When you buy or sell, the Transaction Fee for the transaction processing will be automatically calculated for your trade or payment and the interface will show its actual monetary value.
The Network transaction fees add-up to the total of fees you pay for having your trade or payment processed. Please note that we do not collect transaction fees. Transaction fees are paid to the miners maintaining the networks and are determined by demand in the market for transaction confirmation. Especially ERC-20 tokens such as ETH, USDT and USDC has seen a tremendous increase in fees during 2021. This is due to the large increase of activity on the Ethereum network where especially the rise of NFTs has outperformed the network.
Can the network transaction fees affect the processing of my trades?
The size of the transaction fees changes depending on how busy the network is. When the number of transactions increases, the fees increase as well. Sometimes this can happen unexpectedly fast. Coinify always processes transactions with a network fee estimated to get them confirmed in a timely manner.
Keep in mind that even though a transaction might take longer to reach your wallet, the amount of coins quoted for buy trade, once they are processed on our end, will not be affected by the delays.