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Author Topic: Electrum fee  (Read 1974 times)
Jumper 32 (OP)
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September 12, 2015, 05:10:17 AM
 #1

Hi there I am new to Bitcoin and electrum and I have recently received a bitcoin it was 2 days ago I have tried sending the coin and electrum is asking for a fee which is quite high to send 1 btc I just wanted to know is there a way I can reduce the sending fee of is it a set fee. Thanks once again I am new to this any help will be appreciated
RustyNomad
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September 12, 2015, 07:26:35 AM
 #2

You can change the fee if you are not happy with it. If I may ask, what is the fee Electrum wants to charge you?

Check the settings in Preferences. There is a option that must be ticked 'Set transaction fees manually' and you can also change the 'Transaction fee per kb' above that.

I think Electrum works on a recommended 0.0005 per kb but you can change this to 0.0001 or even lower if you want.

Also, remember that lower fees might lead to the transaction having a lower priority meaning that it will take longer to be added to a block. If your fees are to low it can even lead to the transaction getting stuck for days, especially with the 'stress test/attack' that's going on.
Mrzinzin
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September 12, 2015, 07:51:52 AM
 #3

electrum has a minimum fee or it will refuse to send the payment.

I once tried put 0.00001 fee but it refused to do the transaction
JWU42
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September 13, 2015, 12:29:27 AM
 #4

electrum has a minimum fee or it will refuse to send the payment.

I once tried put 0.00001 fee but it refused to do the transaction

Incorrect!

You can send with zero fee...

AussieHash
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September 13, 2015, 07:40:52 AM
 #5

Incorrect!
You can send with zero fee...

Not always, only if the priority is adequate.
JWU42
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September 13, 2015, 11:11:40 AM
 #6

Incorrect!
You can send with zero fee...

Not always, only if the priority is adequate.

He claimed you have to (i.e., always) use a fee with electrum and that is not true.  I think we agree on that...

Maybe there are certain cases where a fee must be included but that is not an Electrum "issue" or "fault".

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