When you send cryptocurrency from one wallet to another, the transaction needs to be verified by the blockchain network. The computers that do this work charge a fee, called a network fee, transaction fee, or sometimes a gas fee (on Ethereum).
Network fees are not charged by Coinme. They go directly to the miners or validators who maintain the blockchain. Coinme has no control over these fees.
Why do network fees change?
Network fees are based on how busy the blockchain is at any given moment, similar to traffic on a highway. When the road is empty, you get through quickly and cheaply. When traffic is heavy, it costs more and takes longer.
Higher demand = higher fees. When the Bitcoin or Ethereum network is busy, fees rise because people are willing to pay more to get their transactions processed faster.
Lower demand = lower fees. When the network is quiet, fees drop.
When do I pay a network fee?
You pay a network fee when you send cryptocurrency from your Coinme wallet to an external wallet address. The fee is deducted from the amount you're sending.
You generally don't pay a separate network fee when:
Buying crypto through Coinme (the network fee may be built into the transaction)
Holding crypto in your wallet
Selling crypto within the Coinme app
The total fee shown in your transaction preview includes both the current blockchain network fee and Coinme's service charge.
How much are network fees?
Fees vary by cryptocurrency and network conditions at the time of your transaction.
Cryptocurrency | Typical fee range |
Bitcoin (BTC) | Under $1 to several dollars, depending on congestion |
Ethereum (ETH) | Higher and more variable, especially during periods of heavy use |
Litecoin (LTC), Stellar (XLM), XRP | Generally lower than Bitcoin or Ethereum |
The Coinme app will always show you the estimated total fee before you confirm a transaction.
Can I reduce network fees?
You can't directly control the network fee, but you can be strategic.
Send during off-peak times. Weekends and late nights (US time) often have lower network traffic and lower fees.
Choose a lower-fee cryptocurrency. If the recipient accepts multiple types of crypto, some networks are consistently cheaper than others.
Batch transactions. If you're sending crypto to multiple addresses, fewer larger transactions are usually cheaper than many small ones.