Network Fees and Suggested Minimal Amounts to Exchange

 Dear Steemers!

We're Changelly, an instant cryptocurrency exchange, where you can buy or sell almost any amount of supported coins. We always strive to let our customers take the most advantage from cryptocurrencies. To get the smoothest experience with Changelly, it’s important to know about fees and currency fluctuations. This tiny article will help you to get to know exchange process better and accurately calculate the amount to exchange. Some of our users have faced to an issue when the amount they’ve sent after all fees taken becomes too low to be processed. As a result a transaction fails, the money is gone, and we cannot refund the amount due to the fees. To avoid a misunderstanding you should know about the fees, how and when they are taken.

Network fees

Network fees are fixed and taken each time wherever money are sent. Each currency has its strict amount taken for operations. This fee is taken when your money is included into a blockchain. Changelly doesn’t influence or regulates these fees.

Currency fluctuation

Every crypto rate rises and drops. The higher volatile a crypto is, the more it’ll affect the final rate, especially when you are going to convert a large amount. 

Changelly commission

There is no secret that Changelly charges 0.5% commission for each transaction. It’s charged after an exchange process is finished, but before your money are sent to a recipient’s address.

John’s case

Now, let’s get down to the case to make things clear. John wants to exchange 20 XMR to BTC. To do that, John goes to the homepage, types the amount he wants to exchange on the left and see the estimated BTC amount on the right (0.39 BTC), follows the instructions given and sends 20 XMR to the address provided by Changelly. 

In fact Changelly receives only 19.9 XMR from John. 0.1 XMR remained is called a network transaction fee. It is taken once your money is successfully sent to our wallet. In this case, the network fee is taken by the Monero blockchain.While waiting a payment confirmation (5-20 minutes), the rates may rise and drop. 

After we receive the payment, we exchange money instantly at the best rate at the given moment. As Monero’s rate has been risen, instead of 0.39 BTC, John gets 0.41 BTC.The process is finished, and now the exchanged money (0.41 BTC) should be sent to John’s wallet. This is the moment, when Changelly charges the commission 0,5%. After the commission taken, 0.40 BTC is the amount remained. 

While sending, the Bitcoin blockchain charges 0.0002 BTC for the transaction. After the confirmation (5-20 minutes), John will get 0.3998 BTC to his wallet.

To sum up

According to the fees, we’ve made a table of cryptocurrency network fees and a minimal amount suggested, so you can look it up and make sure that your money is enough to be exchanged. The rates were calculated according to an exchange to BTC, the network fees and possible fluctuation. These are approximate rates. It’s still highly recommended for you to calculate your amount first and include in it the network fee of the coin you want to exchange. 

Cryptocurrency name	Network fee	Suggested minimum amount
Aeon Coin	0.0001 AEON	4.5 AEON
Bitcoin	0.0002 BTC	0.0005 BTC
Bytecoin	0.01 BCN	3000 BCN
Dash	0.02 DASH	0.03 DASH
Dashcoin	0.001 DSH	150 DSH
DigitalNote	0.001 XDN	3000 XDN
Doge Coin	1 DOGE	2000 DOGE
Ethereum	0.00042 ETH	0.03 ETH
Ethereum Classic	0.00042 ETC	0.02 ETC
Expanse	0.00042 EXP	0.5 EXP
Factom	0.01 FCT	0.077 FCT
FantomCoin	0.00001 FCN	39 FCN
LBRY	0.01 LBC	2 LBC
Lisk	0.01 LSK	0.9 LSK
Litecoin	0.001 LTC	0.09 LTC
MaidSafeCoin	2 MAID	4 MAID
Monero	0.01 XRM	0.03 XRM
XEM (NEM)	6 XEM	33 XEM
Next	1 NXT	15 NXT
NuBits	0.01 NBT	0.4 NBT
QuazarCoin	0.005 QCN	40 QCN
Radium	0.0002 RADS	0.5 RADS
Ripple	0.000012 XRP	50 XRP
Steem	0 STEEM	0.3 STEEM
Steem Dollars	0 SBD	0.3 SBD
Stratis	0.1 STRAT	12 STRAT
Synereo	2 AMP	4 AMP

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