The transaction fee is, depending on the blockchain, voluntary. It is paid to the miners who secure the network and process transactions for new blocks. Learn more about transaction fees at our Bitpanda Academy.
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 this, we are using different techniques where possible, such as Segregated Witness and transaction batching to further reduce fees for our users.
