Strategies To Save Bitcoin Fees?

[Shivay]

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

I also thought the same thing why they are increasing the gas fee per byte 9f satoshis because there are 30% of the people who have stopped trading because of it. They should take some action regarding the bitcoin fees , to make it a good payment method for people.

 

[Trojan8]

The truth is that there is nothing you can do as the fees are determined by the network. The only thing you can do is to work on those micro-transactions. You should have a seller that you have a good relationship with and then you consolidate transactions. When it has gotten to a particular amount, you can send all across.

 

[Ahtsham]

In this way, users who don't need to send money right away always have the option to wait for transaction backlogs to die down. Beyond that, there are more roundabout ways to eliminate transaction fees completely, but these are highly dependent on what wallet or exchange provider is used.

 

[Royalty]

Creating transactions that are smaller in size (weight), or which accomplish more for a given size, provide a more efficient way of using scarce block space and so pay less total fee to achieve a feerate that is equivalent to less efficient payments. This section describes several techniques for producing more efficient transactions.

 

[Abisola]

Network Congestion on the Blockchain Competitively Raises Fees. The main reason for high bitcoin miner fees is supply and demand. The bitcoin block size is 1MB, which means that miners can only confirm 1MB worth of transactions for each block (one every ten minutes). ... As a result, miner fees skyrocketed

 

[idhans]

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.

Transaction fees are so high right now in Bitcoin. Other currencies should take advantage of this high gas fees and reduce their transaction fees to get more investors in their cryptocurrency. It's only better for those that are transacting bitcoin worth thousands of Dollars.

 

[singlej007]

There is something I notice about bitcoin fees, it increases and reduce at different time, I notice this on blockchain wallet. But the easiest way I move bitcoin is using trusted exchange instead of wallet, I convert it to xrp or do then move it, when it arrive the destination I convert it back.

 

[nasiusman95]

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

 

[Jlife]

the best strategy I know is that if you want to reduce the transaction fee in cryptocurrency I need to convert the cryptocurrency into a simpler cryptocurrency like repo before you can serve to the person the person buying it will translate to is desired cryptocurrency.

 

[Ehizzy1]

I think the best strategy i would recommend you make use of is to transfer the money to another coin , then make use of it to do the transfer , since most coins like ripple do have very low transfer feelings , so after converting it to riople , then you could start your transfer ,ajd convert it back after doing the transfer i think

 

[Prettybabe]

You can do so by sending Bitcoin in very large quantities. If you are transacting large amount of Bitcoin, the fee will be minimal and you won't get to feel it all. Or you can exchange to altcoins..

 

[Mahnoor]

If u have been using bitcoin to send transactions lately you could notice a rise in transaction costs. In this article we would like to give you a clear picture about whats going on and how you can make the best decision of your self.

 

[Muhammadawais]

How to trade for free

Fund a coin base account using a bank deposit. ...

Transfer your dollars to Coinbase Pro.

Buy Dye, BTC, ETH, LTC, or any other coin that trades on the exchange on which you want to trade using Coin Base Pro (it is cheaper than using Coinbase directly). ۔

Transfer the coin you bought to the new exchange.

 

[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.

You already provide a solution to saving bitching fee but the part of which using Segwit and not everybody super it is convincing. does that mean it doesn't work for everybody. I would also like to know more suggestion

 

[BrolySSJ]

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 don't think that there is any way to avoid it. For those that do accept the bitcoin lightning network then i think that that will be your best alternative, but otherwise when it comes to actual bitcoin this is a flaw in the actual system in my opinion and i think that it needs to be resolved for bitcoin to progress further.

 

[Eodine]

I think the peer to peer options for sending and withdrawal has made it easier to transact crypto and even at a very affordable rate, a platform even charges zero fees to withdraw so it is pretty easy to send and receive bitcoins now.

 

[Suba]

My experience is to avoid high fees if you are going to withdraw Bitcoin from an exchange so I will first exchange it for Altcoins like Doge, then I will withdraw to another wallet or exchange. after that we can convert Doge to BTC

 

[Eodine]

Truly, bitcoin fees are extremely high because of the increase of block chain transactions. But recentlt luno has stated that you can now share bitcoin and other crypto currency across their platform only at zero fees.

 

[Shigobad2020]

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.

Since bitcion is now the most populous crypto currency in the world and 90 percent of people using crypto currency tontrade are now using bitcoin which makes it charges high during transaction, I think segWit works as a solution to reduces the high fee.

 

[Sincerem]

I don't worry myself too much about the high transaction fees around Bitcoin. I exchange my Bitcoin to lower coins at binance, send to anywhere I feel it is necessary to send to. I don't withdraw my Bitcoin's direct, because the charges will.be too high.