Help with electrum

[radiussd]

I purchased 100GBP of bitcoin and it turns up as 0.0106087 BTC

My wallet shows 10.6087 instead of 0.0106087
If I was paying 0.009BTC would I enter it as 0.009 or 9.0?

My receiver is asking to receive 0.009BTC

However my wallet which is electrum shows the funds up as
10.6087

What numbers do I enter to send?
Will I just type in 0.009 and send it as that?

I am confused because one is 0.0106087, one is 0.009BTC
But the wallet turns up as 10.6087 and im not sure if I should do
9.0 or 0.009 wont they be different.

[1714101002]

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[bL4nkcode]

Probably you're seeing different base unit in electrum which is mBTC, as for you know 10.608 mBTC is 0.010608 BTC. Enable you to understand on how much you will send in BTC, you have to change your base unit from mbTC to BTC.
Go to Tools -> Preferences -> General, under base unit choose BTC instead of mBTC.

[tbct_mt2]

OP can get more details on differences between units, here: https://www.btcsatoshi.com/

Predefined Values:
Click the Satoshi value below to use that value above.
1 Satoshi    = 0.00000001 ฿    
10 Satoshi    = 0.00000010 ฿    
100 Satoshi    = 0.00000100 ฿    = 1 Bit / μBTC (you-bit)
1,000 Satoshi    = 0.00001000 ฿    
10,000 Satoshi    = 0.00010000 ฿    
100,000 Satoshi    = 0.00100000 ฿    = 1 mBTC (em-bit)
1,000,000 Satoshi    = 0.01000000 ฿    = 1 cBTC (bitcent)
10,000,000 Satoshi    = 0.10000000 ฿    
100,000,000 Satoshi    = 1.00000000 ฿    

For more convenience, you can visit that site, and use its tool to convert satoshi units to bitcoin.
https://www.cryps.info/en/Satoshi_to_BTC/
However, I think modify wallet option to display balance in bitcoin is the most convenient.

[radiussd]

Thanks for the help its looking much clearer now.

Does electrum have a transaction fee that I have to include?

Is the fee 0.2?

Does that mean if I needed to send 0.009 -

I would have to send 0.0092 to cover the fee?

[Little Mouse]

Thanks for the help its looking much clearer now.

Does electrum have a transaction fee that I have to include?

Is the fee 0.2?

Does that mean if I needed to send 0.009 -

I would have to send 0.0092 to cover the fee?

It depends on you. You can choose 1 sat per byte and more as well. If you want a faster transaction, you can use more fee. Check this site to get an idea- https://bitcoinfees.info
Right now, 2 satoshi per byte will give you a faster confirmation, within next 2-3 hours, you will get confirmed.

[o_e_l_e_o]

Does electrum have a transaction fee that I have to include?

All bitcoin transactions require a fee to process them. In Electrum, on the "Send" tab, there is a slider next to the word fee. For full control over the fee, you should click on "Tools", "Preferences", and tick the box "Edit fees manually".

Is the fee 0.2?

The fee is whatever you want it to be. The fee is calculated in sat/byte. Sat stands for satoshi, which is 0.00000001 BTC, or one hundred millionth of a bitcoin. Byte is the size of your transaction in bytes. This is based on the number and type of inputs and outputs in your transaction, and has nothing to do with monetary value of your transaction.

The fee is dynamic, and what constitutes an appropriate fee changes as the network is more or less busy. An easy way to see a recommended fee is to use the following site: https://www.coinb.in/#fees. You can ignore all the complicated sliders if you like and just read the text at the bottom of the blue box, which currently states "1 Sat/Byte".

I would have to send 0.0092 to cover the fee?

No. In the "Amount" box on Electrum, you should only enter the amount you want to receiver to receive. Do not include the fee in this box. If you want to send someone 0.009 BTC, then you should enter 0.009. The fee is calculated and automatically added on by whatever you enter in the "Fee" box, which at present, should be "1".

[hd49728]

About bitcoin transaction fees, you can read more here:
Bitcoin Transaction Fees - Everything in one
You have to change option in your wallet with these steps:
Tools > Preferences > Fees > Edit fees manually (you have to tick to this option).
Images below show those steps. After that, you can edit fees when you make your transactions.
I always consolidate my bitcoin at 1 satoshi/ byte. It takes time, but it help me to save precious satoshis.

In addition, applying guides of LoyceV to move your coins when network provides you great chance to move funds around with low fees.
[MAY 2019] Fees are low, use this opportunity to Consolidate your small inputs!
I added some images to visually describe how to enable manually editing fees feature and how to manually set fees:

[radiussd]

Thanks alot for the help!

I changed it to 1 sat/byte.


Do I leave the box right of x 226 = empty?

https://photos.google.com/search/_tra_/photo/AF1QipOqJ2qlfZThp-4hL4tzSjF70f6GtL9ZTmxN1ne5

[TryNinja]

Do I leave the box right of x 226 = empty?

That's the total fee. It should change automatically to the fee that is going to be used when you change the first box (sat/byte).
Example: 1 sat/byte X 226 (bytes) = 0.00000226 BTC (226 satoshis).

https://photos.google.com/search/_tra_/photo/AF1QipOqJ2qlfZThp-4hL4tzSjF70f6GtL9ZTmxN1ne5

Pic is missing. Upload it to an online image host like Imgur.

[hd49728]

Pic is missing. Upload it to an online image host like Imgur.

OP should know one more thing, with Imgur (if he/she uses it to upload images).
After uploading image, click on ... icon that the top right corner of uploaded image > Get share links > BBCode (Forums) - Choosing this one.

