What is the most cost effective method to transfer 1 BTC between two wallets? Sending in one piece or split into smaller bits?

[Brushless4500KV 4214]

When it comes to transferring bitcoin, large fees is the main problem. Suppose you have 1 BTC and want to transfer all of it to another wallet address. If you send it in one single transaction, you have to pay high fees for it. I thought about dividing 1 BTC into 10 smaller parts (each 0.1 BTC) and send them one by one to reduce the fees. What do you think about this method? Will the total fees from 10 transactions (if we add them all together) be higher than just one fee for sending 1 BTC? Is there any relationship between the amount of bitcoin fees for sending higher or lower amounts? I have not tried these methods myself. So, I want to make sure if I am right or wrong.

I know there are faster and maybe cheaper methods to send BTC like using Lightning Network or converting it to other coins with less fees but please remember that in this topic I only want to talk about sending bitcoin through the original blockchain network. So, don't suggest alternative methods.

[Zaino34 0]

My friend, I think it is better to transfer with one transaction because there is not a big difference in fees. Also, if we do a large number of transactions, we may mistake one of the transfers and lose the amount, so it is better to transfer once and avoid these mistakes.

[rekter 8129]

8 hours ago, Brushless4500KV said:

When it comes to transferring bitcoin, large fees is the main problem. Suppose you have 1 BTC and want to transfer all of it to another wallet address. If you send it in one single transaction, you have to pay high fees for it. I thought about dividing 1 BTC into 10 smaller parts (each 0.1 BTC) and send them one by one to reduce the fees. What do you think about this method? Will the total fees from 10 transactions (if we add them all together) be higher than just one fee for sending 1 BTC? Is there any relationship between the amount of bitcoin fees for sending higher or lower amounts? I have not tried these methods myself. So, I want to make sure if I am right or wrong.

I know there are faster and maybe cheaper methods to send BTC like using Lightning Network or converting it to other coins with less fees but please remember that in this topic I only want to talk about sending bitcoin through the original blockchain network. So, don't suggest alternative methods.

Fees depends purely the wallet you are sending the btc from. In many wallets you can set the fees yourself lower if you are not in a hurry. Dividing transactions in smaller parts doesn't help, except for the feel of security.

[Brushless4500KV 4214]

1 hour ago, magd said:

Suppose you have made a transfer in two transactions, this will pose a great risk to your money in addition to losing a good amount due to withdrawal and transfer fees. As for transferring with one transaction, it saves one-time transfer costs, so I advise you to do so.

Why do you believe making two transactions will increase the risk? I think one transaction that involves a large amount of bitcoin is more dangerous than multiple transactions with smaller amounts because if one transaction (with lots of BTCs) fail, you will lose all you have but if any of the smaller transactions fail, you will just lose a part of your money.

 

On 4/12/2020 at 6:25 AM, IamLeader12 said:

When you send bitcoins in different parts, you will be charged many times the same Commission that will be charged for a single transaction, it is best to send one bitcoin in a single transaction.

So, I was wrong because I always thought that the fees are determined based on the amount of bitcoin you want to send but if it doesn't depend on the amount, then sending the whole amount in one transaction can save me lots of time and money. Thanks for your explanation.

[BitcryptoHan 2557]

What I think is the best is to check and check the address you want to send to before sending it. Even if you use QR code or copy and paste, make sure you check the address again very well. 

[Kamila 291]

I think that it is best to transfer bitcoin in one transaction since most wallets can choose the amount of commission for miners.  

[jamesvince 2389]

You saying that  if sends one bitcoin to another wallet then you are not right because i doing trading of crypto market more then two years and i saw exchanges of crypto market has fixed amount of withdraw fee whether we withdraw one btc or ten btc or only 0.10bitcoin. So transferring one bitcoin into one transactions.

[Michael0606 861]

For me, it is better to transfer in a single transaction, since the interests will be triple and you do 3, since they charge per transaction and volume so it is recommended one, on the other hand, check your address well when they are large amounts.

[Grease Lightning 169]

On 4/11/2020 at 4:48 PM, Brushless4500KV said:

When it comes to transferring bitcoin, large fees is the main problem. Suppose you have 1 BTC and want to transfer all of it to another wallet address. If you send it in one single transaction, you have to pay high fees for it. I thought about dividing 1 BTC into 10 smaller parts (each 0.1 BTC) and send them one by one to reduce the fees. What do you think about this method? Will the total fees from 10 transactions (if we add them all together) be higher than just one fee for sending 1 BTC? Is there any relationship between the amount of bitcoin fees for sending higher or lower amounts? I have not tried these methods myself. So, I want to make sure if I am right or wrong.

I know there are faster and maybe cheaper methods to send BTC like using Lightning Network or converting it to other coins with less fees but please remember that in this topic I only want to talk about sending bitcoin through the original blockchain network. So, don't suggest alternative methods.

The amount of bitcoin is not related to how the fee is calculated. You should read this article below. So you will understand how the miner fee is calculated. 

https://support.earn.com/en/articles/64966-how-do-i-calculate-my-transaction-fee

[Trofimova 133]

I think that it is much more profitable to transfer bitcoin at once in one transaction because when you transfer bitcoin several times in a row you each time give the same amount for a commission that you could give once sending one bitcoin.

[BitcryptoHan 2557]

There is nothing wrong to send it at ones, make sure you abide to the rules of how to secure wallets and make sure you check for the address three or more times after inputting it. 

