Bitfinex Made $1.1 Bln Transaction with Record Low Fee

In the crypto world, a new record in the history of bitcoin was set. The Bitfinex crypto exchange transferred 161,500 bitcoins (BTC) for an approximately $0.68 fee. According to the details of the blockchain transaction, the user has moved $1.1 bln in cryptocurrency. 15,000 BTC were sent to the wallet, and the remaining sum — 146,500 BTC — was returned to the original address.

Officially, this transaction is recognized as the largest in terms of dollars. On September 6, 2019, a billionth transaction in bitcoins was recorded. At that time, 94,504 BTC were transferred — $ 1.018 bln for a $700 fee. The largest real-time bitcoin transaction is considered to be a transaction of 500,000 BTC, completed on November 16, 2011. Then, in terms of dollars, the amount was $1.32 mln, and today this amount could be approximately $3.5 bln.

It is worth noting that a fee of less than one dollar for such a large transaction is an indicator of the absolute superiority of bitcoin over the traditional banking system. When making such a transaction through a bank, the operation would take several working days and the fee would definitely have several zeros.

Изображение: Inside Bitcoins