Now is the time to consolidate your small BTC inputs. I just sent a transaction of 20sat per kbyte and it confirmed in the next block

The meme pool is clearing and transactions are becoming way cheaper to send. I just sent a simple 1input/1output tx that was @200 bytes for about 45 cents.
Now is the time to collect up all your dust in wallets and combine them into one adddy, preferably a segwit address.
Did you know you can use an existing electrum seed to generate a segwit wallet? I used a wallet that had zero BTC. The process is simple. Go to

"new"  

then select

"next: (name it something like the "segwit") 

then select

"standard wallet"  

then select

"I already have a seed"  .  

Enter the seed, but then select

"options"  

Select

"Bip 39"  

then for derivation path put

m/49'/0'/0'

Then you'll have segwit addresses that start with a "3" these addresses can send to legacy addresses or to Bech32 (no one is really using bech32 yet, but electrum will generate those)

A segwit transaction is:

segwit address to segwit address

or segwit to legacy

However legacy to segwit IS NOT a segwit tx and you will not benifit from the savings. Segwit txs are smaller so you'll pay less fees AND you won't clog up the memepool.


Comments


[6 Points] MuscleMan33:

When i try and send it to my segwit address from another bitcoin address it says address not comparable or something like that.


[1 Points] None:

[deleted]


[1 Points] DopeLizzard:

Thank you for this will try it out


[1 Points] None:

Just installed electrum with a segwit address. What kind of savings will I see on TX free?