Transferring bitcoins and fees

[kctan7373]

I've multiple wallets and I was wondering if I keep transferring bitcoins among these wallets (my own wallets ) will that eventually consume all my coins (keep paying fees )?

[pooya87]

bitcoin doesn't care nor does it know if two addresses belong to one wallet or two different ones. whenever you are creating a transaction and want it to be included in the decentralized ledger called the blockchain, you have to "pay for the space" you are occupying in it. so you have to pay a fee. as a result if you transfer bitcoins between your wallets you will eventually run out of coins.

and by the way, that is how bitcoin fights certain types of spam attacks. if there were no fees, anybody could cripple the network for free. but because of fees it will cost you to perform this type of attack so it can't be sustained.

[perla]

I've multiple wallets and I was wondering if I keep transferring bitcoins among these wallets (my own wallets ) will that eventually consume all my coins (keep paying fees )?

I think even you move between adresses it still need fees. So actually have multiple wallets is a bad idea because you will need higher fees to pay even if want to collect them to be 1 in your primary wallet.

[bL4nkcode]

I've multiple wallets and I was wondering if I keep transferring bitcoins among these wallets (my own wallets ) will that eventually consume all my coins (keep paying fees )?

Obviously, yes, it will, due to every transaction need a transaction fee. Not unless if you use a wallet such coinbase and send to another coinbase wallet which are hosted web wallets that never as ask any fees in transferring funds.

But for what reason you would do that?

[kctan7373]

This is funny, why do you want to keep doing that? Will this not amount to wastage of your funds since they still belong to you, or just an effort from you without any value been added!

I've fractions of coins in multiple addresses so I was thinking to "put" them all into one single address, and now it seems that will cause the fee problem

[Kakmakr]

Why would Bitcoin be any different than say for instance your Bank transfers. We pay small fees to transfer money from one Bank account to another, when we use Banks. <One Banking group to another, not within the same Bank>

A Bitcoin address is the same as having a Bank account at different Banking groups, so you pay miners fees for every transaction.

If you do not want to pay these fees, use centralized online wallets, where these transactions are done within their internal ledger software. <Example : Xapo>  In services like this, different people transfer coins between wallets without any fees, because they use the same wallet provider. <They only pay fees on on-chain tx's>

[bL4nkcode]

This is funny, why do you want to keep doing that? Will this not amount to wastage of your funds since they still belong to you, or just an effort from you without any value been added!

I've fractions of coins in multiple addresses so I was thinking to "put" them all into one single address, and now it seems that will cause the fee problem

Would you tell us if this multiple wallet address belongs to the same public key or the same recovery seed?
If yes, I guess that's okay to do that (but not recommended), since it will only spend a single fee but on the other hand it will cause you higher fee due to lots of inputs (you will see a warning message for sending to your own address on some wallets).

But if not, that's alright but same thing, fee will eat up large fraction of your funds doing that.

[jimskiy]

Why do you use multiple wallet, did you cheat at bounty or airdrop project, you can use your one wallet for transferring your bitcoin to other exchange account with less fee, never use multi account for joining at bounty or airdrop project because is not good ideas.

[boyptc]

Are you planning to keep on transferring your bitcoin to another wallet and pay the "small" fee forever?

[VitKoyn]

This is funny, why do you want to keep doing that? Will this not amount to wastage of your funds since they still belong to you, or just an effort from you without any value been added!

I've fractions of coins in multiple addresses so I was thinking to "put" them all into one single address, and now it seems that will cause the fee problem

Bitcoin transaction fees should not be a problem right now. If you are willing to wait for slower confirmation, you can set the transaction fee to low priority, note that this can only apply if this is not an exchange wallet, because some exchanges have fix transaction fees when withdrawing your funds, so if multiple wallets that you have is from an exchange then fees will be a problem. Anyway, low priority fees will not take long since there are no congestion on Bitcoin's network like before. If you are using a segwit address it will be more cheaper and faster.

[Unblock_news]

I've multiple wallets and I was wondering if I keep transferring bitcoins among these wallets (my own wallets ) will that eventually consume all my coins (keep paying fees )?

