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Bitcoin transactions are cheapest over the past year

Commission fees for transactions with Bitcoin have reached its minimum level in the past 12 months, as reported by both digital currency observers and news agencies. This means that buying or selling Bitcoin will not get a considerable sum simply to cover operational costs.

The data provided by certain observers tells that the current transaction fee is 1 satoshi per byte. Satoshi is 0.00000001 of Bitcoin, the smallest unit of blockchain it is able to record. When journalists checked this information and tested the fee amount by sending a sum of bitcoins, they have reached the same or almost the same result.

28-08-2017 21:00:00  |   Investments

This might have been influenced by the SegWit implementation. Today it’s harder to find Bitcoin-related projects which claim they are not going to improve transaction speed, but in this case the feature apparently worked as previously claimed by developers.

Bitcoin transaction fee may increase in the future. It has already happened in December 2017 when Bitcoin cost $20,000 per coin. Back then, it cost $50 to buy, sell or transfer Satoshi Nakamoto’s financial tool. Bitcoin investors would probably find this current low commission period more opportune than December.

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