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Satoshi ₿itconheiro 1y ago

Hello everyone, it’s me again asking newbie’s questions 😛

I just bought a hardware wallet and I was wondering if I have to worry about UTXO.

I buy BTC regularly no-KYC and it comes to one liquid wallet, then I send it to another one to convert it to BTC, then I send to my cold wallet. I’m “hodling” and I’m not planning to move any founds out from my cold wallet, just put them in. Should I worry about consolidating UTXOs?

And most importantly, where is the best place to learn about it?

#asknostr #utxo #bitcoin #introductions #newbie #BitcoinSaveTheHumanity

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bookguy 1y ago

I consolidate to larger uxtos on chain, I try to keep my cold storage uxtos above 0.1 btc. Essentially you are generating a recieve address and sending your smaller uxtos there. Do it when fees are cheap

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Satoshi ₿itconheiro 1y ago

Thank you!!

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Arukoto Satoshirianer 1y ago

Jup just send them to your generated adresses, you need to consolidate them from time to time, this results in a little less privacy and cheaper sending cost.

Consolidate your sats when the fees are low and you should be good.

#research #utxo management there is no perfect guideline and it is also individual how you use them.

You could start with 0.1 or 0.2 btc utxos

For the future for smaller money u can use lightning ⚡️

This is just a suggestion, who knows the future…

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Satoshi ₿itconheiro 1y ago

Thanks for your advice! Highly appreciated.