Sending Transaction Fee

To ensure transactions are completed on the network successfully, a 'mining' or 'network' fee is incurred. This fee is paid to the miners or validators of the network, which processes the transactions and secures the respective network.

Fees are determined by the network in use and are subject to change based on the current network activity, congestion and market movement.

This is displayed as the 'Transaction Fee' within the wallet for each coin and is a standard flat fee per transaction. 

When sending coins off the platform, multiple networks may be available with associated fees. Some coins won't have an option and will present you with the single network and its withdrawal fee. 

Before completing your sending transaction, do note the transaction fee will be deducted from the coin wallet. Please ensure that there is sufficient funds to cover the fee in your wallet.

With the example below, we present you with the Ethereum (ETH) Sending Wallet and the two networks we send on. We strongly recommend confirming with your recipient wallet provider for the support and compatibility of the transfer network before initiating your coin send.

To send via a different transfer network, please follow the instructions below.

Locating the Transaction Fee

1. Locate your sending wallet page for the coin you wish to send (ETH as an example) 

                                                  Figure 1. Sending Transaction Fee - (Wallets Page)

2. Once in the coin wallet dashboard, navigate to the 'Send' page.

                                                  Figure 2. Sending Transaction Fee - (ETH Wallet)

3. Open the drop down box under Send Via Which Network⁽¹⁾. Notice the individual ETH Network Fees⁽²⁾ for the following networks.

                                                  Figure 3. Sending Transaction Fee - (Network Selection)

This process is applicable to all coins on the platform. Some coins are only able to be sent via one network, the fee will show below the amount entry field. Please view figure 4 below on where this is shown using Bitcoin (BTC) as an example -

                                                  Figure 4. Sending Transaction Fee - (Transaction Fee)

For further information as to how to send coins to an external wallet address, please read the following article

• Sending Coins to an external wallet address

Need more help? 

Please submit your request via Zendesk - https://coinspot.zendesk.com/hc/en-us/requests/new

or start a conversation with us via Live Chat and our team will provide full instructions and advice.