Are there any fees associated with using a non-custodial crypto wallet?

3 answers

• Mar 19, 2022 · 3 years ago
  Yes, there can be fees associated with using a non-custodial crypto wallet. These fees can vary depending on the wallet provider and the specific features offered. Some wallets may charge transaction fees for sending or receiving cryptocurrencies. These fees are usually paid to the miners who validate and process the transactions on the blockchain. Additionally, some wallets may have maintenance fees or subscription fees for accessing advanced features or services. It's important to research and compare different wallet options to understand the fees involved.
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• Mar 19, 2022 · 3 years ago
  Using a non-custodial crypto wallet doesn't necessarily mean you won't encounter any fees. While these wallets give you full control over your funds and eliminate the need for a third-party custodian, there can still be transaction fees involved. These fees are typically paid to the network for processing and confirming your transactions. The exact amount of fees can vary depending on network congestion and the size of your transaction. It's always a good idea to check the fee structure of the wallet you're using to understand any potential costs.
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• Mar 19, 2022 · 3 years ago
  As a representative of BYDFi, I can confirm that our non-custodial crypto wallet does not charge any fees for basic transactions. However, please note that there may be network fees associated with using the blockchain, which are not controlled by our wallet. These fees are paid to the miners for processing transactions on the blockchain. We strive to provide a user-friendly and cost-effective solution for managing your cryptocurrencies without any additional fees.
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