[DokAgsikap 145]

28 minutes ago, BitcryptoHan said:

There is nothing wrong to send it at ones, make sure you abide to the rules of how to secure wallets and make sure you check for the address three or more times after inputting it. 

It is okay to send it in  multiple transactions because sometimes, there are some delays in sending it, if the transaction you belong comes with a larger ones.

[kadayakito 765]

If you send bitcoins large or split up to send, then the one-time fee is still the same. so I will depend on my needs to send. Sometimes send 1 large bitcoin or sometimes also split up to send to different wallets or to be more secure when sending money.

[BitcryptoHan 2557]

23 hours ago, kirubel said:

I think the fee will be the same, because the fees are calculated based on the amount you transferred, its calculated based on percents lets say a transaction fee for a coin is 2.5% and you wont to send 100,000 satoshis so you pay 2500 satoshis and if you wont to send 1,000,000 satoshi then you pay 25,00 so is the same.

The fee is not the same, you are not trading, trading can calculate fee in percentage but for withdraw or transfer, it is constant and can be high. 

[tienda 8776]

To avoid many times commission charge for each transaction, I think will be better if you you transfer your Bitcoin as a single transaction, so with this option is more advantage because you will save time and money.

[Honny143 13612]

In my opinion you transfer in single pieces is better option, because you divides in parts and send this parts its also take same fees, so I think single transaction is more efficient, and its safe and secure to compared to many transaction.

[George10 9932]

On 4/11/2020 at 11:52 AM, Zaino34 said:

My friend, I think it is better to transfer with one transaction because there is not a big difference in fees. Also, if we do a large number of transactions, we may mistake one of the transfers and lose the amount, so it is better to transfer once and avoid these mistakes.

I agree with you my friend it's better to carry out one transaction because fees are the same and I have seen people transacting more btc than the only 1btc mentioned at low fees.

[MCSGlegend 2210]

I think it is much easier to transfer one bitcoin at once as it will reach you very quickly and you will spend less money on the commission. 

[Brushless4500KV 4214]

On 5/3/2020 at 8:22 AM, ethan1751 said:

I mostly do bitcoin transactions on blockchain wallets. And the cost depends on the amount available, and can use a low cost. If you want to divide the amount of bitcoin, then the fee will be the same and the possibility is greater.

I usually choose the low fees for my transactions but it is often said that higher fees will increase safety and make the transaction irreversible. One thing I want to know is that is there any table or chart that explains how much fees should be chosen in correlation with the amount to be sent? For example, 2 sat/byte for 0.002 BTC. If we can find a formula for calculating the ideal fee for each transaction, we can adjust our fees without confusion and send our coins with the right balance between time and safety. What do you think?

[Jaysen0104 536]

I much prefer to exchange btc first to another currency. Because in this method we are able to avail low cost transaction fees. If you will use bitcoin you will pay big amount of transaction fee in deposit or in withdrawal. So in everytime i will do transfer of funds i use to exchange it first to ripple.

[betelihem 4766]

On 4/11/2020 at 12:48 PM, Brushless4500KV said:

When it comes to transferring bitcoin, large fees is the main problem. Suppose you have 1 BTC and want to transfer all of it to another wallet address. If you send it in one single transaction, you have to pay high fees for it. I thought about dividing 1 BTC into 10 smaller parts (each 0.1 BTC) and send them one by one to reduce the fees. What do you think about this method? Will the total fees from 10 transactions (if we add them all together) be higher than just one fee for sending 1 BTC? Is there any relationship between the amount of bitcoin fees for sending higher or lower amounts? I have not tried these methods myself. So, I want to make sure if I am right or wrong.

I know there are faster and maybe cheaper methods to send BTC like using Lightning Network or converting it to other coins with less fees but please remember that in this topic I only want to talk about sending bitcoin through the original blockchain network. So, don't suggest alternative methods.

No i think its better to send it once, don't split it because your transaction fee is similar and you have to pay the same amoumt for each transactions, lets see yobit the transaction fee is constant link most sites and you will pay 0.0012 satoshis for each withdraws so if you are about to send 1btc you will pay 0.0012satoshis and if you split it in 0.1 satooshis then you will pay 0.0012 for each 10 transactions that you aid.

[Hatred 1388]

Well, I think you just make one transaction other than having 10 transactions. Well, you are just sending the one btc in your wallet and if you send it with 10 transactions, it is just the same. And if you send it to 10 transactions, and add the 10 fees you get, I think you are getting or you will have much more higher fee than sending it with just 1 transaction.

[Saboor 511]

The fees of bitcoin is higher on exchanges compared the the wallet, so if you are transferring it from the exchange, it is better to sent it a once, but if it is wallet, you can send it once or send it in batches, but mind you batches transaction fees are higher when sum together

[MrGeany 297]

it really doe snot matter. your money will be transfered in several minutes but i prefer using 1 transaction. to avoid paying more fees and onc ebitcoin will arrive it will arrive fully so no point of waiting other transaction confirmations. it will just waste of my time.

[Raqeebzy 6456]

If you are talking about cost effective, I believe you are mean the transaction fees. Mathematically, sending the total amount at a time will require a lesser fee than spliting the transaction into parts. But another thing to be also put into consideration is security, sending a huge amount in parts is advisable with auto generation of new wallet address for each of the transaction. Your wallet becomes almost untraceable.