hey guys
i need a clear & technical answer:
How to avoid high bitcoin transaction fees?
i receive 10-20 payment per week , so how to avoid increase of transaction size?
How "transaction size" & Transaction Fees in blockchain work?
i need a clear & technical answer:
How to avoid high bitcoin transaction fees?
i receive 10-20 payment per week , so how to avoid increase of transaction size?
How "transaction size" & Transaction Fees in blockchain work?
In case of you receiving that number of transactions per week, and especially if they are low value transactions, you're better off using an online wallet service as temporary hot spot. All your payments will then be sent to the online wallet that you use, from where you can let them pile up and eventually send them to your own wallet by paying just one fee, which in most cases is just the network fee. If you let them pile up in a normal wallet client, and you try to send all these funds at once, you'll need to pay a fee according to the total byte size, which in most cases is 226 bytes per transaction. So 20 transactions x 226 bytes = 4.5KB, which means that your recommended fee will be at least 0.03 BTC.
