Bitcoin Forum

Yesterday, I was talking with my friend that he spends a lot for Bitcoin Transfers for fees.
Using BlockChain that cuts a lot of fees which is necessary but unnecessary for me like peoples. who does little transactions and cuts a lot fees.


What is Bitcoin Network Fee?
Bitcoin Network fee is charged by miners who mine the BTC's and they take this fee for confirming the transaction. I didn't found instant confirmation yet anywhere but Coinbase does it faster than Blockchain I guess.
Anyways, you have to give fees if you use BTC.

How to get rid of this fees?
There's no way! Actually you have to pay the fees in order to get your transaction confirmed.
So this is a necessary thing, but some Service Providers pays the fees from their pocket or take it from zero fee confirmation. There was Coinbase before years doing this to gather new customers.

Today... I want to introduce XAPO Service which is same as Blockchain, Coinbase and let you send BTC's without fees.
I started loving it since I use it. The way of their website security is high, they use bitpay api & block.

       
Shearing Is Caring... My New XAPO BTC Wallet: BTC 3JF19reYGAaowUnQa123rRSUNR82axRQU9

The information that you have posted is not new at all. And I am sure this would have been discussed before. Yes people are frustrated with the fees and yes xapo is a way to save on the fees. But if both the parties are coin base users, then there is no fees for the same. I wonder are you writing your xapo address so that some one reads this article and sends you money in Bitcoin cause you have written about xapo not taking fees. Good luck with that.

just a couple of things:
- don't add size to your whole topic, it is annoying because it gets unnecessarily big.

- there are two ways to reduce fees:
1. don't reuse addresses to receive a lot of small transactions. try to keep the number of outputs (received transactions) to a minimum. spending 1 output costs about 30K-40K satoshi while spending multiple outputs consts more depending on how many they are.
2. you may already be using this but upgrading to newer wallets will generate new version of private keys (compressed) and that will make your transactions a little smaller.

- use wallets that suggest the appropriate fees such as Electrum or Core

- if you are making a lot of payments, try combining them all into one instead of paying one by one.

- XAPO and Coinbase are third party accounts not bitcoin wallets and they come with their own risks. you can get hacked or they can easily block your account.

There are lots of exchanges not only xapo that shoulder the transaction fee.  And indeed this is not news at all.  Even some gambling site shoulder the transaction fee which I can name, FortuneJack, as one of them.  With the free transaction fee came the risk because in Xapo you are not holding the private key to your Bitcoin address, same with other online wallet out there.

This isn't anything new though, and I don't know why this seems to be such a shock to OP. It's not like these websites have been doing the same stuff for years or anything, right? :^)

Xapo is a decent choice for an online wallet, but they have their own restrictions as well. Their debit card is a nice touch though, and definitely something that can be useful under the right circumstances.

Can I import my addresses in there and then use private key to spend my coins or not? because even if they don't provide you with your private keys you could import your own addresses. and why would they pay the fees for us are they in love with us or something?

Better use blockchain.info for now since we're getting late confirmations even paying recommended fees.

That is true. I use Xapo and although so far I had no issues and problems there is a risk because of the private key that you don't hold. Seems that fees are quite an issue lately and I don't know how this will be solved. But I know we have the choice. You can use suggested fees and everything will go fine or you can take risk with very low fees.

I agree with you but  I will suggest you to look at the new update for such types of wallets that are not charging fee for your transaction .
Here I know the two wallets only which are third party and Secondly cames under many questions recently ( mostly coinbase) .
if you will see at the blog of coinbase and xapo( for xapo not sure ) then you will find that they started to charge for the transactions .
That is good for the development of the coinbase wallet and services because a big amount of earning of the coinbase was losses​ in the paying transaction charges .

It isn't really not paying fee. Technically it is Xapo which is paying the fee for you. Coins.ph ( a local exchange) also have the same feature where they are the ones paying for your transaction fee. Tho it always isn't a very good option nowadays because they are paying the minimum which I think is around 10k to 25k satoshi which sometimes isn't enough to get your confirmation confirm as fast as you want.

Yes. I saw Coinbase started charging for transactions from their new update. This is something like business strategy-
"While they're new in market they gives some offers, discounts etc to attract peoples" I know Xapo will also do it in future."
But meanwhile why don't enjoy it  ;D

Yes xapo will do the same in future. 20k sat fees isn't that high in my opinion.
you can use viabtc's tx acceleration tool if you set lower fees. https://www.viabtc.com/tools/txaccelerator/

Yep! I'm aware of that. They do it only for their business spreading nothing else.
Tomorrow or in future they will start charging. Meanwhile we can keep enjoying no fee transactions  ;D
Though, direct block is the best and secured way.

Someone said that Xapo doesn't really pays any fees. They do zero fee confirmations and for that they take long time to process the transaction.
I'm not aware of this already..but I hope this isn't anything illegal.

