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Topic: 3 ways you can save on transactions fees today - page 2. (Read 1170 times)

legendary
Activity: 3472
Merit: 10611
1. Save up all the payments you need to make and send them in one transaction.
On electrum, go to tools > "pay to many" to do this, enter in each payment as
,
majority of us aren't making mass payments to others, people do purchases with bitcoin as they do with lets say paypal. this suggestion (although it is correct and good) means keep all your purchases and do them at once!

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2. Do offchain transactions.
this is never good in my opinion. i prefer paying higher fee rather than go through a third party. if wanted to do that i would have used my bank.

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3. Transaction fees drop at off-peak times.
Check https://bitcoinfees.21.co regularly and do your payments when the fees are lowest.
using a proper wallet you never need that site. and that site is known to still report high fees (because of the way it calculates it) even if the mempool is empty.
Electrum (that you mentioned in your comment) does this good enough.
full member
Activity: 196
Merit: 101
1. Save up all the payments you need to make and send them in one transaction.
On electrum, go to tools > "pay to many" to do this, enter in each payment as
,

2. Do offchain transactions.
Most merchants use coinbase as a payment processor.
Create a coinbase account and deposit some BTC there.
Whenever you need to pay a coinbase merchant you can do it through coinbases system without it touching the blockchain
When LN comes you'll be able to do this without having an account at coinbase or trusting them to keep your BTC safe.

3. Transaction fees drop at off-peak times.
Check https://bitcoinfees.21.co regularly and do your payments when the fees are lowest.
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