Electrum has a dynamic fee system which sets a default fee based on what it thinks will get confirmed in decent time.
You can customise your fees by going to Tools -> Preferences -> Fees tab -> Edit fees manually. To decide what fee you want to pay, you could try having a look at
this page, which estimates how long your transaction would take to confirm with different transaction fees.
Currently according to that site, it would be okay to pay anything 21 satoshi/byte or above, and possibly a bit less than that as well.
I am trying to send .01 btc from my Electrum wallet. But it is asking for a fee of about .006 btc.
Are you sure it isn't 0.0006? It would be very unusual for the fee to be that high. Perhaps you've accepted a lot of microtransactions to your wallet which is pushing the fee up.
Hi!!! Thank you very much for responding. I am really surprised actually. This is my very first transaction to send using my electrum wallet and also
i transferred bitcoin to it ONCE so far. I am using a different wallet and i just wanted to try this desktop wallet.
I am not sure about the "Microtransactions". Here is the scenario,
1. I have .0117 btc in my wallet and i want to use it to use it to buy an alt coin
2. The electrum wallet does not allow me to send more than .006 btc
3. If i send more than .006 btc,, the wallet says "Insufficient funds". So it means the rest of the .0057 btc goes to the FEE?
I don't understand why it does not allow me to send more than .006 btc.
Hope you can help me out.
