Diar reports: bitcoin fee may vary with time zone
Diar reports: bitcoin fee may vary with time zone
Bitcoin

Diar reports: bitcoin fee may vary with time zone

By Fabio Lugano - 15 Feb 2019

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A report published on the Diar website shows that there is a significant difference in bitcoin fees depending on the phase of the day and the time zone in which the transaction takes place.

The analysis carried out by the Diar shows that if transactions are made at thirteen UTC, what was once called “Greenwich Time”, the fees cost more than those made at other times of the day.

diar reports bitcoin fee

Compared to a transaction carried out after 18:00 and until 12:00 you risk paying double the fee.

The range between 1pm and 3pm is the most expensive ever, at least for the British who have a time zone with a difference of one hour compared to Central Europe.

The reasons are probably related to the number of transactions that take place in that specific time slot that corresponds to the early working afternoon for Europe, but also in the early morning on the American East Coast.

Evidently, although trading can take place at any time of day, people still have day/night cycles not apt to the blockchain.

Fabio Lugano

Graduated with honors from Bocconi University, Fabio is a consultant for companies and wounded shareholders of the Banche Venete. He is also the author of "Scenari Economici", and lecturer and analyst of cryptocurrencies since 2016.

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