Being charged 10% when sending

[namuxema]

Hello,

I've been using electrum for years with no issues but recently I sent 4 or 5 transactions and received 10% less of the amount sent on the other end.

I asked the receiver about it and they said the problem comes from the wallet provider.

I tried to change to a smaller fee last time and the amount received on the other end was still exactly 10% less.

There were no major BTC price fluctuations between the time sent and the time received.

What can be happening?

Thanks in advance

[1715294410]

1715294410

[1715294410]

1715294410

[Charles-Tim]

There is nothing wrong about Electrum, only the fee charged are for miners to be able to include your transaction into a block which is the transaction fee. Electrum is a noncustododial wallet and no additional fee charged.

Either the receiver is telling you what it is not. What wallet is the receiver using?

You can experiment it yourself by being the receiver. Try to generate yourself another noncustododial wallet (like another Electrum wallet), send certain amount to the wallet. 100% sure you will see how the problem is not from you (your electrum wallet).

[namuxema]

I'm depositing onto a poker site. I've been doing this for over 2 years and never before got charged, this just started happening recently and I'm not sure why. Live support from the site keeps telling me there's nothing wrong on their end and they credit the full amount they receive from me. Not sure what else to do.

[Charles-Tim]

This just started happening recently and I'm not sure why. Live support from the site keeps telling me there's nothing wrong on their end and they credit the full amount they receive from me. Not sure what else to do.

1. Which gambling site is that?
2. Can you share us your txid (transaction hash or transaction ID). This can be privacy depriving but your wallet safety is still intact.
3. How much did you pay?
4. How much was credited into your account on the gambling site?

[nc50lc]

I tried to change to a smaller fee last time and the amount received on the other end was still exactly 10% less.

This shouldn't be an issue since Electrum will not deduct the fee from the output's amount, except if you've replaced it via rbf ("increase fee" option) and selected the option to do so.

I'm depositing onto a poker site. I've been doing this for over 2 years and never before got charged, this just started happening recently and I'm not sure why. Live support from the site keeps telling me there's nothing wrong on their end and they credit the full amount they receive from me. Not sure what else to do.

In that case, check the transactions in your Electrum's history tab (Right-click->View Transaction).
And see if the output (your poker site deposit address) has the same amount as what they've credited you.

If not the same, then they are either lying about the amount being deposited or there's an issue with their site.
If it's the same, then there's "something" wrong with your Electrum or setting (but definitely not a hack since the funds would've been wiped if so).

[namuxema]

This just started happening recently and I'm not sure why. Live support from the site keeps telling me there's nothing wrong on their end and they credit the full amount they receive from me. Not sure what else to do.

1. Which gambling site is that?
2. Can you share us your txid (transaction hash or transaction ID). This can be privacy depriving but your wallet safety is still intact.
3. How much did you pay?
4. How much was credited into your account on the gambling site?

1- Tigergaming (Chico Network)
2- 085028b6344bb2ba41f9657220ff38fd71481c3689459ab67c7acf6cc91cbb7c
3- The deposit requested was for 1000 USD
4- I received exactly $900.68

If the problem is not on Electrum and the poker site is not lying my guess is that for some weird reason the site is requesting me to send a smaller amount than the one I want to deposit?

[nc50lc]

3- The deposit requested was for 1000 USD
4- I received exactly $900.68

-snip- my guess is that for some weird reason the site is requesting me to send a smaller amount than the one I want to deposit?

It must be it, answers 3 & 4 'speaks for itself'.
If the bitcoin-equivalent amount is computed by their platform, then they are indeed miscalculating the deposit amount (in BTC).

Or have you been using the dollar input box in Electrum's 'send' tab instead of 'BTC' when sending to the casino?
Because every platform is using different APIs to get the market price, the fiat price will not be the same for all platforms.
If so, the selected source in Electrum's 'fiat' setting must have a different market price than the one used by Tigergaming.

[namuxema]

Thanks everyone for your help.

The best explanation so far is that there's some kind of bug on the site that requests less BTC than the amount I want to deposit for some weird reason. I'm happy to know now that I was not cut on the deposit but credited for what I actually sent.

Once again thanks all of you for taking the time to reply.

[Pmalek]

When you send Bitcoin, don't think in fiat or USD terms. If you are sending 0.5 BTC to someone and the destination address gets credited with 0.5 BTC, you have done your part. You have sent 0.5 BTC to the receiver. The receiver can look at that and say that you sent $23.860 worth of BTC (according to preev right now) or they can say that it's only worth $22.000 to them. Potentially also $24.000. If you are sending Bitcoin, that's the only unit that you should think about.

It's very rare, but some platforms can apply a deposit fee for some reason. That could explain a difference in the fiat value. But again, if the same amount of BTC reaches the destination, there is nothing wrong with your wallet.   

[BitMaxz]

The best explanation so far is that there's some kind of bug on the site that requests less BTC than the amount I want to deposit for some weird reason.

How did you know that is a bug?

Have you tried to contact Tigergaming if what platform they use for BTC/USD calculation on withdrawal/depositing?

So that you can use that platform for calculation in the future if you are going to deposit again or withdraw.

Like the above said all platforms like Coingecko, Coinmarketcap, or preev they have different price calculations for Bitcoin.

[Porfirii]

Well, at least we can be assured that the problem wasn't with the electrum wallet, fortunately.

If the bug is in their site and they are accepting a 10% less than what the clients are willing to deposit, they are losing (not earning) money and it should be fixed, but has nothing to do with a malfunction of the payments on your (our) side.

I will take this into account if I ever have such a problem, just in case the service provider is the one who is not charging the appropriate amount instead of being granting me less credit that I deserve.

[Kakmakr]

What did you set the fee rate to? You can set it manually... by going to the “Use Replace-by-fee” under Tools menu > Preferences > Fees tab so that you can low ball the fee initially and bump it later on if you need to. 

I once set the fee rate slider to the maximum, without checking the amount of the fee and I paid $1000+ to transfer 1 bitcoin to another wallet.    (The Bitcoin price was $20 000 at the time, so it hurt a lot)