What Is the Miner Fee?

Miner fees (AKA network fee), commonly known as transfer fees as an incentive for miners to mine.

Among EVM compatible chains, miner fees are determined by the Gas Price (unit price) and the Gas Limit (amount) consumed. The calculation formula is: Transfer fee/Gas fee/Miner fee = Gas Limit * Gas Price

The amount of Gas Limit is mainly affected by the complexity of the operation based on the content of the smart contract. The more complex the operation, the higher the Gas Limit.

The Gas Price is set by the sender. The higher the Gas Price set by the sender, the faster the transaction initiated by the sender can be confirmed in the blockchain.

Notes: The network fee for Ethereum is ETH; The network fee for BNBChain is BNB; The network fee for TRON is TRX; The network fee for Solana is SOL; The network fee for Polygon is MATIC; The network fee for OKExChain is OKT; The network fee for HECO is HT;

Gas can be returned if it is not used up.

The miner fee (network fee) charged by the transfer network will vary according to the network conditions. Once the transfer is confirmed, the miner fee (network fee) cannot be refunded regardless of whether the transfer is successful or not.

The miner fee is charged by the transfer network you choose, and TokenPocket does not charge any fees!

Watch the video to learn more about transfers and miner fees!