Here is a step-by-step guide on how to set a transaction fee on Multibit:
Setting a Transaction Fee on Multibit
Multibit is a popular cryptocurrency exchange that allows users to buy, sell, and trade various cryptocurrencies. One of its key features is the ability to set custom transaction fees for transactions.
Step 1: Open an Account
First, make sure you have an active Multibit account. Log in to your account using the credentials provided on the website or mobile app.
Go to Settings
Once you are logged in, go to the “Settings” option. You can find this under the “Account” tab of your profile.
Step 2: Find the Transaction Fee Option
In the Settings menu, you will see various options covering various aspects of your account and trading experience. Look for the “Custom Fees” or “Fee Calculator” section as it relates to setting transaction fees.
Setting Custom Transaction Fees
In this section, you can calculate custom fees based on various factors, such as:
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Base Currency: Set the base currency for your transactions.
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Currency Pair: Specify which cryptocurrency pair you want to use to calculate the transaction fee.
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Amount: Set how much you want to spend or receive per transaction.
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Min/Max
: Set whether the amount should be a minimum, maximum, or any value.
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Unit: Choose whether the fee should be set per unit (e.g., per coin) or in fiat currency units.
Step 3: Enter the transaction details
In the Fee Calculator section, enter the desired transaction details:
- Amount: The amount you want to trade in the specified base and pair currencies.
- Base Currency: The base currency for your transactions (e.g., ETH, BTC).
- Currency Pair: Select the cryptocurrency pair you want to use (e.g. ETH/BTC).
Step 4: Calculate Custom Fees
After entering the required details, click “Calculate” or press “Enter” to see the individual fees calculated.
Viewing Transaction Fee Options
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Transaction Fee: You should see the transaction fee options in Multibit settings. This will show you the fee calculation based on the parameters you specified.
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Exchange Fee: You may also need to click the “Change Fee” option (or similar) in the fee calculator if you want to adjust other aspects such as the exchange fee or any additional fees.
Step 5: Save on Transaction Fees
Make sure you can save on custom transaction fees. If they don’t appear in your settings as you expected, check for a typo or incorrect Multibit system settings.
Troubleshooting
If none of these steps help, it is possible that the problem is with how you have configured your account or settings. You can contact Multibit support directly for assistance, or as a last resort, search for help in online forums and communities.