First of all, what's your purpose of having multiple wallets if you have the same coin you're handling? You're wasting your coin by transferring to multiple addresses because whenever you transfer your coin, it require fees. Better to have one primary wallet.

[Magkirap]

I've multiple wallets and I was wondering if I keep transferring bitcoins among these wallets (my own wallets ) will that eventually consume all my coins (keep paying fees )?

All transaction that you have done will consume fees and I think you only need one wallet that will help you to secure and keep your bitcoin. I suggest just use one wallet where can secure all your token just like hardware wallet.

[dothebeats]

There is always an option to never pay for the transfer, though I don't think it will net you a pleasant result as miners would surely ignore your transaction and not include it on their blocks. if you keep paying the minimum fee at the given time then yes, your coins would ultimately be exhausted as miners won't care even if you own two addresses and are being contained in a single wallet. Also, why would one do this in the first place?

[ralle14]

I've multiple wallets and I was wondering if I keep transferring bitcoins among these wallets (my own wallets ) will that eventually consume all my coins (keep paying fees )?

First of all, what's your purpose of having multiple wallets if you have the same coin you're handling? You're wasting your coin by transferring to multiple addresses because whenever you transfer your coin, it require fees. Better to have one primary wallet.

Each of his wallet could be on a different device (hardware, desktop, mobile, wallet) or one wallet is used as a cold storage. Having one primary wallet can be risky spreading them on different wallet reduces the risk of losing all of your coins.  

This is funny, why do you want to keep doing that? Will this not amount to wastage of your funds since they still belong to you, or just an effort from you without any value been added!

I've fractions of coins in multiple addresses so I was thinking to "put" them all into one single address, and now it seems that will cause the fee problem

If you're not in a hurry set a custom fee you don't have to spend a lot on miner fees unless your wallet doesn't allow it.

[omonuyak]

I've multiple wallets and I was wondering if I keep transferring bitcoins among these wallets (my own wallets ) will that eventually consume all my coins (keep paying fees )?

It is truth if you have multiples wallets you will lose money and that do happen because of charge you will incure on the process.  You pay some fees for every transaction you make and if you keep transfer coins from one wallet to another? There is no way you will not be charged for those transfer.

[Ipwich]

I've multiple wallets and I was wondering if I keep transferring bitcoins among these wallets (my own wallets ) will that eventually consume all my coins (keep paying fees )?

That depends on how often you transfer and the amount of your coins.
It's costly to you if you keep transferring coins while you are not holding a decent amount, currently the transaction fee for transfer
is not a big amount, even exchanges could only charge BTC 0.0005 and that is $2 or more but if will not affect you if you hold
thousand of dollars in your wallet. I'm sure with your personal wallet you don't have to pay that much.

Having different wallets can minimize the risk, but you can minimize fees also if you will manage your transfers properly.

[deisik]

I've multiple wallets and I was wondering if I keep transferring bitcoins among these wallets (my own wallets ) will that eventually consume all my coins (keep paying fees )?

Technically, not necessarily

Since at a certain point in time you will likely have just dust remaining in your wallet which will not be enough to cover your transaction fees. And this is a more serious issue than it can appear at the first look as "many a little makes a mickle", i.e. many small amounts accumulate to make a large amount. Exactly this happened when Bitcoin rose and transaction fees rose along with it, ultimately leading to these small amounts in many wallets across the blockchain essentially left for dead and removed from circulation

[demenBTC]

I've multiple wallets and I was wondering if I keep transferring bitcoins among these wallets (my own wallets ) will that eventually consume all my coins (keep paying fees )?

if you have multiple exchange wallets on indodax.com then here are not subject to bitcoin shipping fees if you send bitcoin from indodax to another indodax account, this is absolutely free

[Fesatmas]

If you have a lot of wallet then make one wallet in my opinion because it is more practical and the transaction costs are not large,

[andi_wahid]

basically each transaction requires a fee, it's up to you whether from your one wallet to the other wallet because this is part of the service, and the service requires a fee.