I am using [email protected]. I am trying to implement the sendSignedTransaction method, but it keeps on giving me below error.

reason: 'err: insufficient funds for gas * price + value:

I am sure I do have funds for txn. If I use the v1.10.2 and make corresponding syntax changes in the way I import web3, the txn is successfully executed.

Here is my code:

const { Web3 } = require("web3"); 
const Tx = require('ethereumjs-tx').Transaction;
const web3 = new Web3('<goerli_http_endpoint>'); 

async function fun() {
    account1 = '<myAcc1>';
    privateKey1 = '<myPk>';
    account2 = '<myAcc2>';

    let amountToSend = web3.utils.toWei('0.001', 'ether');
    let acquiredPrice = web3.utils.toWei('10', "gwei");
    web3.eth.getTransactionCount(account1).then(async nonce => {
        // create tx object
        txObj = {
            nonce: web3.utils.toHex(nonce),
            from: account1,
            to: account2,
            value: web3.utils.toHex(amountToSend),
            gasPrice: web3.utils.toHex(acquiredPrice),
            gasLimit: web3.utils.toHex(21000)

        // sign tx
        let tx = new Tx(txObj, { 'chain': 'goerli' });
        tx.sign(Buffer.from(privateKey1, "hex"));

        // serialize tx
        const serializedTx = tx.serialize();
        const rawTx = '0x' + serializedTx.toString('hex');

        // send tx
        .on('receipt', txReceipt => {
            console.log("Receipt:", txReceipt)
        .on('transactionHash', txHash => {
            console.log("Hash:", txHash)
        .on('error', error => {
            console.log("Error:", error)
    }).catch(error => {


The same above code works if I execute it with web3 v1.10.2 and making the following single change.

const { Web3 } = require("web3"); // for v4.2.0
const Web3 = require("web3"); // for v1.10.2

Could anyone please tell me the right way to do it using v4.2.0.


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