Knowing the account type is an essential part of calculating your fees correctly, and if you do not overpay to do this, you must know the Transaction size.
This table below will show you the basic differences and how to calculate them manually, but you can use the tool
https://bitcoinops.org/en/tools/calc-size/ that will help you do this directly.
Type | Input vbyte | Output vbyte | transaction vbyte
-------------------------+----------------- +----------------------+--------------------------
Legacy | 140 | 34 | 192
segwit | 93 | 32 | 134
Native segwit | 68 | 31 | 109.5
P2TR | 57.5 | 43 | 111
If you notice that for the same number of input and output addresses, the transaction size differs because we use a different address type or in other words Using an address type saves more fees than other types, so
it is always recommended to use addresses starting with bc1 to reduce fees.
The wallet performs this step automatically, so if you do not understand it, always remember to use an address that begins with bc1.
After using the address, you need to search for the appropriate fees, which are what you find in mempool priorities. These fees are an estimate of the time that you have to wait, but this time may differ from the truth, and we can say that the difference between them is:
- Low Priority: There is a high probability that your transaction will be confirmed within 30-60 minutes
- Medium Priority: There is a high probability that your transaction will be confirmed within 20-30 minutes
- High Priority: There is a high probability that your transaction will be confirmed within 10-20 minutes
They are all guesses.
If you are in a hurry to confirm your transaction, use the bc1 address open
https://mempool.space and set the High Priority fee (more than these fees will help confirm your transaction, but do not pay much more than them. If it is 90, put in your wallet any number between 90 and 120)
This way, you will be able to calculate your fees correctly and know whether you are paying the appropriate fees or not.
I've already talked about the topic here
https://www.altcoinstalks.com/index.php?topic=315253.msg1472626#msg1472626https://www.altcoinstalks.com/index.php?topic=315253.msg1468310#msg1468310