Simple tips to save on bitcoin transaction fees

[Findingnemo]

Understand coin control control is a very important feature which is not mentioned.

You can use less utxo if you understand coin control, making transaction size smaller ,i.e. , lower fees

All these methods can only save fees while depositing but withdrawal fee will be outrageous not only when the mempool is congested but all the time especially for bitcoin so people can prefer the LN deposits and withdrawals which incorporated in major exchanges so people can make use of LN especially while withdrawing that let them to move their bitcoin out of exchanges just for few cents instead of spending 10 or 20 dollars per withdrawal.

[bitmover]

All these methods can only save fees while depositing but withdrawal fee will be outrageous not only when the mempool is congested but all the time especially for bitcoin so people can prefer the LN deposits and withdrawals which incorporated in major exchanges so people can make use of LN especially while withdrawing that let them to move their bitcoin out of exchanges just for few cents instead of spending 10 or 20 dollars per withdrawal.

Withdrawal fees depends on the exchange.

I remember FTX a few years ago. They had zero BTC withdrawal fees (but mining fees were very low).

Certainly LN is good, specially when transfering money between exchanges. Personally, I don`t like LN wallets and I think all of them are somewhat unsafe and nobody should use for high amounts

[Findingnemo]

All these methods can only save fees while depositing but withdrawal fee will be outrageous not only when the mempool is congested but all the time especially for bitcoin so people can prefer the LN deposits and withdrawals which incorporated in major exchanges so people can make use of LN especially while withdrawing that let them to move their bitcoin out of exchanges just for few cents instead of spending 10 or 20 dollars per withdrawal.

Withdrawal fees depends on the exchange.

I remember FTX a few years ago. They had zero BTC withdrawal fees (but mining fees were very low).

Certainly LN is good, specially when transfering money between exchanges. Personally, I don`t like LN wallets and I think all of them are somewhat unsafe and nobody should use for high amounts

Nowadays the withdrawal fees are huge, especially for retail investors so they are forced to withdraw in less frequency which puts their assets at risk.If they optimize LN they can withdraw using LN and simply move the funds to their wallet once their received via LN by that they only pay the mining fees not the withdrawal fees to the exchanges.

Users are still new to LN and they need to increase their inbound value if they want to receive via LN more often.

[Baofeng]

Thanks for sharing these tips! I agree—using non-custodial wallets and adjusting fees is a game-changer. Checking the mempool size before sending is critical, and weekends have also been the sweet spot for me. Great advice for newbies to avoid those crazy $5 fees. Thanks for the resources as well!

Not sure about this, although during weekends there's not much movement as the players are either enjoying the weekends with their families that's why there are no movement at all during this time, or maybe some investors are not resting.

So it's not at all guarantee that weekends fees are lower,  you really have to check mempool first before sending or making any transactions.

Time the market, and you will be good.

[AcornWeise]

Great tips for reducing transaction fees! I'll definitely check out the mempool sites and try sending during weekends to save on costs.

[Crypto_Accountants]

1. Use Low Network Traffic Times
Bitcoin transaction fees depend on network activity. Check platforms like Mempool or BTC Explorer to see when activity is lower and send transactions during those times to save on fees.

2. Choose a Lower Fee Option
Most wallets let you manually set your transaction fee. Choose a lower fee option if your transaction isn’t time-sensitive.

3. Use SegWit Wallets
Switch to a SegWit-enabled wallet (e.g., those with addresses starting with "bc1"). SegWit transactions use less block space, which lowers fees.

4. Batch Transactions
If you’re sending Bitcoin to multiple addresses, combine them into one transaction instead of sending separately. This reduces fees.

5. Consolidate UTXOs
If your wallet has many small unspent transaction outputs (UTXOs), consolidate them when fees are low. Fewer UTXOs mean lower transaction costs later.

6. Consider Layer 2 Solutions
Use the Lightning Network for smaller or frequent transactions. It’s faster and significantly cheaper than on-chain transactions.

7. Double-Check Fees Before Sending
Some wallets automatically choose high fees for faster confirmations. Always review and adjust the fee manually if needed.

[Findingnemo]

1. Use Low Network Traffic Times
Bitcoin transaction fees depend on network activity. Check platforms like Mempool or BTC Explorer to see when activity is lower and send transactions during those times to save on fees.

2. Choose a Lower Fee Option
Most wallets let you manually set your transaction fee. Choose a lower fee option if your transaction isn’t time-sensitive.

There's no such thing as low traffic on the network, it's just random and people always believe that on weekends it's little less but it's just an assumption though, it seems same everyday.

The fee should be appropriate not lower or else the TX might get stuck for a while so either it has to be purged or replaced with higher fee.

Apart from consolidating UTXO, it's important to use the wallet which offers address control that let you to select which UTXO that you want to participate in this TX.

[ContentWriter]

Sending on weekends is the best strategy that has worked for me.

[blockdagnetwork]

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[joniboini]

-snip-

This has nothing to do with saving Bitcoin transaction fees. Not to mention there is no staking on the Bitcoin network either. CMIIW.

Sending on weekends is the best strategy that has worked for me.

As mentioned above, it just feels that way because you have this preconceived notion that the weekend is cheaper. For the last few weeks or so the network has been quite cheap regardless of when you make your transactions. You don't have to wait for weekends unless you're looking to get lucky with your consolidation transaction.