I don't have enough for bitcoin miner fees.

Charles-Tim

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Quote from: Lida93 on December 21, 2022, 01:54:03 AM

Can you really wait for BTC miner fee levels to adjust downwards! And how long do you think you can wait, as you're not sure at a particular period when fees would lower down as that might not be happening anytime soon.

This thread was created more than a week ago, the highest fee priority several times after this thread was created has been 1 sat/vbyte. Even as I was about to post this, the mempool is 1 sat/vbyte. Which means if you use the lowest fee rate which is 1 sat/vbyte, the transaction would be confirmed very early and it would likely be included in the next block.

Quote from: Lida93 on December 21, 2022, 01:54:03 AM

but be reminded that these fees are time bond, in that the lower the fees the higher the duration it will take for transaction to be processed.

It depends on mempool congestion just as I implied above.

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Quote from: LalitM on December 12, 2022, 11:26:29 PM

I don't have enough for bitcoin miner fees. What should I do?

Should I wait for Bitcoin miner fee levels to adjust downward?

or use a lower than recommended Bitcoin miner fee?

I mostly get my bounty rewards in BSC coins but this time I got in BTC and the fees are pretty high.
I did some research and found out that I can move my btc private key to another wallet, But I don't know if it's safe or not, I can use this and wait for my other btc payments and then move.
Please share your recommendation, thank you

Can you really wait for BTC miner fee levels to adjust downwards! And how long do you think you can wait, as you're not sure at a particular period when fees would lower down as that might not be happening anytime soon. You're stuck probably because you're using a wallet with a fixed transaction fees and it's best you change your wallet type to one that allows you set your preferred lower transaction fees but be reminded that these fees are time bond, in that the lower the fees the higher the duration it will take for transaction to be processed.

hosseinimr93

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Quote from: sheenshane on December 16, 2022, 10:34:47 AM

Using Electrum as suggested above is the best option because you can manually input the fees even if it's 2 sat/vB which at this moment it cost $0.05.

There is no way to know the total fee without knowing the transaction size and you can't say 2 sat/vbyte is equivalent to $0.05.
For example, if you have 100 legacy inputs and 2 outputs and set the fee rate to 2 sat/vbyte, you have to pay around 30,000 satoshi as transaction fee. That would be around 5 dollars.

sheenshane

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Quote from: 2double0 on December 15, 2022, 08:07:46 AM

Please go to https://jochen-hoenicke.de/queue/#BTC,2h,fee every time you want to send your BTC anywhere. Also try coin control features and wallets that allow you to decide fees instead of getting stuck in a wallet that asks you to pay a fixed fee.

This is very important when planning to transfer your Bitcoin into another wallet and also, this.
I usually used mempool upon checking the Bitcoin network status, it's fine to pay $0.2 or $0.3 in a single transaction because it's expected that you need to cover your fees when transferring your Bitcoin. Using Electrum as suggested above is the best option because you can manually input the fees even if it's 2 sat/vB which at this moment it cost $0.05. But the problem is it might take a couple of days before it will confirm but unlikely it will not be stuck forever.

I assume that you need to transfer your Bitcoin on an exchange platform to trade it into fiat or altcoins.
So your problem now is to transfer your Bitcoin into the exchange with a less fee. You can set your transaction into 1-5 sats fees, but don't expect your transaction becomes quick, luckily if it will confirm within 24 hours if the mempool isn't congested because you're in a low priority.

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Quote from: hosseinimr93 on December 15, 2022, 02:27:36 PM

Quote from: suzanne5223 on December 15, 2022, 01:13:31 PM

I will advise you to import the private keys using the electrum wallet, verify the wallet before using and make use of the manual fees option.

Instead of just importing the wallet into electrum, it would be better to create a new wallet on electrum and send all the fund to that.
Also note that trustwallet allow you to adjust the fee rate manually too.

I am not used to Trust wallet and I could remember I only used it twice which I believe was before the acquisition of Binance. However, the problem OP had has to do with the wallet being a transaction fee and sending the BTC to electrum first before moving it to where he was to send it to will attract more fees. I suggest he try what was explained here.

Charles-Tim

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Quote from: hosseinimr93 on December 15, 2022, 02:27:36 PM

Quote from: suzanne5223 on December 15, 2022, 01:13:31 PM

I will advise you to import the private keys using the electrum wallet, verify the wallet before using and make use of the manual fees option.

Instead of just importing the wallet into electrum, it would be better to create a new wallet on electrum and send all the fund to that.
Also note that trustwallet allow you to adjust the fee rate manually too.

If you want to make a transaction on trust wallet, after you have pasted the address and input the amount of coins that you want to send, click on 'continue' at the right upper connect that will take you to the next page to finalize the transaction. Click on the setting-like icon on the right upper corner to customize the fee.

Trustwallet is not an open source wallet, you do not know how the wallet developers come about seed phrase generation and the whole wallet makeup, maybe there is a backdoor for the developers to know the keys that Trustwallet users are generating. That is one of the reasons it is advisable to send the coins entirely to an open source wallet before believing the coin safety.

hosseinimr93

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Quote from: suzanne5223 on December 15, 2022, 01:13:31 PM

I never use a Trust wallet for BTC transactions but since the wallet is acquired some months ago by Binance there's a chance that the wallet does request high transactions because Binance is known for doing this to increase their purse.

