Re: Claiming BCH from BTC stored in Electrum and moving everything to Ledger Nano S
Thank you @LoyceV and @Lucius!
Yes, there are many small inputs, which I now understand are the reason the fee is high.
@Lucius, no, I didn't miss anything, and I appreciate you trying to help, it's just that initially I didn't know I could manually enter whatever fee (satoshi/byte) I want, I thought I had to go with what Electrum was pre-populating, which was something like 105 sat/B. Yes, of course I understand I have to pay a fee, and I will happily pay more than 1 sat/B, but not 100x more, which results in a very large fee for me, because I really just need the transaction to confirm, but speed isn't of major importance.
I understand lower fees mean longer confirmation times. Do I have any reason to worry if my transaction doesn't confirm in a long time, I don't know days, or even weeks? Because during that time, I feel like my BTC is in "limbo", neither here nor there, and that's quite unnerving. Or is being patient the only requirement, and the transaction WILL DEFINITELY eventually confirm, and it's not possible for the BTC sent to "vanish", never reaching the receiving address?
Thanks!
Yes, there are many small inputs, which I now understand are the reason the fee is high.
@Lucius, no, I didn't miss anything, and I appreciate you trying to help, it's just that initially I didn't know I could manually enter whatever fee (satoshi/byte) I want, I thought I had to go with what Electrum was pre-populating, which was something like 105 sat/B. Yes, of course I understand I have to pay a fee, and I will happily pay more than 1 sat/B, but not 100x more, which results in a very large fee for me, because I really just need the transaction to confirm, but speed isn't of major importance.
I understand lower fees mean longer confirmation times. Do I have any reason to worry if my transaction doesn't confirm in a long time, I don't know days, or even weeks? Because during that time, I feel like my BTC is in "limbo", neither here nor there, and that's quite unnerving. Or is being patient the only requirement, and the transaction WILL DEFINITELY eventually confirm, and it's not possible for the BTC sent to "vanish", never reaching the receiving address?
Thanks!