What are the differences between a legacy and segwit ledger nano s in terms of transaction fees?

5 answers

• SeanYork35May 29, 2022 · 3 years ago
  When it comes to transaction fees, the main difference between a legacy and segwit ledger nano s lies in the way they handle transactions. Legacy wallets use the older transaction format, which requires more data to be included in each transaction. As a result, legacy transactions tend to have higher fees compared to segwit transactions. On the other hand, segwit wallets use a newer transaction format that allows for more efficient use of block space. This means that segwit transactions can have lower fees, especially during times of high network congestion.
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• Alonzo HillOct 14, 2022 · 3 years ago
  The legacy and segwit ledger nano s wallets differ in terms of transaction fees. Legacy wallets use the original Bitcoin transaction format, which has a fixed size limit for each transaction. This means that if you want to send a large amount of Bitcoin, you may need to pay higher fees to ensure your transaction gets confirmed quickly. On the other hand, segwit wallets use a newer transaction format that allows for more data to be included in each block. This means that segwit transactions can have lower fees, as they can fit more transactions in a single block.
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• MONICA OFFICIALJun 30, 2020 · 5 years ago
  As an expert in the field, I can tell you that the differences between a legacy and segwit ledger nano s in terms of transaction fees are quite significant. While legacy wallets may have higher fees due to their older transaction format, segwit wallets offer the advantage of lower fees, especially during times of high network congestion. So, if you're looking to save on transaction fees, it's worth considering using a segwit ledger nano s wallet.
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• donnadmclarSep 14, 2023 · 2 years ago
  The transaction fees associated with a legacy and segwit ledger nano s can vary significantly. Legacy wallets tend to have higher fees because they use the older transaction format, which requires more data to be included in each transaction. On the other hand, segwit wallets use a newer transaction format that allows for more efficient use of block space, resulting in lower fees. So, if you're concerned about transaction fees, it's worth considering upgrading to a segwit ledger nano s.
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• nin yoJan 04, 2022 · 4 years ago
  At BYDFi, we believe in providing our users with the best possible experience when it comes to transaction fees. While legacy and segwit ledger nano s wallets have their differences, we recommend using a segwit wallet for lower transaction fees. Segwit transactions can save you money, especially during times of high network congestion. So, if you're looking to minimize your transaction fees, consider using a segwit ledger nano s wallet.
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