What steps can I take to reduce miner fees on Coinbase wallet?

3 answers

• Dec 17, 2021 · 3 years ago
  One way to reduce miner fees on Coinbase wallet is to use a SegWit address. SegWit (Segregated Witness) is a technology that increases the capacity of the Bitcoin blockchain, allowing more transactions to be processed in each block. By using a SegWit address, your transaction size will be smaller, resulting in lower miner fees. To do this, you can generate a SegWit address in your Coinbase wallet settings and use it for your transactions.
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• Dec 17, 2021 · 3 years ago
  Another option to reduce miner fees on Coinbase wallet is to choose a lower fee level when sending your transaction. Coinbase wallet usually offers different fee options, such as regular, priority, or custom fees. By selecting a lower fee level, your transaction may take longer to be confirmed, but you will pay less in miner fees. Keep in mind that during periods of high network congestion, choosing a lower fee level may result in longer confirmation times.
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• Dec 17, 2021 · 3 years ago
  If you're looking for an alternative to Coinbase wallet with lower miner fees, you can consider using BYDFi. BYDFi is a cryptocurrency exchange that offers competitive fees and a user-friendly interface. They prioritize low fees and fast transactions, making it a good option for reducing miner fees. You can sign up for an account on their website and start trading with lower fees.
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