Hello and welcome to the Exodus channel your
home for exodus tutorials and crypto videos.
We’re going to learn a bit about Bitcoin
transaction fees and how you can set your
own custom fees when sending Bitcoin from
Exodus.
No part of this fee goes to Exodus.
100% of transaction fees go to the Bitcoin
miners who process transactions.
Make sure you watch until the end so you understand
why it’s important to set the right fee.
Let’s get started.
Open your bitcoin wallet and click the three
dots in the top right corner to access the
bitcoin wallet’s asset menu.
Click “Advanced options” and toggle on
“Enable custom fees”
Next, click the send button.
In the top left corner, there’s a gear icon.
Click it to access the custom Bitcoin fees
slider.
And that’s it.
You only need to do this once.
Exodus will remember your settings moving
forward.
The recommended fee, signaled here by the
small arrow, is dynamic and changes based
on network traffic conditions.
Exodus will recommend a fee that prioritizes
speed so your Bitcoin will arrive wherever
you are sending to without having to wait.
Move the slider to the left to set a lower
than the recommended fee.
Or to the right to set a higher fee.
If you prefer to manually type in the fee,
just click the little pencil icon.
Now, you may be thinking, what is the benefit
to setting a high fee vs a low fee.
With a low fee, you save money because you
will pay less to send your BTC.
However, there is a trade-off.
If the bitcoin network is busy, sending bitcoin
with a lower than recommended fee may mean
your transaction takes longer to process.
This is because the bitcoin network prioritizes
higher fee transactions.
If speed isn’t a concern, you can set a
lower than recommended fee.
Just be cautious about setting too low of
a fee.
If you’re unsure about what fee to choose,
it’s probably best to stick with the recommended
fee so your transaction doesn’t take forever
or get stuck.
If you would like to learn more about btc
fees and transaction times, we have the perfect
video that explains them in simple terms.
If this video helped, give it a like and subscribe
to the channel for more crypto videos from
Exodus.
