<p>Whenever ownership of bitcoins is transferred by means of a transaction on the blockchain, this transaction takes up space in a block and therefore incurs a transaction fee. Essentially, each sender that requests confirmation of their transaction attaches a bid for blockchain space to their transaction which a miner can collect when they include the transaction in their block.</p>

<p>Since the Bitcoin exchange controls the funds when you withdraw to your own wallet, the Bitcoin exchange is the sender of the transaction and decides what fee to attach to the transaction. Additionally, a withdrawal from an exchange may incur a withdrawal fee depending on the specific exchange's policy. Please check the corresponding exchange's FAQ or user guidance for more information on their fee policies.</p>

CC BY-SA 3.0
2017-08-23T12:06:24.003Z
Recently I transferred some btc to Jax wallet... when I was trying to send the btc to somewhere I saw some minig fee. Here is the screenshot - http://imgur.com/rjNIGrY . I don't understand, I am not mining anything but there is mining fee for transferring btc!!
Tanzil Khan
CC BY-SA 3.0
2017-08-23T16:29:39.503Z
Mining fee is here to be understood as "transaction fee".
Murch
CC BY-SA 3.0
2017-08-15T16:42:03.890Z
So, if a miner want to withdraw crypto to his/her wallet then it will incur transaction fee, depending on the checks in the blocks and other factors.
Tanzil Khan
CC BY-SA 3.0
2017-08-15T16:53:32.110Z
I don't understand why you're suddenly asking about a "miner". Miners that generate new bitcoins don't incur a transaction fee. The newly created coins are part of the coinbase transaction which is mandatory in a block. Miners that receive coins from other sources are no different than other users.
Murch
CC BY-SA 3.0
2017-08-15T15:27:50.467Z
2017-08-15T15:27:50.467Z
Murch
<p>If I buy bitcoin from a exchange and later want to transfer to my wallet for storing purpose (e.g. Jaxx or other), how the transaction fee will be calculated? I thought I can buy some amount of BTC and transfer the equal amount of BTC to wallet. How this works?</p>

<p>Thanks</p>

CC BY-SA 3.0
2017-08-12T21:12:59.200Z
This depends solely on the exchange. They can forward the network transaction fees to the user or not, and they may have their own withdrawal fees or not. To learn more, see the exchange's policies or contact them.
Pieter Wuille
CC BY-SA 3.0
2017-08-13T04:19:13.807Z
So, the open source wallets only deduct mining fees. There is no fee for transferring them to wallet and storing them. Am I right?
Tanzil Khan
CC BY-SA 3.0
2017-08-13T04:59:59.180Z
That sounds like an independent question.
Pieter Wuille
CC BY-SA 3.0
2017-08-13T05:42:11.813Z
Sorry, I am new to cryptocurrency world. Trying to understand. Thanks
Tanzil Khan
<exchanges><transaction-fees><withdrawal><exchange-fees>
How transaction fees are calculated when buying from exchange and transferring to wallet?
Tanzil Khan
# How transaction fees are calculated when buying from exchange and transferring to wallet?

(Asked by: username_0 on 2017-08-12)

If I buy bitcoin from a exchange and later want to transfer to my wallet for storing purpose (e.g. Jaxx or other), how the transaction fee will be calculated? I thought I can buy some amount of BTC and transfer the equal amount of BTC to wallet. How this works?

Thanks

**Tags:** exchanges, transaction-fees, withdrawal, exchange-fees

> **Comments:**
> **username_1**: This depends solely on the exchange. They can forward the network transaction fees to the user or not, and they may have their own withdrawal fees or not. To learn more, see the exchange's policies or contact them.  
> **username_0**: So, the open source wallets only deduct mining fees. There is no fee for transferring them to wallet and storing them. Am I right?  
> **username_1**: That sounds like an independent question.  
> **username_0**: Sorry, I am new to cryptocurrency world. Trying to understand. Thanks  

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## 1 answers

### Answer by username_2 on 2017-08-15. Score: 0 | Accepted answer

Whenever ownership of bitcoins is transferred by means of a transaction on the blockchain, this transaction takes up space in a block and therefore incurs a transaction fee. Essentially, each sender that requests confirmation of their transaction attaches a bid for blockchain space to their transaction which a miner can collect when they include the transaction in their block.

Since the Bitcoin exchange controls the funds when you withdraw to your own wallet, the Bitcoin exchange is the sender of the transaction and decides what fee to attach to the transaction. Additionally, a withdrawal from an exchange may incur a withdrawal fee depending on the specific exchange's policy. Please check the corresponding exchange's FAQ or user guidance for more information on their fee policies.

> **Comments:**
> **username_0**: So, if a miner want to withdraw crypto to his/her wallet then it will incur transaction fee, depending on the checks in the blocks and other factors.  
> **username_2**: I don't understand why you're suddenly asking about a "miner". Miners that generate new bitcoins don't incur a transaction fee. The newly created coins are part of the coinbase transaction which is mandatory in a block. Miners that receive coins from other sources are no different than other users.  
> **username_0**: Recently I transferred some btc to Jax wallet... when I was trying to send the btc to somewhere I saw some minig fee. Here is the screenshot - http://imgur.com/rjNIGrY . I don't understand, I am not mining anything but there is mining fee for transferring btc!!  
> **username_2**: Mining fee is here to be understood as "transaction fee".  

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