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Author Topic: How to avoid high bitcoin transaction fees?  (Read 273 times)
triads
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January 03, 2018, 01:28:26 AM
 #41

Reduce the number of payments and only send/receive large amounts.

Also, check the mempool before you send:

https://dedi.jochen-hoenicke.de/queue/#24h

Wait till it has dropped before sending, and you increase the chances that you receive your coins quickly.

The other option is to use another coin. Ask the people who are sending the coins whether they can use litecoin or doge instead. It's cheaper and quicker.

Avoiding using BTC is not a 'solution'. That so many posters are suggesting it bodes poorly for Bitcoin. Segwit or not, if the crypto can't handle the volume without a $26 transaction fee (which is the current average), it has lost it's original purpose.

For comparison, the average transaction fee for VISA or MasterCard is $2.
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steveabrahams
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January 03, 2018, 01:45:46 AM
 #42

hey guys
i need a clear & technical answer:

How to avoid high bitcoin transaction fees?
i receive 10-20 payment per week , so how to avoid increase of transaction size?

How "transaction size"  & Transaction Fees in blockchain work?



Try to not use bitcoin for micro transaction and change into altcoins like dogecoin that have low fee or you can collect it and send it every months, not every week to avoid the fees. Always check this site https://bitcoinfees.earn.com to check how the normal fee and check the last block that mined.
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January 03, 2018, 08:09:04 PM
 #43

hey guys
i need a clear & technical answer:

How to avoid high bitcoin transaction fees?
i receive 10-20 payment per week , so how to avoid increase of transaction size?

How "transaction size"  & Transaction Fees in blockchain work?



Try to not use bitcoin for micro transaction and change into altcoins like dogecoin that have low fee or you can collect it and send it every months, not every week to avoid the fees. Always check this site https://bitcoinfees.earn.com to check how the normal fee and check the last block that mined.

I expects that bitcoin transaction fees would be reduced after the hard fork has been done but unfortunately nothing changed bigger in the chart as I noticed in all the online wallet provider sites.
You need to wait for more weeks to find the bitcoin transaction fee reduced and until that we have to manage the transaction for big number alone not with the value for cheap transaction as you said.

HODLER Open Source Multi-Asset Wallet infrastructure test with $2000 worth of bitcoin for the participants. Read more here: https://bitcointalk.org/index.php?topic=5032817.msg46184177#msg46184177
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January 03, 2018, 08:17:17 PM
 #44

Use segwit address, it should lower the cost for sending coins Smiley
If your wallet is not segwit ready yet, then you might want to convert some of your coins into another altcoins, Bitcoin will be stored for long term use while while alts for everyday use.

There's also lightning network that currently in testing and it should help our problem with transaction fees and time tremendously.
You can try to test Lightning Network on Bitcoin Testnet though, https://www.reddit.com/r/Bitcoin/comments/7ieuki/how_to_test_lightning_network_on_testnet/
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January 03, 2018, 08:25:22 PM
 #45

Use segwit address, it should lower the cost for sending coins Smiley
If your wallet is not segwit ready yet, then you might want to convert some of your coins into another altcoins, Bitcoin will be stored for long term use while while alts for everyday use.

There's also lightning network that currently in testing and it should help our problem with transaction fees and time tremendously.
You can try to test Lightning Network on Bitcoin Testnet though, https://www.reddit.com/r/Bitcoin/comments/7ieuki/how_to_test_lightning_network_on_testnet/
Lightning network is the solution for fast, cheap and microtractions, i hope it's gets released asap. see lightning network in action (https://youtube.com/watch?v=a73Gz3Tvx3k&time_continue=2). we also need to ask bitcoin sites/services to enable segwit address/wallet.
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