Bitcoin Fees Have Dropped Dramatically As The Currency Is Hit By Low Usage - Transaction Costs Are At Their Lowest Now For 18 Months

Bitcoin transaction volume is now down dramatically, especially when compared with the crazy activity that saw the price in the latter part of 2017.

The fact is that lower usage means lower fees. In fact, transaction costs are at their lowest now for 18 months. It’s a simple case of supply and demand. If you pick your preferred exchange carefully, avoiding those who have set high minimum transaction values, then now is the time to move around relatively small amounts without being stung for a massive chunk of your BTC.

Of course, it’s not just a case of usage. The new SegWit fix is designed to increase efficiency, which will undoubtedly have a continued impact. But, across the board, transaction volumes are down around 60%, meaning that there isn’t the same kind of backlog. This is added to the fact that Bitcoin has been rejected by major banks and credit card providers of late, meaning that it simply hasn’t been an option for many would-be transactors. More details (source): Bitcoin Fees Have Dropped Dramatically As The Currency Is Hit By Low Usage