Help transferring funds

[kwasik]

Hello people. First of all I'd like to thank the admin for adding me to this group. I need  help with a problem while trying to transfer funds from my bitcoin wallet to another wallet.

I tried transferring $100 to to another wallet using the rate 1 USD TO 0.000112 bitcoin I tried doing the transfer and much to my horror a red arrow pointing upwards(meaning insufficient funds) showed up on my screen. I have $100 sitting in my account.

Can someone help explain the arithmetic behind all this?Because I'm totally confused.

Thanx in advance

[jackg]

I'm nor sure what you mean with the 1 usd to 0.00012 btc, are you using that as a rate? Transactions aren't charged as a % of what you transfer but on the size of a transaction.

The insufficient funds warning is normally because you haven't adjusted for the fee when sending the transaction.

[Csmiami]

Can you tell us what wallet you are using? The more information we have, the more (and faster) chances are we can help you

[Upgrade00]

I tried transferring $100 to to another wallet using the rate 1 USD TO 0.000112 bitcoin

Is this the current price of Bitcoin at the time you made the transfer? Using the value on CMC, 0.000112BTC gives roughly 1 USD.

You should give more details of the transaction. Note that only unspent outputs can be spent in a transaction, and if you use all of it i.e smcreate a transaction with your maximum balance, there would be nothing left for the transaction fee which is added to the entire transaction. This could be why you get an insufficient fund message.
Try adjusting the transaction to include the fees.

[kwasik]

That was the current price at the time I did the transfer. And the wallet is a bitcoin wallet.

[Csmiami]

And the wallet is a bitcoin wallet.

Yeah, sure; but what specific wallet software are you using? Bitcoin Core? Electrum? Blockchain? Mycelyum?...?

[Botnake]

I believe the 0.000112  your are talking is the mining fee you put for the transfer.

First can you tell us what wallet  you are using so we will have a clear picture of what you are trying to mean and so we can help you.
If you are using an exchange or wallet and you select a manual assignment of fee, then maybe you have transacted over your current balance.

having $100 in your account only means you can only send $99 or less because you have a fee of over $1 as per what you've stated.

[kwasik]

I believe the software is Bitcoin Core. And the 0.000112 rate was set by the owners of the app.

[Csmiami]

I believe the software is Bitcoin Core. And the 0.000112 rate was set by the owners of the app.

If you are using Core, you only have to paste the receiving address (double check to prevent clipboard malware modifications), hit the "use all available balance), and tick the "deduce fee from ammount" (box next to the unit).

Then, you can use the default fee, or modify it under the "select" button on the transaction fee field.

It's still unclear what you mean with the 0.000112 rate tough....

[Chikito]

You have to tick subtrack fee from amount, but the recipient will receive less from $100 you sent.



also, you might set the custom fee at the button below

It's still unclear what you mean with the 0.000112 rate tough....

his mean recommended fee

[tbct_mt2]

Moving bitcoin when fees are high always result in some feeling on loses due to higher fees than usual. If you have both Bitcoin and Tether USD in your portfolio, it will be great if you choose to move your money around with Tether USD. You should move your money with USDT on ERC20, not on bitcoin network, that will be slow and expensive too. With ERC20, you can move your money very fast, and has lower fees, especially true in the current period.

[joniboini]

And the 0.000112 rate was set by the owners of the app.

It's the 'code' that sets that as your recommended fee so your tx could confirm in a reasonable time when you publish it actually. There's no 'owner set this thing' if you use non-custodial wallet.

If you have both Bitcoin and Tether USD in your portfolio, it will be great if you choose to move your money around with Tether USD.

Pretty sure the case is clearly about moving Bitcoin though.

[kwasik]

To be honest I'm not sure  which software. I think they created their own software.Its a cash app. You can transfer funds using cash bitcoin, bfinance, etc. Unfortunately they don't have tether in their portfolio.

[joniboini]

To be honest I'm not sure  which software. I think they created their own software.Its a cash app. You can transfer funds using cash bitcoin, bfinance, etc. Unfortunately they don't have tether in their portfolio.

So you're not using Bitcoin Core as mentioned above? Are you sure they don't even put the name on the window or the about button somewhere? Maybe share some screenshot about that app?

Can you export the seed/pkey with that wallet? If you can do it maybe use another wallet with better control over your funds.

[kwasik]

I downloaded the app from Playstore using my phone. So when I login all I see is  my account balance. There are options for Payout Deposit and Send Internal. In terms of quick links you have Home Cards and Settings. The rates are fixed.

[bob123]

I downloaded the app from Playstore using my phone.

Then maybe tell us the name of the app ?

This all depends on which kind of wallet you are using.
And if you don't see any name when opening the app, just give us the name of the application (preferably with a link to the play store).

[Csmiami]

I downloaded the app from Playstore using my phone.

Then you are most definately not using Bitcoin Core....

Can you send a link of tha app in the play store? Share the name of the app? Even a screenshot? It's kind of important to know what wallet you are using to know how to move the funds

[kwasik]

The name of the app is Bitsika. I don't see any option for attachment to send the screenshot.

[Csmiami]

This Bitsika? Haven't installed it, but for the looks of it (and the description), it doesn't seem to support crypto... Will do some experimenting after lunch

[kwasik]

Yep. That's the one. But I was able to transfer bitcoin in small amounts. But when I tried to transfer $100 that's when I run into problems. I even added extra money. But it didnt seem to  make any difference.