Electrum LTC wallet


#1

Hi,

When sweeping my paper wallet with Electrum-ltc, i noticed that there are two transactions. One of the transactions is 0.01 ltc and the other is the original amount less 0.01 ltc. Why is there two transactions and what is this 0.01 ltc transaction for? Thanks.


#2

transaction fee?


#3

errr, i dun think so. that’s like 2$ and you can see from this video https://youtu.be/tNZ55kudDjs?t=23s that when you sweep a wallet it only displays one transaction… seems like electrum wallet now automatically takes 0.01 ltc off you when you use it?


#4

Could you share the address or tx id’s?

I think you’re confusing transaction with transaction output


#5

Hi @mautematico,

Thanks for responding. I didn’t proceed with sweeping the wallet yet because of 0.01 LTC transaction that was displayed. The steps taken to reproduce this is as follows:

  1. Open electrum-ltc waller, version 3.0.6.2
  2. Go to Wallet -> Private Keys -> Sweep
  3. Enter paper wallet’s secret key
  4. in the resultant window, the from field shows 2 transactions. One is of the amount 0.01 LTC and the other is the paper wallet’s amount less 0.01 LTC. Please see attached screenshot.

What is the 0.01 LTC transaction? and if i proceed, how much will get transferred into my electrum-ltc wallet? Thanks.


#6

It shows two inputs (from) because there are two inputs on your paper wallet address. So it’s perfectly fine :slight_smile:
It is likely you bought litecoin in two separate events, one for 01, and another for 031~.

So proceed with no worries :slight_smile:
About the credited amount. It will be the total amount, minus miner fee needed to sweep.

An alternative way is to import (no sweep) your private key. This will not involve any sweep, nor transaction, and thus no miner fee.

However, sweep will help you to save money when doing fguture spending.

Also, please take note that you’re setting up a bech32 electrum wallet (which is great!) that, unfurtunetly, won’t be recognized by bast majority of exchanges or online services at the moment, when you try to send money from exchange->wallet.
May be a better idea for the months coming is to use a SegWit-p2sh wallet. But if you plan to do basically only sends an no receives, bech32 is absolutely perfect.

Please let me know if you have any further questions. Will be happy to help.


#7

Hi @mautematico,

Thank you for your kind assistance :slight_smile:
I’ve verified it and it is as you said. Thanks a lot for your help.


#8

Yup. Those are the inputs.

Litecoin and Bitcoin, among other blockchain cryptos, use a UTxO (unspent transaction outputs) model. Each of those inputs are sort of like change.

When you spend those, it will break up the one UTxO (input) into two. For example, if you have 2.0 LTC and send 0.5 LTC, you’ll get two outputs 0.5 LTC to the recipient and 1.5 LTC back to your wallet.

If you received 0.25 LTC, 0.05 LTC and 0.22 LTC (0.52 LTC total) and send 0.5 LTC you’ll see three transaction inputs of 0.25, 0.05 and 0.22, along with the two outputs of 0.5 LTC to the recipient and another for 0.02 to your wallet.