What are Crypto Withdrawal Fees?
When crypto assets are transferred to an external address on a proof of work blockchain, a fee is usually charged to reward miners for executing the transaction on the respective blockchain network.
Similarly, when crypto assets are transferred to an external address on a proof of stake blockchain, a fee is usually charged to reward validators for verifying the transaction on the respective blockchain network.
Paxos passes through the market “network” fee to the customer when transferring digital assets to an external wallet address. The withdrawal fee will be an estimate of the native crypto network fee. This fee will be charged to you as the token being withdrawn and will automatically deduct from your total transfer amount.
Please ensure you have enough additional funds in the crypto asset you are withdrawing to cover the market "network' fee. Your withdrawal fee will always be visible to you when you are placing your transfer request.
The Paxos wallet supports the following digital assets for withdrawals:
- Aave (AAVE)*
- Bitcoin (BTC)
- *Bitcoin Cash (BCH)
- Ethereum (ETH)
- Link (LINK)
- Litecoin (LTC)
- Matic (MATIC)**
- Solana (SOL)
- Uni (UNI)
*The AAVE token requires higher on-chain gas fees than other ERC-20 tokens.
**Regarding token withdrawals for Polygon Matic (MATIC) token, we will not be supporting Matic Mainnet withdrawals. Paxos will only support withdrawals of the ERC-20 MATIC token on Ethereum mainnet.