Using Custom Network Fees for Bitcoin Transactions: A Complete Guide - trittinlair/Ledger-Live-Tips-2000 GitHub Wiki

Bitcoin transactions rely on network fees to prioritize processing by miners. While most wallets automatically estimate fees, there are times when customizing fees can save you money or speed up confirmations. 

This guide explains how to set custom Bitcoin fees in popular wallets, when to adjust them, and best practices for optimizing costs.

Please download the last update of Ledger Live Application:

1.Ledger Live for Windows 10/11

2.Ledger Live for MAC

3.Ledger Live for Android

Why Use Custom Bitcoin Fees?

Bitcoin transaction fees fluctuate based on:

  • Network congestion – High demand increases fees.
  • Transaction size – More inputs/outputs = larger fee.
  • Urgency – Faster confirmations require higher fees.

When Should You Set a Custom Fee?

✔ Saving Money – Lower fees when the network is uncongested. ✔ Speeding Up Stuck Transactions – Increase fees for urgent transfers. ✔ Batch Transactions – Custom fees help optimize bulk payments. ✔ Privacy – Avoid overpaying with default wallet estimates.

How to Set Custom Fees in Popular Wallets

1. Ledger Live

  1. Open Ledger Live and go to Send Bitcoin.
  2. Enter the recipient’s address and amount.
  3. Click “Fees” and choose:
    • Standard (Recommended average fee)
    • Custom (Manually enter satoshis/byte)
  4. Confirm and broadcast the transaction.

2. Electrum

  1. Go to Send > Preview.
  2. Click “Manual” under fees.
  3. Enter your preferred fee rate (sat/vB).
  4. Confirm and send.

3. Bitcoin Core

  1. Open the wallet and go to Send.
  2. Check “Subtract fee from amount” if needed.
  3. Under “Fee”, select “Custom” and enter a fee rate.

4. Trezor Suite

  1. Select Send and fill in the transaction details.
  2. Click “Fee level” and choose Custom.
  3. Adjust the fee slider or enter a value manually.

5. BlueWallet & Mobile Wallets

  • Most mobile wallets (e.g., BlueWallet, Exodus) allow custom fees in the “Advanced” or “Fee Settings” section before sending.

How to Choose the Right Fee

1. Check Current Fee Rates

Use fee estimators like:

2. Fee Tiers Explained

Fee Level Confirmation Time Use Case
High Priority (~50+ sat/vB) Next block Urgent payments
Medium Priority (~20-40 sat/vB) 1-6 blocks Normal transactions
Low Priority (~5-15 sat/vB) Hours/days Non-urgent, cheap transfers

3. Replace-by-Fee (RBF) for Stuck Transactions

  • If a transaction is stuck, some wallets (like Electrum) allow RBF to rebroadcast with a higher fee.

Best Practices for Custom Fees

✅ Monitor Mempool – Check mempool.space before setting fees. ✅ Use Batch Sending – Combine multiple payments into one transaction to save fees. ✅ SegWit Addresses – Use bc1 (Bech32) addresses for lower fees. ✅ Avoid Overpaying – Don’t set excessively high fees unless necessary.

Conclusion

Custom Bitcoin fees give you control over transaction speed and cost. By checking network conditions and adjusting fees accordingly, you can save money or ensure fast confirmations when needed.

For the best experience:

  • Use a fee estimator before sending.
  • Enable RBF if your wallet supports it.
  • Update your wallet to access the latest fee optimizations.

Happy transacting!