At BLOX, we don't charge extra fees for depositing crypto! However, the exchange you use may require you to pay network fees to complete the transaction.
What are the Network Fees?
Sending crypto is an intensive process. All over the world, passionate "miners"and "validators" work hard to make sure your transactions are completed safely and securely. Of course, such a network does not just happen. To keep this network running, a small fee is charged: the network fee. You can compare these costs to putting a stamp on a letter. Just as you use a stamp to pay for the delivery service, the network fees are used to reward the miners and validators for their efforts in safely processing of your transactions.
How much network fee do I have to pay?
This can vary dependent on several factors. Fortunately, many exchanges nowadays provide you with a recommended amount of network fees to attach to the payment or take the amount directly from the total amount you send.
💡 Note: crypto depositing is not difficult, but always keep these two important points in mind:
- Network fees can vary by exchange, some exchanges give different amounts to the transaction causing it to arrive earlier or later.
- Network fees are not stable, they are affected by network traffic and are highly volatile.