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Lower your transaction fee

Bitcoin Reddit

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I have seen way to many people be surprised with transaction fees in 10k$ range.

That happens because people send bitcoin to their wallet every time they dca and with that they create a lot of UTXOs, which means their transactions are very large (more UTXOs means more inputs = higher fees).

To get rid of this problem you should keep your bitcoin on exchange up to "x value" and only then send it to your wallet. That will decrease fees drasticly.

To lower your fees even more once you have more that "x amount" of UTXOs you can send them all to one address in your wallet to make future transaction even cheaper (because less inputs = lower fees)

For even lower fees make sure your wallet is using "segwit addresses" 99% of them already do that automaticly

For more information read up on UTXO consolidation.

submitted by /u/tidiss
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