Send Bitcoin is there a fee?

Robert Alexander

• April 23, 2024 08:53

I don't send or buy much these days, but I want to send some Bitcoin to someone.
He's given me a long hash address, which is all fine, but I see fees attached to this now?
I thought it was free?
Maybe I need to choose or set up an additional wallet for this.
Can anyone help.  It doesn't matter if it takes a couple of days to get there BTW.

Robert

1

• Official comment

  

  Daniel Malara

  Community manager

  • August 16, 2024 20:36

  

  Hi Robert,

  Whenever creating an on-chain transaction, there will be a variable fee that gets paid directly to the miners or validators who are securing the blockchain. Edge makes no profit from these network fees.

  By contrast, other custodial platforms may have the option to send Bitcoin to someone else in their system for free, but this would only be possible because they can updated numbers on their website or app without creating any transactions on the blockchain. In these situations, you would be required to pay a fee to withdraw from their platform to another wallet. Edge is a true, self-custodial crypto application, so each transaction will be on-chain and require a small fee for the miners or validators to include your transaction on the blockchain.

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