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

[1715419662]

1715419662

[1715419662]

1715419662

[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.

[Csmiami]

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 installed and tried to create a transaction of 10USD, being my balance 0 and I didn't see any red arrow pointing upwards. When entering the amount I want to send, I just see "amounts exceeds your balance". Can you provide some screenshot of what you are seeing when creating the transaction?

[kwasik]

I dont see any attachment option for inserting a screenshot

[Chikito]

I dont see any attachment option for inserting a screenshot

Take screenshoot and upload your image https://postimages.org/ then put image link here

[kwasik]

https://postimg.cc/qN4hbCrw

[Chikito]

https://postimg.cc/qN4hbCrw

Are you sure put in correct bitcoin address? or you want sending to native address where unavailable on your aplication

may I know what wallet/exchange you want to send it?. because I read Bitzika 0% fee for bitcoin withdrawing.

If you don't have that extra $0 as part of your balance, your withdrawal will fail.

maybe you should add some $ to your bitzika wallet.

[kwasik]

Yes the address was correct. I initially had $110.00 in my wallet  I initially transferred $50 to another address and it worked successfully. Then I tried another $50 transfer to another address and the red arrow showed up like you saw in the screenshot that I uploaded. I have no problem transferring cash. But when I do bitcoin transfers I run into problems.

[Pmalek]

Some users mention high fees when transferring Bitcoin out of the app or the inability to transfer their Bitcoin.
https://play.google.com/store/apps/details?id=africa.bitsika.bitsika_mobile&hl=en&showAllReviews=true

Can you try with another address, maybe a legacy address? There might be some weird limitations that prevent you from withdrawing more than once in a 24 hour period. The official website offers very little info.

This is their Telegram group > https://t.me/joinchat/HpZSlBezu_dt46yGTpj6uQ
You can try reaching out to one of the admins and explain your issues if you can't resolve it yourself.

[kwasik]

I contacted their admin running their telegram channel. She was very vague with her response. She rather blamed my wallet. She rather suggested that I transfer my funds to her wallet so she can convert it for me.

Like I said there are serious issues with their crypto component. I have attempted numerous times to make just one transfer. And each time I was told 'Transfer Failed."

[khaled0111]

How much fees does the app charges for bitcoin transactions? Does it charge flat fee or let you set it manually?
I believe you are getting the "insufficient balalnce" error message because you are trying to send your full balance without taking in consideration the fees you have to pay.

Try sending a smaller amount and see if it works.

[kwasik]

I have $361 in my wallet. I try to transfer $300 and I'm still told transfer failed. I don't get it.

[khaled0111]

You are right. According to their ToS, they charge 0 fees on Bitcoin transactions.

I downloaded the App to see what the problem might be and it seems they have a liquidity problem (not 100% sure though).
If you click the "Deposit" button, you will see this note:

Available Bitcoin: 29.15$/0.0030661 BTC

OK just now, it changed to 0.0017 BTC which makes me more convinced it's a liquidity issue.
Try withdrawing a smaller amount... something like 10$ but make sure to refresh the App and see how much bitcoin is left.

[CryptoYar]

Hello people. First of all I'd like to thank the admin for adding me to this group.

My friend, this is not group, this is a forum where people discuss crypto.

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.

I think this issue is happening due to fees. Have you tried to do an amount transfer less than this ($100)?
Nowadays this issue is happening due to high miner fees.

[masulum]

I have $361 in my wallet. I try to transfer $300 and I'm still told transfer failed. I don't get it.

Are you sure your account not limited? Because if I read on their T&C, I see limit account and transfer review.

10. Transferring Funds out of Bit Sika

i. Options
You may transfer funds to any Mobile Money Account(s) or Banks Account(s) using the standard transfer option. We don’t offer the ability to access funds via ATM or at retail locations.


ii. Transfer Limits
We reserve the right to limit the amount you can transfer out of Bit Sika at a given time.


iii. Transaction Reviews
We review account and transaction activity at various times, including when you initiate a transfer of funds out of Bit Sika. This review checks for, among other things, suspicious or illegal activity, and whether your account activity and the activity of users with whom you’ve transacted comply with this Agreement. Reviews may result in:

a. delayed, blocked or cancelled transfers;
b. funds being held by Bit Sika;
c.  account suspension or termination;
d.  funds being seized to comply with a court order, warrant or other legal process; and/or
e. funds you previously received being reversed (i.e., sent back to the sender’s Bit Sika balance.

In connection with our review process, you may be required to provide us with additional information and/or documentation to verify your identity. We may limit your account and your access to funds in it until verification is completed.

Source: https://bitsika.africa/terms

I think, to make it clear, you can email them to hi@bitsika.africa maybe you can get more information for your issue.

[joniboini]

I contacted their admin running their telegram channel. She was very vague with her response. She rather blamed my wallet. She rather suggested that I transfer my funds to her wallet so she can convert it for me.

Wow, why do I smell a scam from this one? You sure it was the right admin and not some impostor? What a weird solution.

If you can withdraw your money from there, please do move on and use a non-custodial wallet next time. Spending some time to learn about seed and stuff is worth your time so you don't get 'scammed' by companies like this.

[kwasik]

Guys I now have $361in my wallet. I tried making a transfer of $300 and I still got 'Transfer Failed.' I agree with khaled's suggestion that the owners are having liquidity issues. He even proved it himself
I guess its time to find another app. For those wanting to know the name of the app I'm currently using it's called Bitsika