Ethereum: How to set the transaction fee in Multibit?

Here is a step-by-step guide on how to set up the transaction fee on Multibit:

Setting up the transaction fee on Multibit

Multibit is a popular cryptocurrency exchange that allows users to buy, sell, and trade various cryptocurrencies. One of its key features is the ability to set custom transaction fees for transactions.

Step 1: Open your account

First, make sure you have an active Multibit account. Log in to your account using the credentials provided on the website or mobile app.

Go to Settings

Once you’re logged in, go to the “Settings” option. This can be found under the “Account” tab within your profile.

Step 2: Find the transaction fee option

Within the settings menu, you’ll see different options that cover various aspects of your account and trading experience. Look for the “Custom Fees” or “Fee Calculator” section when it comes to setting up transaction fees.

Custom Transaction Fee Settings

In this section, you can calculate custom fees based on a variety of factors, such as:

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Base Currency: Set the base currency for your transactions.

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Currency Pair: Specify which cryptocurrency pair you want to use for the transaction fee calculation.

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Amount: Define how much you want to spend or receive in the transaction.

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Min/Max: Determine whether the amount should be minimum, maximum, or any value.

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Unit: Choose whether the fee should be set per unit (e.g. per coin) or in fiat currency units.

Step 3: Enter your transaction details

In the “Fee Calculator” section, enter your desired transaction details:

• Amount: The amount you want to trade in the specified base and pair currencies.

• Base Currency: The base currency for your transactions (e.g. ETH, BTC).

• Currency Pair: Select the cryptocurrency pair you wish to use (e.g. ETH/BTC).

Step 4: Calculate Custom Fees

After entering the necessary details, click “Calculate” or press Enter to see the calculated custom fees.

How to view transaction fee options

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Transaction Fee: You should be able to see the transaction fee options in the Multibit settings. This will show a fee calculation based on the parameters specified.

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Exchange Fee: You may also need to click the “Exchange Fee” (or similar) option within the fee calculator to adjust other aspects such as the exchange fee or any additional fees.

Step 5: Save Your Transaction Fees

Make sure you can save your custom transaction fees. If they don’t appear in your settings as expected, check for a typo or incorrect settings provided by the Multibit system.

Troubleshooting

If none of these steps work, the problem may lie with your account or settings configuration. You can contact Multibit support directly for assistance or seek help in online forums and communities as a last resort.