How much should I spend when I send BitCoin to other people using electrum wallet?

The fee displays "Target: Within 10 blocks, Current rate: 2.5 sat/byte" when I use electrum wallet to send BitCoin to other people.

I can't understand completely the means of "Target: Within 10 blocks, Current rate: 2.5 sat/byte" ?

How much should I spend if I send one BitCoin to other people ? Thanks!

I hope you give me the details about how to calculate the fee!

Added Content

To Abdussamad: Thanks!

1: The sat is 0.00000001 BTC , right?

2: I send one BTC to other people, how can I know the byte? If I know the byte, I can calculate the fee= byte * 2.5* 0.00000001 BTC

electrum

HelloCW

Posted 2018-10-13T04:30:56.610

Reputation: 87

Thanks! but I still confuse it, Could you tell me how much I should pay if I send one BitCoin to other people? – HelloCW – 2018-10-13T07:51:02.530

1tx fees are calculated based on the size of a transaction in vbytes, not by the amount of btc being sent. A transaction with lots of inputs or outputs will cost more than one with only a couple inputs/outputs. Further, transaction fees follow a dynamic market equilibrium, as miners will include the txs which pay them the most at the time (usually calculated in satoshis/vbyte). So there is no generic answer for ‘how much to send one bitcoin’. – chytrik – 2018-10-13T07:58:40.933

Answers

Does this make sense to you?

---------|-------------------

low/slow........high/fast

The further left you move the slider the lower the fee you pay and the longer it'll take to confirm. The further to the right you move the slider the higher the fee and the faster it'll confirm. If you still don't get it go to tools > preferences > fees tab and check edit fees manually. Now on the send tab you'll be able to see the whole calculation including the absolute amount of fees you will pay for a particular transaction.

Abdussamad

Posted 2018-10-13T04:30:56.610

Reputation: 1 850

Thanks! Would you please to see my added content in the question? – HelloCW – 2018-10-13T08:19:04.183

1@HelloCW You forgot this part: "go to tools > preferences > fees tab and check edit fees manually. Now on the send tab you'll be able to see the whole calculation including the absolute amount of fees you will pay for a particular transaction." – Abdussamad – 2018-10-13T08:26:34.250

Thanks! I find the byte is 224 for sending 0.5BTC, and current 1BTC=6400USDT, so the fee will be 2240.000000016400=0.014 USDT, it's so cheap, is my calculation right? – HelloCW – 2018-10-13T09:01:49.670

1224*fee rate = fee in satoshi. if the fee rate you set using the slider is 1 satoshi per byte then it's 224 satoshis which at 6400 is $0.014 yes. transaction fees have gone down a lot since the 2017 peak. – Abdussamad – 2018-10-13T10:47:06.090