The amount sent and the amount received on Bitcoin transactions may differ due to transaction fees and currency rate differences.
In the following guide below, let’s say you need to send 0.05 BTC to another wallet.
Sending BTC between Noones wallets
Noones enables zero fees for internal send-outs. So, the amount deducted from your wallet will be exactly 0.05 BTC—If sending 0.05 BTC is equal to 100 USD, the recipient will see the same rate after receiving the transaction. This is due to the fact that transactions within Noones are instant. Hence, the effect of currency fluctuations is minimal in such internal wallet transactions.
Sending BTC between Noones and external wallets
Sending funds to an external wallet will have a fixed Noones transaction fees. The amount of crypto you're sending + the fee will be deducted from your wallet. The currency rate will also be different from what the recipient will see in their wallet.
- Noones may use different rates from those used by the recipient's wallet service. So if 0.05 BTC may be equal to 100 USD in Noones, it may be equal to 101 USD or 99 USD in another wallet service.
- External transactions may take some time; The Bitcoin value may change during this timeframe, which is beyond any cryptocurrency service's control.
- If 0.05 BTC appears as 100 USD in your Noones wallet, it may appear to be worth less or more to the recipient's wallet due to a drop or increase in the value of Bitcoin
- Keep in mind that you are sending in Bitcoin not in fiat amount, so the recipient will still get 0.05 BTC in this case, regardless of the currency rates.
- Some other wallet services may have a deposit fee. Noones does not charge any deposit fee.