Two things surprise people on their first Bitcoin withdrawal: a network fee, and a short wait for "confirmations." Both are normal parts of how Bitcoin works. Here is the simple version.
What the fee pays for
Bitcoin transactions are processed by a global network of miners. A small fee compensates them for including your transaction in the next block. The fee does not go to the reward platform. It is the cost of moving Bitcoin across the network itself.
Fees rise and fall with how busy the network is. When lots of people are transacting at once, fees go up; during quiet periods, they drop.
What confirmations mean
After your transaction is sent, the network adds it to a block. Each new block built on top of it is one "confirmation." More confirmations means the transaction is more firmly settled and effectively irreversible.
- Zero confirmations: sent, waiting to be included in a block.
- One confirmation: included in a block. Usually enough for small amounts.
- Several confirmations: fully settled, the standard for larger transfers.
Curious why fees move so much? The same forces apply across crypto. See why network fees can change.
Cash out to Bitcoin
Now that fees and confirmations make sense, request your BTC withdrawal and watch it confirm.
