Post
Topic
Board Bitcoin Technical Support
Re: $10 transaction fee on $11 transaction
by
ETFbitcoin
on 23/07/2020, 08:46:30 UTC
Okay, lack of knowledge maybe, I used Electrum just as I always do. And I've been using it for months and I am fairly comfortable with the process. Like I said I don't know why it was sent like that
Because you just sent it with the "recommended fee" (which was too much). Wallets have a tendency to overpay in fees because they can't exactly know how much is enough. All they do is calculate an estimate based on how much was paid in the last blocks and in the current unconfirmed transactions in the mempool.

Additionally Electrum's default recommended fee is optimized to ensure your transaction confirmed quickly, rather than using as little fees as possible.
In fact, many wallet (especially closed-source wallet or custodial service) have similar behavior.