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Author Topic: Any way to have cheap transactions now?  (Read 1800 times)
nativehasher
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May 31, 2017, 06:09:08 AM
 #1

Due to the increased on-chain tx fees, typical fees has become 0.001-0.002 BTC.

However, poloniex is still able to provide 0.0001 fee withdrawals (which merge a lot of payments together, while having overall 400-500 sat/byte fee, resulting in 0-1 block delay confirmation)

My question is, are they any other (centralized) how wallets where I can keep small amount for daily usage (payments in the range of a few mBTCs)?

I know until recently xapo had free on-chain tx..but now their fees is also in the 0.0005-0.0009 BTC range, which is impractical for $2-5 payments.

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May 31, 2017, 06:22:37 AM
 #2

if the exchange platform is really taking 10,000 satoshi fee then continue using that as your wallet for small amounts, there are other exchanges that do this too. bittrex and c-cex both take 20,000 satoshi last time i checked but know that using a third party no matter if it is a wallet or an exchange will have risks, they can block your account, they can run away, you can get hacked ,...

also change your "typical" transaction and the highest fees that you have to pay will drop down to 75,000 satoshi instead of what you have been experiencing. that means stop reusing addresses and receiving a log of small transactions.
226 byte * 330 s/b = 74,580 satoshi

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May 31, 2017, 06:26:14 AM
 #3

Due to the increased on-chain tx fees, typical fees has become 0.001-0.002 BTC.

However, poloniex is still able to provide 0.0001 fee withdrawals (which merge a lot of payments together, while having overall 400-500 sat/byte fee, resulting in 0-1 block delay confirmation)

My question is, are they any other (centralized) how wallets where I can keep small amount for daily usage (payments in the range of a few mBTCs)?

I know until recently xapo had free on-chain tx..but now their fees is also in the 0.0005-0.0009 BTC range, which is impractical for $2-5 payments.
Theres no where to go but forcibly pay up the fees on which they do require on making transactions thats why i do make use of blockchain.info when in terms of small transaction and just setting up small fees because i am not on a rush thats why i dont bother if that would takes time but in your case better stick on xapo. Exchange wallets making it as a primary is very risky for me.

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krishnapramod
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May 31, 2017, 07:19:07 AM
 #4

Due to the increased on-chain tx fees, typical fees has become 0.001-0.002 BTC.

However, poloniex is still able to provide 0.0001 fee withdrawals (which merge a lot of payments together, while having overall 400-500 sat/byte fee, resulting in 0-1 block delay confirmation)

My question is, are they any other (centralized) how wallets where I can keep small amount for daily usage (payments in the range of a few mBTCs)?

I know until recently xapo had free on-chain tx..but now their fees is also in the 0.0005-0.0009 BTC range, which is impractical for $2-5 payments.

Fees are adjustable on most of the wallets, but the point is sending a transaction with a fee below 0.0005 or less than 200 Sat/B would at least take more than 24 hours to get confirmed. Since you only want to keep a small amount for daily usage, try freebitco.in, https://bitcointalk.org/index.php?topic=1922196.0

You might be aware that it is not a regular wallet, but faucet cum gambling site. Minimum transaction is 0.0003 with a slow transaction fee of 0.00012, but remember slow transactions can take anywhere between 6 to 24 hours to get confirmed.

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May 31, 2017, 07:25:56 AM
 #5

Due to the increased on-chain tx fees, typical fees has become 0.001-0.002 BTC.

However, poloniex is still able to provide 0.0001 fee withdrawals (which merge a lot of payments together, while having overall 400-500 sat/byte fee, resulting in 0-1 block delay confirmation)

My question is, are they any other (centralized) how wallets where I can keep small amount for daily usage (payments in the range of a few mBTCs)?

I know until recently xapo had free on-chain tx..but now their fees is also in the 0.0005-0.0009 BTC range, which is impractical for $2-5 payments.

If you wish to have low fees transaction wallet means you can use multibit wallet. It has 0.0002 btc as default fees for the transaction. You can use any payment processor like bitpay to blockchain to get the amount transacted. I hope multibit is best wallet among all the wallet providers. I have checked the low fees optional wallet in Google search. Most of the site says multibit and bitcoin core is on the top.


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May 31, 2017, 07:29:04 AM
 #6

If you like centralisation, you could use Coinbase.  They allow free offchain transfers between accounts, but you have to realise that Bitcoin would no longer be a trustless system and you have to believe that Coinbase won't mess around with the numbers in your account.

But there aren't any free onchain solutions that I can think of.  Some gambling sites will cover the fees for you, but they could suspend your account if they suspect you of using it as a wallet.

Inevitably you're going to pay high fees if you want to do normal onchain transactions with other users here.

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May 31, 2017, 07:35:05 AM
 #7

nativehasher, you're not looking way beyond the problem. You can do one of some things. You can set up a node and call for UASF or BU, which ever you want and you can convert some of your bitcoins and start using an altcoin like litecoin.


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May 31, 2017, 07:39:46 AM
 #8

There is a web based wallet wich is not charging fees for sending transaction. I am using it since long time but never noticed it as i didn't care. I discovered it 2 weeks ago about, when i wanted to know their fees to compare
I don't advice to use freebtco.in as a wallet like someone mentionned above. Seriously it is one of the latest place to use as a wallet to put yout bitcoin.

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May 31, 2017, 07:42:41 AM
 #9

There is a web based wallet wich is not charging fees for sending transaction. I am using it since long time but never noticed it as i didn't care. I discovered it 2 weeks ago about, when i wanted to know their fees to compare
I don't advice to use freebtco.in as a wallet like someone mentionned above. Seriously it is one of the latest place to use as a wallet to put yout bitcoin.

