This content is for educational purposes only and should not be considered financial advice or an inducement to buy, sell, or trade cryptoassets.
Transaction times can vary based on network congestion. Being able to customize your transaction's network fees in Magic Eden app grants you more control over how quickly your transaction gets confirmed.
Getting started with custom fees on Magic Eden app
Accessing your bitcoin
Navigate to your Portfolio page and select Bitcoin to open its token details page.
Sending bitcoin
When you're ready to prepare a Bitcoin transfer, simply click on your balance and hit send.
You can also initiate a transfer by clicking the "Send" button on the Portfolio page and selecting Bitcoin.
Adjusting the network fee
Look for where the 'Network Fee' is displayed on the bottom of the screen. By clicking on it, you will reveal further options to customize your transaction.
Network fee slider
Upon clicking, you'll notice a slider. If you slide to the left, you'll set a lower fee which might result in a slower confirmation time. Conversely, sliding to the right will set a higher fee, aiming for a faster confirmation. When you're satisfied with your selection, click 'Done'.
Please note that setting a network fee that is too low can result in the transaction becoming "stuck" or delayed for a long period or even failing.
Bitcoin transaction speeds versus other chains
It's worth mentioning that Bitcoin transactions will usually take longer to confirm than other chains like SOL or ETH. This is due to the differences in the design and structure of each blockchain and how they confirm and validate transactions. If you're accustomed to the speed of SOL or ETH transactions, Bitcoin's pace might feel a bit slower. However, this is entirely normal. You can track your transactions on block explorers such as mempool.space.