Replying to Avatar Colter Reed

How is the Bitcoin transfer fee (on-chain) determined? Is it just a percentage cut or is there a per-transaction fee, too?

Put another way, should you move your coin off of an exchange after every DCA buy or wait and transfer several buys together to minimize your fees?

#asknostr
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techjunkie 1y ago

There is a mempool fee market but when withdrawing from an exchange fees depend on the exchange you are using. Just use lightning to receive on Strike and then withdraw on chain for free with their 24h batch service. (Make sure your utxo is a least > 1M sats)

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Colter Reed 1y ago

TIL that LN withdrawals are a thing. Thanks! I’m working with them to figure out how to do it. (Only 1 of 2 is supported, so I’ll need to do an on-chain withdrawal for the other one.)