🌐 What are Network fees?
Network fees (also called miner fees) are mandatory fees to process transactions or other crypto interactions.
They are paid to a cryptocurrency network (such as Bitcoin or Ethereum).
Those fees depend on the current state of the network.
👉 Network fees are never paid to Spot.
⏳ When a lot of people are sending & trading the same crypto at the same time, network fees can be very high and transactions can also take more time than usual to arrive.
💸 Network fees when sending crypto
When sending your crypto, Network fees are applied as the crypto leaves your wallet and the transaction needs to be processed on a cryptocurrency network (also called "blockchain network") such as Bitcoin or Ethereum.
When sending crypto, you will be able to adjust those Network fees and choose between ⚡️ Express (faster but more expensive) and 🚲 Eco mode (slower but cheaper). The Network fees you will pay are displayed before you send.