How do i avoid dust utxo error message. - page 2.

nc50lc

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Quote from: Pi-network314159 on November 16, 2023, 02:03:17 AM

Quote from: nc50lc on November 16, 2023, 01:02:44 AM

-snip-

How do I know the the fee set by my wallet?

If you're using their mobile app, it'll show under "Network fee" after tapping "Next" when sending.

There's a tooltip button (!) there that explains what is it and in that tooltip, there's also a "Learn More" button that explains it further.
The fee rate they set is based from their perspective on what's currently optimal and today is not a good time for low value transactions.

Quote from: Pi-network314159 on November 16, 2023, 02:03:17 AM

I have the $6 in my wallet and haven't made any transaction before in that wallet just a newly created wallet

So in other words, you received that $6 in a single transaction?
If so, that's good since your transaction's size will be low that'll result with lower absolute fee.

Plaguedeath

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Quote from: jrrsparkles on November 16, 2023, 03:37:52 AM

Possibly you can broadcast the TX if the wallet allows fee customization but the transaction will not get confirmed in any way so better wait until the network clears.

In addition if his transaction not confirmed after 2 weeks, his transaction will fail and his coins will back to his wallet without the fee he sent.
From the last 2 weeks, most of the fees are charged around 20-30 sat/vbyte which mean he need to send at least $1, personally I think it's not worth to get $5 for spend $1.

Quote from: Zaguru12 on November 16, 2023, 12:40:05 AM

One of the reason is because Trustwallet doesn’t customize fees

Small correction: Trustwallet has a feature to customize your fees by clicking the top right icon.

jrrsparkles

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Quote from: Pi-network314159 on November 16, 2023, 03:00:29 AM

But what I don't know is whether this high charges on bitcoin in trust wallet is applicable to bitcoin in Binance or other exchanges. Judging from people's explanation here, I think in trust wallet one must have up to $20 sats above before transacting, because it is needless to do a transaction that will incure changes that is higher than the amount you want to transfer.

The withdrawal fee is different from the transaction fee.

If Binance charges $20 or whatever the amount will be a flat fee no matter what is the network congestion. But trust wallet is a wallet so you can choose the fee and currently, you need to spend in fees.

Possibly you can broadcast the TX if the wallet allows fee customization but the transaction will not get confirmed in any way so better wait until the network clears.

BlackBoss_

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Quote from: Pi-network314159 on November 16, 2023, 03:00:29 AM

I think I have stated it already in my topic that it's trust wallet

Sorry I missed it.

Quote

But what I don't know is whether this high charges on bitcoin in trust wallet is applicable to bitcoin in Binance or other exchanges.

I can not get your question, applicable to bitcoin in Binance or other exchanges, what does it mean?

Trust wallet was acquired by Binance years ago, in 2018.

Wallets can use good or bad fee estimators and they can give you good fee suggestion or bad (overpaid) fee suggestion. I am not sure about Trust wallet because I don't use it for my bitcoin.

Quote

Judging from people's explanation here, I think in trust wallet one must have up to $20 sats above before transacting, because it is needless to do a transaction that will incure changes that is higher than the amount you want to transfer.

They will suggest you fee rate in sat/byte or sat/vbyte, and I believe no suggestion like $20 sats, did you make a typo?

What are network fees. In this article, they suggest to use https://buybitcoinworldwide.com/fee-calculator/

Pi-network314159

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Quote from: BlackBoss_ on November 16, 2023, 02:41:30 AM

Quote from: Pi-network314159 on November 16, 2023, 02:03:17 AM

How do I know the the fee set by my wallet?

What wallet you are using to make your Bitcoin transaction?

If you don't say the name of that wallet, it's hard help you specifically.

I think I have stated it already in my topic that it's trust wallet
But what I don't know is whether this high charges on bitcoin in trust wallet is applicable to bitcoin in Binance or other exchanges. Judging from people's explanation here, I think in trust wallet one must have up to $20 sats above before transacting, because it is needless to do a transaction that will incure changes that is higher than the amount you want to transfer.

