Post
Topic
Board Bitcoin Technical Support
Re: Some help with my first transaction
by
LiverLamas
on 16/12/2020, 02:03:14 UTC
By default, Electrum lists balances in mBTC, so you have to go to Tools > Preferences > Base Unit and select BTC. I assume this is your first time using Electrum, so you might be sending 0.007 mBTC on accident, which is worth 0.00007000BTC (7000 sats) and sending transaction fees worth 0.00002000 (2000 sats fee). Changing the units to BTC will make transactions send the correct amount for you, which is 0.007BTC, and will give you the correct fees, which should be much lower than 0.002BTC.

This one is the correct way, and explanation is good