What is the transaction fee or miner fee?

The transaction fee is, depending on the blockchain, voluntary. It is paid to the miners, who secure the network and process transactions into new blocks.

Bitpanda sets the fees for cryptocurrency withdrawals automatically so that a transaction is confirmed early but does not overpay. To ensure that, Bitpanda dynamically adjusts the fee depending on the congestion on the network.

In Addition to that, we are using different techniques where possible, such as Segregated Witness and transaction batching to further reduce fees for our users.

To resolve this issue we are now offering the feature of sending cryptocurrencies to other Bitpanda users for free. You just have to enter the account's email address as the destination and the cryptocurrencies will be credited to the user's wallet.

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