How to transfer BTC to Ledger as cheap as possible

HCP

legendary

Activity: 2086

Merit: 4363

Note the very important Step 3. Wink

Quote from: HCP on October 14, 2017, 01:58:06 PM

Step 3. Use ViaBTC to accelerate transaction

This is the reason to use a fee greater than 10 sats/byte. So you can use the ViaBTC accelerator. They're generally mining 10+ blocks a day...

So, yes, there is a risk your transaction will take a while if the network is busy and you have to time it right to get a free slot on the accelerator, but I've never waited more than a couple of hours...

If you don't want to wait and/or are somewhat "risk averse" pay the recommended fees and stop trying to cheap out on fees...

Cheap fees+accelerator+high risk or recommended fees+low risk... Pick one combination for fast confirmation times. Tongue

I know which one I use Wink

Ethero

jr. member

Activity: 60

Merit: 2

Quote from: HCP on October 14, 2017, 01:58:06 PM

Quote from: Ethero on October 13, 2017, 05:31:06 AM

I want to transfer my BTC (0.4) to my Ledger Wallet.
The transaction fees are round about $80! Is there an other, cheaper way to swipe my coins from paper wallet to the ledger?

Pretty easy really...
Step 1. Import Paper wallet private key into Electrum
Step 2. Send BTC to Ledger using fee of 0.00010001 BTC/kB (aka 10.001 sats/byte) (you'll need to set Electrum to allow manual fees)
Step 3. Use ViaBTC to accelerate transaction
Step 4. Profit

But this method is really slow, or? I mean I don´t want to wait several weeks with such a small amount of transaction fees. Do you have experience with those small fees?

HCP

legendary

Activity: 2086

Merit: 4363

Quote from: XXX_BTC1@ on October 26, 2017, 02:36:22 AM

no it is not very important, but actually my ledger arrived and i would feed him. but unfortunately their is no way of moving coins from paper wallet to ledger.but at this moment my bit coin is very safe in paper wallet.

Why don't you just sweep using Electrum? Create a new wallet in Electrum "use hardware device"... then in menu "Wallet -> Private Keys -> Sweep"... put in the private key of your paper wallet... send to one of your ledger addresses. Problem solved! Wink

XXX_BTC1@

newbie

Activity: 28

Merit: 0

Quote from: Ethero on October 13, 2017, 05:31:06 AM

I want to transfer my BTC (0.4) to my Ledger Wallet.
The transaction fees are round about $80! Is there an other, cheaper way to swipe my coins from paper wallet to the ledger?

no it is not very important, but actually my ledger arrived and i would feed him. but unfortunately their is no way of moving coins from paper wallet to ledger.but at this moment my bit coin is very safe in paper wallet.

HCP

legendary

Activity: 2086

Merit: 4363

Quote from: Ethero on October 13, 2017, 05:31:06 AM

I want to transfer my BTC (0.4) to my Ledger Wallet.
The transaction fees are round about $80! Is there an other, cheaper way to swipe my coins from paper wallet to the ledger?

Pretty easy really...

Step 1. Import Paper wallet private key into Electrum
Step 2. Send BTC to Ledger using fee of 0.00010001 BTC/kB (aka 10.001 sats/byte) (you'll need to set Electrum to allow manual fees)
Step 3. Use ViaBTC to accelerate transaction
Step 4. Profit

achow101

staff

Activity: 3458

Merit: 6793

Just writing some code

You said that you are using a paper wallet, so you must have imported that private key into a wallet software. Use a wallet software that allows you choose the transaction fee rate. Then just set the fee rate to be something fairly low. It may take a while for the transaction to confirm, but if you are not in a rush, that's OK. You should also use a wallet that allows you to set the transaction to opt into RBF so you can increase the fee later if it is taking too long to confirm. I recommend that you use Electrum.

poordeveloper

hero member

Activity: 896

Merit: 527

₿₿₿₿₿₿₿

Quote from: Ethero on October 13, 2017, 05:31:06 AM

I want to transfer my BTC (0.4) to my Ledger Wallet.
The transaction fees are round about $80! Is there an other, cheaper way to swipe my coins from paper wallet to the ledger?

Could it be possible you have many small transactions (like faucet transactions) to your paper wallet?

Transaction fees are paid by size in bytes, not per amount of Bitcoins.

bob123

legendary

Activity: 1624

Merit: 2481

Quote from: Ethero on October 13, 2017, 05:31:06 AM

I want to transfer my BTC (0.4) to my Ledger Wallet.
The transaction fees are round about $80! Is there an other, cheaper way to swipe my coins from paper wallet to the ledger?

80$ Transaction fee? No way.
How big is your transaction ? Did you make an error with decimals?

The only way i could imagine the TX fee would be that high, is if you had a massive amount of input addresses, containing a very small amount.

Unfortunately there is no other way of moving coins from paperwallet to ledger.
Ledger creates a HD Wallet for you. Addresses are being created with increasing counter.
There is no way to import a private key and add it to the wallet (and thats good for security and safety!).

Ethero

jr. member

Activity: 60

Merit: 2

No, it´s not important. But my Ledger actually arrived and I would feed him ;-) But not for this fees.
At the moment my BTCs are safe in a paper wallet.

aplistir

full member

Activity: 378

Merit: 197

Are you in a hurry?

You could wait for a cheaper moment, or make the transaction with smaller fee.

Eventually it will be included in a block.

You can check the current fee from here:
https://bitcoinfees.21.co/

Ethero

jr. member

Activity: 60

Merit: 2

I want to transfer my BTC (0.4) to my Ledger Wallet.
The transaction fees are round about $80! Is there an other, cheaper way to swipe my coins from paper wallet to the ledger?

Topic: How to transfer BTC to Ledger as cheap as possible (Read 927 times)