how to pay network fee on atomic wallet

Paying network fees on Atomic Wallet empowers users to control transaction processing speed, prioritizing their urgent transfers or optimizing costs during market downturns.

Nov 05, 2024 at 05:30 pm

How to Pay Network Fees on Atomic Wallet

Atomic Wallet, a popular cryptocurrency wallet, allows users to store, send, and receive various cryptocurrencies. Transactions on blockchain networks typically require users to pay network fees to facilitate processing and verification. This article provides a step-by-step guide on how to pay network fees on Atomic Wallet.

1. Open Atomic Wallet

On your preferred device, launch Atomic Wallet. Ensure the wallet is up-to-date with the latest version for optimal performance and security.

2. Select Currency

Choose the cryptocurrency you wish to use. Atomic Wallet supports a wide range of tokens and coins, each with its associated network fee.

3. Enter Transaction Details

Enter the recipient's address, the amount you wish to transfer, along with any optional notes.

4. Adjust Network Fee

Atomic Wallet offers different network fee options:

• Normal: Default fee for standard transaction times.
• Fast: Higher fee for expedited transaction processing.
• Custom: Manually adjust the network fee to your preference (if available for the selected cryptocurrency).

Select the appropriate fee option based on your urgency and willingness to pay the fee. Lower fees may result in slower transaction times, while higher fees prioritize your transaction. Custom fees allow for fine-tuning the desired processing speed.

5. Confirm Transaction

Review the transaction details and the associated network fee. If everything is correct, click the "Send" button to initiate the transaction.

6. Check Transaction Status

Once the transaction is initiated, you can track its progress in the "History" tab of Atomic Wallet. The transaction status will be updated once it has been processed by the network.

Additional Tips

• Use lower fees during market downturns: During periods of low transaction volume, fees tend to be lower.
• Estimate fees beforehand: Some websites and tools allow you to estimate network fees based on the chosen currency and congestion levels.
• Consider transaction size: Larger transactions usually have higher network fees.
• Avoid peak times: Network fees are typically higher during peak hours due to increased transaction volume.
• Utilize Lightning Network: If available for the cryptocurrency you're sending, Lightning Network can significantly reduce transaction costs.

By following these steps, you can pay network fees on Atomic Wallet and ensure your transactions proceed smoothly and efficiently.