BlockChain.Com Wallet – Why are transaction fees so high?

If you are using the default recommended fees and the total fee for your transaction (TX) is very high, it may be due to one of the following reasons:

all) Bitcoin currently has too many transactions to confirm (hence the high fees). You can check it at https://bitcoinfees.net.

rain) For example, the TX size (in bytes) is high because there are a large number of unspent transaction outputs (UTXOs) that will be consumed in the new TX. You can customize and reduce the satoshi/byte fee for TX and wait longer for confirmation. If you can afford to send a smaller amount and send the rest later, another option is to minimize the number of mentioned UTXOs that will be used for the TX (lowering the total TX byte size will result in lower fees). In the Electrum wallet app, under the Coin tab and Coin Control option, select the lower number, larger UTXO. However, you may need to use up all your UTXOs sooner or later to exhaust all your funds. However, you can also schedule for times when the network is utilized lower: https://jochen-hoenicke.de/queue/#BTC% 20(default%20mempool),1y,count – estimates how often periods of low fees occur. It can help you do that. however. Some BTC servers have a minimum Sat/byte limit allowed, but many wallet apps allow you to change the server used.