This article explains how withdrawal fees work on the Peoples Reserve platform. Understanding these fees can help you plan withdrawals more effectively and avoid unexpected costs.
Overview of Withdrawal Fees
Withdrawal fees cover the costs associated with processing transactions and, where applicable, executing transfers on blockchain networks.
Fees may vary depending on the asset, network conditions, and the withdrawal method selected.
Network (Blockchain) Fees
Network fees are paid directly to blockchain networks and are required to process on-chain transactions.
- Fees vary based on network congestion
- Different blockchains have different fee structures
- Fees are not controlled by Peoples Reserve
Platform Withdrawal Fees
In addition to network fees, Peoples Reserve may apply platform-level withdrawal fees for certain assets or services.
- Platform fees help cover operational and security costs
- Fees may vary by asset type or withdrawal method
- Some users may qualify for reduced fees based on Loyalty Level
Where You See Withdrawal Fees
All applicable withdrawal fees are displayed before you confirm a withdrawal.
- Network fees are shown at the time of withdrawal
- Platform fees are clearly itemized when applicable
- The final amount you receive is shown before submission
Are Withdrawal Fees Refundable?
Withdrawal fees are generally non-refundable once a transaction is submitted.
- Network fees cannot be recovered after broadcast
- Platform fees are not refunded for completed withdrawals
How to Minimize Withdrawal Fees
While some fees are unavoidable, you may be able to reduce costs by:
- Withdrawing during periods of lower network congestion
- Consolidating multiple small withdrawals into one
- Maintaining a higher Loyalty Level if eligible