Nothing new to see here it has been know for a long time that some of those services allow you to send transactions without fees, besides it is not like many users have not thought about that subject for a long time, so every time there is a way around fees the information is shared almost immediately.

I didn't knew about this so thanks for sharing. But I would like to know how much time does it take for the transaction to complete? Is it instant?

Transactions from your Xapo wallet to a btc address outside Xapo will be charged a fee of 0.0003375 (more or less like coinbase) and zero if it is about internal transactions between Xapo accounts. As well, transactions Incoming to your wallet equal to 0.00040095 or less are charged with a fee of BTC 0.0002673 and it is automatically deducted from the respective transaction.
So it is the same, we have to pay the fees.... I heard too about casino sites, but i don't see me, sign up in those sites to have a wallet, it's ridiculous

No! They didn't charged. I had calculated  ;D
Coinbase Have a fee of 0.0004 (40cents) for every transaction.

We must understand that even with these fees getting paid for us by Xapo or Coin.ph or even if other wallets start doing so the transactions will not arrive faster, in the transaction core code there is a default value to fees that go to miners which you can modify them, and all that those wallets are doing are paying this default value and if you want to make the transaction faster you are going have to manually change the fee value so it becomes priorities.

Less than 0.001 takes more than 1 hour, and 0.01 or large amounts takes less time. I got transferred within 30 minutes with 2 confirmation.

xapo and other are probably doing this to increase their userbase, they would charge you later something, it's a known tactic in these sectors of business

probably they don't have many transaction(talking about xapo) now, and can handle to pay out of their pokcets the miners fee but remember that no one work for free in this world, and if yes he is already rich

Are you sure ? You are making me more confused now. Their website is clearly saying that transactions (outside their internal system) will be charged a fee of 0.0003375 https://in.xapo.com/fees/  Only an internal transfer is free... Comparing Xapo fees(0.0003375) or Coinbase fees (0.0004) are near the same i can say. What did you tried exactly ? Are you telling me that the content on their own site is wrong ? It's weird. Let me know, I may switch there too for an online wallet

Yes and right now xapo apply the fees for transaction bitcoin use their service
xapo starts talking profit from business of wallet bitcoin,
they must apply fees to their costumers if they want be survive in business of wallet bitcoin
 or xapo will become scam if there are not fees.

Lol you never realised that there was something like xapo before. It more than 3 years old and i have been using it for a really long time without any problems. And ya they never take fees also. Plus they are the only wallet who allows user to buy bitcoin through bank without submitting any form of id, proof of address , etc.

TD;DR people... Use a privately owned, 3rd party web wallet to hold your bitcoins because you'll save a few bucks on fees**. btw, stop saying blockchain. It's blockchain.info, not THE blockchain. That's a newbie mistake right there.


No begging... It's a forum rule.


**Until they steal every balance from every wallet since they have everyone's private keys. Good luck!

http://i64.tinypic.com/104p6og.jpg
Shearing is caring people. Shear away...

I don't know if you are advertising for XAPO but this additional information is useful for newbies. Please be mindful that XAPO is a third-party company for BTC and that itself poses you to different risks. You don't "actually" have control over your funds. Try using other first-party wallet such as Electrum that requires sufficient amount of fees. There are different ways to lessen your fees in BTC, you just have to research for it.

I haven't used Xapo before but seeing this explained on their website makes me think the OP is wrong or has misunderstood how Xapo taxes transactions:


So can anyone other than the OP confirm or refute these points? Thanks. If there are really no fees for on-chain TX I am going to switch to Xapo!

you can send bitcoins with no fees if you do it entirely off chain
(just give your address/key pair) to your friend.

I think the bitcoin fee is a required amount of money that we have to pay for the transaction, which is indispensable. People need it to maintain the system and make quick transactions. Only a very small amount of free play for us when doing bitcoin transactions, coinbase is a typical example, however, when bitcoin is branched, developers of coinbase have changed that, they put A fee for transactions, and it defaults to 50k satoshi. That's a very high fee for all of us. And I suppose, I hate BU because of the consequences it has caused.

I am using xapo and they have announced that they will be starting to collect transaction fees but they never implemented that,coinbase started collecting fees from last week and even with the fees you do not get instant transaction which is really not that good from them,but xapo is still paying from their pocket and they might implement their new fees structure pretty soon,but till now it is free to use to send coins.

I guess OP is trying to promote Xapo wallets  ;D

On a positive notes, what will happen when more than 50% of bitcoin users will be adopting Xapo wallets ?

Because Xapo to Xapo payments are instant and email based. It means it will never touch blockchain but your Bitcoins will be credited in your account.

To get rid of greedy miners, we may need to centralize bitcoin under Xapo. This is the result if we start using Xapo wallets in large numbers.

