Electrum Sending Fee

[viking02]

When i used electrum, the fee to send bitcoin was $0.06 or so.  I did send bitcoin with no fee and it tooked very long so i stopped doing that. 


When i use electrum now, its electrum 2.7.8, whenever i send bitcoin, the fee is $0.25 or so.  Is that the default fee now?  Is there a reason why the default fee for sending bitcoin with the old electrum was $0.06? 


What do you have as the set default for your bitcoin sending fee?  0.0005btc/kb is what it is set to.


Does lowering it mean the transaction will take much lower?


What confuses me is why was the default fee $0.06 with the old electrum and now its higher?   

[steven0021]

When i used electrum, the fee to send bitcoin was $0.06 or so.  I did send bitcoin with no fee and it tooked very long so i stopped doing that. 


When i use electrum now, its electrum 2.7.8, whenever i send bitcoin, the fee is $0.25 or so.  Is that the default fee now?  Is there a reason why the default fee for sending bitcoin with the old electrum was $0.06? 


What do you have as the set default for your bitcoin sending fee?  0.0005btc/kb is what it is set to.


Does lowering it mean the transaction will take much lower?


What confuses me is why was the default fee $0.06 with the old electrum and now its higher?   

0.0005btc/kb is the default fee. The fee is not fixed and will change depending on the size of your transaction and most transactions won't even reach 1kb.
Lowering the fee will make your transactions take longer. In fact, 0.0005btc/kb is already lower than the recommended fee of 0.0008btc/kb.
I'd recommend you increase the fee according to the recommended amount here (if it says "80 satoshis/byte" then use 0.0008btc/kb or if 100 satoshi use 0.001btc/kb). Or use the dynamic fee feature.

[Cereberus]

Electrum has done a few changes and one of them to solve previous versions problems like sending with small fee which took a lot of time.
I think it's fair enough to use the button in the photo below, it solved all my problems ,max 1 transaction of mine takes 30 minutes in the worst case and usually about 10 minutes to confirm. I have put the fee in the maximum and I don't regret it. I even have paid sometimes 0.65 USD fee but compared to fast confirmation that is nothing for me.

[viking02]

Like to add to this.  I have sent bitcoin in electrum to others recently where its for $300-$500 worth of bitcoin each time usually.  The sending fee when i convert it to usd seems higher now... like up to 46 cents.  The other person does receive the bitcoin pretty quick... less than 10 minutes max it seemed... more like even 5.

I have the fees set as default


transaction fee per kb   0.0005 btc/kb

And its checked marked use dynamic fees




Is there a reason the fees are this higher now than back then?  The person who posted that i should set my transaction fee even higher... i dont think that is even necessary as its already very fast.


But if i dont need the btc to be sent that quickly, how much should i lower the transaction fee per kb?  Because if its a site, i dont mind it that much.  But if im sending to a person, obviously i want the btc sent to them quickly.  But say you have to send bitcoin 25+ times a day, the fees do seem to add up quite a bit don't you guys agree?  Obviously if you are doing big amounts, thats not a big deal but if small amounts, well it sort of add up etc.

[shorena]

Like to add to this.  I have sent bitcoin in electrum to others recently where its for $300-$500 worth of bitcoin each time usually.  The sending fee when i convert it to usd seems higher now... like up to 46 cents.  The other person does receive the bitcoin pretty quick... less than 10 minutes max it seemed... more like even 5.

I have the fees set as default


transaction fee per kb   0.0005 btc/kb

And its checked marked use dynamic fees




Is there a reason the fees are this higher now than back then?  The person who posted that i should set my transaction fee even higher... i dont think that is even necessary as its already very fast.


But if i dont need the btc to be sent that quickly, how much should i lower the transaction fee per kb?  Because if its a site, i dont mind it that much.  But if im sending to a person, obviously i want the btc sent to them quickly.  But say you have to send bitcoin 25+ times a day, the fees do seem to add up quite a bit don't you guys agree?  Obviously if you are doing big amounts, thats not a big deal but if small amounts, well it sort of add up etc.

Which fee is best is no longer easy to answer. More often than before the network fills up and users respond with higher fees. It seems often the fees do not go back down to previous levels. Electrum offers a dynamic fee for just that reason. It changes your fee to meet your "I want to be in that block" needs. The block number is not exact though and there are other sites, like e.g. https://bitcoinfees.21.co/ that offer similar estimates.

[szafa]

Now i have btc in electrum and fee is more than btc.

[lihuajkl]

Now i have btc in electrum and fee is more than btc.

what do you mean fee is more than btc? I choose the highest fee 0.001btc/kb, which is still showing it will be confimed in 25 blocks which is way too long for rushing transactions. The best solution is to add higher fees mannually based on bitcoinfees.21.com. http://coinour.com/index.php/how-to-predict-the-transaction-fees/