Summary

When you create a transaction using the Bitcoin.com Wallet, you can customize the fees you pay for using the public blockchain network.

🔍 NOTE🔍

Bitcoin.com does not charge any additional fees for sending and receiving cryptoassets or for transacting on public blockchain networks. Network fees are paid to the miners/validators of the public blockchains.

How to customize network fees

When you create a transaction using the Bitcoin.com Wallet, you can customize the fees you pay for using the public blockchain network. Here's how:

  1. On the "Enter send amount" screen, tap on the "Network fee" icon at the bottom-left

  2. Choose from one of the three following options:

'Eco' means you'll pay a lower fee, but your transaction will take longer.

'Fast' strikes the optimal balance between cost and speed.

'Fastest' optimizes for speed over cost.

Here’s how to adjust the transaction fee when sending Bitcoin:

Table of contents

Fees for sending Bitcoin (BTC)

Fees for sending Bitcoin Cash (BCH)

Fees for transacting on the Ethereum network

Fees for transacting on the Avalanche network

Fees for transacting on the Polygon network

Fees for sending Bitcoin (BTC)

What's the BTC network fee?

Bitcoin transactions incur a small fee which is paid to the miners that confirm them. Transactions with higher fees are picked up sooner by miners (who optimize for profitability), so higher-fee transactions are more likely to be included in the next block. This means you can opt for faster transaction processing by paying a higher fee. Alternatively, if you're not in a rush to have your transaction confirmed, you can save money by opting for a lower fee. However, you need to be careful because if you set the fee too low, your transaction may take hours or get stuck for days, and ultimately be reversed altogether. Don't worry though, you're never in danger of losing bitcoin by setting the fee too low. In the absolute worst case, you'll have to wait 72 hours with your bitcoin in limbo until it's finally returned to your wallet.

How are BTC fees determined?

Fees are measured in satoshis/byte. A satoshi is the smallest divisible unit of bitcoin. This is 0.00000001 BTC (8 decimals, or 100 millionth of a bitcoin). Each transaction is made up of data, which is measured in bytes. In general, more complicated transactions (more inputs and outputs) involve more data and so are more expensive.

The default BTC network fee in the Bitcoin.com Wallet ("Fast") is set to have your transaction confirmed most likely within the next two blocks (so less than 30 minutes). If you change it to "Fastest," you'll pay a higher satoshi-per-byte rate and likely have your transaction confirmed in the next two blocks (so less than 20 minutes). Changing it to "Eco" will save you some money, but still result in your transaction getting confirmed within the next six blocks (generally less than 60 minutes). For advanced users, you also have the option of setting a custom fee. You'll want to use a tool like Bitcoinfees to ensure you're choosing an appropriate fee given the current state of network congestion.

Customizing fees when sending BTC

When you create a transaction on the Bitcoin network using the Bitcoin.com Wallet, you can customize the fee you pay to Bitcoin miners for sending BTC. Here's how:

  1. On the "Enter send amount" screen, tap on the "Network fee" icon.

  2. Choose from one of the three following options:

'Eco' means you'll pay a lower fee, but your transaction will take longer.

'Fast' strikes the optimal balance between cost and speed.

'Fastest' optimizes for speed over cost.

You also have the option to manually customize the network fee, choosing exactly the satoshi/byte rate you prefer. Here's how:

  1. On the "Enter send amount" screen, tap on the "Network fee" icon at the bottom-left

  2. Select "Advanced fee options." You'll then be prompted to enter the precise satoshi/byte rate you prefer. You can use a tool like this to determine the optimal Bitcoin fees for your needs.

🔍Note that if you choose the 'Eco' option or manually customize the network fee to a level that is too low, there's a small chance your transaction will be canceled due to network congestion. In this case, you won't lose your Bitcoin, but you will need to wait up to 72 hours for the transaction to be canceled, at which point you'll need to re-initiate the sending process.

Fees for sending Bitcoin Cash (BCH)

Sending bitcoin cash (BCH) generally incurs a fee of less than a penny per transaction.

