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How to calculate the handling fee for withdrawing coins from Kushen cold wallet to the exchange
How to calculate the handling fee for withdrawing coins from Kushen cold wallet to the exchange
The handling fee required to withdraw coins from the Kushen cold wallet to the transaction includes the fees of the Kushen wallet and the exchange. Kushen wallet handling fees depend on the withdrawal network and coin type, while exchange handling fees are determined by the exchange. The total handling fee is the sum of the Kushen wallet handling fee and the exchange handling fee.
Calculation method of handling fee for withdrawing coins from Kushen cold wallet to the exchange
Using Kushen cold wallet to withdraw coins to the exchange When doing so, you need to pay the handling fees charged by Kushen Wallet and the exchange. The following are the steps to calculate the handling fee:
1. Kushen wallet handling fee
- Kushen wallet handling fee is related to the withdrawal network and coin type.
- Generally speaking, different networks have different handling fees. The Bitcoin network has higher handling fees, while other networks (such as ERC20) have lower handling fees.
- The Kushen Wallet website provides real-time fee estimates, which users can check before withdrawing coins.
2. Exchange fees
- Exchanges will also charge fees for withdrawals.
- Different exchanges have different handling fee standards. Users need to check the official website or announcement of the exchange.
- Generally speaking, exchange fees are also related to the withdrawal network and coin type.
3. Total handling fee
- The total handling fee for withdrawing coins from Kushen cold wallet to the exchange is equal to the handling fee of Kushen wallet plus Exchange fees.
- Users need to add these two fees to determine the actual total fee to be paid.
Example:
Suppose the user wants to withdraw 0.1 BTC from the Kushen cold wallet to the Binance exchange. Using the Bitcoin network, the Kushen wallet handling fee is 0.0005 BTC and the Binance handling fee is 0.0004 BTC.
- Kushen wallet handling fee: 0.0005 BTC
- Binance exchange handling fee: 0.0004 BTC
- Total handling fee: 0.0005 BTC 0.0004 BTC = 0.0009 BTC
Therefore, users need to pay a handling fee of 0.0009 BTC to withdraw 0.1 BTC from the Kushen cold wallet to the Binance exchange.
The above is the detailed content of How to calculate the handling fee for withdrawing coins from Kushen cold wallet to the exchange. For more information, please follow other related articles on the PHP Chinese website!
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