How to calculate Coldlar cold wallet handling fee

How to calculate Coldlar cold wallet handling fee

Coldlar cold wallet handling fee calculation is more complicated and mainly depends on the following factors:

1. Transaction Types

Coldlar cold wallet supports multiple transaction types, including withdrawals, deposits, internal transfers and exchanges, and the fees for each transaction type are different.

• Withdrawal (sent to external address): GAS price x 21,000
• Deposit (received from external address): GAS price x 21,000
• Internal transfer (transfer between addresses within wallet): Free
• Exchange (using Bancor protocol): 0.3% - 1%

2. GAS price

GAS price refers to the transaction fee on the Ethereum network, which will fluctuate with the degree of network congestion. The higher the GAS price, the higher the transaction fees.

3. Transaction amount

For withdrawal and deposit transactions, the handling fee has nothing to do with the transaction amount. But for exchange transactions, a handling fee of 0.3% - 1% will be deducted from the exchange amount.

Example Calculation

Suppose you want to withdraw 1 ETH from Coldlar cold wallet to an external address and the current GAS price is 50 Gwei. The handling fee is calculated as follows:

取款手续费 = GAS 价格 x 21,000
= 50 Gwei x 21,000
= 0.00105 ETH

Therefore, the handling fee for withdrawing 1 ETH is 0.00105 ETH.

Note:

• Coldlar cold wallet will not charge handling fees directly, the handling fees will be paid to the miners of the Ethereum network.
• The handling fee can be previewed before the transaction is confirmed to ensure that you are aware of the fee before initiating a transaction.
• As the GAS price changes, the handling fee will be adjusted accordingly.

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