Why can't I move my XTZ?

Tezos Asked by user5185 on November 7, 2021

Firstly, the questions that have been asked similar to this one have zero answers.

Today I tried to move my XTZ from the KT1 address in my Galleon wallet to my XTZ address on Binance. Twice I got a status indicator followed by no confirmation that anything had happened. Then I tried to transfer the XTZ from the KT1 address to the tz1 address to see if that would work. I got a confirmation of the contract being ‘invoked’ but it just stayed as pending, nothing moved, and when I logged out and logged back into Galleon, it was as though the transaction had never happened.

I tried accessing my XTZ using a different wallet and was able to access the wallet in, but several attempts to transfer the XTZ out of there also failed – it was saying that I don’t have enough XTZ for the transaction fees, even though I was setting a very high fee (1 XTZ) and leaving enough for the burn amount.

When I check my KT1 address on TzStats, the balance seems to be correct but I am very confused and frustrated as to why I can’t perform a simple transfer of my XTZ. Is anyone able to help please?

One Answer

In order to transfer out of a KT1, the manager TZ1 must have enough funds in it to pay for the transaction fee. KT1's cannot pay fees; only the manager TZ1 can. Make sure you have at least 1-2 XTZ in the manager TZ1 before trying to transfer out of a KT1. A fee of 1XTZ is insane; leave that normal.

Answered by utdrmac on November 7, 2021

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