Everything you need to know about setting Bitcoin custom transaction fees and how to enable RBF.
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In this article:
What are custom Bitcoin fees?
When you send Bitcoin, you pay a network transaction fee to have your transaction confirmed by miners. By default, Exodus sets a recommended fee to balance speed and cost.
Custom fees let you adjust Bitcoin transaction fees, giving you more control over how miners prioritize your transaction.
Setting a higher fee will make your transaction more likely to be confirmed in the next batch of transactions that miners confirm. Setting a lower fee can reduce cost, but may delay the transaction or cause it to get stuck pending.
You can set custom Bitcoin fees in Exodus Mobile, Desktop, or Web3 Wallet.
How do I set Bitcoin custom fees and enable RBF?
In Exodus, when you set a custom fee for a transaction, replace-by-fee (RBF) is automatically enabled. For transactions without a custom fee, RBF is turned off by default.
When RBF is enabled, you can accelerate a stuck transaction by replacing it with a transaction with a higher fee. It also allows for batched transactions, sending BTC to multiple addresses simultaneously.
See the following step-by-step instructions on setting a custom fee and enabling RBF for your transaction:
Mobile
Open your Bitcoin wallet and tap the Send button on the left side of your wallet.
a) Enter the amount you would like to send. After you enter the send amount, the icon for the menu will appear. b) Tap on the menu to set a custom fee.
Now you will see a slider:
a) Slide left to pay a lower fee. This may save on costs, but could delay your transaction.
b) Slide right to pay a higher fee. This gives your transaction a higher priority.
c) Tap the fee rate to enter a custom fee manually.
d) Acceleration (RBF) is enabled automatically if you set a custom fee. If you use the recommended fee and want to enable RBF, tap the Disabled button to turn it on.
Finally, tap Confirm.
That’s it! You have set a custom transaction fee and enabled RBF to send your Bitcoin.
Desktop
In your Bitcoin wallet, click Send.
Click Show Advanced to enable the advanced sending options.
Now you will see a slider:
a) Slide left to pay a lower fee. This may save on costs, but could delay your transaction.
b) Slide right to pay a higher fee. This gives your transaction a higher priority.
c) Click the Pencil icon to manually enter a custom fee.
That’s it! You have set a custom transaction fee to send your Bitcoin.
Web3 Wallet
In Exodus Web3 Wallet, open your Bitcoin wallet and click the Send icon.
a) Enter the address and amount. To set a custom fee, b) click on the arrow next to Network Fee.
Double-check that the address is correct. Transactions on the blockchain are irreversible.
Now you will see a slider:
a) Slide left to pay a lower fee. This may save on costs, but could delay your transaction.
b) Slide right to pay a higher fee. This gives your transaction a higher priority.
c) Once you have set a fee you are happy with, click Done.
That’s it! You have set a custom transaction fee to send your Bitcoin.
What should I do if my transaction gets stuck with a low fee?
If you set your custom fee too low or there is a sudden spike in network fees, your transaction might get stuck pending.
If this happens, you can accelerate the pending Bitcoin transaction by paying a higher fee when RBF is enabled.
To learn more about accelerating a Bitcoin transaction, visit: How do I accelerate a stuck Bitcoin transaction?
Can I set a custom fee when swapping?
Custom fees are not supported when using Exodus Swap.
When you swap, Exodus automatically sets the transaction fees based on current network conditions. This helps prevent the transaction to the third-party swap API provider from getting stuck due to low fees.
Increased network activity can lead to higher network transaction fees as senders compete to have their transactions processed. To learn more about why this can happen, visit: Why are transaction fees so high sometimes?
If the fees are high, consider waiting until network activity and fees decrease before continuing with your swap.
You can check the network transaction fees before swapping.
