The hot wallet in the currency circle mentioned that the cold wallet requires fuel fees?

Yes, transfers between hot wallets and cold wallets require payment of network gas fees, which are used to pay for the operation and maintenance of the blockchain network. The amount of gas fees depends on network congestion and transaction fees, and can be divided into external gas fees (manual payment by users) and internal gas fees (automatically reserved for hot wallets).

Does the hot wallet mention that the cold wallet requires gas fees?

Answer: Yes

Details:

Transfers between hot wallets and cold wallets require network gas fees. The gas fee is the cost of operating and maintaining the blockchain network and is paid by the user.

Hot wallets are internet-connected wallets that allow access to funds anytime, anywhere. However, due to the network connection, hot wallets are vulnerable to cyber attacks.

Cold wallet is a device that stores crypto assets offline and is not connected to the Internet. Cold wallets are more secure, but transferring funds requires access to a hot wallet and payment of gas fees.

The amount of gas fee depends on network congestion and transaction fees. Taking the Ethereum network as an example, fuel fees are billed in "gas" units, and gas prices fluctuate with network demand.

How to pay gas fee

• External fuel fee: Users need to pay the gas fee manually when transferring money.
• Internal gas fee: The hot wallet will automatically reserve a portion of funds as gas fee before transfer, without the need for users to pay manually.

Note:

• The fuel fee is paid by the transfer originator.
• Fuel fee is non-refundable.
• Gas price will change with the fluctuations of the crypto asset market.

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