How to reduce the miner fee for Coinbase wallet transactions?

3 answers

• Nov 24, 2021 · 3 years ago
  One strategy to reduce the miner fee for Coinbase wallet transactions is to use a SegWit address. SegWit (Segregated Witness) is a Bitcoin improvement proposal that reduces the size of transactions, resulting in lower fees. By using a SegWit address, you can save on fees and make your transactions more cost-effective. Make sure to check if Coinbase supports SegWit addresses before using this strategy.
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• Nov 24, 2021 · 3 years ago
  Another way to reduce the miner fee for Coinbase wallet transactions is to choose the right time to send your transactions. Bitcoin transaction fees can vary depending on network congestion. When the network is less congested, fees tend to be lower. Keep an eye on the network congestion and try to send your transactions during periods of lower activity to save on fees.
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• Nov 24, 2021 · 3 years ago
  At BYDFi, we recommend using a decentralized exchange (DEX) instead of Coinbase to reduce miner fees. DEXs operate on blockchain networks and allow you to trade directly with other users, eliminating the need for intermediaries like Coinbase. This can result in lower fees and more control over your transactions. Consider exploring DEXs as an alternative to Coinbase for reducing miner fees.
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