Post
Topic
Board Electrum
Re: Is the fee flexible?
by
nc50lc
on 12/10/2024, 10:39:16 UTC
Since we're on the subject of Electrum... once I manage to unload this 2fa-protected wallet...will STANDARD Electrum wallet do what I need it to do:

Collect small payments (0.5 mbtc to 5 mbtc each) for a few months from various senders, and then send the lump sum to another address in a single transaction

?
Yes, the fee will be even cheaper.
In that same calculator, select the script type "P2WPKH", 1 signatures and public keys per input.

For the transfer from your 2fa to standard wallet:
You can time that when the average fee rate is low, refer to mempool.space for the current optimal fee rate.
Just be wary that standard wallet doesn't have the security benefit of a 2fa wallet so make sure to keep your machine clean from malware/virus, or use "Cold-Storage".
To skip the 2fa fee, restore your seed phrase and select "disable" when prompted to keep 2fa.
(I saw your post suggesting you don't have the seed phrase?)

If you didn't written your seed phase as instructed during wallet creation; that's another reason to move your funds since you've basically lost full control of your bitcoins by having only 1 out of the three keys of your 2fa wallet. (a topic for another discussion)