A cryptocurrency owner paid a thousand times more than necessary for the transfer of 3.8 BTC

Cryptocurrency experts have noticed an unusual bitcoin transfer — the user paid a fee for sending 3.8 BTC a thousand times more than was required. The cryptocurrency owner was supposed to pay only 20 cents to transfer $ 63,000 in bitcoin, but it cost him $ 220.

Typically, wallets and other crypto transfer platforms automatically determine the required fee to be paid for a transfer. However, the user can also specify the amount on his or her own, which is where cryptocurrency owners often lose money. A Twitter user under the nickname Bitcoin QnA tried to understand the situation and suggested 3 possible reasons for the overpriced fee:

1. The user was using a wallet with inflated fees.
2. The user entered the amount of the fee by himself and made a mistake.
3. The exchange registered the transfer as urgent — in such cases, the commission is higher, but not that much!

This is not the only case when a user pays a higher commission than necessary. On October 19, an ethereum owner paid 125.1 ETH in fees to transfer 57.9 E TH, making a total of 183 ETH (about $ 236,537 at the time of the transfer). The average transaction fee in ethereum is 0.003 ETH ($ 3.88), which is why the user had to pay twice the amount of the desired transfer — it was not established.