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20 sats \ 10 replies \ @OT 23 Mar \ on: UTXO consolidation - What's you best option(s)? bitcoin_beginners
Some exchanges have a threshold set for auto withdrawals.
I think the best way (if stacking daily) is to send directly to your LN wallet. When it becomes full you can swap a large chunk to cold storage.
Thanks for the tip! I just set up my 1st non- custodial lightning wallet (Phoenix), used custodial before that. I usually go exchange to cold storage, but could try the lightning path. Due to liquidity channels I assume lightning is more expensive? Exchanges like Swan allow free withdrawals
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Free withdrawals? How do they manage that?
The exchange I used to use in Australia is called bitaroo. They have 1k sat withdrawal fees to wallet of satoshi. 3k to other LN wallets.
Yeah, phoenix has higher fees. Its the price you need to pay to hold your own keys and have a LN wallet that works well.
I personally don't mind using custodial LN for smaller amounts. I think when you get around 1m sats, its time for cold storage.
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Yup on the fees. Here you go https://www.swanbitcoin.com/fees/
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Yeah I’m 0 for 2 with custodial ones in the US. Blue Wallet and Wallet of Satoshi no longer work for me. Any good custodial ones for smaller amounts?
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Ok thanks for the homework:-)
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@OT coinos.io sounds interesting. I assume you use it? Looks light a custodial lighting wallet?
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Ok cool thanks. All my custodial ones no longer work(blue Wallet, Exodus) I just have the one on this site and Fountain, so I’m looking for another stand alone one.