While most crypto watchers and investors are aware that Bitcoin prices have increased significantly this month to reach $37 K, their highest levels this year, few are aware that the transaction fees have increased significantly
For example the popular micropayment wallet Faucetpay charges a flat fee for normal as well as priority withdrawal. In November 2023, Faucetpay is now charging 20000 satoshi or $7.133 for a normal Bitcoin withdrawal which is processed within 4 hours.
The fees for a priority Bitcoin withdrawal are even higher at 60000 satoshi or approximately $21.40
In January 2023, when Bitcoin prices were low the Bitcoin withdrawal fee was significantly lower at 600 satoshi
The transaction fees for other cryptocurrencies remain almost the same.
Some of the Faucetpay users are only making a few cents daily, so these users should evaluate the fees before they make a Bitcoin withdrawal or transaction request

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