When withdrawing Bitcoin from your Swan Vault, the Bitcoin network requires a fee to be paid to Bitcoin miners. This fee secures and processes transactions on the blockchain.
Because Swan does not custody the Bitcoin in your Vault, the network fee must be paid directly by you, the holder. The fee amount can vary depending on the Bitcoin network conditions. Swan does not collect or receive any portion of this fee.
Swan aims to keep the Vault withdrawal process as transparent and convenient as possible for users. The fee ensures your transaction will be processed promptly by miners.
Additionally, if your cloud key is used to co-sign a withdrawal, the transaction will be held securely for 72 hours before being broadcast to the Bitcoin network. This provides an added time buffer as a security measure for cloud key-involved transfers.