Wallets that you can make bitcoin transaction with less than 1 sat/vbyte

[Charles-Tim]

I supposed to be updating this thread: https://bitcointalk.org/index.php?topic=5556620.msg65724891#msg65724891

But I noticed it will be of no much effect if the OP is not updating it, so the reason I am create another thread for it for people to know what is going on about using transaction fee that is less than 1 sat/vbyte.

First of all, know that I have been using 1 sat/vbyte since some weeks ago, but it is getting easier day by day as more wallets are supporting it.
Second, make sure you first check the mempool for it. If you are not also in a hurry, you can use it. This is the mempool that you should use for it: https://mempool.jhoenicke.de/#BTC,24h,weight

For Electrum, read this guide: https://bitcointalk.org/index.php?topic=5556044.msg65713295#msg65713295
The guide is also available for Trezor suite
For Bluewallet, read this guide, https://bitcointalk.org/index.php?topic=5556044.msg65860312#msg65860312
You do not need any guide for Sparrow. It is there already.

Electrum has 0.1 sat/vbyte fee in its testnet already, I believe it will not require any guide likely in the next update.


Any wallet like hardware wallet that you connect to software wallet like Electrum, Sparrow or Bluewallet, you will be able to make less than 1 sat/vbyte transactions because the hardware wallet is only responsible for singing while the software wallet is responsible for transaction broadcasting.

[coinlary]

This is good to know.
Just wondering  if  miners will like the idea of <1sat/vbyte   although there's  still some rewards attached for minning  a block anyways.
Also, for anyone trying to use the servers always add the port number ":50002"  for it to work,it's  mentioned on the thread but incase anyone misses that because  I did while trying to use on Electrum

[Charles-Tim]

This is good to know.
Also, for anyone trying to use the servers always add the port number ":50002"  for it to work,it's  mentioned on the thread but incase anyone misses that because  I did while trying to use on Electrum

Although, it will get better. I have been using Sparrow now without any change to server or port and it is working. I started using it again after the update that included less than 1 sat/vbyte and I have used it two times. I think the next Electrum update will be with the low fee rate without any change in server and the use of console.

[Nathrixxx]

This is good to know.
Just wondering  if  miners will like the idea of <1sat/vbyte   although there's  still some rewards attached for minning  a block anyways.
Also, for anyone trying to use the servers always add the port number ":50002"  for it to work,it's  mentioned on the thread but incase anyone misses that because  I did while trying to use on Electrum

I think the fee in this regard has to do with being able to adjust the fee rate to our desirable sat/vbyte as being affordable by us, the wallet don't customize the fee as a fix rate, but we can only adjust on them to the least which is 1sat/vbyte, while some wallet couldn't help acheive on this, every other things have to depend on the mempool and how it has been found congested or not.

[Cryptoprincess101]

The reason why it is possible use 1 sat/vbyte in those few wallets you mentioned is because the mempool is less congested and the mining fees has drastically reduced. Yesterday i made a transaction of close to 500 USD (in bitcoins) and i was charged as low as 0.90 USD as mining fee and the fee rate was 1.1 sat/vbyte and my target was just within 2 blocks on electrum wallet. It took less than an hour for the transaction to be confirmed.

[Charles-Tim]

but we can only adjust on them to the least which is 1sat/vbyte

You will be able to customize the fee rate not just to only 1 sat/vbyte but to 0.1 sat/vbytes. The least that I have used which I commonly use is 0.3 sat/vbyte but I have used 0.4 sat/vbyte just once.

The reason why it is possible use 1 sat/vbyte in those few wallets you mentioned is because the mempool is less congested and the mining fees has drastically reduced. Yesterday i made a transaction of close to 500 USD (in bitcoins) and i was charged as low as 0.90 USD as mining fee and the fee rate was 1.1 sat/vbyte and my target was just within 2 blocks on electrum wallet. It took less than an hour for the transaction to be confirmed.

You will be able to use less than 1 sat/vbyte is what I am posting about.

[Faazs]

I supposed to be updating this thread: https://bitcointalk.org/index.php?topic=5556620.msg65724891#msg65724891

But I noticed it will be of no much effect if the OP is not updating it, so the reason I am create another thread for it for people to know what is going on about using transaction fee that is less than 1 sat/vbyte.

First of all, know that I have been using 1 sat/vbyte since some weeks ago, but it is getting easier day by day as more wallets are supporting it.
Second, make sure you first check the mempool for it. If you are not also in a hurry, you can use it. This is the mempool that you should use for it: https://mempool.jhoenicke.de/#BTC,24h,weight

For Electrum, read this guide: https://bitcointalk.org/index.php?topic=5556044.msg65713295#msg65713295
The guide is also available for Trezor suite
For Bluewallet, read this guide, https://bitcointalk.org/index.php?topic=5556044.msg65860312#msg65860312
You do not need any guide for Sparrow. It is there already.

Electrum has 0.1 sat/vbyte fee in its testnet already, I believe it will not require any guide likely in the next update.

Suggestions:
Always double-check mempool congestion before sending with <1 sat/vbyte, avoid using such low fees when the network is busy,If your wallet supports Replace-by-Fee (RBF), enable it, just in case you need to bump the fee later. Lastly, let’s continue to test, share results, and encourage wallet developers to support more flexible fee customization.

[Charles-Tim]

Always double-check mempool congestion before sending with <1 sat/vbyte, avoid using such low fees when the network is busy

It is no more a suggestion because I have this in the OP.

Second, make sure you first check the mempool for it. If you are not also in a hurry, you can use it. This is the mempool that you should use for it: https://mempool.jhoenicke.de/#BTC,24h,weight

If your wallet supports Replace-by-Fee (RBF), enable it, just in case you need to bump the fee later.

All the wallets I mentioned in the OP are supporting replace-by-fee and the replace-by-fee is enabled by default. If you are using any of the wallet, all transactions support opt-in replace-by-fee.

I can not include any wallet that is not supporting replace-by-fee. I do not recommend them.

[Achalugo BTC]

Although, it will get better. I have been using Sparrow now without any change to server or port and it is working. I started using it again after the update that included less than 1 sat/vbyte and I have used it two times. I think the next Electrum update will be with the low fee rate without any change in server and the use of console.

Electrum adding low fee rates will make things even better and flexible, which makes it easier for users to have more control and save money. While sparrow working perfectly without port is a good sign, which both makes it very helpful or easy to manage Bitcoin.

[coinlary]

I think the next Electrum update will be with the low fee rate without any change in server and the use of console.

ItIt’s a policy rule  not a consensus rul e though, which means that if more people run their servers with a minrelaytxfee of 0.1 sat/vbyte, users would have more options to choose from. Otherwise, Bitcoin Core itself would need to allow less than 1 sat/vbyte by default before Electrum could easily whitelist such servers.

I’m not sure if Electrum can still whitelist servers without the policy changing, but that would be even better since Electrum could simply include those servers, and users would be able to select them easily. Still, users would need to manually choose a server that supports <1 sat/vbyte transactions, since not all nodes can be forced to use lower relay fees.

[Charles-Tim]

0.5 sat/vbyte transactions are getting confirmed right now. You can check the mempool to confirm.


Edit:

0.3 sat/vbyte transactions are getting confirmed right now.


The fee rate may increase during weekdays.

[Charles-Tim]

It is now simpler for you people, mempool.space has adjusted the fee rate for you people to know the low fee for faster confirmation when the mempool is not congested at all.





I have used 1 sat/vbyte for many of my transactions and they get confirmed. I noticed mempool is getting very decongested on weekends as usual, making the less than 1 sat/vbyte transactions to get confirmed earlier.