Below are step-by-step instructions on how to set transaction fees 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 your account
First, make sure you have an active Multibit account. Log in to your account using the credentials on the website or mobile app.
Go to Settings
Once you are logged in, go to the “Settings” option. You can find it under the “Account” tab of your profile.
Step 2. Find the Transaction Fee option
In the settings menu, you will see several options that cover different aspects of your account and trading experience. Look for the “Custom Fees” or “Fees Calculator” section where you can set 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
: Specify how much you want to spend or receive in the transaction.
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Min/Max: Specify whether the amount should be a minimum, maximum, or any value.
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Unit: Choose whether the fee is set per unit (e.g. coins) or in fiat currency units.
Step 3: Enter your transaction details
Enter the desired transaction details in the Fee Calculator section:
- Amount: The amount you want to trade in the specified base and pair currencies.
- Base Currency: The base currency of your transaction (e.g. ETH, BTC).
- Currency Pair: Select the cryptocurrency pair you want to use (e.g. ETH/BTC).
Step 4. Calculate Custom Fees
Once you have entered the required information, click “Calculate” or press Enter to see the calculated custom fees.
Viewing Transaction Fee Options
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Transaction Fees: You should be able to see the transaction fee options in the Multibit settings. It will show you a fee calculation based on the parameters you entered.
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Change Fee: You may need to click the “Change Fee” (or similar) option in the fee calculator to adjust other aspects such as the change fee or other additional fees.
Step 5: Save on Transaction Fees
Make sure you can save on custom transaction fees. If they are not showing up in your settings as expected, check your Multibit system for typos or incorrect settings.
Troubleshooting
If none of these steps help, there may be an issue with your account or settings. You can contact Multibit support directly for assistance or, as a last resort, look for help in online forums and communities.
