How are deposit and withdrawal fees charged?
Deposits do not require a fee, and the fee is paid by the withdrawal party, meaning you will incur a fee when withdrawing.
For example, when you withdraw digital assets from an A platform account, a withdrawal fee will be charged. However, if someone deposits digital assets into your account (or you deposit to your personal account), there is no fee for the receiving account.
Note: If the deposit amount is smaller than the minimum deposit amount shown on the deposit details page, it will result in a failure to receive the assets. Please ensure the deposit amount is greater than the minimum deposit amount. Currently, only certain cryptocurrencies support recovery. If you need to recover a deposit that has not arrived, you can contact customer service for assistance, but recovery will incur additional fees.
Withdrawal Fees
A fee will be charged when withdrawing, which is a miner's fee (Gas Fee) paid to the network miners, not to the platform.
For example, when you choose to withdraw assets on the Ethereum network, after the platform sends the assets, miners need to package your transaction and place it on the blockchain for the transaction to be completed. During this process, the blockchain's computational resources are consumed, so a fee is paid to the miners.
*The withdrawal fee cryptocurrency and specific fee amounts should be based on the page display.
Fee Collection Standards
The network fee fluctuates in real-time. Each withdrawal requires a network fee to be paid. A single transaction will only incur one fee, which is paid by the withdrawal party.
The system will automatically calculate the withdrawal fee and provide the actual amount to be received:
Actual received amount = withdrawal amount - withdrawal fee
The amount of fee paid will affect how quickly your transaction is packaged by miners and placed on the blockchain. It's important to note that the required fee for a transaction depends on its complexity. The more complex the transaction, the more computational resources it requires, meaning a higher fee.
How to modify the received amount
Since the fee deduction rule prioritizes deducting fees from the withdrawal amount, users can adjust the withdrawal amount on the withdrawal page by clicking on the "Modify received amount" function.
For example: if the user wants to withdraw 4U, with a fee of 1U, and they want to receive 4U, they can choose to modify the received amount.
The system will automatically adjust the withdrawal amount to 5U (4U to be received + 1U fee).
The actual withdrawal amount is 5U, and the received amount is 4U.
The higher the fee, the more motivated the miners are to package your transaction, shortening the withdrawal waiting time. Conversely, if the fee is set too low, it may take a longer time. If you want to complete a transaction quickly, you may consider selecting a higher fee.