by multiplying the transaction’s size in bytes by the fee rate. A transaction consists of inputs and outputs; the more inputs it uses and the more complex its structure, the larger it is and the higher the fee.
Your balance consists of multiple unspent outputs. How many inputs it takes to make up the amount often determines how large a transaction is. Accounts with lots of small, scattered outputs may pay more to send the same amount.
Before signing, compare the transaction size and fee rate. The amount as a proportion of your balance and this string of digits have nothing to do with it. Different wallets use different default fee rates and estimation methods, so the estimated fee for the same amount can vary from one wallet to another.
The fee differs depending on how many inputs are used to send the same amount.
#Dogecoin #Blockchain $DOGE
DYOR; this is just my personal understanding.