Oddbean new post about login | logout What fee should you expect to pay to send a few hundred thousand sats over #lightning? My last transaction almost would have been cheaper on chain. #asknostr
Sounds like your method of doing the lightning transaction might be charged a service fee on top of the transaction fee. But the cost will always depend on the number of routing hops the transaction needs to take. My lightning node charges a 1 sat fee, but each node operator is free to set their fee as desired. The routing logic always takes the cheapest route to complete the transaction.
The transacrion was sent from Wallet of satoshi but was sent to my own lightning node. I am just not sure if this level of fees is normal for lightning or if it is high. I am also wondering if it is due to the default LSP that I was connected to and if I would be better off opening my own channels.
About 20-30 sats. I am routinely sending 1-2m sats for less than 100 sats fee
Thanks for the reply. I paid over 300 and was not sure if that was normal for lightning or expensive. Seems like it was expensive.
It's tales like this that trouble me somewhat as I study in preparation for spinning up a lightning node on my server...🤔😮
The fees have not been bad but just not zero. And on chain fees are so low now that it makes comparing a bit unfair. I am still learning about how connecting to different LSPs change fees but for now it seems like transactions cost about 0.1% in fees.