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
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.