Community post
The Minimum Cost For Wallet Bitcoin
what kind of bitcoin wallet with the cheapest cost for transaction like sell or buy ? For the example i am using Luno wallet with each transaction in their wallet charged $2 either sell or buy. If you are trader with small funds like me you must consider this cost for our profit. So let me know what wallet do you use for your bitcoin and their charged. Thank you
Replies (3)
you could try out the Electrum wallet, which lets you set any fee for your transactions, though you need to enable the option manually in the settings. Be careful, though: If you choose too small a fee, your transaction might forever stay in Bitcoin's backlog. Coinomi is another (mobile-only) wallet which lets you customize your transaction fees.
luno is an exchange, not a real wallet. GDAX has 0%-0.25% fees, while coinbase is 2% or smth like that.
Fore real bitcoin wallets, you can set the transaction fees yourself, but the probablitiy of the transaction being processed is higher the fees are. All wallets are equal in this regard, and what will influence the transaction fee is the state of the network, not the wallet you're using.
I use bitstamp ... 0.25% per transfer and if you withdraw to a European Bank ... it's only 90 Euro Cents!