Swapping cryptocurrencies on SwapTrade involves understanding the fees that are associated with the process. This article elaborates on the fee structure, distinguishing between network fees and exchange fees.

Introduction to Swap Fees

Using the SwapTrade swap platform entails certain fees designed to cover operational costs and ensure a secure and efficient trading platform. The two primary fees encountered are: exchange fees and network fees.

1. Exchange Fees

Definition: Exchange fees represent the charges imposed by SwapTrade to facilitate the token swap service. This fee is calculated as a percentage of the total trade value. The usual amount is 1%.

Purpose: Such fees support SwapTrade’s infrastructure, fund continuous updates, and account for the risks associated with providing liquidity and processing trades instantaneously.

2. Network Fees

Definition: While commonly referred to as gas fees in the crypto ecosystem, on SwapTrade platform, the network fee is a predetermined fixed amount set by us. This fee is charged to cater to the blockchain network/gas fees.

Purpose: Network fees ensure that the transactions are processed and validated on the underlying blockchain. They compensate the miners or validators involved in confirming your transaction on the blockchain.

Features of Network Fees:

• Fixed Amount: Unlike dynamically fluctuating gas fees on certain platforms, the SwapTrade network fee is stable and predetermined by us, ensuring no surprises for our users.
• Coverage: This fee covers the charges imposed by blockchain networks to process and validate transactions.

Distinguishing Between Network Fees and Exchange Fees

• Point of Charge:
  • Exchange fees are a percentage deducted from the total swapped amount.
  • Network fees, set by SwapTrade, cater to the costs levied by the blockchain network.
• Variability:
  • Exchange fees on SwapTrade are set to 1% when the market is not extremely volatile.
  • Network fees on SwapTrade are fixed and predetermined.
• Purpose:
  • Exchange fees cover SwapTrade’s service provision.
  • Network fees cover blockchain transaction validation costs.

Conclusion

Grasping the fee structure on SwapTrade empowers users to make well-informed decisions and anticipate the costs for their swaps. Always check both the exchange fee and the network fee prior to finalizing a transaction.

For further details or questions about the SwapTrade fee structure, visit our Fees page, or kindly contact our support team.

(Note: Always ensure you’re updated on SwapTrade’s current fee structure before initiating a transaction.)