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Can I choose the transaction priority when sending BTC?

Outgoing BTC transactions include a mining fee to ensure that they are successfully processed. This fee is paid directly to the bitcoin miners to process transactions, and not directed to TRASTRA.

You can find more information regarding mining fees here.

TRASTRA allows you to choose how quickly you’d like your transaction to be processed.

There are 3 options in BTC wallet (Figure 1-1). These options will be available after filling the fields of the BTC wallet address and the amount to be sent.

Figure 1-1: 3 options for priority in BTC wallet

Low: Do you have time to wait? Pay the lowest fee for confirming your transaction. This option saves money but can lead to high waiting times (especially at network peak times). You can check the blockchain’s volume here.

If the bitcoin network is congested, there can be a delay in the mining of the transaction. Low priority inputs take much longer than accumulated large amounts of priority because miners choose whether to accept such transactions.

Regular: The middle ground – you pay a higher fee than with the “Low” option, but with shorter confirmation time.

High: If you need the transaction to proceed quickly, the “High” option is the right choice. The transaction should be mined approximately within the next 1-2 blocks on the blockchain. The miners will mine your transaction faster than normal transactions.

Note: high priority transactions cost more as they must outbid other users in the waiting queue.

However, the amount of Bitcoin you send does not affect the fee.

When sending the transaction with TRASTRA App, you can not only see the blockchain fee before the transaction is sent, but choose which type of fee you’d like to pay as well.

More information on bitcoin transaction fees can also be found on BitcoinWiki.

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