Post
Topic
Board Bitcoin Discussion
Re: Are you using low fees?
by
jovs
on 14/06/2017, 00:53:54 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?
In choosing the fee you going to use in transaction, you should consider things like your need and how you are going to used in transaction. Because the differences of each transaction fee is base on  the time or how long it will take to proceed the transaction and if you are going to used or the transaction is quite urgent it is better to used high fee with the high transaction value because it may less the amount of fee. But if you do not need the transaction is much better to use low fees in transaction and wait for conformation.