Guys, thanks for the heads up. In your opinion, what would be the best and decent-priced way to send BTC from your Ledger to wallet?
Discussion
I’m not sure rn. I’m trying to assess the situation. I just checked and if I wanted to move the BTC I have been buying for the past couple of weeks to cold storage I would need to pay 85k sats in fees 🫤
I hear you 🥲
I’ve been trying to minimize the number of on-chain transactions I do these days, but the current situation is crazy….
From my side having the exchange (Bison or 21 in Europe) absorbing the cost has helped, but nevertheless I might regret to send some in case of an emergency.
Therefore, you could keep some sats in lightning channels if you need to spend them in case of emergency. Others have speculated that Liquid network (a side-chain of the mainnet) is worth taking a look at👇
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Yes. Tbh I wouldn’t move my bitcoin now, unless it’s absolutely necessary. There’s no other way rn but to pay the high fees. Another option I opted for was to transfer a chunk of sats for daily spending to Phoenix. I paid high fees only once to open some channels. It’s fully non-custodial and it keeps the sats in those LN channels, so I can transact without high fees via lightning.