PSA: Do not make many transactions directly to your wallet

I posted something earlier and it seems like there some people that have made this mistake.

If you DCA into BTC and for example, have 1000 transactions into your wallet instead of 10. Selling all that Bitcoin will be more expensive than selling the Bitcoin you bought with 10 total transactions.

In essence, the more you use the network the more you pay for it.

I’m sure there are some people here that can explain it much more in detail than I can.

I work around to this is to buy on an exchange for a few weeks, then move the BTC to your wallet instead of instantly moving to your wallet after buying.

I know there are a lot of new people here learning about Bitcoin and exploring for the first time so I hope this info helps you as much as it did me.

Hope this helps, and anyone who wants to add to this is more than welcome.



Submitted December 12, 2023 at 08:40PM by Competitive-Can-2484 https://ift.tt/kEtjVpY

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