When processing a withdrawal from Swyftx, for the crypto transaction to process, it is important to note that you will incur a "mining" or "network" fee. This fee is not charged by Swyftx, but rather a fee charged by the network and is paid to the Cryptocurrency network's miners who process the transactions.
This fee differs from currency to currency as it depends upon the particular network being used as to what the Network Fee will be. When executing a withdrawal this fee will be outlined on the withdrawal page of the asset that you are looking to withdraw. Furthermore, this fee may differ from time to time as some transaction fees are not set and may depend upon the size of the withdrawal being made, the congestion on the network at the time and the network being used.
All mining fees charged will be disclosed at the time of your withdrawal and we do not charge any additional fees to this in order to facilitate the withdrawal. As seen below, these ones will be displayed on the withdrawal slip you must complete in order to execute a withdrawal on the platform.
Typically these transactions can take between 30 minutes to an hour but as crypto begins to gain broader uses in applications such as online and in person purchases, decentralized finance, and other projects, networks are now busier which can lead to longer wait times and higher fees incurred as users compete to get their transactions sent and confirmed via the respective network.
Please see here for more information on how long these ones may take and why.
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