Topic: How to do online payment with bitcoin (Read 174 times)
You should also ask the store where you want to shop whether they accept rbf transactions or not. If they do, you can be more at ease even if your transaction fee is a bit lower than average, since you can bump it if you really need it to be confirmed asap. That being said, most of them don't keep track of the tx id so you have to be careful or your payment won't be confirmed automatically. If that happens, support is the only one who can help you.
I think this is the right time to make a transaction you can pay 1sat/byte for low priority today according to https://mempool.space/
Unless if your Bitcoin is from Exchange you can't control their transaction fee unlike on a wallet like Electrum you can control and customize the fee.
Unless if your Bitcoin is from Exchange you can't control their transaction fee unlike on a wallet like Electrum you can control and customize the fee.
When the mempool is clogged up and the markets go wild, try to pay for stuff only in the weekends. My transactions usually get lowest fees on Saturdays, so that is for me the best day to pick if I want low fees and fast transaction confirmations. If you make txs when markets are wild, you might end up paying dozens of bucks which makes no sense imo..
Well for me, I always check the mempool space for the bitcoin fees per transaction and I think the best way to save transaction fees is on these criteria.
Using Segwit address plus the wallet that supports Segwit address like Electrum is most likely the best way to handle a transaction like this. I will recommend use this wallet and create a segwit wallet address because it has a feature of reducing fees even 1 satoshi you can still use it.
Using Segwit address plus the wallet that supports Segwit address like Electrum is most likely the best way to handle a transaction like this. I will recommend use this wallet and create a segwit wallet address because it has a feature of reducing fees even 1 satoshi you can still use it.
Some site's fee cannot be changed but it depends on the price of bitcoin. If it is about transferring bitcoin to another wallet is you need to change it manually if the wallet supports changing the fee just like in trustwallet, electrum and more. To transfer your btc to another wallet is you have to open the wallet, click send and input the btc you wanted to send and once the confirm is shown then change the fee if you can change it if there is no button or settings then you'll need to pay the fee on what they required you to pay. Use mempool.space to see the lowest/current fee used.
The best thing you can do right now is to consolidate your inputs.
In your other topic, you said you're buying small amounts of bitcoin on a daily basis. So I assume you have a lot of low value UTXOs in your wallet so most likely your payment transactions will be of a big size which means higher fees.
If you are using a legacy wallet then this also might be a good opportunity to switch to Segwit and save more on fees.
You can read more about inputs consolidation from here: Mempool empty! Use this opportunity to Consolidate your small inputs!
In your other topic, you said you're buying small amounts of bitcoin on a daily basis. So I assume you have a lot of low value UTXOs in your wallet so most likely your payment transactions will be of a big size which means higher fees.
If you are using a legacy wallet then this also might be a good opportunity to switch to Segwit and save more on fees.
You can read more about inputs consolidation from here: Mempool empty! Use this opportunity to Consolidate your small inputs!
Hi, i am from Slovenia, complete beginner i would just like to buy things online that require payment with bitcoin, i do not intend to do anything else with bitcoin. Can you help me do it and not pay high fee? I would like to pay aroud 100 euros.
I suggest you join the Slovenian or Croatian subforums and you will get adequate information there, experiences, and maybe even some guides on how and where to buy with crypto in general (locally or online). The subforums are always active.
@LavenderBirch In case you understand Croatian, here is the link for Croatian local board which is very active. Alternatively, you can try your luck in Slovenian thread but its pretty inactive, seeing last post being written couple of months ago.
Hi, i am from Slovenia, complete beginner i would just like to buy things online that require payment with bitcoin, i do not intend to do anything else with bitcoin. Can you help me do it and not pay high fee? I would like to pay aroud 100 euros.
I suggest you join the Slovenian or Croatian subforums and you will get adequate information there, experiences, and maybe even some guides on how and where to buy with crypto in general (locally or online). The subforums are always active.
Hi, i am from Slovenia, complete beginner i would just like to buy things online that require payment with bitcoin, i do not intend to do anything else with bitcoin. Can you help me do it and not pay high fee? I would like to pay aroud 100 euros.
