Post
Topic
Board Bitcoin Discussion
Re: How can I avoid paying these crazy transaction fees?
by
wallet4bitcoin
on 10/12/2023, 01:57:06 UTC
I have btc on Electrum mobile wallet.
I want to buy a hat using crypto from an online vendor.
Vendor accepts several crypto currencies.
It's a one time purchase.
I don't want to spent more than 20 cents in transaction fees.
I want the transaction confirmed within a couple of hours.

What are my options?

I thought of Lightning but that is still going to cost me a lot in transaction fees when opening a channel. And since this is a one time purchase, it defeats its purpose because, well, might as well just directly purchase using btc.

So...what can I do?

currently the gas fees on the Bitcoin network is gradualy beoming anoying. I don't see why a transaction will cost anything more than cents but ofcourse we understand the TPS is very low and thise has birthed the high cost of fees based on priority.

If you however must pay your vendor with fees in cents, you must consider paying via other altcoins that charges way lesser.