Why is the BCH network fee so low?

The Bitcoin Cash network has a bigger block size than the Bitcoin network. This means that, in most cases, there is plenty of space in each block to include all transactions proposed by network participants. The result is that fees for Bitcoin Cash transactions are negligible. Furthermore, transactions are always confirmed quickly. These features make Bitcoin Cash ideal for use as peer-to-peer money.

Learn how to send BCH to anyone using a “shareable link.”

Fees for transacting on the Ethereum network

Summary

Transactions on Ethereum incur fees that are paid to the network in ETH. This means that you must have a balance of ETH in your wallet in order to execute any type of transaction on the Ethereum network.

Customizing fees using the Ethereum network in the Bitcoin.com Wallet

When you create a transaction on the Ethereum network using the Bitcoin.com Wallet, you can customize the fee you pay to the Ethereum network. Here's how:

  1. On the "Enter send amount" screen, tap on the "Network fee" icon at the bottom-left

  2. Choose from one of the three following options:

'Eco' means you'll pay a lower fee, but your transaction will take longer*

'Fast' strikes the optimal balance between cost and speed

'Fastest' optimizes for speed over cost

Here’s how to adjust the transaction fee when sending Ethereum (ETH):

Manually customizing fees when using the Ethereum network in the Bitcoin.com Wallet

The Bitcoin.com Wallet constantly monitors the market rate for gas, as well as the current base fee cost, to arrive at the optimal price for each preset mode. However, you also have the option to manually customize your gas price for each transaction (see below for an explanation of how 'gas' relates to fees in Ethereum). You can check gas rates using a tool like https://ethgasstation.info/ and set customized fees based on the market rate for gas. Here's how to set customized fees in your wallet:

  1. On the "Enter send amount" screen, tap on the "Network fee" icon at the bottom-left

  2. Select "Advanced fee options." You'll then be prompted to enter the precise gas price in Gwei for your transaction.

Read more: Why is my Ethereum transaction pending and what can I do about it?

Ethereum fees in detail

The cost you pay for a transaction on the Ethereum network is two-fold. First, there is the base fee, which is burned (destroyed). Second is the inclusion fee, or tip, which is paid to network validators. Both of these fees are influenced by market forces, meaning the cost goes up when the network is congested. The total cost for a transaction also depends on its complexity.

Transaction complexity is measured by computational effort, which is delineated in units of "gas." For example, sending ETH from one wallet to another (one of the simplest transactions you can make), may consume up to 21,000 units of gas. One unit of gas is equal to 0.000000001 ETH (10-9 ETH). Note that this denomination of ETH is also known as a giga-wei, or gwei.

Total fees are calculated as follows:

Gas units * (base fee + tip)

Let’s look at an example where Alice sends Bob 1 ETH. Imagine the base fee is 100 gwei and Alice includes a tip of 10 gwei. Using the above formula, we can calculate this as 21,000 * (100 + 10) = 2,310,000 gwei or 0.00231 ETH.

When Alice sends the money, 1.00231 ETH will be deducted from Alice's account. Bob will be credited 1.0000 ETH. The validator will receive the tip of 0.00021 ETH and the base fee of 0.0021 ETH is burned.

Fees for transacting on the Avalanche network

Summary

Transactions on Avalanche incur fees that are paid to the network in AVAX, the network’s native token. Although fees are generally very small, you must have a balance of AVAX in your wallet in order to execute any type of transaction on the Avalanche (C-Chain) network.

Customizing fees when using the Avalanche network in the Bitcoin.com Wallet

When you create a transaction on the Avalanche (C-Chain) network using the Bitcoin.com Wallet, you can customize the fee you pay to the network. Here's how:

  1. On the "Enter send amount" screen, tap on the "Network fee" icon

  2. Choose from one of the three following options:

'Eco' means you'll pay a lower fee, but your transaction will take longer*

'Fast' strikes the optimal balance between cost and speed

'Fastest' optimizes for speed over cost

Advanced users may also choose to manually customize fees:

  1. On the "Enter send amount" screen, tap on the "Network fee" icon at the bottom-left

  2. Select "Advanced fee options." You'll then be prompted to enter the precise gas price in nAVAX for your transaction.

How do fees work on the Avalanche network?

