Hi Im looking for a good Bitcoin wallet that allows me to send exact amounts of bitcoin, accounting for transaction fees. Im new to bitcoin so Im not sure if all wallets do this. For example, if I wanted to send exactly 0.00025 btc ($2 usd), do all wallets let me do this? Or would the person Im sending it to receive like 0.00020 btc ($1.6 usd) after transaction fees. Basically I want to send exact amounts, and I want to be the one to pay the transaction fees when sending bitcoin. Quite a number of websites accept bitcoin as payment now, and most ask for exact amounts. I really like how anonymous bitcoin is for payments, especially for websites that I dont want put banking details into, so thats why Im looking for a good wallet. I like BitPay because they sell gift cards in the app but Im not sure how fees work with BitPay.
Basically, try to steer clear of custodial wallets where you dont control or have access to your keys. Not your keys, not your coins.
I would suggest avoiding BitPay as well. Their practices and fee structure are not in your best interest.
Main thing is to get your coins off the exchange and into your own wallet.
Personally I prefer Electrum ) but do some research and dont take my word for it !
Only words of mine you should take serious you will hear from many others, i.e. not your keys = not your coins.
Even though you shouldnt take one persons word for it, Id* also recommend Electrum.
*I may or may not be the same individual in real life as DizzyClue – you never can tell on the internet. Multiple recommendations may indeed orginate from just one real life individual or organisation.
electrum or any wallet that allows native segwit single sig with RBF(so you can lowball the fee and bump later easily if need be) and you get the lowest fees. You want your btc to be in an address that starts with bc1 for lowest fees.
that is one of the worst wallets to use because its buggy and lacks segwit so much higher fees.
The correlation between larger txs(thus larger tx fees) has more to do with dust (you received many small txs into your wallet instead of a single one) and nothing to do with the value of the tx directly (although very valuable txs typically are larger because they need to cover multiple inputs to fund the total amount, but not necessarily)
Thus a tx of 1 million usd in BTC can technically have a lower tx fee (because the weight/size is smaller ) than a BTc tx worth 50 USD (because its filled with dust)
Batching when you can (electrum and core wallets has sentomany built in )
send from native bech32 segwit addresses (your BTC address starts with bc1)
Follow the fee market and manually set thee right priority
Make sure you use a wallet that uses RBF (Replace by fee) so you can easily bump the fee if need be. Examples are Bitcoin core, electrum, blockstream green, so you can set the fee very low manually and than bump it up as needed
5) Exchanges like coinbase pro and cash app pay the withdrawal onchain fee for you
6) Where possible use lightning wallets and transactions which have fees below 1 penny USD –
Sender always pays fees. Bitcoin is not anonymous.
Wallets are never a website. Good wallets allow you to set fees. Avoid any that dont.
Hi Borentz, almost all popular non-custodial wallets send the exact amount you type in to the recipient and subtract fees from what remains. If you enter inbc1qnc2hpyvwelfsx2m0wq2cf02cwrqxrmfdxmd7stas the receive address and 0.5 BTC as the amount to send for example, and you had 1 BTC in your wallet, the outputs would be 0.5 BTC to the recipient, and ~0.49999856 BTC back to you (0.5 minus whatever the fee was).
Those are my favorites and check all your boxes. They work well together too.
I like BitPay because they sell gift cards in the app but Im not sure how fees work with BitPay.
Use Atomic Wallet and that will solve your issue.
Almost every wallet does this. I think BitPay might be one of the few that dont.
What you might find is some wallets underpay the fee (causing your transaction to take longer) or overpay the fee (causing you to spend funds you didnt need to).
If you are using a wallet that supportsreplace-by-fee(RBF), and have it enabled before creating your send transaction, you can feel comfortable going on the lower-end of the transaction fee range. If the transaction doesnt confirm soon enough for you, you simply bump the fee using RBF.
Theres also the fee bumping method known as child-pays-for-parent (CPFP). If you send a transaction and the fee was too low, you can spend the change transaction but double up the fee required. This will cause the miners to look at both transactions as a set, and the combined fees should then be high enough to get both confirmed. CPFP also can be done if you are the recipient of the funds.
Hardware wallet (highest security):Trezoror LedgerNano S
Android wallet:Samourai WalletElectrumEclair(with Lightning functionality)
Mostly agree, except for the paper wallet method.
You could even go 2 of 3 multisig, each being a different hardware wallet type: trezor + ledger + coldcard key:
Why dont you just try it? They all work like that, to my knowledge.
Bitcoin core lets you control exactly how much you send and what amount to give to miners, if any.
Im curious about this part. I mean, I know Bitcoin Coreused toallow you to send free transactions, but do recent versions of the software allow it?
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