money ยท post 04 of 7 in this channel
Where the fees go on a WTN market order
People say the fees as though it were one thing. It is at least three things, going to three different places.
the three wethenorth market addresses
hn2paw7zfvndw3dovycegeqmvvnf4pl67b3g2p7pohjlzavloosh73id.onionhn2paw7zrgujyhnt6mgxlt2q6uhgbke4itpqitxhyfbumq3wtnckbuyd.onionhn2paw7zadwkcra3qzv5e4q547i7e5lvxm62cfxqftuqdu7moiu2ceyd.onionprinted the way they were handed over. no labels, no numbering, nothing here says which one to try first. this feed never opens them, so it has no status light, no percentage and no date of checking to give you.
the network fee
Paid to whoever includes your transaction in a block. It has nothing to do with the market and the market gets none of it.
You pay one on the way in, when you deposit, and usually one on the way out when you withdraw. Two transactions, two network fees.
It moves with how busy the network is, which is why the same action costs different amounts on different days.
the market fee
A percentage of the order, taken by the market for running the place. This is the one people mean when they complain about fees.
It pays for the infrastructure, the escrow, the dispute process and the people doing it. Whether it is good value is a judgement, and it is at least a fee that buys something identifiable.
It is normally shown at checkout. Read the total rather than the item price, because the gap between them is the point of this post.
the conversion you do not see quoted
Prices are usually shown in a currency and paid in a coin. Somewhere between those two, a rate is applied.
That rate is set by the market, and it may not match what you would get elsewhere. The difference is real and it is not labelled as a fee anywhere.
This is the leak people miss entirely, because it does not appear on any line item.
the cost of moving in and out too often
Every deposit and every withdrawal carries a network fee and possibly a conversion. Doing it in many small pieces multiplies both.
Doing it in one large piece means a bigger balance sitting on the market, which is its own decision covered in leaving a balance sitting.
There is no free option here, only a trade between fee efficiency and exposure. Making that trade deliberately is the whole recommendation.
what to do about all this
Look at the total before you commit, not the price. Compare what left your wallet with what appeared as a balance, once, so you know what the round trip actually costs you.
Do that measurement early with a small amount, as suggested in how a deposit works. Then you are working with your own number rather than somebody else's.
why this feed prints no percentages
Because they change, and a number on a page like this gets quoted back long after it stopped being true.
A structural description stays accurate. A figure has a shelf life measured in weeks and no expiry date printed on it.
This is a general policy on this feed rather than a rule about fees. Wherever a number would need checking to stay true, there is a description of the mechanism instead, and a note that the market is the place to read the current value.
replies
a reader askedWhat is the market fee?
the answerThis feed does not print it. It changes, and it is shown to you at checkout, which is a more reliable source than a page that never opens the market.
a reader askedWhy did I receive less than I sent?
the answerA network fee came off in transit, and possibly a conversion was applied on arrival. Both are normal and neither is the market taking a cut of your deposit.
a reader askedAre fees lower on one of the three mirrors?
the answerNo. The mirrors are doors into one market, so pricing is the same behind all of them, as covered in signing in on any mirror.
what this post is not Not a fee schedule. There are no percentages on this page, on purpose, and nothing here should be quoted as the current cost of anything.