How to speed up btc transfers

[khaled0111]

CPFP is helpful if we do self-transactions or if we send it to an address where the owner has his own private key. If we send it to the exchange, CPFP doesn't work properly, because we have to contact the exchange to help increase the fee

Not necessarily, you can send some of your coins to an exchange and you are still able to perform CPFP.
Let's assume you have 1 brc, you send 0.5 to an exchange and the remaining 0.5 will be sent to lne of your change addresses.
You as sender, can perform cpfp because some of the outputs are sent to you. All you need to do is to spend the received change with enough high fee to cover both the current and the previous transactions.

[Oshosondy]

Not necessarily, you can send some of your coins to an exchange and you are still able to perform CPFP.
Let's assume you have 1 brc, you send 0.5 to an exchange and the remaining 0.5 will be sent to lne of your change addresses.
You as sender, can perform cpfp because some of the outputs are sent to you. All you need to do is to spend the received change with enough high fee to cover both the current and the previous transactions.

But if the transaction is sent to an exchange or to a custodial wallet in a way that it has no change address, there would be no way to create a CPFP transaction.

If the parent transaction virtual size is very high with many inputs and outputs, the fee that would be needed for the new transaction would be very high too.

If you are able to spend the unconfirmed transaction or its change address, you will be able to do CPFP.

[joniboini]

Not necessarily, you can send some of your coins to an exchange and you are still able to perform CPFP.

But if the transaction is sent to an exchange or to a custodial wallet in a way that it has no change address, there would be no way to create a CPFP transaction.

Basically, it is a good idea to always include a change transaction to an address that you control. What Sarah describes can be avoided easily as long as the user uses a good wallet. Consolidating inputs can also help to lower the fees. It is always a good idea to regularly consolidate our inputs unless it is a cold wallet. CMIIW.

[Oshosondy]

Basically, it is a good idea to always include a change transaction to an address that you control. What Sarah describes can be avoided easily as long as the user uses a good wallet.

A transaction does not necessarily need to have a change on your balance. A good wallet should have RBF so that you will be able to increase the fee instead of depending on CPFP which will require higher transaction fee. A good wallet should not only support RBF but should also enable it by default.

[Pmalek]

Isn't that the same thing? Having an adjustable fee even within a ranging system of 1,2,5,10...300 sat/vbyte. What other customisation can one need than that.

Full fee customization means that I can pick any number I want, not the ones the software specifies. If it goes 1, 2, 5..., where is the 3 and 4? Not only that, but maybe I would like to pay 5.5 sat/vByte and not 5 or 6. Electrum mobile doesn't allow me to do that. It's not that important if you are sending a transaction and paying 70 or 70.5 sat/vByte. But back when the fees were low, there was a big difference between 1 and 2 sat/vByte. Even a 1.5 sat/vByte is 50% more expensive than a transaction paying only 1 sat/vByte. On Electrum's desktop version, I could pay 1.1 sat/vByte and have priority over anyone paying only 1 sat, but still save money compared to what I would have spent if I paid 2 sat/vByte.

Consolidating inputs can also help to lower the fees. It is always a good idea to regularly consolidate our inputs unless it is a cold wallet. CMIIW.

Consolidating is OK when the network conditions allow it. It gets quite expensive in situations like what we have witnessed with the Ordinals.