What are transaction charges?

Cryptocurrency transaction fees are small amounts paid to process a transaction, either for buying and selling crypto to currency, e.g. Ethereum-USD, or when swapping one crypto to another, e.g. Ethereum-Bitcoin.

As a Business, you can also get charged a fee to charge one of your customers to purchase your products using crypto.

LFG fee

LFG charge a fee to ensure we are able to provide the best app possible and continue its development now and in the future.

Furthermore, the fees charged by LFG also cover all the complex verifications and saftey checks we do on every single transaction, ensuring your funds are kept safe and clean at all times.

Blockchain fee

Depending on the crypto you are dealing with, and on which network, there are going to be fees applied by the network. These are not fees charged by LFG. Blockchain fees, that are not decided by LFG, can change mainly depending on:

• Network congestion - more transactions waiting to be processed typically increase network fees as other blockchain users want their transactions processed faster.

• Transaction complexity - transactions involving complex contracts or large amounts of data require more computational power and, thus, higher fees. This applies to LFG as we ensure that all transactions are from valid, verified sources.