Articles on: Withdrawals

How are the fees structured?

Withdrawal fees are set to securely cover and scale with the entire process of receiving deposits, migrating them to secure storage and processing the requested withdrawals made across our platform. There are numerous steps involved in this process which include but are not limited to:

Migrating funds from our hot wallet (funds on the server) to our offline cold wallets. This process can happen multiple times a day, and each migration carries a transaction fee.
If the funds being migrated from a hot wallet are ETH or ETH tokens and they do not have sufficient ETH to make a transaction, funds are sent to those addresses, which requires another transaction fee.
Migrating funds from different levels of our hot and cold wallets to ensure a geographically distributed offline storage network.
The development resources that go into integration for wallets and the maintenance to keep them securely running.
High-security clearance operation team in charge of overseeing and responding.
Finance teams for auditing, monitoring and work with government agencies when assisting with fraud or stolen funds.
Migrating funds from our cold wallets when our hot wallets need to be replenished
The final transaction fee to complete the users' withdrawal request in a timely manner.

We strive to do our best not to generate revenue through withdrawal fees, we only seek to cover our costs and provide a secure platform for our users. Thus, when you see our withdrawal fee on the withdraw page, all of these factors mentioned above are taken into account, not merely the fee you see that was paid to process the transaction on the network.

You may visit the CoinFalcon Fees page for the complete information about our fees.

Updated on: 06/04/2018

Was this article helpful?

Share your feedback


Thank you!