WE NEED BACK PRIVATE KEYS NOT BACK UP FUNDSWell funny enough I had this friend I introduced
Bitcoin to and after all we said and did, I gave him just a
$1 dollar to make his newly account look good. This was actually in the year
October 2016. Now it's
30th May 2017 and I just figured out this guy lost his way into Bitcoin and left that account blank
. I took the credentials from him and managed to open his account and it's now
$3.95. Wow, what a magic??? Now I want to withdraw all into my current account and I can't even send $2.5. That is the fee for sending is now more than first. First, we had what we used to call
Private Key (WIF) and with that, I can sweep all funds into another account. Does anyone have a new way to do so? Please just asking so I withdraw all funds. I know it kinda sounds funny but the solution might help others in future.
sweeping a private key is basically generating a transaction whose outputs go to the wallet you're using to sweep the key... Since you generated a transaction, there will be a transaction fee. Because of the huge mempool backlog, the transaction fees per byte of transaction data are going trough the roof (well, theoretically, it's because everybody is outbidding eachother, and not because of the backlog, in reality, the outbidding is a result of the backlog)...
You could use bitcoin core or use electrum to create a non-HD wallet and IMPORT the private key instead of sweeping it
Maybe if you told us which wallet software your friend was using, somebody could point you to a way to export the private key.