Hi guys,
I've recently started using Electrum and the fees seem crazy high. Heres the break down:
Send 0.00579666 BTC (£25.17)
Mining Fee: 0.0009334 BTC (£4.05)
Additional Fees: 0.002 BTC (£8.68)
Thats like half my bitcoin just to send it?
I thought the whole idea behind bitcoin was that it was cheap and quick to send currency? Super confused! I understand the additional fees are 2FA, but £8.68 and £4.05 for mining? So for me to send £25.17 its going to cost me the best part of half my bitcoin?
Whats going on here?
Thanks for any response!
You're paying too much on additional fees, 0.002 BTC for 2fa?better buy a hardware wallet(trezor or nano s).
you can adjust miners fee, but i'm not sure about 2fa fees. use this(
https://estimatefee.com) to know how much time/blocks your tx will be included in.