Frequently confused with a platform charge, and frequently used as a reason to do something worse.
- What it literally says
- A charge attached to moving funds.
- What it actually means
- What your own wallet pays to have a transaction carried. It goes to the network rather than to the platform, and the platform does not set it.
- What it does not mean
- That the platform is charging you to withdraw. It also does not mean the amount is significant, because on this kind of chain it is a fraction of a cent.
- What to do
- Ignore it in almost every decision. It is real and it is too small to change anything.
- If it looks different
- A fee presented as large, or as a reason you should leave funds in place, is an argument rather than a figure.
CommonEvery movement
Needs actionNone
Warning signUsed as an argument
What you actually pay
| Item | Who charges it |
|---|---|
| The listed price | The vendor, and it already contains the vendor fee |
| The network fee on your deposit | The network, paid by your wallet |
| The network fee on a withdrawal | The network again |
| Buyer commission | Frequently none, which sounds like free and is not, because vendor fees are priced into listings |
| The acquisition spread | Wherever you obtained the currency, and it is usually the largest number here by a wide margin |
The number people missSomebody optimising network fees while paying a wide spread at purchase is optimising the small number carefully. The spread happened before you arrived, which is exactly why it gets ignored.
Setting one by hand
Most wallets choose sensibly and the default is almost always right. Setting one manually is the common cause of a payment that stays unconfirmed for a long time, because a fee set too low leaves the transaction waiting. If you have no specific reason to change it, do not.
Why it gets used as an argument
Because it is the only cost that supports leaving funds where they are, and it does not survive the comparison. One movement rather than four saves a sum too small to name and carries an exposure with no ceiling, which is covered properly in available balance.