Questions tagged [cheapest time to send]

EclipseRider Tue Jul 02 2024 | 7 answers 969

When seeking the cheapest time to send Bitcoin, it's essential to consider a range of factors. Market volatility can greatly impact transaction fees, with fees often lower during off-peak hours when fewer transactions are occurring. Additionally, the use of lightning networks or other second-layer solutions can significantly reduce costs. However, there's no definitive 'cheapest time' as it varies based on network congestion and miner fees. To find the most cost-effective time, it's advisable to monitor transaction fees over time and utilize tools that provide fee estimates. This allows you to plan transactions strategically during low-cost windows to optimize costs." Question: I'm a casual Bitcoin user, and I'm always looking for ways to save on transaction fees. Could you elaborate on the best practices for finding the cheapest time to send Bitcoin?