Transaction Fee query – Bitcoin Core Wallet

Bitcoin Questions and AnswersTransaction Fee query – Bitcoin Core Wallet
Thomas asked 5 months ago

Hi,
I have a Bitcoin Core Wallet (Bitcoin Core version v0.14.1 (64-bit)) and have been wondering about the following for quite some time:
When I select “Subtract fee from amount” (next to “amount”) where does this fee come from? It appears to be in no way related to the “Transaction Fee” section below it?
How do I apply the “Recommended” or “Custom” seen in the “Transaction Fee” section?
Thanks in advance

1 Answers
Zsofia Elek answered 5 months ago

Hi Thomas,
In the Bitcoin Core Wallet you can set your own transaction fee. The higher the transaction fee the quicker it will be confirmed on the network, you can set it on your own (Custom) or accept the suggestion of the wallet (Recommended). The amount of transaction fee can be deducted from the amount you are sending or from the remaining balance of the wallet. 

Jorge replied 4 months ago

Hi!, I’m trying to send 0.9 BTC from my Bitcoin Core Wallet v0.14.2 to an exchange, but the fee (recomended) its about 10%, nearly 0.09 BTC (because 56 kB !!! transaction), so, my question: is there any risk to lose my BTC (never be confirmed the transaction) if I set it on my own (Custom option) ? I dont know why its so big in kB !!

I really apreciate ur answer, thank you!

Jorge.

Jorge replied 4 months ago

Hi!, I’m trying to send 0.9 BTC from my Bitcoin Core Wallet v0.14.2 to an exchange, but the fee (recomended) its about 10%, nearly 0.09 BTC (because 56 kB !!! transaction), so, my question: is there any risk to lose my BTC (never be confirmed the transaction) if I set it on my own (Custom option) ? I dont know why its so big in kB !!

I really apreciate ur answer, thank you!

Jorge.

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