Cost of a Trade

Understanding trading costs on Nefster

Trading on Nefster is designed to be cost-effective. Here's a breakdown of the costs associated with making a trade on the platform.

How much does it cost to trade?

The Ethereum blockchain imposes its own gas fees for transactions. However, Nefster's smart contracts are optimized to result in extremely low gas fees for its traders.

Currently the swap fee on Nefster is set to zero, and there are no additonal fees charged by the platform. This means traders only have to pay the gas fees, which are unavoidable and can be considered the cost of doing business on the Ethereum blockchain - and, of course, you get auditable, transparent, and immutable trading records in return.

Why is the counterparty to a trade responsible for the gas fees for both parties?

When you initiate a trade, the NFTs remain in your wallet until the counterparty finalizes the trade. Since the counterparty does the acceptance, they cover the gas fees associated with transferring NFTs for both sides. However, as the initiator of the swap contract, you have the option to compensate the counterparty for these fees. One way to do this is by including some crypto in the trade, effectively offsetting their gas expenses.