Strategies To Save Bitcoin Fees?

[Shivay]

Most recently, Bitcoin's network fees have increased to a point where it's unfeasible to send small payments on a daily basis. SegWit is a solution to save from high fees, but not everyone supports it. Exchanging Bitcoin to an altcoin could be an option, but you'd still have to pay the network fee for the transaction to get processed on the Blockchain.

If there was a working strategy to save as much Bitcoin fees as possible, it would certainly prevent me a lot of "headaches". Do you happen to know of effective strategy to save off Bitcoin fees right now? Any suggestions or recommendations will be greatly appreciated.

 

[Akinwale701]

Most recently, Bitcoin's network fees have increased to a point where it's unfeasible to send small payments on a daily basis. SegWit is a solution to save from high fees, but not everyone supports it. Exchanging Bitcoin to an altcoin could be an option, but you'd still have to pay the network fee for the transaction to get processed on the Blockchain.

If there was a working strategy to save as much Bitcoin fees as possible, it would certainly prevent me a lot of "headaches". Do you happen to know of effective strategy to save off Bitcoin fees right now? Any suggestions or recommendations will be greatly appreciated.

The best strategy to save yourself High sending fee is to use a wallet your recipient is using. if you're a bitcoin merchant, buying and selling, kindly adjust your the wallet you're using to the one being used by your supplier and your buyer as well. Also, when sending on Block chain, avoid sending with priority... It takes a lot of bitcoin.

 

[Dowenship]

Most recently, Bitcoin's network fees have increased to a point where it's unfeasible to send small payments on a daily basis. SegWit is a solution to save from high fees, but not everyone supports it. Exchanging Bitcoin to an altcoin could be an option, but you'd still have to pay the network fee for the transaction to get processed on the Blockchain.

If there was a working strategy to save as much Bitcoin fees as possible, it would certainly prevent me a lot of "headaches". Do you happen to know of effective strategy to save off Bitcoin fees right now? Any suggestions or recommendations will be greatly appreciated.

I think this might lead to extinction of bitcoin. When its highly expensive to transact. It can lead to its extinction how? When people realize that there are other altcoin with less fees and more profitable, they will run from it now.

 

[Patrik]

if you think that the fees are so high for that they are considered as a huge amount for you, i advice you to wait till you gather a higher amount then transfer it, this way, the fees will be low compared to the huge amount you are transferring

 

[Ralphjoe]

The strategy that I was newly taught to save up on fees when I want to buy or sell cryptocurrencies on my Luno wallet is by selling the Cryptocurrency on the trading exchange rather than selling it to Luno itself. This way the fees will be so small that will be charged on the transaction.

 

[Shivay]

I think this might lead to extinction of bitcoin. When its highly expensive to transact. It can lead to its extinction how? When people realize that there are other altcoin with less fees and more profitable, they will run from it now.

Yeah you are correct but still people are looking towards storing only bitcoin instead of swapping and pooling other cryptocurrencies with bitcoin , even i also found this as a issue for me while trading with satoshis of bitcoin
It makes it really difficult.

 

[Goodday]

Most recently, Bitcoin's network fees have increased to a point where it's unfeasible to send small payments on a daily basis. SegWit is a solution to save from high fees, but not everyone supports it. Exchanging Bitcoin to an altcoin could be an option, but you'd still have to pay the network fee for the transaction to get processed on the Blockchain.

If there was a working strategy to save as much Bitcoin fees as possible, it would certainly prevent me a lot of "headaches". Do you happen to know of effective strategy to save off Bitcoin fees right now? Any suggestions or recommendations will be greatly appreciated.

Most at times the only solution is always to just send bitcoins in large quantities to beat transaction fees. If it's also from your main wallet to another wallet, network congestion can be the cost of high fee. So it's also good to always be on the look because when network congestion is less, fee always reduce.

 

[Adetayo100]

Consolidate your microdeposits in another third-party wallet, then send a larger amount to Wirex as one single transaction. ...

If you are used to exchanging small amounts regularly, it might help to use larger amounts with little or no charges.

 

[iamgroot]

Most recently, Bitcoin's network fees have increased to a point where it's unfeasible to send small payments on a daily basis. SegWit is a solution to save from high fees, but not everyone supports it. Exchanging Bitcoin to an altcoin could be an option, but you'd still have to pay the network fee for the transaction to get processed on the Blockchain.

