Post
Topic
Board Electrum
Merits 9 from 6 users
Re: High Fees on Electrum? Normal?
by
hosseinimr93
on 12/05/2024, 05:53:14 UTC
⭐ Merited by hugeblack (2) ,Pmalek (2) ,ABCbits (2) ,Charles-Tim (1) ,Asuspawer09 (1) ,DdmrDdmr (1)
Most of the time my transactions were around 40$ and transaction fees were only around 2$ most of the time, of course except if the network was congested but it doesn't seem to be
The transaction fee doesn't depend on the amount of bitcoin you send. The transaction fee depends on the number of inputs and outputs, addresses type, how busy the network is and how fast you want your transaction to be confirmed.


I wasn't expecting this kind of fee since I've checked the mempool was only a 1$-2$ to confirm.
The fee displayed on mempool.space is for a native segwit transaction with 1 input and 2 outputs.
Your transaction includes many inputs and that's why you have to pay higher fee for that.

You may be able to decrease the fee with using coin control and use lower of number of UTXOs.