A network fee is a fee paid when transferring Bitcoin between wallets.
This fee is not charged by Littlebit. It is charged by the Bitcoin network (the blockchain). and ensures that your transaction is processed and confirmed by miners who maintain the network.
The amount of the network fee changes depending on current network activity:
When there are fewer transactions on the network, the fee is usually lower.
When network activity is higher, the fee may increase, as transactions with higher fees are confirmed sooner.
The network fee is always displayed when initiating a withdrawal in the Littlebit app. It is deducted from the amount you are sending, so you can clearly see how much Bitcoin will arrive in your wallet.
Littlebit does not earn any profit from the network fee. The entire fee goes to miners on the Bitcoin network.
If you would like more information about the network fee, please contact us here. We will be happy to explain everything clearly.
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