message Not enough funds. You need to set a lower fee. - page 2.

Charles-Tim

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Leading Crypto Sports Betting & Casino Platform

Quote from: alminor on December 08, 2023, 05:20:29 AM

The balance was 0.379 mbts. I had to pay 0.22. The mining fee was approximately 0.9 mbts.

A transaction of 1 input and 1 output will only take 110 vbyte, and with 114 sat/vbyte as fee rate, and bitcoin at 43500, the fee should not be more than $5.45. if it is with legacy address, the fee can not be more than $10.

0.9 mBTC is equal to $39.15 if bitcoin is $43500. That is too high. What can likely case in if if you have many inputs or outputs in that transaction.

If you are having many UTXK count, which will lead to high inputs if you want to make transaction (like consolidation), the transaction fee will be very high. The best is to wait for the mempool to become less congested before making such transaction. Like if you are lucky and the mempool go less congested that 1 to 2 sat/v ye transactions can get confirmed again.

FatFork

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Quote from: alminor on December 08, 2023, 05:20:29 AM

The balance was 0.379 mbts. I had to pay 0.22. The mining fee was approximately 0.9 mbts.

Something doesn't add up and seems there's an inconsistency with the balances and fees. If you only had 0. 379 mbtc before sending, that wouldn't cover a 0.9 mbtc transaction fee. You should look into why Electrum is suggesting such a high fee for your transaction. How many inputs are being used? That can sometimes drive fees up.

Findingnemo

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Bitcoin = Financial freedom

Quote from: alminor on December 08, 2023, 05:20:29 AM

When I try to pay I get message Not enough funds. You need to set a lower fee. But I have enough money on balance to send to receiver and to pay mining fee. The balance was 0.379 mbts. I had to pay 0.22. The mining fee was approximately 0.9 mbts. I wanted to pay using ETA. Please write me, how to solve the problem when paying by ETA or static. If I do not want to pay with mempool.

It means you don't have funds to cover the fee required that you are trying to set.

You can't be sure that you have enough funds to send your 0.22mbtc even with your 0.379mbtc balance because the fee depends on the number of inputs and the number of outputs.

Click the preview button in your electrum wallet which will show you the number of inputs, output, size, etc, and post the image of that to give you more explanation.

hosseinimr93

legendary

Activity: 2380

Merit: 5213

Do you want to send 0.22 BTC or 0.22 mBTC?
Even if you want to make a transaction sending 0.22 mBTC, the error message is still true.

0.379 mBTC is equal to 0.000379 BTC and assuming you want to send 0.22 mBTC, the remaining fund is only 0.000159 BTC which is not enough for paying 0.9 mBTC (or 0.0009 BTC) as transaction fee.

Have you received the fund in several transactions? That's probably why you have to pay that high transaction fee.

OmegaStarScream

staff

Activity: 3500

Merit: 6152

Are you sure you're using the correct unit when sending? mBtc vs BTC? If you're certain, take a look at this article, it might be due to some other reason:

https://bitcoinelectrum.com/frequently-asked-questions/#why-am-i-being-told-that-i-have-insufficient-funds

alminor

newbie

Activity: 1

Merit: 3

When I try to pay I get message Not enough funds. You need to set a lower fee. But I have enough money on balance to send to receiver and to pay mining fee. The balance was 0.379 mbts. I had to pay 0.22. The mining fee was approximately 0.9 mbts. I wanted to pay using ETA. Please write me, how to solve the problem when paying by ETA or static. If I do not want to pay with mempool.
Regards,
Alex

Topic: message Not enough funds. You need to set a lower fee. - page 2. (Read 341 times)