Electrum fee

[PDogMak345]

Hi I am completely new to bitcoin and don't know where else to find answers to my questions so here goes. I have installed electrum wallet and am looking to send 10 dollars of bitcoin to coinbase so i can get it into my paypal by tonight. Now, the problem is I see a $3 fee when i preview the transaction on electrum. For a $10 transaction that seems outrageously high and it makes it not even worth doing right? Am i doing something wrong? I have it set to "next two blocks".

[TryNinja]

That's unfortunally right. Fees are extremely high in the present days.

But you don't actually need to pay that much. If you choose a fee that right, your transaction will probably get confirmed in less than an hour without any issues. But if you want to save money, you can set a lower fee in the fee slider (or choose one manually) and submit your transaction in a free transaction accelerator - such as ConfirmTX[1] or ViaBTC[2].

[1] https://confirmtx.com/ - Free if your transaction size is lower than 500 bytes.
[2] https://pool.viabtc.com/tools/txaccelerator/ - Free. But only accept transactions with a fee higher than 10 sat/byte.

[Thekool1s]

Hi I am completely new to bitcoin and don't know where else to find answers to my questions so here goes. I have installed electrum wallet and am looking to send 10 dollars of bitcoin to coinbase so i can get it into my paypal by tonight. Now, the problem is I see a $3 fee when i preview the transaction on electrum. For a $10 transaction that seems outrageously high and it makes it not even worth doing right? Am i doing something wrong? I have it set to "next two blocks".

The Mempool is fairly empty right now, Just send half of whatever https://bitcoinfees.earn.com/ recommended is and submit the transaction id in a trx accelerator just like 'TryNinja' has recommended.