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What are Network Fees?
What are Network Fees? avatar
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Updated over a week ago

Network fees are paid for your transaction to be confirmed and included into the BLOCKCHAIN. The fee paid is a reward for network MINERS to process your transaction to be finalized. calculates the network fees for the coin pair selected and applies to the SHIFT.

How network fees are included in your SHIFT applies network fees for SHIFTS involving certain coins.

Depending on your shift rate selection, the network fees will be displayed differently.

FIXED RATE shifts: Network fees are included as a part of the Exchange Rate displayed. This rate will update depending on the fixed deposit/settle amount entered by the user:

VARIABLE RATE shifts: Network fees are not included in the Live Exchange Rate. Instead, it is shown on the Shift Order Page (after you have pressed the SHIFT button):

TIP: Hover over the Tool Tip next to ‘Estimated Network Fees’ to view a breakdown of the fees

What are the Network Fee types:

Sending fee: Network fee paid to send settlement token to your chosen wallet address. Applies to BTC, ETH and ERC20 tokens.

Address fee: for contract creation of the unique deposit address for each Shift. Only applies to ERC20 deposits.

Receiving fee: Applies to all ETH & ERC20 deposits that require a sweep transaction from the unique deposit address to process shift.

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