Post
Topic
Board Bitcoin Discussion
Re: Are you using low fees?
by
agustina2
on 05/06/2017, 17:31:42 UTC
Sometimes when I withdraw BTC to my wallet, I set really low fees like 50-70 satoshi per byte and wait for weeks, because I'm not going to spend those coins in the near future anyway. I think it's a good way to save a bit of money, because if you look back, you might realize that your fees have added up to a big amount in USD value, while it wasn't always necessary to get those coins confirmed asap.
So, do you use low fees, or always want to get confirmation in a next few blocks?

Nice idea if you are comfortable in that way. For me at the usual case, it's better to make a big transfer at once. Ok let's say you are setting a low priority of 50-70 sats per byte but always doing that for a week, then it's no different from the usual transfers. Im just thankful that even the fees are high, good thing bitcoin price is high.

It's more worse if we are still on below $1,000 but the fees applied to confirmed our transaction will cost $3 or more dollars.