Fees and Transactions

[se150401317]

Does Fees for transactions depend upon wallets we use? Are transferring funds from one wallet to another cheaper in one wallet than another?

[1715110652]

1715110652

[1715110652]

1715110652

[1715110652]

1715110652

[1715110652]

1715110652

[1715110652]

1715110652

[1715110652]

1715110652

[electronicash]

probably. i noticed that when sending btc using online wallets where they are the ones who will suggest how much would be the fee, its pretty much higher. the higher the fee when you use the exchange wallets, 0.0015 btc is $8 but this is also because the price of btc is getting huge. you can't expect these wallets to adjust in realtime besides they want to enjoy the money they get.

[xhomerx10]

Does Fees for transactions depend upon wallets we use? Are transferring funds from one wallet to another cheaper in one wallet than another?

 It most certainly does.  However, you can generally take control of the fee.
Use extreme caution if you try this because people have sent a fortune in fees by mistake and generally you can't get it back.

[posi]

Coinbase is the only exchange I use at the moment and I confirmed that sending bitcoin from exchange like coinbase is pretty cheap because they charged me $1 worth of bitcoin for $140 worth of bitcoin transaction but I don't know about the other exchange.

[bL4nkcode]

Does Fees for transactions depend upon wallets we use? Are transferring funds from one wallet to another cheaper in one wallet than another?

Yes, since every wallet has different developers and different ideas. Most wallet that has the same host like coinbase has no fees when sending from coinbase user to coinbase. But there are some wallet which has suggest with a specific which is not totally recommended. And there are some walle that you can input manualy for the fee.

[eckmar]

Depends on a wallet. If a wallet let you set custom fee, always use that and then it should not really matter which one you are using (other than wallets that add their own fee on top of that).

[TryNinja]

Every onchain transaction will require you to pay the same amount in fees. What will change between two different wallet softwares is the way how they calculate the "recommended fee".

Coinbase to Coinbase transactions are totally different since you are not doing any Bitcoin transaction, but only changing numbers inside Coinbase database. Every Bitcoin you deposit at Coinbase will give you a IOU that is worth what you deposited, and this is what you give to someone when you send them a transaction inside the Coinbase system. When you withdraw, they will remove those IOU from your account and send you real Bitcoins.

[se150401317]

Does Fees for transactions depend upon wallets we use? Are transferring funds from one wallet to another cheaper in one wallet than another?

Yes, since every wallet has different developers and different ideas. Most wallet that has the same host like coinbase has no fees when sending from coinbase user to coinbase. But there are some wallet which has suggest with a specific which is not totally recommended. And there are some walle that you can input manualy for the fee.

Thanks everyone.
So now as everyone suggested, wallets differ in their fees.
Which desktop wallet is the cheapest according to you? Most of you only talked about exchanges, but what about desktop wallets?

[Potato Chips]

Does Fees for transactions depend upon wallets we use? Are transferring funds from one wallet to another cheaper in one wallet than another?

Yes, since every wallet has different developers and different ideas. Most wallet that has the same host like coinbase has no fees when sending from coinbase user to coinbase. But there are some wallet which has suggest with a specific which is not totally recommended. And there are some walle that you can input manualy for the fee.

Thanks everyone.
So now as everyone suggested, wallets differ in their fees.
Which desktop wallet is the cheapest according to you? Most of you only talked about exchanges, but what about desktop wallets?

I think you got the wrong idea. The thing is miner fee is the most important factor that determines how fast will a transaction confirms as miners prioritize transactions based on their included fees and certainly not on what wallet the transaction comes. So if you want the cheapest fee, you can have a wallet where you can edit miner fees manually and set it to 0. That is the cheapest although the odds are your transaction/s will get stucked for a few days and might never confirmed.

To answer why some wallet offer cheap fees but don't get their transaction stucked. Most wallets that does this are those who don't give your private keys as you are not actually the one who sends your coins but them. A good example is what TryNinja stated:

Every onchain transaction will require you to pay the same amount in fees. What will change between two different wallet softwares is the way how they calculate the "recommended fee".

Coinbase to Coinbase transactions are totally different since you are not doing any Bitcoin transaction, but only changing numbers inside Coinbase database. Every Bitcoin you deposit at Coinbase will give you a IOU that is worth what you deposited, and this is what you give to someone when you send them a transaction inside the Coinbase system. When you withdraw, they will remove those IOU from your account and send you real Bitcoins.

[Dextroboy]

Does Fees for transactions depend upon wallets we use? Are transferring funds from one wallet to another cheaper in one wallet than another?

Sometimes Yes
Some Wallet Set Their Own Fee Like
Bittrex,Poloniex

Some Wallet Use Automated Recommended Fee Like
Coinbase

At Some Wallet You Can Set Your Own Fee Like
Wallet That You Run By Yourself

Remember
More Fee = More Fast
The Best Wallet Are That Use Recommended Fee Like Coinbase

[Deny35]

Does a cold wallet like Nano S chargue any fee for making transactions to exchangues? as i see you have 3 kind of fees HIGH, MEDIUM AND LOW , but a i can not see the price on any of them.

[se150401317]

Does Fees for transactions depend upon wallets we use? Are transferring funds from one wallet to another cheaper in one wallet than another?

Yes, since every wallet has different developers and different ideas. Most wallet that has the same host like coinbase has no fees when sending from coinbase user to coinbase. But there are some wallet which has suggest with a specific which is not totally recommended. And there are some walle that you can input manualy for the fee.

Thanks everyone.
So now as everyone suggested, wallets differ in their fees.
Which desktop wallet is the cheapest according to you? Most of you only talked about exchanges, but what about desktop wallets?

I think you got the wrong idea. The thing is miner fee is the most important factor that determines how fast will a transaction confirms as miners prioritize transactions based on their included fees and certainly not on what wallet the transaction comes. So if you want the cheapest fee, you can have a wallet where you can edit miner fees manually and set it to 0. That is the cheapest although the odds are your transaction/s will get stucked for a few days and might never confirmed.

To answer why some wallet offer cheap fees but don't get their transaction stucked. Most wallets that does this are those who don't give your private keys as you are not actually the one who sends your coins but them. A good example is what TryNinja stated:

Every onchain transaction will require you to pay the same amount in fees. What will change between two different wallet softwares is the way how they calculate the "recommended fee".

Coinbase to Coinbase transactions are totally different since you are not doing any Bitcoin transaction, but only changing numbers inside Coinbase database. Every Bitcoin you deposit at Coinbase will give you a IOU that is worth what you deposited, and this is what you give to someone when you send them a transaction inside the Coinbase system. When you withdraw, they will remove those IOU from your account and send you real Bitcoins.

Understood. Thank you
Now last question regarding this: Coinbase is an exchange right?
So can I use coinbase to accept small payments like earnings from signature campaigns? Or should I use a desktop wallet for that?

[Potato Chips]

Does Fees for transactions depend upon wallets we use? Are transferring funds from one wallet to another cheaper in one wallet than another?

Yes, since every wallet has different developers and different ideas. Most wallet that has the same host like coinbase has no fees when sending from coinbase user to coinbase. But there are some wallet which has suggest with a specific which is not totally recommended. And there are some walle that you can input manualy for the fee.

Thanks everyone.
So now as everyone suggested, wallets differ in their fees.
Which desktop wallet is the cheapest according to you? Most of you only talked about exchanges, but what about desktop wallets?

I think you got the wrong idea. The thing is miner fee is the most important factor that determines how fast will a transaction confirms as miners prioritize transactions based on their included fees and certainly not on what wallet the transaction comes. So if you want the cheapest fee, you can have a wallet where you can edit miner fees manually and set it to 0. That is the cheapest although the odds are your transaction/s will get stucked for a few days and might never confirmed.

To answer why some wallet offer cheap fees but don't get their transaction stucked. Most wallets that does this are those who don't give your private keys as you are not actually the one who sends your coins but them. A good example is what TryNinja stated:

Every onchain transaction will require you to pay the same amount in fees. What will change between two different wallet softwares is the way how they calculate the "recommended fee".

Coinbase to Coinbase transactions are totally different since you are not doing any Bitcoin transaction, but only changing numbers inside Coinbase database. Every Bitcoin you deposit at Coinbase will give you a IOU that is worth what you deposited, and this is what you give to someone when you send them a transaction inside the Coinbase system. When you withdraw, they will remove those IOU from your account and send you real Bitcoins.

Understood. Thank you
Now last question regarding this: Coinbase is an exchange right?
So can I use coinbase to accept small payments like earnings from signature campaigns? Or should I use a desktop wallet for that?

Yes its an exchange although they also have their wallet services but I won't recommend coinbase to anyone as you will not be creating a wallet but an account because they don't give you your private keys so you're not in fully control of your funds. They can freeze it because of their TOS and most problem/s lies on them so if you have one you have to wait for their slow support.

Earnings from signature campaigns doesn't sound small to me assuming that you're being paid weekly as well as bitcoins price is rising. Yes better use a desktop wallet like electrum. Its a lightweight wallet so you don't need to download the whole blockchain and you're in control of your funds. Theres also a android wallet like mycelium. If you want to save on fees there are many transaction accelerators like viabtc, confirmtx, and on antpool . We also have some here on services board

[XXX_BTC1@]

Does Fees for transactions depend upon wallets we use? Are transferring funds from one wallet to another cheaper in one wallet than another?

coinbase is the very cheap wallet so i would like to do with this wallet. here bit coin buying and selling fee is very low so my choice is to use coinbase only. but few wallets maintain more fee. so it is depends on a wallet few wallets asking more fee but few are less. so it is based on wallet. so you have to pay for few amount of fee for wallet and maintain a secure wallet keeping coins.