Binance acquired trustwallet around four years ago and note that they get nothing from transaction fees. All the fee you pay for making transaction on trustwallet goes to miners.

Quote from: suzanne5223 on December 15, 2022, 01:13:31 PM

I will advise you to import the private keys using the electrum wallet, verify the wallet before using and make use of the manual fees option.

Instead of just importing the wallet into electrum, it would be better to create a new wallet on electrum and send all the fund to that.
Also note that trustwallet allow you to adjust the fee rate manually too.

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Quote from: LalitM on December 12, 2022, 11:26:29 PM

I don't have enough for bitcoin miner fees. What should I do?

Should I wait for Bitcoin miner fee levels to adjust downward?

or use a lower than recommended Bitcoin miner fee?

I mostly get my bounty rewards in BSC coins but this time I got in BTC and the fees are pretty high.
I did some research and found out that I can move my btc private key to another wallet, But I don't know if it's safe or not, I can use this and wait for my other btc payments and then move.
Please share your recommendation, thank you

I never use a Trust wallet for BTC transactions but since the wallet is acquired some months ago by Binance there's a chance that the wallet does request high transactions because Binance is known for doing this to increase their purse. I will advise you to import the private keys using the electrum wallet, verify the wallet before using and make use of the manual fees option.

Charles-Tim

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Quote from: LoyceV on December 15, 2022, 11:23:22 AM

When fees are low, you can select many small inputs for your transaction. When fees are high, you select only one large input so you don't waste money on fees.

Oh! That is true. But just that I do make low fee transactions these days since many months ago, although the mempool do get a little congested at times, but I have never thought of making use of several inputs for payment when mempool is less congested, I have only thought of it during input consolidation. But you are right.

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Quote from: Charles-Tim on December 15, 2022, 08:16:50 AM

how is coin control related to the fee paid to make your transaction to be included in a block, I see no relation.

When fees are low, you can select many small inputs for your transaction. When fees are high, you select only one large input so you don't waste money on fees.

Charles-Tim

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Quote from: 2double0 on December 15, 2022, 08:07:46 AM

Please go to https://jochen-hoenicke.de/queue/#BTC,2h,fee every time you want to send your BTC anywhere. Also try coin control features and wallets that allow you to decide fees instead of getting stuck in a wallet that asks you to pay a fixed fee.

It is truly the best to check the mempool before making transaction than depending on wallet fee estimation directly, but how is coin control related to the fee paid to make your transaction to be included in a block, I see no relation. Coin control is only just used for manually selecting the inputs (UTXOs) to spend.

2double0

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Now, as you have resolved your issue as we do not see any messages coming from you, I would like to help you by providing a link where you can visit, check and decide what is the most average fee value (1 SAT/vByte current)!

Please go to https://jochen-hoenicke.de/queue/#BTC,2h,fee every time you want to send your BTC anywhere. Also try coin control features and wallets that allow you to decide fees instead of getting stuck in a wallet that asks you to pay a fixed fee.

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Quote from: LalitM on December 12, 2022, 11:26:29 PM

I don't have enough for bitcoin miner fees. What should I do?

Should I wait for Bitcoin miner fee levels to adjust downward?

or use a lower than recommended Bitcoin miner fee?

I mostly get my bounty rewards in BSC coins but this time I got in BTC and the fees are pretty high.
I did some research and found out that I can move my btc private key to another wallet, But I don't know if it's safe or not, I can use this and wait for my other btc payments and then move.
Please share your recommendation, thank you

Have you tried Electrum dude? This wallet is proven and tested, and it is one of those supported by RBF(Replace by Fee), I have been using it for several years in this industry as well.

Until now, believe me, the fee charged here at electrum dude is very low, although there are other wallets you can use, don't let BSC stay away from them.

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Quote from: LalitM on December 13, 2022, 12:15:40 AM

And for the forum, I use it for information if I want to get any info on bitcointalk. I know most of the sections and how they work but I never post anything because I always thought I will get banned or something if I post any irrelevant post.

Why thinking of getting banned when you can differentiate between relevant and irrelevant posts? Nobody will ban you if you follow Forum rules and posting etiquettes. I'm pretty sure with your time spent so far in the forum, you're familiar with its rules already. Those posting regularly are not in any way better than you mate. Do away with that thought of getting ban and start contributing meaningful to the forum.

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Quote from: LalitM on December 12, 2022, 11:26:29 PM

I don't have enough for bitcoin miner fees. What should I do?
-snip-
I mostly get my bounty rewards in BSC coins but this time I got in BTC and the fees are pretty high.
I did some research and found out that I can move my btc private key to another wallet, But I don't know if it's safe or not, I can use this and wait for my other btc payments and then move.

How many BTC payments have you received so far?
Because each of those inbound transactions are saved as separate "unspent txn output" (UTXO) in the blockchain.
And when you need to send all of your funds, the transaction will have to use all of those UTXO as input;
each added input increases the total size (in virtual Bytes) of your transaction.

