Doubt regarding the wallet fees. | Bitcointalksearch.org

jackg

copper member

Activity: 2856

Merit: 3071

https://bit.ly/387FXHi lightning theory

Quote from: Fire Rabbit on October 31, 2017, 03:23:50 AM

I have 0.216 btc in my electrum wallet and I need to transfer that to another online wallet for exchanging purpose. But when I tried to send btc from electrum to the other wallet, its asking a fees of 0.031 btc. Its really a hugh amount. Is that normal or do I need to do some settings in the wallet ? Can anybody help me regarding this matter?

Any chance you can sent me your public key (xpub) or the addresses these amounts are in. (If you don't want to share this here, send me a PM).

I can make a transaction in a file that you can import into your electrum.

You could try and actually send the dust to somewhere and see if they try to do anything to pull if through.

Abdussamad

legendary

Activity: 3682

Merit: 1580

Another option is to keep your eye on these sites:

https://tradeblock.com/bitcoin/

https://btc.com/stats/unconfirmed-tx

You can time your transaction for when there is less congestion in the mempool. Fees fall during that time period. Usually this happens on weekends. So during that time you can manually set a low fee and spend your bitcoins.

Before you manually set a low fee please make sure you enable replace by fee. So follow the first two steps here:

https://bitcointalksearch.org/topic/m.19015496

and in addition to the above make sure you check edit fees manually on the fees tab in preferences. This will allow you to both see the dynamic fee options or alternatively enter your own fee manually based on what you see on btc.com.

TryNinja

legendary

Activity: 2758

Merit: 6830

Looks like you received a lot of dust payments in your wallet. There is really nothing you can do other than try to send all your balance back to you with a super low fee that should take a couple days to confirm. This will consolidate all your inputs into 1 output, making your future transactions A LOT cheaper, since the transaction dize will be lower.

Lucius

legendary

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Merit: 5637

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Quote from: Fire Rabbit on October 31, 2017, 03:23:50 AM

I have 0.216 btc in my electrum wallet and I need to transfer that to another online wallet for exchanging purpose. But when I tried to send btc from electrum to the other wallet, its asking a fees of 0.031 btc. Its really a hugh amount. Is that normal or do I need to do some settings in the wallet ? Can anybody help me regarding this matter?

This fee is to much and you should not pay almost 200$ to transfer that BTC even if it is about many low inputs.I have a similar situation and I send much bigger amount of BTC for just 0.4 $ fee.Just use manual fee and set it to 100 000 satoshi max or even lower,then you can use ViaBTC accelerator and speed up your transaction.I think it's the simplest thing to do and save a lot of money.

Abdussamad

legendary

Activity: 3682

Merit: 1580

If the amount is made up of lots of very small inputs like from faucets then the resulting transaction will be very large and that's why you have such a large fee. In bitcoin the size of the transaction in bytes is what matters not the amount being transferred. Lots of inputs make for a large transaction.

Fire Rabbit

legendary

Activity: 1267

Merit: 1000

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I have 0.216 btc in my electrum wallet and I need to transfer that to another online wallet for exchanging purpose. But when I tried to send btc from electrum to the other wallet, its asking a fees of 0.031 btc. Its really a hugh amount. Is that normal or do I need to do some settings in the wallet ? Can anybody help me regarding this matter?

Topic: Doubt regarding the wallet fees. (Read 276 times)