Hi, this is Bitcoin Ben. Today I’m going to talk to you about how to avoid high fees and transaction times when using Bitcoin.
First, let’s talk about fees. You can avoid high fees by utilizing the Bitcoin network more efficiently. More specifically, you should use a wallet that allows you to adjust the fee for each transaction. This means that you can send transactions with lower fees when the network is not congested, and higher fees when the network is more congested.
You can also avoid high fees by using a service like CoinJoin, which allows you to combine your transaction with other users’ transactions, thus reducing the fee for each transaction.
Now let’s talk about transaction times. You can avoid long transaction times by using a wallet that supports the SegWit protocol. SegWit is a protocol that allows for faster transaction times by reducing the size of each transaction, thus reducing the amount of data that needs to be sent over the network.
Finally, you can use the Lightning Network to make transactions even faster. The Lightning Network is a protocol that allows you to make instant, near-zero fee transactions.
In conclusion, there are a few ways to avoid high fees and transaction times when using Bitcoin. You should use a wallet that allows you to adjust the fee for each transaction, use a service like CoinJoin to combine your transactions with other users’ transactions, use a wallet that supports the SegWit protocol, and use the Lightning Network for near-zero fee transactions.