What fee should I pay for a quick confirmation?

Discussion in 'General Bitcoin Gambling Discussion' started by NKOTB, Sep 1, 2017.

  1. NKOTB

    NKOTB Member

    After a quiet summer, the NFL season starts next week so I suspect I'll be making frequent deposits at CloudBet and Bovada over the coming months. I'm wondering how much you guys pay as a transaction fee in order to get your deposit confirmed quickly.

    Personally I attached a $2 fee and that usually works 90% of the time but some claim that $0.50 is enough so maybe I'm over paying. Thoughts?
  2. Lance

    Lance Member

    the most important factor is that you use a quality wallet that will automatically and correctly charge the correct fee for you. most good wallets allow you to set different fees for different priority transaction. if you want a transaction to confirm in the next block then you simply pay the higher priority fee. in my option the best wallets for estimating fees are...

    iOS - https://greenaddress.it/en/

    Android - https://samouraiwallet.com/

    Hardware Wallet - https://trezor.io/
  3. Humble Servant

    Humble Servant Active Member Staff Member

    I would recommend you follow this twitter Bitcoin fees account for hourly estimates on how much you should pay to get your transaction confirmed in the next hour, day or week.

  4. Pony

    Pony Member

    Most wallets have terrible fee calculators and recommend that you pay anywhere from double to 10x what you actually need to pay. In my experience Samurai wallet has the best fee estimator.
  5. Doyle

    Doyle Member

    once most small payments move to the lightning network, onchain fees will be very cheap.
  6. Humble Servant

    Humble Servant Active Member Staff Member

    Right now during the bear market there is no need to pay too much. This week a bitcoin whale moved quarter of a billion dollars and he only paid a fee of $3.80 to do it so don't waste your money on high fees now.
  7. Hernia

    Hernia Member

    The new Blockstream Green wallet gives you three options for picking your fee depending on how fast you need the transaction to confirm. It's my favorite new bitcoin iPhone wallet.

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