BlackBoss_

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Quote from: Pi-network314159 on November 16, 2023, 02:03:17 AM

How do I know the the fee set by my wallet?

What wallet you are using to make your Bitcoin transaction?

If you don't say the name of that wallet, it's hard help you specifically.

When you broadcast your transaction, you will see information of it, includes transaction fee, fee rate. Even after that you click on your transaction, details to see information like fee rate.

In some wallets, you will have options when bump your fee, with two options: Preserve payment (don't deduct transaction fee to the transaction value); Decrease payment (deduct transaction fee to transaction value) like Electrum wallet.

Pi-network314159

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Quote from: nc50lc on November 16, 2023, 01:02:44 AM

Quote from: Pi-network314159 on November 16, 2023, 12:14:29 AM

I have reduced the price from 5 to 4 to 3 and Even $2 but still the same message.

$6 worth of bitcoins is more or less 0.00016020BTC.
The dust limit is 0.00000546BTC for legacy or 0.00000294BTC for SegWit if it's following the Bitcoin standards (Trustwallet's limit isn't disclosed)
So if you deduct the fee that's set by your wallet, it will fall way below the dust limit.

How do I know the the fee set by my wallet?

Quote from: nc50lc on November 16, 2023, 01:02:44 AM

Quote from: Pi-network314159 on November 16, 2023, 12:14:29 AM

what should I do please?

Wait for the Ordinals NFT hype to pass until you can spend with 1~5sat/vB fee rate; use another wallet to do so.

Also, have your received that $6 in one transaction?
Because if not, you'll have to spend more on fees than the actual amount that you can send.

I have the $6 in my wallet and haven't made any transaction before in that wallet just a newly created wallet

nc50lc

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Quote from: Pi-network314159 on November 16, 2023, 12:14:29 AM

I have reduced the price from 5 to 4 to 3 and Even $2 but still the same message.

$6 worth of bitcoins is more or less 0.00016020BTC.
The dust limit is 0.00000546BTC for legacy or 0.00000294BTC for SegWit if it's following the Bitcoin standards (Trustwallet's limit isn't disclosed)
So if you deduct the fee that's set by your wallet, it will fall way below the dust limit.

Quote from: Pi-network314159 on November 16, 2023, 12:14:29 AM

what should I do please?

Wait for the Ordinals NFT hype to pass until you can spend with 1~5sat/vB fee rate; use another wallet to do so.

Also, have your received that $6 in one transaction?
Because if not, you'll have to spend more on fees than the actual amount that you can send.

Fuso.hp

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You want to transfer only $6 BTC but you have to pay more than the amount you want to transfer as transfer fee. The transfer fee is now extra so you don't need to transfer this small amount of BTC right now. If you want to receive six dollars in your account then you need to have 20 dollars of BTC in your account. When you have $20 worth of BTC in your wallet, you can transfer BTC and receive $6. I don't think there is any need to pay $12 transaction fee to transfer $6. It would be a good advice for you to first wait for the normal transaction fees and transfer your BTCs when the transaction fees are normal.

Zaguru12

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You’re getting the dust error because the amount in total is smaller when compared to the transaction fee. With the $6 worth of bitcoin you’re about to send which I think is the total combine amount from all UTXOs on that wallet and with a fee rate estimated to around 250 sats/vB (13.01) by mempool.space you can’t spend from that wallet.

One of the reason is because Trustwallet doesn’t customize fees so if you try to broadcast that transaction you will be charged to spend $13 on fees which is way higher than the total amount in that wallet. So there is nothing that can be done about except you deposit a significant amount to that wallet so you can spend from there or the transaction fee reduces to like $2

Pi-network314159

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Good day every one, I had some issues on my trust wallet. I was sent about $6 in my bitcoin address and I have been trying to send to another bitcoin address and it has been showing me this error message"Unable to transfer due to dust utxo error" what should I do please?

I have reduced the price from 5 to 4 to 3 and Even $2 but still the same message.

Topic: How do i avoid dust utxo error message. - page 2. (Read 301 times)