Electrum wrong fee estimation, can cost you a lot

[Little Mouse]

I was about to send 0.01 BTC with a fee of 1500sat per byte as you can see in the image. At first, I thought it was because of me trying send faster and give mempool limit of 0.10 mb, but when I tried to lower it, it still shows the same. Lucky that I didn’t send mistakenly, otherwise it would cost me huge fee as the tx would be consisted if 4 inputs at least.

Can someone tell me whether I can set the fee manually? In desktop wallet, the fee can be written manually.

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[bL4nkcode]

Can someone tell me whether I can set the fee manually? In desktop wallet, the fee can be written manually.

Yes there is, after you click the "pay" button click the "advanced" button on the "confirm transaction" window, there is a "target fee" in lower part of the "create transaction" window and you can input the fee manually whether by sat/byte or btc see the screenshot below.

[Little Mouse]

Yes there is, after you click the "pay" button click the "advanced" button on the "confirm transaction" window, there is a "target fee" in lower part of the "create transaction" window and you can input the fee manually whether by sat/byte or btc see the screenshot below.

Isn’t it a window in desktop wallet? If so, I have mentioned already about this but in mobile wallet, I can't see any option like this. May be I'm missing anything. I can't see any advance option after I click pay in mobile version.

[bL4nkcode]

Isn’t it a window in desktop wallet? If so, I have mentioned already about this but in mobile wallet, I can't see any option like this. May be I'm missing anything. I can't see any advance option after I click pay in mobile version.

Ah sorry, I read it wrong, and unfortunately, yes, there's no manual fee input on electrum mobile version just their slider.

[AB de Royse777]

Isn’t it a window in desktop wallet? If so, I have mentioned already about this but in mobile wallet, I can't see any option like this. May be I'm missing anything. I can't see any advance option after I click pay in mobile version.

Ah sorry, I read it wrong, and unfortunately, yes, there's no manual fee input on electrum mobile version just their slider.

A Long time ago I had to use a mobile version for a few days and I could not find any option to enter fees manually. Surprise to see that it's still an issue. Maybe Electrum can consider adding the feature in mobile wallet too.

Other day I was about to send a tx and fees were showing around 123 sat/B where for the next block I needed only 5 sat/B LOL

[mk4]

I suggest using a different wallet instead; probably something like Mycelium, but I personally prefer BlueWallet. I personally use their desktop wallet from time to time, but I really don't remember their Android app being any decent.

[Peanutswar]

I think there is some bug with this because base on my experience I just set the lever into 50-100 sat per byte better you update or restart the application. In terms you would like to adjust the transaction fee manually there is no feature like that on the electrum app. You just need to use the slider no other than that.

[slaman29]

Hmm I always thought Electrum was a pretty good wallet to use, even with the fee estimation but I guess the mobile version (which I've never tried) is a lot less sophisticated than the desktop one. Still seems like a heck lot of satoshi for the lowest setting though. Does that mean you're stuck with paying crazy fees on mobile?

[Finestream]

Here's how it looks in my wallet.



I can see how much I'm gonna pay for every transaction, so I never make mistakes when sending  money.

I'm not sure what version you are using, but mine shows the right fee according to the adjustment I'm making.

[stompix]

Can someone tell me whether I can set the fee manually?

Tap on  "Method", it will change to "Static" and then you can select 1sat/b or bigger in increments, 1,2,5 10 and ....I'm not sure what's next 20 or 25, that's the maximum of customization for fees you can get with the mobile version.

[JeromeTash]

Tap on  "Method", it will change to "Static" and then you can select 1sat/b or bigger in increments, 1,2,5 10 and ....I'm not sure what's next 20 or 25, that's the maximum of customization for fees you can get with the mobile version.

...20,30,50,70,100,150,200,300

I think the Mempool methods is a little more dynamic as it changes basing on the size of the transactions in the mempool, and it also shows the possible position of each displayed fee rate of the transaction from the mempool tip.

-snip-

OP was talking about the mobile phone version of electrum. Not desktop.

[khaled0111]

1500sat/b to be positioned 10Mb from tip!!
This can't be just a wrong fee estimation. It's either a bug or there is something wrong with the server your wallet is connected to.
Restart Electrum or switch to another server manually and see if this solves the problem.

[nc50lc]

You can use either of the two "merited by me" posts.

Use static slider and any 'mempool monitoring tool' like jochen-hoenicke's to manually set a good fee rate;
or manually change the server in 'Menu->Network->Server->Pick from peers' and click "Auto-connect" to switch it off.
Make sure that Electrum is properly shutdown when you're closing it or the setting may reverse back to it's previous state
(To close normally: do not swipe out, use double back and wait for it to close by itself).

I personally haven't encountered that issue maybe because I've picked a server on my phone instead of auto-connect.

[Finestream]

-snip-

OP was talking about the mobile phone version of electrum. Not desktop.

Sorry, I did not read he was referring about his mobile wallet, and I'm not familiar with mobile wallet since I'm pro deskstop myself.