[radiussd]

Here is the image

So the box circled on the right is left empty until the transaction and it should just take one sat/byte.

The insert image is not working for me. I tried Imgur.
All it is doing is posting the link.

https://imgur.com/a/7sIOOmI

I appreciate your help.

Imgur still isnt working.
https://i.imgur.com/lbpWjVg.jpg

[hd49728]

Only the second image is displayed (if I look at it in your post history). Did you choose right link - BBcode (for forums) as I suggested, for your first image?
Basically, you are not able to post and display image as Newbie. You need to be a Junior Member, at least to display images. Or you have to buy a Copper Membership.

[ ... ]

I edited my thread with this part, which will help you to get out of mess.

Choosing the address you want to send your bitcoin from that, for example, I have an address that have 0.00125 BTC in total; I click on Max button (only do this if you have small amount of bitcoin in that address); then type fee (at 1 satoshi/ byte); I can see total available bitcoin to send after subtracting fees is at 0.0012489 BTC

Now, what if with the same address, same amount of bitcoin, how many bitcoin will be availble to send if I set fee at 100 satoshis/ byte. Only 0.00114 BTC will be left to send. Please look at it:

[TryNinja]

Here is the image

So the box circled on the right is left empty until the transaction and it should just take one sat/byte.

The insert image is not working for me. I tried Imgur.
All it is doing is posting the link.

https://imgur.com/a/7sIOOmI

I appreciate your help.

Imgur still isnt working.
https://talkimg.com/images/2023/05/14/blob5396d79c569b8256.jpeg

That's because this will only appear when you put the amount and address you want to send the coins to (when you are actually making a transaction). Otherwise, Electrum doesn't know the size of your transaction so it can't calculate the final fee ( 1 say/byte X ?? bytes = ??).
Only putting 1 sat/byte in the left box while leaving every other field empty isn't going to do anything.

Your images don't show up because you are still a Newbie.

[o_e_l_e_o]

-snip-

That all looks fine to me. Once you complete the rest of the transaction i.e. the "Pay to" box with the receiver's address and the "Amount" box with the amount you wish to send, Electrum will fill in the bottom right box with the final fee. It needs to know who you are sending to and how much you are sending first to accurately calculate the transaction size in bytes.

When you do get round to making the transaction, make sure to check the appropriate fee again, as it could have changed in the meantime. Unless, of course, you don't mind being patient and waiting a while for your transaction to complete, in which case leave the fee at 1 sat/byte to save yourself some money.

[radiussd]

Ok many thanks
Much appreciated

[Abdussamad]

1 sat/byte might result in your transaction getting stuck during high demand times. so you should rely on the slider instead. the further to the left the lower the fee and the slower the confirmation times.

[o_e_l_e_o]

the further to the left the lower the fee and the slower the confirmation times.

It's not entirely accurate to say "the lower the fee the slower the confirmation time". This does generally hold true during periods when the mempool is more full, and there are several megabytes worth of transactions with low fees which are being overlooked by miners in favor of transaction with higher fees. In these case, then sure, the lower the fee you set, the longer it will take for your transaction to confirm.

However, in times when the mempool is pretty much empty (as has largely been the case for the past several weeks) then 1 sat/byte transactions are frequently making it in to the next block. In these cases, setting a higher fee won't get you confirmed any faster, and setting a lower fee won't take any longer. Block #588717 earlier today contained a transaction with a fee of 1000 sat/vByte, as well as several with a fee of 1 sat/vByte. The person who paid 1000 sat/vByte massively overpaid for literally zero increase in speed of confirmation.

[tbct_mt2]

1 sat/byte might result in your transaction getting stuck during high demand times. so you should rely on the slider instead. the further to the left the lower the fee and the slower the confirmation times.

There are some perfect time periods to move coins each day with low transaction fees. At fees at 1 satoshi per byte, you can move it well if mempool is empty (like o_e_l_e_o mentioned). If you do your transactions when fees stay at highs, and you set your fees at 1 satoshi per byte, you will have to wait hours or days to get confirmations, that depends on mempool's emptiness. Your transactions in those cases will be stayed in queued (with priorities for higher-fee transtions, descending to 1-sat-fee transactions, include yours). If you don't want to have nearly instant transaction, just set fee at 1 satoshi and wait.

[pooya87]

1 sat/byte might result in your transaction getting stuck during high demand times. so you should rely on the slider instead. the further to the left the lower the fee and the slower the confirmation times.

There are some perfect time periods to move coins each day with low transaction fees. At fees at 1 satoshi per byte, you can move it well if mempool is empty (like o_e_l_e_o mentioned). If you do your transactions when fees stay at highs, and you set your fees at 1 satoshi per byte, you will have to wait hours or days to get confirmations, that depends on mempool's emptiness. Your transactions in those cases will be stayed in queued (with priorities for higher-fee transtions, descending to 1-sat-fee transactions, include yours). If you don't want to have nearly instant transaction, just set fee at 1 satoshi and wait.

you should note that "empty" in this context is not a clear term to use since mempool of bitcoin can never be actually empty. it is a term used when people mean "mempool has lower number of transactions". but then one might ask how many is considered "empty"? 1? 1000? 2000?
the answer is in the sum of transaction sizes (weights to be accurate). if that sum is smaller or equal to block weight then you can say paying the minimum is high priority.

[Pmalek]

There are some perfect time periods to move coins each day with low transaction fees.

I think it was Loyce who said in a post somewhere that the best time is in the morning hours and especially during weekends when there are less business and institutional transactions.