What are network fees?

Bitcoin/Litecoin/Bitcoin Cash/Ethereum

We charge a network fee for Bitcoin/Litecoin/Bitcoin Cash/Ethereum withdrawals from your Abra wallet to an external Bitcoin/Litecoin/Bitcoin Cash/Ethereum wallet.

A Network fee is required to ensure your transaction is confirmed by the Bitcoin/Litecoin/Bitcoin Cash/Ethereum mining network and fluctuates based on volume on the network. Abra does not profit from it.

We currently select a high-priority fee, to ensure fast confirmation on the blockchain. You need to have enough funds to cover the network fee. 

Actual fees fluctuate based on Bitcoin network volume. A network fee is calculated at the time of a transaction and it will always be shown in the confirmation step before the transaction completes. Abra does not profit from this fee.

Why do network fees seem so high right now?