Why don't you tell us which wallet this is?

Both Coinbase and Xapo were used to be free, but this changed not long ago. Only when you send coins within Coinbase or Xapo it's free, when you send it outside their own network you pay the fee.


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May 31, 2017, 07:45:30 AM
 #10

You could get the decreased fee through the blockchain wallet through the manual fee option. For the same you need to wait for a longer time period for confirmation. While making the transaction itself it suggests that the fee provided is low, sometimes the transaction might not gets confirmed.



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May 31, 2017, 07:46:49 AM
 #11

Try to use alts if possible. Pick those alts that are faster and with cheaper fees. You may also try to check some in your place as some countries have local wallet provider that offers fast and cheap transactions internally. Else Poloniex is the cheapest.

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May 31, 2017, 07:58:41 AM
 #12

Due to the increased on-chain tx fees, typical fees has become 0.001-0.002 BTC.

However, poloniex is still able to provide 0.0001 fee withdrawals (which merge a lot of payments together, while having overall 400-500 sat/byte fee, resulting in 0-1 block delay confirmation)

My question is, are they any other (centralized) how wallets where I can keep small amount for daily usage (payments in the range of a few mBTCs)?

I know until recently xapo had free on-chain tx..but now their fees is also in the 0.0005-0.0009 BTC range, which is impractical for $2-5 payments.
Poloniex have fee every time you buy and withdrawals of your bitcoin so not bad with that fees in a exchanger site but they really earn a lot in a fees but i guess all of the transaction have high fee and we cant have a cheap fee because the bitcoin price is increasing in rapid rate so the fees also increases.

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xx-man
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May 31, 2017, 08:08:43 AM
 #13

You could get the decreased fee through the blockchain wallet through the manual fee option. For the same you need to wait for a longer time period for confirmation. While making the transaction itself it suggests that the fee provided is low, sometimes the transaction might not gets confirmed.

Maybe most people like that, do want to be confirmed in the withdrawal, but they do not want to bear the high cost, how fast can peroses, sedangankan they always set a very low cost for it.

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May 31, 2017, 08:27:11 AM
 #14

You could get the decreased fee through the blockchain wallet through the manual fee option. For the same you need to wait for a longer time period for confirmation. While making the transaction itself it suggests that the fee provided is low, sometimes the transaction might not gets confirmed.
i think blockchain is a good decision to get low fee transaction with some risk that it will take some long time to get 1 confirmation. but if the OP can wait his transaction even it is take long time, he can use blockchain

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May 31, 2017, 08:39:12 AM
 #15

You could get the decreased fee through the blockchain wallet through the manual fee option. For the same you need to wait for a longer time period for confirmation. While making the transaction itself it suggests that the fee provided is low, sometimes the transaction might not gets confirmed.
i think blockchain is a good decision to get low fee transaction with some risk that it will take some long time to get 1 confirmation. but if the OP can wait his transaction even it is take long time, he can use blockchain

Most wallets will allow the transaction fee to be manually selected. I wouldn't use it on blockchain.info, because the transaction may be bigger than expected and have dust outputs, making the fee/kb and the priority really low. They always change the address for each deposit, so when you withdraw you'll have lots of inputs. Even the recommended fee makes the transactions stuck for a long time in some situations


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Alvin RS6
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May 31, 2017, 08:43:58 AM
 #16

Try to sell BTC for alts, ie. Ripple is good because of fast transactions.
Eric Cartman
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May 31, 2017, 08:51:43 AM
 #17

Try to sell BTC for alts, ie. Ripple is good because of fast transactions.

But not all places that accept Bitcoin will accept Ripple too.

And yo make the conversion you'll have to pay one or two transaction fees(one to send to exchange and other to withdraw).

Unless the site accepts the alt, the problem would only get worse

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May 31, 2017, 09:04:07 AM
 #18

Bitcoin has become unusable for me. I've been following  iota for years. Most people still dont realize how much different this project is. Its a total new technology, the tangle is a technology after blockchain, a 3.0 of digital currency. No fees, scalibility problems, quantum secured (ternary solution) and perfect designed for IOT. The pressure will be huGe when IOTA enters market. I mean its a game changer. Never seen a project like this before, and I am long time involved  into crypto. Most ICO investors will hold their iotas, still after 1 1/2 years, cause this one is unique.
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May 31, 2017, 09:10:03 AM
 #19

Due to the increased on-chain tx fees, typical fees has become 0.001-0.002 BTC.

However, poloniex is still able to provide 0.0001 fee withdrawals (which merge a lot of payments together, while having overall 400-500 sat/byte fee, resulting in 0-1 block delay confirmation)

My question is, are they any other (centralized) how wallets where I can keep small amount for daily usage (payments in the range of a few mBTCs)?

Actually there is an option to not pay fee at all but you are limited where to send and receive money from, coinbase does not charge fee if the sender and receiver are coinbase's client.

If you are moving the bitcoins from one exchange to another one then the best way is to exchange them in eth or any other altcoin transfer to other exchange and then convert back to bitcoin and hopefully earn a profit if the price gets increased.


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BTCLovingDude
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May 31, 2017, 09:14:08 AM
 #20

Try to sell BTC for alts, ie. Ripple is good because of fast transactions.

first of all the price volatility is terrible in alts, specially Ripple. it can be one thing now and half that amount the other minute.

secondly you will have to pay a lot of fees in the process of exchanging bitcoin to alts anyways so in the end it is not really worth it (a transaction fee to deposit to exchange address and 1 trade fee to trade to alt, 1 alt transaction fee to withdraw) bitcoin fee is not that high

and finally there is nowhere to spend any alts, specially Ripple.

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