Strategies To Save Bitcoin Fees?

[Shivay]

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.

Yeah , Luno is a much better option for it as the congestion fees they have included in their app is realky low as compared to the coinbase and even the blockchain wallet.
I will try to use it.

 

[Hasan Raza]

You can save the fee it you get the devs to remove the 2 policies of fee's. Put bitcoin back to treating full data as full data. Stop them making legacy transactions 4x more just because the devs decided.The devs can easily remove this multiplier. but they chose not to.
dont blame bitcoin. blame the devs. the fee policies about treating legacy and segwit differently didnt pop up by magic.. devs wrote it also as separate methods of saving on fees
devs could easily decide to make 10byte=1sat in the underlying fee policy. thus making transactions cheaper.it wont break bitcoin.
EG if a TX is 458bytes. the fee policy can round it to 460. and then suggest 46sat fee

 

[mcjerry]

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.

There is no strategy or magic to reduce bitcoin transfer fees. There are some wallet that makes you change the transfer fee to your desired amount. But the problem there is that if you set it to small amount, your coin will not get to the destination on time. It might spend days, weeks, months to get to the destination

 

[Alogakho Esson]

I think they best way to safe money on lonu wallet of the crypto currency then when it grow sell it or buy Bitcoin with it from a member who is online that is willing to sell his own wallet online

 

[Setho]

I think this is a problem the lat needs a lot of attention because it is unfair and it might lead to an extinction of this Cryptos. Fees are mostly being played to miners who verify this transactions.
A way of doing thus is reducing the amount of confirmations required for a transaction to be processed and instead emphasising on accuracy.
A more realistic one is automated systems but that will create too many risks.

 

[ahmedo24]

I think they best way to safe money on lonu wallet of the crypto currency then when it grow sell it or buy Bitcoin with it from a member who is online that is willing to sell his own wallet online

That's the strategy I want to use now though I am currently recertifying the verification issue I have with luno,once that is done I will be more active in buying and selling of coins on luno and Binance because that is the way forward now.

 

[Emma Aneni]

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.

 

[FreshKaz11]

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.

Although I came in here to this trend to learn more on how to save our bitcoin,recently I just open a blockchain account not yet fund tho,but as soon as possible I will get it funded...
But with all have read about people comments on how to save bitcoin will make me do well I guess ..
I really wish more people that have great idea could comment on this trend ...
Glad to be in this platform ,because I learn a lot everyday by day ...
Thanks and stay safe

 

[Judee201]

I don't even know why they are advocating bitcoin to take over payment method in the future when the transaction fee us too high.

There was a payment I was to make online with bitcoin, I had to yet another payment method because of the high fee if Bitcoin

 

[Sarfraz Ali123]

When the Bitcoin network is extremely busy (e.g. when the price spikes and many users will bid up their fees in order to prioritize their transactions.
This can cause fees to become ridiculously expensive. If you can delay a transaction to a time when the network is less crowded you may be able to save a lot of money on fees.

 

[Ridorz]

I think that Bitcoin has set/fixed the amount of fees for any transaction making. So, there is no how the transaction fees can be avoiding or reduce by anyone. But only suggestion is that you should not make a small transaction so that the fees will not be inconvenient for you. But if you make a big transaction the fee will not much for you.

 

[Quert]

In the conventional payment space, it has been used for some time to batch a bunch of smaller transactions into one large transaction, becoming more common for Bitcoin businesses that facilitate payments. According to one calculation, if more businesses use this function effectively, bitcoin transaction fees could be reduced by as much as 80 percent.

 

[Thosynho]

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 really don't think or let me say I don't know if there is any way you could beat the change charge of Bitcoin. This is what banks do too. You are charged for every transfer made especially to other banks. If there are ways we could beat the price then it's better.

 

[Shivay]

I really don't think or let me say I don't know if there is any way you could beat the change charge of Bitcoin. This is what banks do too. You are charged for every transfer made especially to other banks. If there are ways we could beat the price then it's better.

You have given perfect exmaple of banks , They charge less fees for same banks but more fees when sending to outer banks.
But in Cryptocurrencies even if i send btc from coinbase to coinbase they charge the same fees

 

[Niftyyem]

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.

I use Luno most times and I have never explored the option of selling through exchange. Can I conclude that you meant Luno exchange? I really would like to know the best way to save more funds while selling or sending.

 

[Axad. Mrb]

Blockchain fees depend on several factors including network congestion, transaction confirmation times (affected by liquidity providers), and transaction size (as measured in kilobytes; affected when converting crypto from multiple inputs such as faucet earnings or other micro-transactions).

 

[Olahab]

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.

 

[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 still don't know why the transaction fee is on the high side. Well probably their plan is to shift an average income person out pic the game, but for wealthy and famous men to dominate the currency. May Be that the plane

 

[Yaqoob Habib]

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

Transactions fees are the talk of the bitcoin ecosystem,with many user upset by the rising cost to send funds. Uses the transactions wallet with low transactions fees.
* wirex/android/IOS.
* Xapo /android /IOS.
* Mycelium wallet/android/IOS.
*

 

[iamgroot]

The only way you can save gas fee during transaction, is to convert btc to other coin with low gas fee. Then transfer it to the destination wallet, after that you just iconvert if you want to hold it in btc.