I’ve googled this so many times, but still can’t seem to find a definitive and clear answer or explanation. I sent some LTC from an old Litecoin wallet (0.8.6.2-beta) to my new wallet (Electrum Litecoin) yesterday (approximately 20 hours ago as of now), and it still hasn’t arrived. I know I need to include a fee, and I have. I set the fee to 0.005 LTC (which seemed ok to me, as it roughly translates to about 1.5$ which is still higher than the average LTC transaction fee according to this website https://bitinfocharts.com/comparison/litecoin-transactionfees.html#3m) . However, it’s about the fees I just can’t seem to get any clarity on. I’m wondering if anyone can help with any of the following.
I’ve been trying to find a website or a calculator that can work out and suggest a fee. I know fees are based on transaction size, but this again, I don’t know how to work out. Is there a good website, or an app that can help with all this?
I’ve read that if the fee is low (or even if there’s no fee) that the transaction may take a long time, or even never complete. What happens in the latter case? Does the amount sent get refunded/credited back to the address it was sent from, or is it forever lost and stuck in some limbo?
If I want to transfer LTC (or any other cryptocurrency really) from one wallet to another, or even to a physical hardware wallet (I’m considering purchasing the Ledger Nano S), is there no way around having to pay fees for every single transfer? I suppose what I’m asking is I’m not paying someone else, I’m “paying” myself. It’s like if you had to include a fee if you bought a new wallet, and wanted to transfer your “traditional” money, say a 10$ note from your old wallet to your new one. Obviously, there’s no fee for this. So I’m thinking, it’s money I already own, and I just want to move it from one wallet to another. I can accept that perhaps a fee must always be involved, as obviously this is different from the physical example I cited above, but I just need someone to confirm this for me definitively, one way or another.