Paxum sudden fees surge.

[Cee4U2nv]

Good day everyone.
Does anyone perhaps know what is going on with Paxum's sudden surge in Network Processing Fees?
When you do a withdrawal to USDC, it usually charges "$15 Transaction fee" and a $2 to $3 "Network Processing Fee" -which has now suddenly increased to $24!
Example:
Last week, I did around a $1k withdrawal and this Network Processing fee was $2.09.
The week before that, I did a $500 withdrawal and it was $3.18.
Trying to do a $600 withdrawal now, and it's suddenly $23.76!

I've been monitoring it since Yesterday (about 24 hours ago) and it fluctuates between $15 and $24 now.
I've Googled for this and also scoured through their website, but there is no information on how the Network Processing Fee works. Does anyone perhaps understand how it works and why it is suddenly so incredibly high (over 10 times more than it used to be just last week)?

 

[Cee4U2nv]

Update.
I decided to wait it out and refresh every minute. After about an hour, it went down to $3.87.
It would be nice if anyone could explain who this fee works. Paxum does not want to, but instead just gives a vague generic response.

 

[KingMarti]

I thought paxum had fixed fees, from what they told me USDT / USDC on the ETH network is a $15 fee + the network transaction fee.

Network transaction fee's are based on the volume of transactions, the more people making transactions at any one time the more the transactions cost. It basically works the same way uber does, the more in demand it is the more it costs.

If you can I would switch to USDT on the tron network (TRC20 instead of ERC20), the fee's are much cheaper. It's a flat $5 fee (which imo is still insanely expensive considering the actual translocation only costs a fraction of a cent).

 

[ViviDoll]

I thought paxum had fixed fees, from what they told me USDT / USDC on the ETH network is a $15 fee + the network transaction fee.

Network transaction fee's are based on the volume of transactions, the more people making transactions at any one time the more the transactions cost. It basically works the same way uber does, the more in demand it is the more it costs.

If you can I would switch to USDT on the tron network (TRC20 instead of ERC20), the fee's are much cheaper. It's a flat $5 fee (which imo is still insanely expensive considering the actual translocation only costs a fraction of a cent).

Hello! Please can you help me with information on which apps should I download to receive USDT/USDC from my paxum? I am new to this crypto thing. Thank you so much if you can give me some info

 

[KingMarti]

Hello! Please can you help me with information on which apps should I download to receive USDT/USDC from my paxum? I am new to this crypto thing. Thank you so much if you can give me some info

I would recommend Nexo.io
Another would be crypto.com

if you want your own wallet where there is no 3rd party involved I would recommend Exodus

When doing the transfer always make sure you are sending it on the correct network, USDC is available on both eth and solana and USDT is avalibule on a few different networks.