‹ CHAPTER 6, ALL LESSONS

EXPLORER · CHAPTER 6 · LESSON 3 OF 5

Your first transaction

Sending and fees

Why does a small payment sometimes cost more in fees than a large one? 5 min

To send, you paste or scan the recipient's address, enter the amount, choose a fee and confirm. Your wallet signs and broadcasts the transaction.

Fees are paid for space, not value

Each block has limited space. Miners pick the transactions that pay the most per unit of space, measured in satoshis per virtual byte, written sat/vB.

A transaction's size depends on its structure, not its amount. Sending 1 bitcoin or 1,000 sats can cost exactly the same fee.

Busy or quiet

When many people want to transact, fees rise; when the network is quiet, a few sats per vbyte is enough. Your wallet usually proposes options: fast, normal, slow. Paying less is fine if you are not in a hurry.

  • Check the full address before confirming.
  • Check the amount and the fee.
  • For a new recipient, send a small test first.
▶ SEE IT IN THE MACHINE

In the MEMPOOL tank, the height of each token is the fee rate it pays; only the highest fit in the next block.

What to remember

  • Fees are measured in sat/vB, a price per unit of space.
  • The fee depends on transaction size, not on the amount.
  • Fees rise when the network is busy.

Quick check

Two transactions of the same size send 0.001 and 1 bitcoin. Which pays more fees at the same rate?

What does sat/vB measure?