Coinbase Wallet has undoubtedly become one of the widely used crypto wallets for managing and storing crypto funds. Being widely accepted, this wallet doesn’t claims that it comes with zero errors or problems while its functioning. Every software does come with some problems associated with them, and so does this wallet. You might be aware of the login issues and I bet you even know how to wipe out the login error.
But have you ever heard of the error linked to the Miner’s fees?
If not, then get ready to learn something new. This read has covered all the essential aspects associated with the Miner fees and what you’ll have to do in order to iron out the same. So, let’s dive into the detailed read
Coinbase Wallet to know about this error.
A preamble of the Miner feesA miner is an individual or an entity that handles a particular node or a group of nodes, accountable for adding new transactions to the blocks and their verification, if created by the other miners. Miner fees generally called network fees are paid to the miner in return for the services rendered to process the crypto transactions and to safeguard the respective network by monitoring them continuously. Moreover, these fees are not credited to Coinbase.
Resolution of the Coinbase Wallet Miner feesBefore diving into the detailed ways of settling the miner fee issue, knowing the reason behind the emergence of the error would be quite beneficial. The reason behind this is that knowing the major cause of the issue, will help the user to directly work on the cause instead of making guesses and solving the puzzles.
Phantom WalletWell, coming back to the discussion, the event that leads to the emergence of such a problematic situation is inadequate funds required to cover the transaction and the associated network transaction fees.
How to solve the issue then?The issue has emerged because of the lack of funds available in the Coinbase wallet needed to process the transaction and cover up the transaction fee. The simplest way to wipe out the errors is to add a sufficient amount of funds to your wallet.
Moreover, the wallet also provides users with an option to adjust the miner fees to determine the transaction speed. If you have opted to adjust the network fee then, you’ll be provided with the option to choose a speed at which the transaction is to be executed and confirmed by the network. The fee is directly paid to the miners for maintaining and confirming transactions on the blockchain’s network.
Summing up!!Coinbase Wallet is working on the path to widening its adoption in the crypto ecosystem. And to ensure, that no barrier restricts you from achieving new heights in the trade, we tried to help you know of the miner fee error and its possible fixes. Doing so will erase the miner fee error in just a blink of an eye.
