how to pay network fees on trust wallet

Network fees, which fluctuate based on network activity, are transaction charges paid to validators for processing and securing transactions on a blockchain.

Nov 03, 2024 at 02:32 am

How to Pay Network Fees on Trust Wallet

Step 1: Understanding Network Fees

Network fees are transaction charges paid to validators for processing and securing transactions on a blockchain. These fees vary depending on the network load and the type of transaction.

Step 2: Locate Your Balance

Open the Trust Wallet app and tap on the "Assets" tab. Select the cryptocurrency you want to send or interact with. Here, you will see your current balance and the estimated network fee for a transaction.

Step 3: Set the Transaction Amount

Enter the amount you wish to send or interact with. The network fee will automatically adjust based on the amount and the specified speed (fast, regular, or slow).

Step 4: Choose Network Fee Speed

Trust Wallet offers three network fee speeds:

• Fast: Transactions process within minutes. Higher fee.
• Regular: Transactions process within a few hours. Default fee.
• Slow: Transactions process within several hours or days. Lowest fee.

Step 5: Approve the Transaction

After setting the amount and fee speed, tap on the "Review Transaction" button. It will display the transaction details, including the network fee. To confirm the transaction, tap on the "Send" or "Confirm" button.

Step 6: Track Your Transaction

Once you approve the transaction, you can track its status in the "Transaction History" section of Trust Wallet. The network fee will be deducted from your cryptocurrency balance when the transaction is processed.

Note:

• Network fees can fluctuate based on network activity.
• If you send a transaction with an insufficient network fee, it may be delayed or even rejected.
• Considering the potential impact of network fees, it's recommended to set them appropriately to avoid transaction delays or cancellations.