Recently I used Paxful for the first time I had bought 0.00022665 BTC and then had sent them to my Electrum wallet. The whole amount have arrived to my private wallet successfully, so that means that Paxful didn't charge me with any fees. But when you use your private wallet such as Electrum you have to pay a large transaction fee just to get your transaction confirmed? How does it work? Why doesn't Paxful wallet have transaction fees for outgoing transactions?
1 Answer
Paxful has withdrawal fees, as any other exchange or Bitcoin service that I am aware of: sending bitcoin is costly, so it will be very unlikely that some company will send you btc without charging a fee.
This is from Paxful Fees webpage:
So Paxful charge you with 0,0004 btc if you withdraw more than 20$, which is usually more than you have to pay to send a standard transaction with Electrum.
As a side note I tell you that in the last few days Bitcoin network fees went crazy, a sharp hashrate reduction has created a long queue of pending transactions and sent commissions to the highest level for 3 years now; so right now you can pay more than 0,0004 btc but it's a very rare case as you can see at this historical chart: https://jochen-hoenicke.de/queue/#BTC,all,count
