Method and electronic device for transmitting data

An electronic device and method for transmitting data using Bluetooth communication technology are provided. The electronic device includes a memory, a communication circuit configured to communicate with an external device based on a protocol, and a processor configured to generate second data by encoding first data based on an encoding parameter, to store the second data in the memory, to transmit the second data to the external device through the communication circuit, and to change the encoding parameter based on a remaining storage space of the memory.