Network Fees (Blockchain Fees)
Network Fees (Blockchain Fees)
Bitcoin (BTC): Depends on network congestion; higher fees equal faster confirmation.
Ethereum (ETH) & ERC-20 tokens: Gas fees fluctuate with demand, often high during peak times.
Litecoin, Bitcoin Cash, and others: Lower fees but still affected by network traffic.
Dynamic Fees
Dynamic Fees
Users can often select fee levels (Low/Medium/High) within Coinbase Wallet. However, a "Low Fee" selection it's cheaper and the confirmation is slower, while a "High Fee" selection is faster but more costly.
Network Comparison
Network Comparison
Here’s how fees usually compare by blockchain network:
Blockchain Network | Details |
Ethereum (ERC-20) | Highest costs, especially during congestion. |
Solana (SOL) | Low fees and fast confirmations; supports USDC. |
Polygon (MATIC) | Cheaper option for tokens like USDC. |
Binance Smart Chain (BSC) | Lower fees for BUSD, USDT, etc. |
Avalanche (AVAX) | Generally low transaction costs. |
Optimism & Arbitrum (Ethereum Layer 2) | Lower gas fees with Ethereum’s security. |
QUICK TIP:
Choosing Solana, Polygon, or Layer 2 networks often saves significantly compared to ERC-20. However, you should always verify that the network matches the destination wallet before sending. For the latest updates, always check Coinbase's Official Fee Schedule.
FAQs
Q: Does Coinbase Wallet charge its own withdrawal fees?
A: No. Only the blockchain network fee (Gas fee) applies.
Q: How do I check fees before sending?
A: The app shows a fee preview before you confirm your transaction.
Q: Which networks are the cheapest?
A: Solana, Polygon, Avalanche, and Ethereum Layer 2 (Optimism, Arbitrum) are usually much cheaper than ERC-20.