The higher the vSize, the higher the absolute transaction would be, for example:
If your transaction's size is 10000 vBytes for having a lot of inputs and your fee rate is 5sat/vByte, the total fee will be: 50,000sats or 0.0005 BTC.
On the contrary, if your transaction has a low size of 200 vBytes, the total fee for 5sat/vByte will only be: 1000 sats or 0.00001 BTC.

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Quote from: LalitM on December 13, 2022, 12:15:40 AM

I'm using Trust wallet for btc. Usually, I use Metamask for my other coin transaction.

Get rid of Trust wallet. It's not entirely open-source, not secure, and neither private. Generally, avoid closed-source software whenever possible, especially for Bitcoin wallets. I'd recommend you staying away from Metamask, as it's neither private (unless you're running a node for the altcoin).

Quote from: LalitM on December 13, 2022, 12:15:40 AM

And for the forum, I use it for information if I want to get any info on bitcointalk. I know most of the sections and how they work but I never post anything because I always thought I will get banned or something if I post any irrelevant post.

Ask freely. There's no dumb question.

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Quote from: LalitM on December 12, 2022, 11:26:29 PM

I don't have enough for bitcoin miner fees. What should I do?

Should I wait for Bitcoin miner fee levels to adjust downward?

or use a lower than recommended Bitcoin miner fee?

I mostly get my bounty rewards in BSC coins but this time I got in BTC and the fees are pretty high.
I did some research and found out that I can move my btc private key to another wallet, But I don't know if it's safe or not, I can use this and wait for my other btc payments and then move.

Bitcoin fees while using a wallet and on an exchange has some staggering difference. In wallets, you have the leverage to set and adjust your fees either by numbing it to meet the memory demand for a speedy transaction but on an exchange, its always determined by the exchange which is often relatively high. A $10+ but, your certain of a speedy confirmation time.

From your raised concern to be receiving your rewards on BSC, that's customary to binance which is an exchange.

If your concerned about the fees, you can as well swap coin to your preferred alt and process with a less fee. Not the best of advice though but it works at times. Better still, use a Bitcoin wallet where you can set the fee you want and bump and broadcast the fee as you want to get a faster transaction.

LoyceV

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General advice: don't use private scamcoins like BSC. It's NOT Bitcoin. Forget it!
Use Electrum. Set fees manually. Read how to save on fees. The very minimum (worth about $0.02) is enough most of the time. Learn how Bitcoin works, and learn what it is NOT. Binance scams their users, either directly, or by convincing them their own made-up shitcoin is Bitcoin. Don't fall for that.

hosseinimr93

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Quote from: LalitM on December 13, 2022, 12:15:40 AM

I'm using Trust wallet for btc.

The network isn't congested now and even if you set the fee rate to 1 sat/vbte, your transaction shouldn't take a long time to be confirmed.
To set the fee on trustwallet, tap on "Setting" button at top right corner of the screen before confirming transaction details.

Charles-Tim

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Why importing private key when you are the owner of the coin? Which wallet are you using? To know if it is a recommendable noncustodial wallet.

The mempool is not that congested, paying 5 sat/vbyte for 1 input and 2 outputs transaction which is of high priority fee will take not more than $0.12 worth of bitcoin as fee. Even if you go for 1 sat/byte, the transaction fee won't be more than ~~0.02 BTC~~ $0.02.

If you want to make transaction, I will advice you to use wallet that support RBF for making transaction, use 1 sat/vbyte. If not confirmed for a long time, pump the fee.

Bitcoin wallets that support replace-by-fee (RBF)

LalitM

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I'm using Trust wallet for btc. Usually, I use Metamask for my other coin transaction.

And for the forum, I use it for information if I want to get any info on bitcointalk. I know most of the sections and how they work but I never post anything because I always thought I will get banned or something if I post any irrelevant post.

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Quote from: LalitM on December 12, 2022, 11:26:29 PM

or use a lower than recommended Bitcoin miner fee?

I pay less than a dollar for bitcoin transactions and it usually takes 20-30min for getting a confirmation for me. I guess this fee is not too much yeah?

Quote from: LalitM on December 12, 2022, 11:26:29 PM

found out that I can move my btc private key to another wallet,

If you have control over your keys, it means you are using a non-custodial wallet. May I know which one? On mycelium mobile wallet, it has fee auto-set according to your priority. Also, better use a native-segwit (bech32) type address than the typical legacy one.
The current average bitcoin transaction fee is: 0.000048 BTC ($0.817)

Edit: Wow, 462 activity and still a newbie (no merits), seems like you are not interested in anything in the forum except bounties 😂

LalitM

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I don't have enough for bitcoin miner fees. What should I do?

Should I wait for Bitcoin miner fee levels to adjust downward?

or use a lower than recommended Bitcoin miner fee?

I mostly get my bounty rewards in BSC coins but this time I got in BTC and the fees are pretty high.
I did some research and found out that I can move my btc private key to another wallet, But I don't know if it's safe or not, I can use this and wait for my other btc payments and then move.
Please share your recommendation, thank you

Topic: I don't have enough for bitcoin miner fees. (Read 357 times)