Transaction fees
1. How Does CoinWind Charge Gas Fees?
CoinWind does not charge transaction fees for asset deposits and withdrawals. The gas fee paid by users is the actual amount consumed on the chain, where they are not required to pay repeatedly for reinvestments.
The gas fee for HECO is rather low (normally less than 1 HT). For BSC, the fee is no more than 0.0008 BNB for depositing and 0.0015 BNB for withdrawal (the equivalent USDT quantity is subject to the real-time price), where the actual GAS fee amount may vary in actual transactions. Overall, 70% to 80% chance of gas fee stands around $4.5 for mining fee. The situation is similar on ETH but to know more details, please refer to asPrice and GasLimit.
a) If you are trading on the HECO chain, you need to prepare a small amount of HT in your wallet in advance to use it as gas fees for the transaction. Generally, you need to prepare 1-2 HT in the wallet.
b) If you are trading on the BSC chain, you need to prepare a small amount of BNB in your wallet in advance to use it as gas fees for the transaction. Generally, you need to prepare 1-2 BNB in your wallet.
c) If you are trading on the ETH chain, you need to prepare a small amount of ETH in your wallet in advance to use it as gas fees for the transaction. Generally, you need to prepare 1-2 ETH in your wallet.
2. Why is there a difference in the transaction fee?
The transaction fee shown on CoinWind is the highest possible quantity, where the actual volume is recorded in the blockchain browser. Take BSC chain as an example: To deposit tokens on BSC, you are required to have 0.0008 BNB and 0.00015 BNB for token withdrawal (the equivalent USDT quantity is subject to the real-time price), where the actual GAS fee amount may vary in actual transactions. Overall, 70% to 80% chance of gas fee stands around 0.00075 BNB for mining fee. The situation is similar on ETH.
The contract used for Vault is more complicated than Swap. Specifically, it involves complex calculations such as simple interests, compound interests etc. The larger the contract calculation, the higher the gas fee.
The calculation on BSC and ETH is as complicated as HECO. However, as the BSC and ETH chains get more crowded, the GAS fees for BNB and ETH will have a higher unit price. Thus, the transaction fees on BSC and ETH will eventually be higher than HECO.
3. Why is the transaction fee displayed so high?
CoinWind displays the highest possible gas fee to ensure that the user can complete the transaction successfully at the first try.
If the gas fee set is too low, it may cause multiple failed attempts which can then lead to more unnecessary losses.
The actual gas fee will be lower than displayed.
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