You pay absolutely nothing to us. Coinomi is a free wallet.


But what are those fees I keep seeing? Do you charge me for accepting or sending payments?

No, we don't charge anything. Receiving coins is always free, fees are paid by the sender. Outgoing transactions require a transaction fee which goes to the miners of each coin, not to Coinomi.


Dynamic fees

You can conveniently select any of the 3 dynamic options of Low, Normal or High priority for transactions. These options dynamically adjust according to the state of the network. When the average fees being paid on the network increase, these options increase accordingly. Please note that the fee algorithm looks at the current state of the network. It cannot predict the future, so a sudden increase on the network can cause delays even when high priority is selected.


Manual selection

On Android you can manually set a transaction fee by going to " Settings / Advanced settings / Transaction fees".
For coins that have dynamic options ("custom, low, normal, high"), select the fee option "custom".
On iOS, on the last screen where you confirm your password, select "... / Change fee"
When sending coins that have dynamic options ("low, normal, high"), the option "custom" will be automatically selected.
On desktop, for coins that have dynamic options ("custom, low, normal, high"), select the fee option "custom".


When withdrawing from an exchange into Coinomi, they may charge you a high fee. This is a policy choice of the exchange itself. Please contact the exchange's support or FAQ pages for information about their fees.


Transaction fees directly impacts the time it will take for your transaction to be confirmed. To read in more detail how fees are calculated, read here for BTC and here for ETH. Please consult the following links for more information:


https://en.bitcoin.it/wiki/Transaction_fees

https://bitcoinfees.earn.com/

https://blockchain.info/charts/transaction-fees

https://jochen-hoenicke.de/queue/