Resource for learning/monitoring transaction & exchange fees?

Cryptocurrency Crypto Trading
#1

If anyone has a link to something for learning/monitoring transaction & exchange fees, I’d appreciate it. At the moment I’m mainly looking at ETH -> BTC fees, but I don’t quite understand what all is involved. Evidently there’s a “gas fee” when I send ETH to an exchange, and then the exchange takes some % before sending BTC to my wallet? Is there some similar transfer fee taken from the BTC before I receive it? I.E. does the exchange just take X% from what they return to me or is X% + (fixed fee)?

I am assuming there are fees every time coins are transferred, not sure if these fees are fixed %'s, set rates, if there are minimum fees or minimum transfer amounts etc. Is there a chart or something describing this info for the various coins?

Thanks in advance.

#2

So their are 2 fees when your creating a transaction the first one is the transaction fee. Transaction fee is determined by the exchange usually 0.1% but it varies from exchange to exchange so check it to be certain.

The second one is network fee that fee is needed to actually send your coins on the BTC or ETH network. when you send some BTC for example your network fees are sent to miners because they need to verify the transaction and for their effort they are rewarded a share of your transaction fee .

The network fee always fluctuates meaning if their are a lot of transactions then the price to process all the transaction becomes higher thus that’s why ETH mining is really profitable.

This site shows the average transaction price of BTC , theirs tons of site by the way so feel free to explore

For ETH network fees use

i hope i didn’t confuse you in any way feel free to ask anything

3 Likes
#3

Thank you, I didn’t realize that the network fees fluctuated.

The last time I dabbled in crypto was in 2014 and I believe that the fees were considerably less back then.

1 Like
#4

Great info yacob! :blush:

1 Like
#5

Great info :+1::+1::+1:

Thanks to all for posting!!!

1 Like