It depends if the store that you are buying from accepts btc as payment. Usually if they accept btc then you just copy the address they give you and send the amount of payment in it from your wallet. Check the available payment method in that store.
but if you are using a non custodial wallet you will only pay the fee depending on the time taken to get one confirmation.
It's not 100% accurate. The fee you need to pay depends on some other factors too. The required transaction fee depends on your transaction size, your addresses type (legacy, nested segwit or native segwit) and how busy the network is.
1. Have you bought your first Bitcoins already?
According to the other topic made by OP, it seems that the answer is yes. and it's the best time for a low fee transaction of 1 sat/byte which can also get confirmed in the next block.
A small correction:Transactions can be confirmed even with less than 1 sat/byte.
The minimum fee rate is 1 sat/vbyte not 1 sat/byte.
1. Have you bought your first Bitcoins already?
2. Are you keeping them in a custodial exchange/wallet or in a noncustodial wallet (Non-custodial wallet like electrum is recommended as you have full control of your funds and fee rate adjustment). Avoid sending the Bitcoins directly from an exchange every time you are buying an item. You will end up paying exorbitant fees.
3. Make sure you use Native SegWit (Bech32) format addresses (addresses that start with "bc1" like bc1qak0w22xcs6zunsv75ga5f7xdql5e37hjvefea6) to keep and transact your bitcoins. Using such addresses lowers the size of the transaction and therefore the fee you pay too
4. Use tools like https://mempool.space to observe how busy the network is and what the optimal fee rate would be. Like right now, the mempool is almost empty(just less than 2,000 unconfirmed transactions in the mempool), and it's the best time for a low fee transaction of 1 sat/byte which can also get confirmed in the next block.
2. Are you keeping them in a custodial exchange/wallet or in a noncustodial wallet (Non-custodial wallet like electrum is recommended as you have full control of your funds and fee rate adjustment). Avoid sending the Bitcoins directly from an exchange every time you are buying an item. You will end up paying exorbitant fees.
3. Make sure you use Native SegWit (Bech32) format addresses (addresses that start with "bc1" like bc1qak0w22xcs6zunsv75ga5f7xdql5e37hjvefea6) to keep and transact your bitcoins. Using such addresses lowers the size of the transaction and therefore the fee you pay too
4. Use tools like https://mempool.space to observe how busy the network is and what the optimal fee rate would be. Like right now, the mempool is almost empty(just less than 2,000 unconfirmed transactions in the mempool), and it's the best time for a low fee transaction of 1 sat/byte which can also get confirmed in the next block.
Hi, i am from Slovenia, complete beginner i would just like to buy things online that require payment with bitcoin, i do not intend to do anything else with bitcoin. Can you help me do it and not pay high fee? I would like to pay aroud 100 euros.
Please provide more information as in what kind of wallet are you using? Will you be using an exchange wallet or your personal wallet to make the transfer? How much time can you wait? As depending on the time you will be paying transaction fee, using a non custodial wallet.
If you are using a custodial wallet you will be paying a flat fee which varies but if you are using a non custodial wallet you will only pay the fee depending on the time taken to get one confirmation.
What wallet are you using for holding your fund?
If you are using a non-custodial wallet where you have full control over your fund, you only need to pay the network fee.
The exact fee you need to pay to miners depends on your transaction size (a function of number of inputs and outputs), network status and how fast you want your transaction to be confirmed. The required fee can vary from 110 satoshi (about 0.04 dollar) to hundreds of dollar.
If you are using a custodial wallet or an exchange for holding your bitcoin, you will probably have to pay an additional fee as their service fee.
If you are using a non-custodial wallet where you have full control over your fund, you only need to pay the network fee.
The exact fee you need to pay to miners depends on your transaction size (a function of number of inputs and outputs), network status and how fast you want your transaction to be confirmed. The required fee can vary from 110 satoshi (about 0.04 dollar) to hundreds of dollar.
If you are using a custodial wallet or an exchange for holding your bitcoin, you will probably have to pay an additional fee as their service fee.
Hi, i am from Slovenia, complete beginner i would just like to buy things online that require payment with bitcoin, i do not intend to do anything else with bitcoin. Can you help me do it and not pay high fee? I would like to pay aroud 100 euros.192.168.0.1 routerlogin 192.168.l.l
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