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Author Topic: $160 fee to send $10?  (Read 182 times)
Vakulin
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July 09, 2019, 01:29:04 PM
Merited by DarkStar_alt (1)
 #1

Hello everyone,

Does anybody know why my Electrum wallet is asking for $160 fee if I send $10?

Screenshot: https://imgur.com/a/N0ezP4T

https://i.imgur.com/OHtkZKp.png

Thanks,
Lev
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July 09, 2019, 01:31:10 PM
 #2

Hello everyone,

Does anybody know why my Electrum wallet is asking for $160 fee if I send $10?

Screenshot: https://www.dropbox.com/s/y5t87d9d1bre2y8/Screenshot%202019-07-09%2017.25.01.png?dl=0

Thanks,
Lev
I am not clicking the image, not sure really what do you have in there. Feel free to upload it on imgur.com.

By the way, I just made a transaction and I paid only 1 sat/byte fees which is not more than $0.02. It's showing 19.92 MB from tip and I am sure this will be confirmed in the next 24 to more or less 48 hours. So not sure what is happening with you.

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NeuroticFish
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July 09, 2019, 01:34:08 PM
 #3

The fee depends on the number of inputs, the number of outputs and the chosen fee satoshi/vbyte.
If your fee is that big, probably you have a lot of small inputs. It's like you want to go to the grocery store with 100$ made of 1 cent coins. It could be expensive to rent a truck to carry those coins, you know.

Try to skip the too small inputs. And learn about consolidating your inputs when the network clears up: https://bitcointalk.org/index.php?topic=2848987.0

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July 09, 2019, 02:02:56 PM
 #4

Drag that slider all the way to the left and repost the fee.

If it's still high you can go to preferences and click to edit fees manually.

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July 09, 2019, 02:28:50 PM
Merited by ETFbitcoin (1)
 #5

Vakulin, you should click on Preview button and see how many inputs / outputs you have, because that may be problem for such high fee Electrum is showing to you. You can set fees manually, but at least pay over 10 000 satoshi fee if you want to use some transaction accelerator (ViaBTC).

I just check some sites where we can see current fees, and for standard size transaction of 226 bytes you need to pay around 11000 satoshi for next block confirmation. In your case $160 in fees is result of something like 200 inputs / 200 outputs which is over 25460 vbytes even with SegWit.

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Use SegWit and enjoy lower fees.


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July 09, 2019, 06:11:21 PM
Merited by suchmoon (4), hugeblack (2)
 #6

Try to skip the too small inputs. And learn about consolidating your inputs when the network clears up: https://bitcointalk.org/index.php?topic=2848987.0

For reference, you can do it by :
1. Select "Coins" tab
2. Click "Amount" to sort by value for easier selection
3. Hold "Ctrl" button, then choose all UTXO you want to use
4. Right click on any UTXO you choose and select "Spend"
5. Then you should see "Send" tab and proceed to create transaction

On a side note, you might want to crop your images. You're exposing few private info such as receiving address & bitcoin amount, this might attract people who want to steal your coins with social-engineering attack.

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July 10, 2019, 02:00:16 PM
 #7

what is that icon in the bottom right? i've never seen that in electrum
BitCryptex
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July 10, 2019, 03:26:30 PM
 #8

what is that icon in the bottom right? i've never seen that in electrum

It appears only if you select 'Use a hardware device' while creating a new wallet. The green dot indicates that the hardware wallet has been detected and unlocked. This is what the icon looks like if you have a Trezor device.


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July 10, 2019, 05:09:34 PM
 #9

It's a ledger logo...

what is that icon in the bottom right? i've never seen that in electrum





OP hasn't come back since 4pm on 9th. They either got their solution, forgot they made this topic or just sent the transaction anyway..

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July 11, 2019, 03:12:02 AM
 #10

what is that icon in the bottom right? i've never seen that in electrum

there you go: https://github.com/spesmilo/electrum/blob/61bf5ce59aa7397b021d2f6f30289b09c1f3c2cb/electrum/gui/icons/trezor_unpaired.png

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July 11, 2019, 10:31:26 AM
 #11

I think you mean this one: https://github.com/spesmilo/electrum/blob/61bf5ce59aa7397b021d2f6f30289b09c1f3c2cb/electrum/gui/icons/ledger.png

Wink

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July 11, 2019, 03:42:36 PM
 #12

thanks guys Smiley
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