Bitcoin Fees Explained All You Need To Know About Bitcoin Transaction Fees
You’ll enjoy the lowest Bitcoin fees on the market when you trade this legendary crypto at Zeply. Take a look at our guide that explains why our average Bitcoin transaction fee is so low.
You’ll always have to pay Bitcoin fees to cover the network and transaction costs that keeps the cryptocurrency in operation. But we’ve worked hard to keep our cryptocurrency transaction fees down so that you get more for your trades on this legendary crypto. Take a look below to see why Zeply is such great value for Bitcoin trading.
What are the common Bitcoin fees?
The key thing to remember is that you’ll nearly always have to pay some kind of fees if you want to buy and sell Bitcoin. These cover all of the different aspects of a service that enables you to take advantage of all these that this cryptocurrency has to offer. At Zeply, we’ve worked hard to keep these Bitcoin fees down to a bare minimum. After all, nobody wants to have to use a Bitcoin fee estimator. Here are the fees that you’ll be up against:
Bitcoin transaction fees
This is the fee that is applied by Zeply for every time that you buy, sell or trade Bitcoin. You won’t need to use any kind of Bitcoin transaction fee chart to understand how these costs are applied. This is because we’ve made sure that each transaction fee Bitcoin users are faced with is fixed. As a result, you can plan ahead and know that Zeply have the lowest Bitcoin transaction fee costs on the market.
Bitcoin network fees
This is the cost that is used to pay miners for carrying out the complex calculations required to verify each transaction and add it to the blockchain. Remember that the network fees will rise and fall, but Zeply will always keep these costs to the bare minimum.
Why do you have to pay Bitcoin fees?
We realise that nobody wants to have to pay a Bitcoin transaction fee. But by paying a transaction and network fee Bitcoin will be able to continue its incredible rate of growth. Here is a quick reminder of why paying Bitcoin fees is actually a good thing.
Paying a Bitcoin transaction fee
These are the charges added by Zeply that allow you to buy and sell Bitcoin. Also known as an ‘exchange fee’, a Bitcoin transaction fee is essentially a kind of commission put in place to execute a buy or sell order for the cryptocurrency. We operate a fixed-fee cost format which means that you’ll always know what recommended Bitcoin fee you’ll be up against. When you pay transaction fee Bitcoin exchanges like ourselves are able to keep offering you a secure and easy way to buy and sell these cryptocurrencies. Don’t forget that Zeply currently has the most competitive Bitcoin transaction fee on the market.
Paying Bitcoin network fees
These fees go directly to the people who ‘mine’ each Bitcoin transaction. The fees act as a form of incentive that encourages the crypto miners to get their high-powered computers to crunch the numbers necessary to validate each transaction. Once validated, the transaction gets added to the Bitcoin blockchain. Again, we’ll do all we can to keep these network costs to a minimum.
How to keep your crypto fees under control
We would always recommend that you take the time to understand how fees are applied to your Bitcoin transactions. This is so that you can make informed decisions as to how much Bitcoin to buy and sell, as well as when you should carry out each transaction.
This is because the network fees of trading Bitcoin may rise or fall according to how quickly they are ‘mined’ and added to the blockchain. Simply put, Bitcoin transactions with higher fees will get processed faster than those with lower fees. The miners will set their own price for validating each transaction as it requires a huge amount of effort and computer processing power to add it to the blockchain.
By using the Zeply site, you’ll avoid having to pay unnecessarily high network fees. Plus you can be sure that your Bitcoin transaction gets processed in a swift and efficient manner. This is because we are able to offer you routinely competitive fees on all of your Bitcoin trades regardless of when you decide to buy and sell. All of which means that once you pay the Bitcoin recommended fee, you can plan for the next round of crypto trading.
Other Bitcoin fees that you might encounter
We realise that many newcomers to cryptocurrencies might not have realised that there are fees and costs to consider when buying and selling and Bitcoin. So we have made sure that you know what fees you’ll face at each stage of your Bitcoin journey. Here’s a quick overview of what you have to pay for and what you can do for free:
Setting up a free Zeply account
You won’t be charged a penny for registering an account at Zeply. The only thing that you need to do is to provide some personal information like your name, email address and so on. All of this is part of our know-your-customer procedure. This has been implemented to ensure your online safety when you buy and sell Bitcoin.
Get a free Zeply crypto wallet
We’re happy to give you free access to our Zeply wallet. This is where you’ll store your Bitcoin once you’ve added them to your account. Some crypto wallets may cost a fair amount of money, but not ours. As well as being free, our Zeply crypto wallet gives you high grade security courtesy of its two-factor authentication. So never settle for paying a Bitcoin wallet transaction fee, when you can keep your cryptos safe at Zeply for free.
Beyond this, you can be sure that we’ll work hard to make sure that there are no extra fees when you buy and sell Bitcoin. So while you might face a Bitcoin minimum transaction fee, you can be sure that even these are the most competitive on the market.
