Post
Topic
Board Bitcoin Discussion
Merits 4 from 2 users
Re: What's happening with Bitcoin transaction fees?
by
hosseinimr93
on 07/12/2023, 18:49:04 UTC
⭐ Merited by Z-tight (2) ,BoXXoB (2)
BitPay wallet is a custodial wallet, so you can neither set nor customize your fee rate,
If you rely on a custodial service such as BitPay and they don't let you choose the fee, then there's nothing you can do.
BitPay wallet is non-custodial and gives users full control over their fund.
BitPay doesn't allow users to set the fee rate manually and it's very bad at fee estimating.

At the time I am writing this post, around 120 sat/vbyte is enough to put your transaction less than 1 vMB from the tip of the mempool and below is how BitPay is estimating the required fee rate.

Super Economy: 149 sat/vbyte
Economy: 199 sat/vbyte
Normal: 281 sat/vbyte
Priority:  281 sat/vbyte
Urgent:  421 sat/vbyte


Since you can't import your recovery phrase from bitpay to electrum ( i tried but address are different). So what you can do is to wait until tx fees go down by checking mempool.space then make a transaction to your non-custodial wallet.
To import a seed phrase generated by Bitpay into electrum and get the same addresses, you must use the derivation path m/44h/0h/0h.