The ETA option lets you target how many blocks you want your transaction to be confirmed in. Options are within 25 blocks, within 10 blocks, within 5, within 2, and within the next block. The average time between blocks is 10 minutes.
The mempool option lets you target how far from the tip of the mempool you want your transaction to be placed. Options are within 10 MB, 5 MB, 2 MB, 1 MB, 0.5 MB, 0.2 MB, and 0.1 MB. A full block will take roughly 1 MB worth of transactions.
The static option lets you set a flat rate. You can either use the slider or enter your own rate.
Bear in mind that both the ETA and mempool options are best estimates only. Block time can vary hugely between a few seconds and over an hour - it is simply an average of 10 minutes. The mempool can rapidly fill up after you have placed your transaction, and so push it lower in terms of priority.
If you want to pay $10 in fee as you say, then simply click on "Advanced Preview" and enter a total fee of 0.00074 BTC (which is currently $10). The fee rate will adjust automatically.
Topic: Help me with the different sending fees option with electrum (Read 124 times)
Can you define "standard fees" ?
The total fee paid is influenced by the size of the transaction.
The size of a transaction is influenced by the amount of inputs and outputs.
Depending on how fast you want your transaction to be confirmed, you need to choose a higher fee rate.
If you can wait, you can freely choose 1 sat/vB as your fee rate.
I can't imagine this would result in a fee being as high as 30$.
The mempool is quite clogged right now as you can see here. For a confirmation within the next few blocks, a fee rate of more than 100 sat/vB would be necessary.
If you can wait a few days (e.g. until sunday night), a fee rate below 10 sat/vB is most often enough to get your transaction confirmed.
The total fee paid is influenced by the size of the transaction.
The size of a transaction is influenced by the amount of inputs and outputs.
Depending on how fast you want your transaction to be confirmed, you need to choose a higher fee rate.
If you can wait, you can freely choose 1 sat/vB as your fee rate.
I can't imagine this would result in a fee being as high as 30$.
The mempool is quite clogged right now as you can see here. For a confirmation within the next few blocks, a fee rate of more than 100 sat/vB would be necessary.
If you can wait a few days (e.g. until sunday night), a fee rate below 10 sat/vB is most often enough to get your transaction confirmed.
Can someone explain what I can choose to be save? I'm ready to pay up to 10$ as fee.
Maybe you're using ETA, which I believe is "remaining time", during times like this, it will suggest a very high fee.You can choose "Mempool", it usually suggests a cheaper fee than the above, set it to "1mb from tip" for a fair transaction speed.
But it will still depend on other factors like how fast blocks are being mined and the number of transaction added to the network.
Static is just a slider with fixed amount of fee rate, it's not based on anything.
Good for setting your desired fee if you do not want to open the advanced preview.
In Electrum Preferences, you can tick "Edit fees manually". After this, you can set a much lower fee, but it may take a while to confirm.
Take note that it was removed in v4.0+ and it's integrated in the "advanced preview" which can be accessed by clicking "advance" in the send window.He can also set to automatically use advance preview after clicking send in the settings: "Tools->Preferences->'Transactions' tab->Advanced Preview".
Can someone explain what I can choose to be save? I'm ready to pay up to 10$ as fee.
First: forget about USD, you're paying in Bitcoin.I guess you have many small inputs. If you enable the Coins tab, you may find a larger input. You can select more than one by holding CTRL, then use your right mouse button to Spend these amounts. The less inputs you select, the lower your fees are going to be.
You can prepare for this by Consolidating small inputs when fees are low. Unfortunately, fees are currently quite high, so if you're in a hurry, this isn't going to help you.
In Electrum Preferences, you can tick "Edit fees manually". After this, you can set a much lower fee, but it may take a while to confirm. Depending on what you're trying to pay for that may or may not be a good idea.
I'm not familiar with the other fee options you mentioned, but I don't think that matters anyway. Fee per byte is what miners use to determine which transactions are most profitable to mine.
So I need to send 250$ in BTC and I saw the standard fees would be 31$ lol
I know I can reduce the fees and it will take much longer, but there are also more options with different fees I dont understand/never used.
There are:
"Remaining time"
"Static"
"Mempool"
Can someone explain what I can choose to be save? I'm ready to pay up to 10$ as fee.
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