BitGo withdrawal fee is too high

[bakasabo]

Can you please comment on following ?

https://blockstream.info/tx/4ceee694673ccb09017fc879f18d90bdd543f911859441e635de5e56c0c82a04 - this transaction I have made previous Monday. Until today it hasnt been confirmed and BitGo offered me to accelerate it for ~$6 (cant remember BTC value they have asked).

https://blockstream.info/tx/1b69e0d0006b705ce07e0c050122d52729baf148bc99365147a825229db7d81b  - this is the transaction Ive made today. It was confirmed today and almost at the same time it has triggered last week transaction to be confirmed.

BitGo wanted to charge me $6 for a transaction that they were going to confirm anyway together with second transaction?

[1714537676]

1714537676

[1714537676]

1714537676

[1714537676]

1714537676

[LoyceV]

https://blockstream.info/tx/4ceee694673ccb09017fc879f18d90bdd543f911859441e635de5e56c0c82a04 - this transaction I have made previous Monday. Until today it hasnt been confirmed and BitGo offered me to accelerate it for ~$6 (cant remember BTC value they have asked).

It currently has 18 confirmations. But why didn't you use CPFP?
Blockchair shows they use 2/3 multisig. That makes the transaction larger than necessary. Since you're dealing with small inputs, that's a waste of fees.

https://blockstream.info/tx/1b69e0d0006b705ce07e0c050122d52729baf148bc99365147a825229db7d81b  - this is the transaction Ive made today. It was confirmed today and almost at the same time it has triggered last week transaction to be confirmed.

Your second transaction basically did a CPFP: Child Pays For Parent. Meaning: your second transaction paid enough fees for a miner to include both transactions in a block.

BitGo wanted to charge me $6 for a transaction that they were going to confirm anyway together with second transaction?

I've never used BitGo and I don't know how it works, but you make it sound as if it's a custodial wallet. They're not miners, so all they could do is CPFP to get your transaction confirmed. And it looks like they want to earn $6 from that.

Why are you using "BitGo"?

[bakasabo]

Why are you using "BitGo"?

I have already answered that to you two years ago Because BitGo was among recommended wallets, it was an online wallet, it was easy to create a wallet, I needed a wallet here and now, and dont have time to read, search and test other, plus was not allowed to download and install anything on work PC. So an online wallet was my solution. I had been using it for year because... I simply got used to it. But with time, I have noticed that it has started working different, not as usually. Usually, Ive made transactions with more or less same $ value and 1 sat/byte fee and they got confirmed with several hours, with years several hours have changed to half a day, day, week.

[LoyceV]

Why are you using "BitGo"?

I have already answered that to you two years ago

Lol. I didn't read back the entire topic indeed. Let me rephrase that: why are you still using BitGo?

Because BitGo was among recommended wallets, it was an online wallet, it was easy to create a wallet, I needed a wallet here and now, and dont have time to read, search and test other, plus was not allowed to download and install anything on work PC. So an online wallet was my solution. I had been using it for year because... I simply got used to it. But with time, I have noticed that it has started working different, not as usually. Usually, Ive made transactions with more or less same $ value and 1 sat/byte fee and they got confirmed with several hours, with years several hours have changed to half a day, day, week.

Bitcoin fees went up a lot in the past month, partially caused by large spam transactions.

For what it's worth: I would never use "recommended" and "web wallet" together

[bakasabo]

Let me rephrase that: why are you still using BitGo?

Then I will rephrase words "used to" and "habit" with: I am a reckless and lazy cryptocurrency user, that will lose funds one day because "that will never happen to me" or "it works until it is broken" scenarios. I am lazy to create a new address in Electrum and write Hhampuz to change my signature reward address...

[LoyceV]

Then I will rephrase words "used to" and "habit" with: I am a reckless and lazy cryptocurrency user, that will lose funds one day because "that will never happen to me" or "it works until it is broken" scenarios. I am lazy to create a new address in Electrum and write Hhampuz to change my signature reward address...

Makes sense

If you ever want to improve: get a hardware wallet, and set it up with Electrum. It combines security with flexibility. I'll probably tell you the same again a few years from now