Thank you all for the tips. Sounds like mining to exchange address may be easiest; however, I guess they have minimum transfers to avoid this?
I had been using NiceHash to test out, so mining to BTC. Now using zpool. After next payout I will see what it costs / use a tx accelerator and then maybe switch.
I am UK based
Topic: Reduce high transaction fee for small miner (Read 118 times)
If you want to mine ETH to cash out in to fiat and are in the US, you can use a GDAX (owned by Coinbase) ETH wallet address, trade the ETH to BTC, transfer the BTC to Coinbase for free and then sell the BTC for USD and transfer it to your bank account for a fee or get a Shift debit Visa card connected to your Coinbase wallet to spend the BTC with no fees.
The minimum deposit amount is 0.01 ETH and GDAX only charges 0.30% fee on the taker of the trade. Transfers from a GDAX wallet to a Coinbase wallet are free and instant. Cash back transactions with the Shift card and purchases are also free or you can do an ATM cash withdrawl for a $2 fee + the ATM fee.
The minimum deposit amount is 0.01 ETH and GDAX only charges 0.30% fee on the taker of the trade. Transfers from a GDAX wallet to a Coinbase wallet are free and instant. Cash back transactions with the Shift card and purchases are also free or you can do an ATM cash withdrawl for a $2 fee + the ATM fee.
Hi All, as a small scale miner I am finding the transaction fees to transfer my bitcoins from my wallet extremely high (over 10-15%). I understand this is because it consists of many small transfers in. Does anyone have any recommendations to help avoid this? I had read it may be possible to mine to an exchange address (though this is inadvisable normally...) and then transfer out in chunks to own wallet. Any advice is much appreciated.
okay many methods can work you can try mining directly to an exchange.
you can try doing a low fee like 30 sats a byte then using a tx accelerator.
you can mine at a pool that is small and does not hit many blocks. you get a bigger share when you hit but it can take a month to hit that block
this one
http://mmpool.org/
or this one
http://bravo-mining.com/
don't hit blocks often
Hi All, as a small scale miner I am finding the transaction fees to transfer my bitcoins from my wallet extremely high (over 10-15%). I understand this is because it consists of many small transfers in. Does anyone have any recommendations to help avoid this? I had read it may be possible to mine to an exchange address (though this is inadvisable normally...) and then transfer out in chunks to own wallet. Any advice is much appreciated.
Jump to: