Electrum to Coinbase Transfer

[Slowbalt]

Hello, new to the forum but have been investing in Crypto for about 2.5 years now. I just wanted to get your opinion on this one.

I have transferred from Electrum to Coinbase probably 5 times in the last month. This time I got my funds into my Electrum wallet and immediately did the same thing I always do I transferred them to my Coinbase wallet.

Well about 3 hours later I got the confirmations and I was like sweet and I went to coinbase and the transaction is still unconfirmed. The Confirmations I got I guess were from the sending party to Electrum. But my transfer from Electrum to Coinbase was still unconfirmed.

Normally the transfer takes around 2 hours from Electrum to Coinbase.

It has been 5 hours now and the transfer from Electrum to Coinbase is still unconfirmed. It shows the transaction is pending in my coinbase so I didn't send it to the wrong wallet.

Should I be worried or just be patient?

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[Yakamoto]

Hello, new to the forum but have been investing in Crypto for about 2.5 years now. I just wanted to get your opinion on this one.

I have transferred from Electrum to Coinbase probably 5 times in the last month. This time I got my funds into my Electrum wallet and immediately did the same thing I always do I transferred them to my Coinbase wallet.

Well about 3 hours later I got the confirmations and I was like sweet and I went to coinbase and the transaction is still unconfirmed. The Confirmations I got I guess were from the sending party to Electrum. But my transfer from Electrum to Coinbase was still unconfirmed.

Normally the transfer takes around 2 hours from Electrum to Coinbase.

It has been 5 hours now and the transfer from Electrum to Coinbase is still unconfirmed. It shows the transaction is pending in my coinbase so I didn't send it to the wrong wallet.

Should I be worried or just be patient?

Chances are you didn't put a high enough transaction fee on your transaction from your Electrum wallet to your Coinbase account. Coinbase does all of that automatically, but I don't think Electrum has anything more than a default setting. Chances are that's why you haven't had your transaction be confirmed yet.

My recommendation is to check what the transaction fee settings are on your Electrum wallet and get back to us with what the default value is. That way we can help you determine whether that's the reason for your lengthy confirmation time or not. I'm thinking it is, but I won't be able to tell you for sure until you post the result.

Assuming that the fee is the issue, you should be able to change the default value and prevent this from happening in the future. Alternatively, set a new fee charge every time you send Bitcoin. This prevents overpaying when the average transaction fee is low.

[squatter]

Normally the transfer takes around 2 hours from Electrum to Coinbase.

It has been 5 hours now and the transfer from Electrum to Coinbase is still unconfirmed. It shows the transaction is pending in my coinbase so I didn't send it to the wrong wallet.

Should I be worried or just be patient?

About six hours ago, there was a huge spike in transactions on the network. 15+ MB in transactions have been added to the mempool since then. You can check the network stats here.

Is the transaction RBF-enabled? If so, you can bump the fee up. It'll probably confirm eventually as is, but the network is really congested right until you get above the 50 satoshi/byte level.

[Slowbalt]

Hello, new to the forum but have been investing in Crypto for about 2.5 years now. I just wanted to get your opinion on this one.

I have transferred from Electrum to Coinbase probably 5 times in the last month. This time I got my funds into my Electrum wallet and immediately did the same thing I always do I transferred them to my Coinbase wallet.

Well about 3 hours later I got the confirmations and I was like sweet and I went to coinbase and the transaction is still unconfirmed. The Confirmations I got I guess were from the sending party to Electrum. But my transfer from Electrum to Coinbase was still unconfirmed.

Normally the transfer takes around 2 hours from Electrum to Coinbase.

It has been 5 hours now and the transfer from Electrum to Coinbase is still unconfirmed. It shows the transaction is pending in my coinbase so I didn't send it to the wrong wallet.

Should I be worried or just be patient?

Chances are you didn't put a high enough transaction fee on your transaction from your Electrum wallet to your Coinbase account. Coinbase does all of that automatically, but I don't think Electrum has anything more than a default setting. Chances are that's why you haven't had your transaction be confirmed yet.

My recommendation is to check what the transaction fee settings are on your Electrum wallet and get back to us with what the default value is. That way we can help you determine whether that's the reason for your lengthy confirmation time or not. I'm thinking it is, but I won't be able to tell you for sure until you post the result.

Assuming that the fee is the issue, you should be able to change the default value and prevent this from happening in the future. Alternatively, set a new fee charge every time you send Bitcoin. This prevents overpaying when the average transaction fee is low.

So pretty much when I posted this thread the transaction got confirmed and it has gone through. It just took longer than you all for the information.

The fee amount I was using was .11267 which was pretty much the same as my previous transactions.

I guess that fee is 1.1%?

[BitMaxz]

How many confirmations your transaction have?

If it confirms more than 5 confirmed it should confirm in your Coinbase wallet.

I have past experienced on Coinbase where I transfer some of my bitcoins from Electrum to Coinbase the unconfirmed transaction from coinbase is stuck even my transaction confirm more than 10 confirmation from explorer.

What I did is to report it directly to Coinbase support and they said that it's a bug on their dashboard and they refresh my account and after that stuck transaction is gone.

So I suggest you report this on Coinbase support to refresh your account. Here's their support page https://support.coinbase.com/

[o_e_l_e_o]

The fee amount I was using was .11267 which was pretty much the same as my previous transactions.

I guess that fee is 1.1%?

The absolute amount you pay as a fee needs to vary with both the virtual size of your transaction (which is based on how many inputs and output it has, not on its monetary value), and how congested the mempool is at the time of sending. Your absolute fee divided by your transaction size in virtual bytes (which Electrum will work out automatically and display for you) will tell you your "fee per vB", which determines how fast your transaction will be confirmed. If you put your transaction in to a block explorer like blockstream.info, the transaction fee field tells you what you paid in sat/vB, which is what determines how fast your transaction will confirm.

If you look at either https://jochen-hoenicke.de/queue/#1,8h or https://coinb.in/#fees, you can see the ball park figure of what fee you need to pay for a relatively speedy confirmation.

[Yakamoto]

The fee amount I was using was .11267 which was pretty much the same as my previous transactions.

I guess that fee is 1.1%?

The absolute amount you pay as a fee needs to vary with both the virtual size of your transaction (which is based on how many inputs and output it has, not on its monetary value), and how congested the mempool is at the time of sending. Your absolute fee divided by your transaction size in virtual bytes (which Electrum will work out automatically and display for you) will tell you your "fee per vB", which determines how fast your transaction will be confirmed. If you put your transaction in to a block explorer like blockstream.info, the transaction fee field tells you what you paid in sat/vB, which is what determines how fast your transaction will confirm.

If you look at either https://jochen-hoenicke.de/queue/#1,8h or https://coinb.in/#fees, you can see the ball park figure of what fee you need to pay for a relatively speedy confirmation.

On top of this, as other users had mentioned, the mempool got hit with a bunch of transactions around the same time as OP sent his transaction, so it got pushed back a bit. Either way, since the transaction has gone through, it's not a major concern anymore. Using the resources posted in this chat will allow for this to not happen again, but again it wasn't like the transaction was stuck for days. Merely a few extra hours than normal.

I personally like blockchain.info's recommended transaction fee system, but I don't think that Electrum has that same system. I haven't ever had an issue with blockchain.info anecdotally, but that's not something everyone will use because it's an online wallet.

[o_e_l_e_o]

I personally like blockchain.info's recommended transaction fee system, but I don't think that Electrum has that same system.

Electrum has a variety of suggested fee systems you can use.

The default is ETA, and the slider gives automatically suggested fees for approximately inclusion within 25 blocks, 10 blocks, 5 blocks, 2 blocks, or the next block.
You can change to mempool, and the slider will then give distance from the tip of the mempool in MB - 10, 5, 2, 1, 0.5, 0.2, 0.1.
There is also the option for a static slider, which gives you fees in sat/byte - 1, 2, 5, 10, 20, 30, 50, 70, 100, 150, 200, 300.

With all of these, there is also the option to enable an input box to allow you to enter your own manual fee. This remains the best option, as manually checking the current status of the mempool will always be more accurate than any wallet's automatic suggestions, provided you know what you are looking for.

[Slowbalt]

Thanks everyone for the quick reply's.

Yeah it went through after around 7 hours total. It just took longer for it to kick from Unconfirmed to 1 confirmation etc.

I guess I shouldn't have been too worried as the transaction showed up in my coinbase as pending immediately.

[kerneal]

One problem I find with ETH is how much the community relies on Vitalik and Vlad. Also an argument against investing in Ethereum might be that it’s better to have your money somewhere else temporarily, and then move it back to Ethereum. I personally invested in CS and XRM. And also make a better profit with young projects as stellar or credits. There really aren’t a lot of issues with the project itself. Scaling is said to be the biggest issue, but it is currently handling far more transactions per day than any other network. There are a lot of updates coming, hopefully in 2018, that fix this issue. Overall, I’m extremely excited for Ethereum and everyone apart of the community.

[Reid]

It is there but just unconfirmed and it means you input the right address.
This may be from the 2 weeks ago but I just want to share my own experience.

Send it from one wallet to another also and I forgot about the input for transaction fees. So the default price was used.
3 days before I received my funds.

This market which is up and down could really hurt the time span of our transactions and it is like miners are having a hard time since users are going in and out or maybe too much withdrawals because of the large increase.
We should be more patient.