To save some extra fee on Bitcoin transaction, it’s advisable to Customize your transaction. You can even customize it to pay more for a quick transaction confirmation, which takes 10-20 minutes. Seriously, that’s why we are here and bring this post for you today. We would be talking about wallet you can actually use in saving fair money in the transaction charges or reduce your transaction confirmation time!
BTC Wallets That Support Custom Transaction Fees
You got some wallets in the market that support you to set custom transaction. charges to Bitcoin while making a transaction.
Below are the list.
The one that top our list is
1. Ledger Nano S (Hardware Wallet)
Ledger Nano S happens to be one of my best wallets because it got everything one can ask for.. What is mean by everything is they are very fast in implementing and also supporting new cryptocurrencies also new features.
On related lines, they were also the first in the cryptosphere to perform segwit addresses that assist save big in transaction charges.
The sweet part is that they’ve got a feature that could customize your Bitcoin. Transaction fee while sending a BTC transaction.
I’ll be putting you through on how you can use all this feature and also set. your customs fees in satoshis per byte in Ledger Nano S.
2. Trezor (Hardware Wallet)
Is the second one on our list, As a matter of fact, Trezor is also one of the best Bitcoin wallets out there in the cryptosphere. They in support of a large number of cryptocurrencies and also quick in implementing segwit addresses for Bitcoin right after its implementation by Bitcoin core. Though, Trezor happens to be the first Bitcoin hardware wallet that actually paved the way for many others like Ledger Nano S and KeepKey. Trezor also got a customs fee feature that supports you to set your fee in satoshis per byte.
3. Coinomi (Mobile Wallet)
Coinomi is one also one of the best wallets out there. Is also my go-to wallet whenever am using multiple cryptocurrencies on mobile. Coinomi supports a plethora of cryptocurrencies and also crypto assets including Bitcoin but the bad part or let m say the sad part of it is that it has not yet implemented segwit addresses for also its users. But to compensate, it also provides its users the freedom to customize their fees while doing a transaction on cryptocurrencies.
Here is how you too can customize BTC transaction fees in the Coinomi wallet:
Settings>Transaction Fees> Bitcoin.
Note: Coinomi always displays fees in BTC per kilobyte. To view it in satoshis per byte, increased this fee by a factor of 100,000 which will reduce to 200 satoshis per byte as per the example led above.
As of writing this article, the app is only available on Android. iOS user exercise patience they are coming to you soon though.
4. Mycelium (Mobile Wallet)
Some of the crypto guys could be familiar with Mycelium, because is one of the oldest Bitcoin wallets in the market and which has been available ever since 2011 and has continuously evolved. They are not in support segwit addresses yet, but you have the option of a customs fee that you can use in Mycelium. They’ve got 3-4 custom fee options that you can choose from. Here is acctually how it shows when you go the ‘send’ option of the wallet.
Take Note: If possible you lose those 12 words, that means you will lose your bitcoins.
You get Download the Mycelium app from Google Play and also check out this new video tutorial on how you can set up your first Mycelium Bitcoin wallet.
5. Jaxx (Mobile/Desktop Wallet)
Jaxx is yet another multi-currency wallet that’s also good to be used and also has a clean, easy to understand UI for the noobs. Presently, they support old Bitcoin addresses which means segwit addresses are yet not implemented in Jaxx. But it does give one to customize his/her fees when sending transactions out. You can do that in Jaxx wallet: SettingsBTC mining fee>>Select from slow/average/fast fees.
The app is available now on iOS mobile/tablet, Chrome & Firefox Extensions, and also MAC/Linux desktop versions.
6.Electrum (Mobile/Desktop Wallet)
Electrum is a lightweight Bitcoin wallet that gives cold storage and also multi-signature features. It is also one of the superb and most trusted Bitcoin wallets available in the market, just like Mycelium . It is an open source project launched under an MIT license. It was also one of the fastest wallets to implement segwit for its users. Aside from being quickest, it is both, a desktop and a mobile wallet, that let its users customize Bitcoin transaction fees both in desktop and mobile versions of the wallet.
But, you can change and customize your BTC transactions fees in electrum mobile wallet. Just Go to Settings>Fees, and you will see the screen (below) with a customs fee slider that’s gonna predict when your transaction with that particular fee will be picked.
Take Note: Electrum displays the fee in mBTC per kilobyte. To view it in satoshis per byte, kindly multiply this fee by a factor of 100 which will reduce to 906 satoshis per bytes as per the above example.
Presently, it is available for just Windows, Mac OSX, Linux, and Android.
Parting Words It’s reliable also a safe to say that the fees war will continue for some time. However, using segwit addresses and custom fee wallets is a workaround for now.
YES!!! There is a huge different if you make SegWit available. Just look this two images as a prove (Sending $100 from Exodus Wallet vs Sending $100 from Ledger Nano S – SegWit Enabled). You're ignoring your users dudes. pic.twitter.com/kqcknV1ugX
— CoinCrispy (@coincrispy) December 21, 2017
If you want to understand how you can choose the correct custom fee, you should read this article: How much transactions fees you should pay for
I know some of you might be feeling the weight of so much information on Bitcoin fees, segwit, hard forks, etc., seriously, this is the way it works in the cryptosphere.
Moreso, you don’t need to worry because insurancequotestip will keep sharing knowledge and also information with our community for everyone’s benefit. In “insurancequotestip,” we believe that learning every day is an absolute must For people every living soul involving themselves in the cryptosphere. That is all on my side.