Different types of Bitcoin fees

When using Bitcoin or other cryptocurrencies, there are two types of fees that you will see:

1) Conversion Fees. For converting US dollars to Bitcoin, or Bitcoin back to US dollars, your exchange wallet will charge a small percentage (typically 1% - 3%). 

  • On deposits of $100 or more, Galaxy will reimburse those fees for you. For more details on claiming your fees, please see the article HERE.
  • On withdrawals, those fees will not be reimbursed.

2) Mining Fees. When Bitcoin is transferred from sender to receiver, there are fees known as mining fees. This is basically a payment awarded to the miners who handle confirming Bitcoin transactions. The mining fees are your responsibility to cover, however, this is almost a non-factor as those fees are less than $1 on most transactions, no matter how much is being sent.

If you have any other questions, feel free to contact our dedicated Bitcoin team anytime on Live Chat.

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