Need your help. I'm using Electrum on Android. I transferred my Bitcoin from my Trust Wallet to Electrum, setting up a wallet with 2FA. I didn't realize that there's a fee for using 2FA on Electrum at the time I did it, probably because I was eager to transfer the satoshis, fearing that my Trust Wallet might have been compromised.
I transferred it from Trust Wallet to Electrum last December, and on January 28, I attempted to make the first transaction. However, I was surprised to see an extra fee aside from the mining fee, so I inquired about it.
Here's the post I made in a thread:
The BTC fees is not expensive as before, only need less than $2 (
mempool) to send a transaction with the size less than 250 bytes and it should be confirmed in the next block.
Yeah maybe, but look at my case. I'm trying to deposit 20 USD of BTC, but besides the mining fee, is there also an extra fee? And I think paying 9.68 USD for 20 USD is still expensive. It's already the same amount that I'll bet on a single match. I don't know if there's anything else I should do.
Please see the attached screenshot below.
and this was replied by Sunderland:
The BTC fees is not expensive as before, only need less than $2 (
mempool) to send a transaction with the size less than 250 bytes and it should be confirmed in the next block.
Yeah maybe, but look at my case. I'm trying to deposit 20 USD of BTC, but besides the mining fee, is there also an extra fee? And I think paying 9.68 USD for 20 USD is still expensive. It's already the same amount that I'll bet on a single match. I don't know if there's anything else I should do.
Please see the attached screenshot below.
- snip -
I see, you have used the 2FA service/TrustedCoin 2FA in your Electrum wallet and that is not a free service.
That is why there is an Extra Fee, I suggest to use a standard electrum wallet.
For more info kindly read here:
https://api.trustedcoin.com/#/faq
And for the mining/transaction fees, there are some outputs in your BTC address which caused the fees are a bit expensive.
The fees are not affected by the amount of BTC you send, but it depends on the outputs of that transaction.
e.g: Sending 3 outputs of $20 will be more expensive in fees than sending 1 output of $20.
I still don't have an Electrum wallet on my laptop, as I am worried that my machine might not be safe since I already had other compromised wallets before.
I hope that the experts here can answer and help me with some of my questions.
Is it possible to disable 2FA on my current wallet address? If yes, how? If not, what should be my first step? How can I restore it using the seed phrase to remove the 2FA? I followed the instructions on the TrustedCoin FAQ page but I need more guidance. Do I need to restore it on a new or different device?
Thank you
