Fees

Bit provides a convenient way to get recommended satoshi/byte fees in the form of get_fee() and get_fee_cached(), the latter of which will cache results for 10 minutes by default. Currently, the only service in use is https://bitcoinfees.earn.com.

Each function takes an optional argument fast that is True by default. If True, the fee returned will be “The lowest fee (in satoshis per byte) that will currently result in the fastest transaction confirmations (usually 0 to 1 block delay)”. Otherwise, the number returned will be “The lowest fee (in satoshis per byte) that will confirm transactions within an hour (with 90% probability)”.

>>> from bit.network import get_fee, get_fee_cached
>>>
>>> get_fee(fast=False)
180
>>> get_fee_cached()
240

If recommended fee services are unreachable, hard-coded defaults will be used.

>>> from bit.network import fees
>>>
>>> fees.DEFAULT_FEE_FAST
220
>>> fees.DEFAULT_FEE_HOUR
160