If there was a working strategy to save as much Bitcoin fees as possible, it would certainly prevent me a lot of "headaches". Do you happen to know of effective strategy to save off Bitcoin fees right now? Any suggestions or recommendations will be greatly appreciated.

I think when it comes to bitcoin transaction fees I can think of no solution to reduce its charges. The only way I can think of so that you do not have to worry about transaction fees is by converting them into other coins with low transaction fees like xrp and others like them with low transaction fees.

 

[Jomarie05]

The strategy that I was newly taught to save up on fees when I want to buy or sell cryptocurrencies on my Luno wallet is by selling the Cryptocurrency on the trading exchange rather than selling it to Luno itself. This way the fees will be so small that will be charged on the transaction.

 

[Kelly5]

Most recently, Bitcoin's network fees have increased to a point where it's unfeasible to send small payments on a daily basis. SegWit is a solution to save from high fees, but not everyone supports it. Exchanging Bitcoin to an altcoin could be an option, but you'd still have to pay the network fee for the transaction to get processed on the Blockchain.

If there was a working strategy to save as much Bitcoin fees as possible, it would certainly prevent me a lot of "headaches". Do you happen to know of effective strategy to save off Bitcoin fees right now? Any suggestions or recommendations will be greatly appreciated.

Bitcoin fee cannot be avoided in any way by anybody. If you are talking of a strategy for you to save on Bitcoin fee, it will only make sense to always withdraw you Bitcoin in bulk anytime you intend withdrawing to save you fees you'd have paid when withdrawing I'm bits.

 

[Erik4150]

The only strategy I use to reduce bitcoin transaction fees is by sending bitcoin in large quantity and by large quantity I mean not less than $100.
Most people don't understand this. But the higher the quantity, the lesser transaction fees.

 

[Shivay]

Most at times the only solution is always to just send bitcoins in large quantities to beat transaction fees. If it's also from your main wallet to another wallet, network congestion can be the cost of high fee. So it's also good to always be on the look because when network congestion is less, fee always reduce.

Okay , That is a good idea , if a person has high amount of bitcoins then he can definitely trade in it but for me the fees is too high. Which wallet do you use for btc transactions?

 

[Nurudeen]

I don't think there are any strategic plans to use to evade the Bitcoin transaction fee for members or Investors. The real reality is that as the price of each coin is going up so is the price of the transaction fee going up. We all saw the surge Bitcoin in the last couple of months so the transaction fee will definitely go up too

 

[Cee C Chriss]

If you want to truly benefit from crypto currency, you will have to think about the long term investment. Short term investment will give you little profit. The best strategy to benefit from crypto currency is to hold them for at least 5-10 years. In 2015, bitcoin was $400, now it is $33K. Look at the price growth in just 5 years.

 

[Seun4luv]

Consolidate your microdeposits in another third-party wallet, then send a larger amount to Wirex as one single transaction. If you are used to exchanging small amounts regularly, it might help to use larger amounts.

 

[Goodday]

Okay , That is a good idea , if a person has high amount of bitcoins then he can definitely trade in it but for me the fees is too high. Which wallet do you use for btc transactions?

People do recommend coinbase wallet but l have never sent out bitcoin to check the fee. Now l'm using blockchain wallet and it seems it's better in terms of fees. But as I said earlier, fees varies and network congestion is the main determinant of fees generally.

 

[Sammyesx]

High fee is one of the problems of bitcoin transactions. I make use of luno and whenever I want to sell, I sell through exchange that way the fee is very low or most times no fee, am only charged when I withdraw the money into my bank account.

 

[Kiko]

Estimation game. But while users wait for mass SegWit adoption, they can reduce fees individually using fee estimators. Although early bitcoin wallets didn’t let users choose fees, this has changed, with many bitcoin wallets providing fee estimator tools to help users decide how much of a fee they should attach to their transaction to get it through the network in a timely manner. Longer-term tools. While the idea of batching a bunch of smaller transactions into one big transaction has been used in the traditional payments space for some time, it’s becoming more popular for bitcoin businesses that facilitate payments.

 

[Abbas ali]

The general advice to reduce your blockchain fee would be:

• Consolidate your microdeposits in another third-party wallet, then send a larger amount to Wirex as one single transaction. ...
• If you are used to exchanging small amounts regularly, it might help to use larger amount