median and highest fees
source: monero.how
2 Answers
This information is based on the last 100 transactions. That particular screenshot is an anomaly and unrepresentative of the norm.
If you refresh right now, for example, you'll see the median Bitcoin transaction fee is $4.76 vs $0.86 for Monero.
Note that there is work being done on reducing the Monero "range proof" size, which will result in smaller transaction sizes (measured in bytes) that will significantly reduce Monero transaction fees in the future.
Unfortunately "last 100 transactions" is probably not a good probe to find a reasonable median. Right nowthe median for a BTC tx is $2.3961 while it is $0.8691 for XMR.
It depends on too many things like number of inputs and outputs, what you can see in my screenshot, where the highest Bitcoin tx fee was crazy $162.8588 probably because a lot of small inputs (and/or) outputs have been included in this transaction.
In Monero GUI, you can set the priority of your transaction to low/default/medium/high which will change the base fee multiplier to 1/4/20/166 which will result in the according fee and the incentive for miners to include your transaction in the next block. The base fee is dynamically calculated with the current block size limit and current block reward, so the larger blocks get and the smaller the block reward gets, the lower fees will get. In a sudden price rally it would be possible to accept fees with multiplier smaller than 1.
