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I have one friend in Canada and i want to buy bitcoin from canada and get in to zebpay wallet in india. I had completed 100 Canadian dollar transition yesterday, but when he was buy 100 Canadian dollar in coinbase account using credit card. Then he had got 96.69 something. and When he was send me 9 Canadian dollar then 4.94 Canadian dollar charges and again send me 75 Canadian dollar then charge is 4.99 Canadian dollar.

So i want to know how to calculated fees and how can i pay minimum fees on bitcoin transfer to zebpay wallets.

What is fixed rate or variable rate in bitcoin transfer ?

Please tell me as soon as possible. Thanks in Advance.

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It is important to differentiate between mining fees paid to the Bitcoin Network and service fees charged by a middleman company such as Coinbase or Zebpay.

  • The Bitcoin network fees are market based (when demand goes up for space in the block, the fees will go higher) and are based on the amount of data in the transaction, not the amount being sent. A 0.1 BTC transaction can have higher fee than a 1000 BTC transaction for example.

  • The fees charged by payment processors, exchanges, etc are usually based on the amount sent. Coinbase used to be 1% for example. Normally receiving money is free, but sending or converting to/from fiat cost something. You need to check with the services you are using.

If you own the bitcoin keys (you are using a wallet like Electrum, Mycelium, Bitcoin Core, etc), then you only pay the network (miner) fees. If you are using a service like Coinbase, you may be charged a fixed fee by the service, and / or the network fee.

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