Post
Topic
Board Beginners & Help
Re: Input from community on transfer fees
by
tranthidung
on 25/05/2024, 16:36:11 UTC
Anyhow, here's my dilema: I've been slowly accumulating Satoshis this year, and I also bought a cold storage wallet recently.  I tried today to move a small amount of BTC to the wallet as a "test" transaction to insure it went to the designated wallet, but the fee was a lot of money in my opinion.
Slowly accumulating satoshis this year, does it mean you do multiple purchases, not only one?

It's good that you can spend money to buy a cold storage wallet but this is strange that you can not spend some money for transaction fee.

Cold storage wallet is good but if you can not have more money for it, you can use free wallet software, open source like Electrum wallet. You can set it up as single signature wallet or multi signature wallet, free.

Transaction fee now is cheaper than weeks or months ago and gives you good time for practice with on-chain transactions, pay fee.

If you have been accumulating bitcoin since start of 2024, you would have known about some worse times with more expensive transaction fee last 5 months.