In order to prevent spam, transactions on Avalanche require the payment of a transaction fee. The fee is paid in AVAX and subsequently burned (destroyed forever).

Transactions on the Avalanche network are measured by computational effort, which is delineated in units of "gas." **Simple transactions like sending from one wallet to another use less gas than more complicated transactions such as those that interact with one or more smart contracts.

When you create an Avalanche C-Chain transaction, you must set the “gas price.” This is the amount of AVAX you are willing to pay for each unit of gas consumed. Gas price is measured in nAVAX, which itself is a denomination of AVAX. Each nAVAX is equal to 0.000000001 AVAX (10-9 AVAX). So, instead of saying that your gas costs 0.000000001 AVAX, you can say your gas costs 1 nAVAX.

The Avalanche C-Chain uses an algorithm to determine the "base fee" for a transaction. The base fee increases when network utilization is above the target utilization and decreases when network utilization is below the target. The base fee can go as low as 25 nAVAX and has no upper bound.

Fees for transacting on the Polygon network

Summary

Transactions on Polygon incur fees that are paid to the network in MATIC. This means that you must have a balance of MATIC in your wallet in order to execute any type of transaction on the Polygon network.

Customizing fees using the Polygon network in the Bitcoin.com Wallet

When you create a transaction on the Polygon network using the Bitcoin.com Wallet, you can customize the fee you pay to the Polygon network. Here's how:

  1. On the "Enter send amount" screen, tap on the "Network fee" icon at the bottom-left

  2. Choose from one of the three following options:

'Eco' means you'll pay a lower fee, but your transaction will take longer*

'Fast' strikes the optimal balance between cost and speed

'Fastest' optimizes for speed over cost

Manually customizing fees when using the Polygon network in the Bitcoin.com Wallet

The Bitcoin.com Wallet constantly monitors the market rate for gas, as well as the current base fee cost, to arrive at the optimal price for each preset mode. However, you also have the option to manually customize your gas price for each transaction (see below for an explanation of how 'gas' relates to fees in Polygon). You can check gas rates using a tool like https://polygonscan.com/gastracker and set customized fees based on the market rate for gas. Here's how to set customized fees in your wallet:

  1. On the "Enter send amount" screen, tap on the "Network fee" icon at the bottom-left

  2. Select "Advanced fee options." You'll then be prompted to enter the precise gas price in Gwei for your transaction.

Read more: Why is my Polygon transaction pending and what can I do about it?

Polygon fees in detail

The cost you pay for a transaction on the Polygon PoS network is two-fold. First, there is the base fee, which is burned (destroyed). Second is the inclusion fee, or tip, which is paid to network validators. Both of these fees are influenced by market forces, meaning the cost goes up when the network is congested. The total cost for a transaction also depends on its complexity.

Transaction complexity is measured by computational effort, which is delineated in units of "gas." For example, sending MATIC from one wallet to another (one of the simplest transactions you can make), may consume up to 21,000 units of gas. One unit of gas is equal to 0.000000001 MATIC (10-9 MATIC). Note that this denomination of MATIC is also known as a giga-wei, or gwei.

Total fees are calculated as follows:

Gas units * (base fee + tip)

Let’s look at an example where Alice sends Bob 1 MATIC. Imagine the base fee is 100 gwei and Alice includes a tip of 10 gwei. Using the above formula, we can calculate this as 21,000 * (100 + 10) = 2,310,000 gwei or 0.00231 MATIC.

When Alice sends the money, 1.00231 MATIC will be deducted from Alice's account. Bob will be credited 1.0000 MATIC. The validator will receive the tip of 0.00021 MATIC and the base fee of 0.0021 MATIC is burned.

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