There are two key types of fees you may encounter whilst using your Jiggle wallet and it is important to be able to distinguish between the two! It is also critical to your understanding of these fees to know that the Jiggle wallet charges zero fees. Jiggle is simply a self-custody wallet that allows user to securely store and manage their crypto.

The first type of fees you may encounter are know as ‘Exchange Fees’. These are fees that are charged for buying and selling crypto. These are charged by our exchange partner Waltzer, who are easily integrated onto our app to make the process of buying or selling crypto as seamless as possible.

At Jiggle we are all about transparency with our users so you will always be able to see our partners fees before buying or selling your crypto.

In order to be considered a successful and valid transfer, every cryptocurrency transaction must be added and confirmed on the blockchain. This vital work is performed by what are known as miners or validators. This ongoing process of validating and confirming transactions that are initiated onto a blockchain is what allows a network to function. In return, these miners are financially rewarded with what is known as a ‘Network fee’, ‘Mining fee’ or ‘Gas fee’. These terms are often used interchangeably to refer to the amount of cryptocurrency you pay to have a transaction confirmed on a blockchain network.

These fees can vary based on factors like the selected cryptocurrency, network activity and the size of the transaction. During high demand, fees can rise due to user competition for swift processing. As a general rule, transactions sent with a higher fee will generally confirm more quickly than those with lower fees.

Jiggle will automatically calculate the appropriate fee for sending your chosen cryptocurrency. The default fee set in Jiggle should take an estimated 15 minutes for a transaction to reach its first confirmation, but this can vary as network activity changes.

If you want to monitor the average transaction fees for a network, there are third party providers that can provide you with this information. For example, you can see this information for the Bitcoin network Here.

With Jiggle you can select your desired speed of transaction and the network fee will change accordingly.

If you are looking for fast transactions, we would recommend selecting ‘Fast’. Whilst this will cause increase the transaction fee, it will result in miners prioritising your transaction, and should confirm your transaction in an estimated 5 minutes.

In Jiggle we also offer the ability to set a Manual fee, where you can specify a custom fee. We only recommend this as an option to experienced users with a clear understanding of crypto transaction fees. Please be aware that if too low a transaction fee is selected, transactions can take days to complete, and in some cases may never be confirmed.

It is also important to keep in mind that if one currency is experiencing congestion and high fees, that may not be the case for other currencies and networks. For example, if Bitcoin is experiencing high congestion, a currency like Litecoin has traditionally low average transaction fees (averaging just a couple of cents) and fast transactions (2.5-minute block time) may be a valid alternative.

Got more questions? Reach out to our agents via our live chat. Alternatively, contact us in the Jiggle app or send us an email at [email protected]. Whatever you chose, our agents are available 24/7 and will be able to assist you!

Jiggle is not affiliated with any third-party platforms, external links, or any other third-party resources mentioned in this article. As such, Jiggle cannot guarantee the performance of third-party products or services, or that the steps shown and the information provided will always be accurate.