Fee Managment
How Blockchain transaction fee work
Transaction Fee vary a lot across blockchains and network busy state. Here’s a sample recap gathered in 2024 :
The system is able to retrieve network state for blockchain that need dynamic Fee calculation. That’s the case for Bitcoin. The fee amount is consumed by the network to reward workers who maintain it.
The fee amount is an important data that condition proper execution of transactions.
Before submiting a transaction from Blockchain Payment journal, please alway review the Fee amount.
Under Blockchain Network Card page, you can open Fees details. In case of multiple fee suggestion, A default level can be configured. The default Fee code will be affected on new Blockchain Payment Journal Line creation.
Update Blockchain Fees State
Fees can be updated manueally from the paghe Blockchain Network Fee using the action Update.
It can also be scheduled under the Blockchain General Setup page, bellow Schedule category.
The option « On Page Opening » refer to the Blockchian Payment Journal.
Fee Accounting
spent fee amounts can be accounted in specific general account when transaction are submited and suceed.
Please refer to this article understand how to configure Fee Accounting.
Recommandation to reduce Fees
Fees can be get important on some blockchain network such as Bitcoin or Etherum.
Only use expensive Blochain for assets you plan to store on the long term, or for significant amount transaction.
Thoses are blockchain having few dollars per transaction, and relatively slow execution :
- Bitcoin
- Ethereum
Use cheaper Blockchain for intensive activity, lower transaction amount, or if you like to issue invoice using miscellaneous token, such as fiat backed currency Tether USD, EUR ect.
(few cents per transaction or close to zero, fast execution) :
- Solana
- Tron
- Ripple
- Polygon
- Binance Smartchain
- …
Monitor Network fee
When having assets scattered across lots of address (eg when issuing many invoice), you can use the suggest consolidation to gatter all asset in a single address.
We strongly recommand to monitor blockchain state to avoid using this feature during instense network activities to dodge high fees. Bellow link show exemple on how to check for fees charts.