How to save additional fee on Electrum?

[underzero@gmx.com]

Hello everyone,

I just realize that there is an additional fee in Electrum and I think is crazy. 0.001 btc for each transaction. I'm so disappointed. If I have my own electrum node, Could I save the additional fee?

Thanks in advance.

[Rath_]

If I have my own electrum node, Could I save the additional fee?

No, the 0.001 BTC fee is added to your transaction because you have created a 2FA wallet. You can disable 2FA. See the quote below.

If you want to keep using the 2FA, then you can opt to pay 0.0025 BTC for 100 transactions rather than 0.001 BTC for 20, which works out as half the cost per transaction. The transaction fee will also be larger with 2FA wallets since they are multi-sig.

If you don't want to keep using 2FA, then open Electrum, create a new wallet, select that you already have a seed, enter your seed phrase, and choose to disable 2FA. You will now be able to spend your coins without the additional fee.

If you do choose to disable 2FA, you should send all your coins to a brand new non-2FA wallet. Even after disabling 2FA, the wallet remains multi-sig and therefore the transaction remain larger and more expensive than necessary.

Select "Standard wallet" instead of "Wallet with two-factor authentication" while creating a new wallet.

[underzero@gmx.com]

If I have my own electrum node, Could I save the additional fee?

No, the 0.001 BTC fee is added to your transaction because you have created a 2FA wallet. You can disable 2FA. See the quote below.

If you want to keep using the 2FA, then you can opt to pay 0.0025 BTC for 100 transactions rather than 0.001 BTC for 20, which works out as half the cost per transaction. The transaction fee will also be larger with 2FA wallets since they are multi-sig.

If you don't want to keep using 2FA, then open Electrum, create a new wallet, select that you already have a seed, enter your seed phrase, and choose to disable 2FA. You will now be able to spend your coins without the additional fee.

If you do choose to disable 2FA, you should send all your coins to a brand new non-2FA wallet. Even after disabling 2FA, the wallet remains multi-sig and therefore the transaction remain larger and more expensive than necessary.

Select "Standard wallet" instead of "Wallet with two-factor authentication" while creating a new wallet.

Ah ok understood. Thanks for the help.

[nc50lc]

-snip-

Ah ok understood. Thanks for the help.

If you've already made a transaction, you might wanna keep 2FA for now.
Because that 0.001BTC isn't just for a single transaction but for 20 transactions, means that you'll not get charged for the next until the 19th txn.
The payment would've been a waste if you disable it after paying for the first.

More info about 2FA: https://api.trustedcoin.com/#/electrum-help