Cryptocurrency Q&A
What is the protocol fee for Immutable?
What is the protocol fee for Immutable?
Stardust
Fri Sep 06 2024
|
5 answers
1274
Could you please clarify for me what the protocol fee is specifically for Immutable? I'm interested in understanding how much it costs to utilize the platform and if there are any associated costs or fees that users need to be aware of when interacting with the Immutable network. Additionally, is this fee subject to change, and if so, what factors might influence any potential changes? Thank you for your time and assistance in helping me better understand the costs associated with using Immutable.
5 answers
GeishaCharming
Sun Sep 08 2024
Immutable, a prominent platform in the realm of cryptocurrency transactions, imposes a standardized fee structure that ensures consistency across all trades. At the CORE of this structure lies a fixed protocol fee of 2% on every transaction executed on the platform.
Was this helpful?
342
33
Elena
Sat Sep 07 2024
This fee is seamlessly integrated into the buying process, where it is appended to the sale price and subsequently borne by the purchaser. This approach simplifies the transaction experience for users, eliminating the need for manual fee calculations or additional payment steps.
Was this helpful?
333
90
Alessandra
Sat Sep 07 2024
To illustrate, let's consider a hypothetical scenario where a user desires to acquire an NFT (Non-Fungible Token) priced at 1 ETH. In adherence to Immutable's fee policy, the buyer will not be required to pay an additional amount separately; instead, the 2% fee is automatically factored into the total cost.
Was this helpful?
356
27
JessicaMiller
Sat Sep 07 2024
As a result, the final amount payable by the buyer would be 1.02 ETH, with the additional 0.02 ETH representing the protocol fee charged by Immutable. This transparent and streamlined fee mechanism fosters trust and convenience among users.
Was this helpful?
117
82
GeishaMelodious
Sat Sep 07 2024
Among the diverse services available in the cryptocurrency landscape, BTCC stands out as a premier exchange offering a comprehensive suite of solutions. BTCC's extensive portfolio encompasses spot trading, enabling users to buy and sell cryptocurrencies at prevailing market prices, as well as futures trading, which allows for speculation on future price movements.
Was this helpful?
126
84
