Ethereum: How to set a transaction fee in Multibit?

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

Setting a Transaction Fee on Multibit

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

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 of your profile.

Step 2: Find the Transaction Fee Option

In the settings menu, you will see several options that cover different aspects of your account and trading experience. Look for the “Custom Fees” or “Fee Calculator” section to set transaction fees.

Setting Custom Transaction Fees

In this section, you can calculate custom fees based on several 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 to calculate the transaction fee.

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

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

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Unit: Choose whether the fee will be set per unit (e.g. per currency) or in units of a fixed currency.

Step 3: Enter your transaction details

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

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

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

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

Step 4: Calculate Customs Fees

Once you have entered the required information, click “Calculate” or press Enter to see the calculated customs fees.

Overview of Transaction Fee Options

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

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Change Fee: You may also need to click on the “Change Fee” (or similar) option in the fee calculator to adjust other aspects, such as the change fee or any additional fees.

Step 5: Save Your Transaction Fees

Make sure you are able to save your custom transaction fees. If they don’t appear in your settings as expected, check for any typos or incorrect settings provided by the Multibit system.

Troubleshooting

If none of these steps work, the problem may be with the way you set up your account or with your settings. For assistance, you can contact Multibit support directly or, as a last resort, seek help from online forums and communities.