The transaction should arrive instantaneously, if the transaction is valid and has the minimum relay fee. Ideally, the wallets can implement a system which has dynamic fee and the fees will be adjusted according to the user's needs and network. Some of those "wallets" sends transactions in batches so as to save on fees.

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The total fee doesn't matter, fee/size does.Likely not. But if it does, the users will have their coins under Xapo's control. The transaction volume would reduce if the transactions are done offchain.

I used xapo for a long time ago. Maybe 2-3 years.
Until now there is no fees to pay. I recommend people to use xapo as a secure web wallet also we don't have to pay fees. Xapo will pay it.
Really it's a great wallet, Never i have a problem with them. You can get a dynamic Bitcoin address, You can enjoy instantly transaction from xapo account to another xapo account, Without any confirmation. Then you can try to use xapo and enjoying with this wallet.

coinbase before very good, so pity..really.
I use blockchain.info, coinbase fee structure more good.

xapo i guess will become centralized like coinbase.
If u not do the gambling or black market , then can use xapo in daily as it have visa debit.

I thought that oneday Bitcoin  transaction become an dream. Recently coinbase started transactions fee, but few days later it was free. So many beginners using this service though there have some restriction. Now Xapo only one wallet which offer free of cosst.

Xapo is as old as the hills my friend and most people on here are already familiar with it. You just need to remember that Xapo tx's is only FREE,

until you go on-chain and if you want to send a transaction to someone that are not a member of Xapo that transaction will go on-chain and you

will pay the normal miners fees. Best solution will be for you to sign up your friends to Xapo, if you want to send coins for free.  ;)

You didn't said anything new, mostly of us know Xapo wallet for a long time. Even if Xapo wallet helps to save money because their transactions is free, I don't think it's a best option to keep bitcoins - we don't have full control of our bitcoins on Xapo, because they don't give private keys.
Also, few months ago Xapo introduced fees for small incoming/outgoing transactions. I think soon they may start to charge all transactions, because it become to expensive to cover all transaction fees from their pocket.
Coinbase already started charge to charge fees because of growing amount of users and increased transaction fees.

Yeah there are few wallets that has no miner fees and you can send some bitcoin without fees,
Sadly the wallet that I really like just got some update and right now they required the user to pay some fee.

With this your analysis its obvious there is no way we can avoid the fees the best is for us to find a way to reduce it to the barest minimum. Even an exchange site that I use with a free transaction all of a sudden start charging a fixed fee if .0002btc but I still think block chain is the best as it apportion the fee according to the transaction intended to carry out...

Blockchain is good but charges fees according to your transaction.

Xapo and coinbase are not actually a bitcoin wallet, they are centralized payment processor and their internal transactions are not truly a bitcoin transaction.

I at all cost try to avoid them because we can't have full control over our bitcoin there. They don't share private keys with you and can lock down your account anytime they want.

I am more confused now.
They say themselves about the fees applied (cf their own website) and the poster above me telling now we can set our own fees



So far i created a wallet there to try, and sent a transaction to another wallet outside their system, and it's ok no fees have been deducted. But from nowhere i have seen a place to decide the fees i want to set

The write obviously didn't know what he was saying. I have been using Xapo for well over a year and there transactions have been with zero fee. Recently, they had to introduces a fee, but that is for transactions less than about 0.00035 BTC, every other transaction I have made above that amount went with zero fee. I don't know about the possibility of setting the fees by ourselves.

I do transactions and they don't charge fees. I usually do 0.01-0.05 !!

I didn't know if xapo still continues transactions without fee. They are old and good wallet service with card. If anyone has experience, are transactions quickly confirmed? Also how do they cover transaction fees? Maybe fee from buy/sell bitcoins, am I right?
For me transaction fee isn't big problem because my bank sends my btc transactions with so high fees :D minimum fee from their side is 0.001 BTC and I have to pay only 0.0001 BTC for that. Result is nearly immediate confirms.

I think coinbase is asking for fee's for every transaction right now because of the miners fee increase .. i just send some few bitcoins in other wallet yesterday and they are asking for miners fee.. unlike before that they don't even asking for transaction fee.
For xapo. i have problem with xapo i can't login with my account even my pin is correct by always try again to confirm the verification..
I think only here in my country has no fee for every transaction which is coins.ph. and i think they will change this rule in the future because of the miners fee increased.

Since it is free, does it confirm early?

Coinbase aint free but the good thing is they charge little like 3000 satoshis or up. Xapo? I think they charge whenever you do transactions that are really low.
I guess that is their way to avoid people from doing a lot of withdrawal at the same time which makes the heavy traffic of transaction. Actually they did a good thing but what about those who are earning little who are just doing faucets. We must understand them too. When they withdraw like 100k sats only they will be charged.

