3 hours ago · Updated
What's a transaction fee for crypto transfers?
The transaction fee covers the cost of processing a transfer on a blockchain like Bitcoin or Ethereum. Every crypto transfer requires one. The fee helps cover the cost of processing your transfer on the applicable blockchain network.
How does SoFi handle crypto transfer transaction fees?
To make sending crypto simpler and more predictable, we calculate your fee upfront and show it to you before you submit. The amount you see when you confirm your transfer is the most you'll pay.
Why do crypto transfer transaction fees vary?
Blockchain networks don’t have fixed pricing. Fees can change based on:
Because of this, fees can fluctuate in real time.
What happens if the actual blockchain cost is different?
If the actual cost to process your transfer on the blockchain is lower than your quoted fee, your transfer still goes through as expected. If the actual cost is higher, you're still only charged the amount shown at confirmation. SoFi covers the difference.
In rare cases, if network conditions change significantly or we can’t process the transfer at the quoted fee, the transfer may not go through and you may need to try again with a new quote.
Why might the transaction fee look different from other platforms?
Some platforms show estimates that can change later or require you to retry if fees increase. We prioritize clear pricing, fewer failed transfers out, and no surprise charges after you submit your transfer.
This means the fee you see may sometimes be slightly higher than the minimum required at that moment, but it will never increase after you confirm.
Where can I see the transaction fee on a crypto transfer?
You can see the transaction fee on the Review screen before submitting your transfer out and in your transaction details after the transfer is submitted.