Just a heads-up to Bitcoin Cash newbies: I would not recommend using the btc.com wallet, because it has some problems with transaction fees. It seems like the developers who created it might not understand the difference between Bitcoin transactions and Bitcoin Cash transactions?
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The btc.com wallet charges 10x too much for Bitcoin Cash transactions. Instead of charging 1 satoshi per byte, they are charging 10 satoshis per byte!
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The btc.com wallet gives the option to choose between "optimal fee" and "low priority fee" transaction fee, but both fees are the exact same 10 satoshis per byte (which is 10x too much). But even if the fees were radically different, choosing between high & low fees is completely unnecessary on the BCH network because there is never congestion on the BCH network.
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If you choose the "low priority fee" (which is the exact same fee as the "optimal fee"), the btc.com wallet erroneously warns users that their Bitcoin Cash transactions might not confirm for several hours. This is obviously true for Bitcoin Core (BTC) users, but this is never true for Bitcoin Cash (BCH) users. All Bitcoin Cash transactions are confirmed in the very next block.
So I contacted the btc.com developers through their website's support page all the way back in November 2017 about this issue (over 9 months ago), and they never responded to me. So I contacted them again in January 2018 (over 7 months ago), and they never responded.
So I left a negative review for them in the iOS App Store about this issue several months ago, and Tobias from the btc.com support team finally responded to me today with this response:
A 1 satoshi per byte transaction would not get propagated through the network. A certain fee amount is required for other nodes to publish the transaction to their connected peers. The fee varies on network conditions. You can always check the latest average fee for Bitcoin Cash on https://bch.btc.com/stats/fee Kind regards, Tobias BTC.com Support Team
Several problems with this response from Tobias on the btc.com support team:
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Nodes don't collect transaction fees, only miners do.
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The Bitcoin Cash (BCH) fee does NOT vary based on network conditions, because the BCH network is never bogged down. There is NO fee market with the Bitcoin Cash (BCH) network, only with the Bitcoin Core (BTC) network.
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The "average fee" for Bitcoin Cash transactions doesn't make a difference, because that skews heavily towards people who are (purposely or inadvertently) overpaying for their Bitcoin Cash BCH transactions. If you want to look at a chart of fees, the appropriate chart to look at is the "median fee" (not the "average fee"), which is a much more accurate fee. But even then, fees are still likely way too high, because many people are significantly overpaying for their Bitcoin Cash transactions due to faulty wallets like the btc.com wallet.
TL;DR: Do not use the btc.com wallet because they are overcharging on transaction fees. I personally recommend the bitcoin.com wallet and the Electron Cash wallet.
EDIT: The VP of Business Operations at btc.com has confirmed below that they are overcharging for BCH fees... they are charging 5 satoshis per byte instead of 1 satoshi per byte. Not sure why. Still awaiting response.
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source https://www.reddit.com/r/btc/comments/92dbcw/the_btccom_wallet_has_multiple_problems_and_so/
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