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.
Table of contents
Customizing fees when using the Avalanche network in the Bitcoin.com Wallet
How do fees work on the Avalanche 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:
On the "Enter send amount" screen, tap on the "Network fee" icon
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:
On the "Enter send amount" screen, tap on the "Network fee" icon at the bottom-left
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.