2 min read · Mar 19, 2024
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Discrepancies in transaction fees come from the blockchain network you are using for your cryptocurrency transaction, not the Ledger Wallet itself.
Ledger simply displays the network fees and lets you adjust them in some cases (depending on the cryptocurrency).
For better understanding, we will break it down for you to understand:
Every blockchain network charges fees to process transactions. These fees are paid to miners or validators who secure the network.
The specific fee depends on the network congestion and transaction size, not the amount being transferred.
Busy networks mean higher fees as users compete to get their transactions processed faster.
Ledger Live, the software used with Ledger Wallets, allows you to see the estimated network fees before confirming a transaction. The Ledger itself doesn’t add any extra fees on top of this.
In some cases, Ledger Live lets you adjust transaction fees. You can set a higher fee to get your transaction processed quicker during network congestion.
Listed below are some of the things that you can do to address these discrepancies:
- If you are not in a hurry, you can try lowering the fee. Your transaction will take longer to process, but it might save you some money. Ledger Live usually provides an option to adjust fees.
- Ledger Wallets are compatible with other cryptocurrency wallets like Electrum or Sparrow. These wallets might provide more detailed control over transaction fees.
- If you notice that congestion is the issue, waiting a while before initiating your transaction might be the best solution.
- You can also try to clear the Ledger Live’s cache. This can sometimes resolve fee display issues.
- If you are still experiencing problems, Ledger’s support team can be a good help source.
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