I use xapo, or better to say that xapo was my first wallet. In beginning xapo was ideal for me for all low amount transactions, from all the faucets and micro earnings. I still use that wallet for some micro transactions, their android app is also very good, I have it on my phone. All in all xapo is good wallet and they are here for a long time.

Since usually I never support third party things , I meant party wallet of of bitcoin beside of the official blockchain . But I also used the xapo for the store of the bitcoin for small earning. In the beginning when I started bitcoin with freebitco.in then I used xapo Instead of blockchain Because I found that xapo is best because if I will use blockchain then surely I will lost one week earning of the freebitco faucet .
But Currently I like the blockchain instead more bulk Transaction because after the coinbase news I thinking that may be any problem I can face in the future , so avoid big transition in xapo or coinbase .

it's not entirely free, in the sense that they pay the fee for you, and yes it's usually confirm fast, it's not different than when you withdrawn your money form any exchange in terms of speed

but in that case you pay for fee, now that i think about ti there are exchange that are very fast in sending you the coina nd only spend 20k satoshi...

It's not new that xapo doesn't charges miners fees for sending a transaction, but good to know for people who did not know about that. i may switch some BTC to xapo in future

Yeah , off-coarse Xapo is one of the adopted wallet to avoid transaction fee. It is very secure, multi signature wallet. It is most preferred wallet and i recommend everyone to make it your primary bitcoin wallet

So, is Xapo having losses from transaction fees?

Aren't they charging their users in any other way?

For sending they don't charge any fees, i tested after reading here, but for small transactions there are fees, see their site to see

Bitcoin is doing too much now a days. Asking about $2.00 (Less/More) for every wallet for transfers. This is really very bad for users who do small transaction. I need to send someone $3 and have to pay $2 fee? Thats really embarrassing !!

for now i can't find any bitcoin wallet service that charges no transaction/network fees for sending bitcoin but please whichever one any of us comes across should be posted here immediately to update this thread...

 8)

Any progress on this matter ???

As far as I know, no reputed wallet service providers are not supporting no-fee out-transactions for their customers. Probably switching over to off-chian transactions could be a solutions for you if you are deliberately needing zero fee transactions and you are processing some big number of transactions daily.

Xapo to Xapo and coinbase to coinbase transactions are coming with zero fees. You can ask what wallet a person is using and when you are paying them, you can use same wallet type as per him and by asking them to switch over to one single wallet type can be a long term solutions for you.

C-cex to c-cex (they are exchanges and NOT an wallet service providers) can be done in off-chain mode or by using code also.

These are only the possible ways to use if you do really hate fees which making transactions directly on these exchange wallets but not possible on those web wallets exist online. I cant really think off on a wallet which do charge free on making transfers. Coinbase and xapo do offer these things in the past which they do patch up the fees for their users but as of now they are charging already some fees which is sad.
Sending bitcoins does need fees for it to be confirmed and no one would already patch it up for free considering fees are already high.

I suppose we can noore find such wallet with free send fee because bit coins are now quite expensive and hence no freebies and his from exchanges again

It is not worthy to use them. You would win only a dust amount saving them from the fees being paid by XAPO as an online web wallet provider but on the other side you risk your account to get blocked for different reasons and your bitcoins to remain locked there forever. It has happened to many people here in the forum so it is better to pay the fees and have a wallet which you are in control of everything.

yah youre right, better prioritize your bitcoins security in every situation. although i think only newbies will take advantage on this no miner fees thing that xapo offers when you

send a xapo to xapo transaction besides most newbies use online wallets. the situation is different now, with the high miner fees no wallet provider will shoulder any transactions

fees of their users. both xapo and coinbase offers that back then but they stopped. right now only internal transactions are with no miner fee. and i think with xapos increasing

bad reputation, the time will come when it'll stoop to coinbase level

So how do I get 5o use the c-cex to c-cex off chain mode????

 "if you are making a lot of payments, try combining them all into one instead of paying one by one."

Say I have 1000 ABC tokens (just a made up ERC20 token name) and I want to send 1 ABC each to 1000 separate Myethereum wallets, how can I do this at the least cost method, or no cost?

Can I for example do a bulk distribution sending from Wallet A (my 1000) to many Wallets (1000 of them) and class it as 1 transaction?



 

I think coinbase is asking for fee's for every transaction right now because of the miners fee increase  :-X
Xapo and coinbase are not actually a bitcoin wallet, they are centralized payment processor .
I at all cost try to avoid them They don't share private keys with you and can lock down your account anytime they want.

Have you used any bitcoin online wallets. If you used it before your answer will not this you have answered here. Coinbase and xapo are most of the preferred wallets around forum. miliions of users using coinbase wallet for long time. Keep investing on the bitcoin and buying and holding also can be done by the coinbase trading site. You are this wallet is good means what would be perfect wallet and what wallet you are using?
For private key they will give the information in their FAQs itself.