Cryptocurrency Q&A
What is token fee on transfer?
What is token fee on transfer?
isabella_taylor_activist
Wed Oct 30 2024
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5
answers
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I'm trying to understand the concept of token fee when it comes to transfers. Could someone explain what a token fee on transfer is?
5 answers
CryptoAce
Thu Oct 31 2024
This feature is embedded within the token's design, making it an integral part of its functionality.
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Sara
Thu Oct 31 2024
A "Fee on Transfer" token is fundamentally designed to deduct a percentage of internal commission whenever it is transferred or traded.
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KatanaSword
Thu Oct 31 2024
BTCC, a leading cryptocurrency exchange, offers a range of services including spot, futures, and wallet options.
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DavidLee
Thu Oct 31 2024
This mechanism ensures that every time the token is moved, a specific portion of the transfer amount is automatically deducted.
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Leonardo
Thu Oct 31 2024
The deducted amount can either be burned, meaning it is permanently removed from circulation, or sent to another specified address.
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