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Adding money to your personal profile and verification Making purchases with the Wirex Card My financial records Fees and prices for Wirex X-tras Center for Assistance Personal > Payments > Cryptocurrency Payments > My blockchain transaction fee is excessively heavy. What is the reason for this? So, what do I do now? The European Economic Area (EEA) and the United Kingdom (UK) are the two regions that make up the Each transaction includes a blockchain fee for high-speed cryptocurrency transfers and exchanges. Although the cost is normally low, higher fees can be required to complete your transfer or swap. This article will clarify why this occurs and how to stop paying high blockchain fees in the future.
A. Network congestion, transaction confirmation times (affected by liquidity providers), and transaction size (as calculated in kilobytes; affected when converting crypto from multiple inputs such as faucet earnings or other micro-transactions) are all factors that influence blockchain fees.
A. Of course. Despite the fact that we have no control over the blockchain network’s blockchain capacity or average transaction fees, we still want to endorse small exchange amounts for the sake of our customers in countries where $10 transactions are common.
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Please keep in mind that your USDT-ERC20 address will only function with USDT from the Ethereum network. Furthermore, USDT coins from the Omni layer and USDT from the TRON network are only compatible with your USDT-Omni address and USDT-TRON address, respectively. If you send your USDT coins to an incompatible address, you risk losing your deposit.
Please keep in mind that your USDT-ERC20 address will only function with USDT from the Ethereum network. Furthermore, USDT coins from the Omni layer and USDT from the TRON network are only compatible with your USDT-Omni address and USDT-TRON address, respectively. If you send your USDT coins to an incompatible address, you risk losing your withdrawal.
A: Only your USDT-ERC20 address is compatible with your USDT coins from the Ethereum layer. Furthermore, USDT coins from the TRON network can only be sent to your USDT-TRON address, and USDT coins from the Omni layer can only be sent to your USDT-Omni address. If you send your USDT coins to an incompatible address, you risk losing your deposit.
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This is typically the case since your BTC wallet’s UTXO is complete (there are transactions not confirmed). You must wait for the previous transaction to complete before starting a new one.
The transaction confirmation parameters of Omni USDT are identical to those of Bitcoin, with each block confirmation taking 10 minutes. When transferring to the Exchange, you must normally wait for two block confirmations (i.e. about 20 minutes). The miner fee for Omni USDT is also higher than for ERC20 USDT and TRC20 USDT.
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Note: For free withdrawals, we reserve the right to charge a withdrawal fee of up to 0.10 percent if a user’s fiat/stablecoin deposit/withdrawal volume exceeds their trading volume. Before implementing this, we will notify any users who are affected.
The chain on which a crypto deposit is sent is crucial. If deposits are sent to the wrong chain, we will try to reclaim them, but there will be an automatic 5% fee for chains where we have recovery systems; for other chains, we will not be able to credit.