As decentralized finance (DeFi) and hardware wallets grow in popularity, Tangem Wallet has emerged as a unique solution offering secure, card-based cryptocurrency storage. For users considering or already using Tangem, understanding the fee structure—especially for withdrawals—is essential. In this blog, we’ll break down everything you need to know about Tangem Wallet withdrawal fees, how they work, and how to manage them efficiently.
Read More: How to Transfer Crypto to Tangem Wallet [Latest Guide]
What is Tangem Wallet?
Tangem Wallet is a hardware wallet that looks like a credit card but functions as a highly secure cryptocurrency wallet. Unlike traditional wallets with screens or USB connections, Tangem works via NFC (Near Field Communication) with your smartphone, and it doesn’t require batteries or cables. It’s a non-custodial wallet, meaning users fully control their assets with no third-party access.
Does Tangem Charge Fees for Withdrawals?
The short answer is: Tangem itself does not charge withdrawal fees. However, this needs further clarification.
1. Tangem’s Fee Policy
Tangem does not take any commission or fee when you send cryptocurrency from your wallet. The wallet is non-custodial and does not act as a financial intermediary. That means all transactions initiated from your Tangem wallet are done directly on the blockchain.
2. Network Fees (Blockchain Fees)
While Tangem doesn’t impose withdrawal fees, all blockchain transactions require network fees (also known as gas fees). These fees go to the miners or validators on the blockchain, not Tangem.
For example:
- Bitcoin transactions incur BTC network fees.
- Ethereum transactions incur gas fees in ETH.
- BNB Smart Chain transactions require BNB for gas.
3. Fees When Using DApps
If you’re using your Tangem Wallet with decentralized apps (DApps) or decentralized exchanges (DEXs) like Uniswap or PancakeSwap, additional platform or protocol fees may apply. Again, these are not Tangem fees.
How to Check Withdrawal Fees on Tangem
Tangem provides real-time fee estimation during the transaction process. Here’s how:
- Open the Tangem app.
- Select the crypto asset you want to send.
- Enter the destination wallet address and amount.
- The app will calculate and show the estimated network fee.
- You can choose from different fee tiers (slow, average, fast).
This helps you balance speed and cost effectively.
How to Reduce Withdrawal Fees from Tangem Wallet
While you can’t avoid network fees entirely, you can reduce them using a few practical strategies:
1. Avoid Peak Hours
Network fees spike during high activity. Avoid making withdrawals during busy times to minimize costs.
2. Use Low-Fee Networks
Instead of using Ethereum, consider cheaper alternatives like:
- BNB Smart Chain (BSC)
- Polygon (MATIC)
- Avalanche (AVAX)
Tangem supports multiple chains, so you can choose low-fee options.
3. Batch Withdrawals
If you regularly send crypto, consider batching multiple transactions into one to save on fees.
4. Use Layer 2 Solutions
Tangem supports assets on Layer 2 blockchains, like Arbitrum and Optimism, which offer lower gas fees compared to Ethereum mainnet.
Frequently Asked Questions (FAQs)
Does Tangem charge hidden fees?
No, Tangem does not charge hidden fees. All you pay is the network fee, which goes to the blockchain network, not Tangem.
Are there withdrawal fees when moving crypto to an exchange?
Yes, but only the blockchain network fee applies. There’s no additional fee from Tangem for sending funds to an exchange like Binance or Coinbase.
Can I customize gas fees in Tangem?
Yes, the app allows you to choose between fee tiers—usually slow, average, and fast—depending on how quickly you want the transaction to be confirmed.
Are there token-specific fees I should be aware of?
Some tokens, like ERC-20 tokens, require ETH to cover gas. Similarly, BEP-20 tokens require BNB. Make sure you have enough native token balance for fees.
Final Thoughts: Is Tangem Cost-Effective for Withdrawals?
If you’re looking for a secure, portable, and fee-transparent hardware wallet, Tangem is a great choice. The fact that it doesn’t charge withdrawal fees makes it appealing for crypto users who value control over their assets and cost-efficiency.
Keep in mind:
- You still pay network fees, which vary by blockchain.
- You can take steps to minimize these fees by choosing low-fee networks or avoiding peak hours.
By understanding how Tangem handles withdrawals and associated fees, you can better manage your crypto portfolio and avoid surprises. For most users, Tangem offers a user-friendly, low-cost way to store and move cryptocurrency securely.
