In order for your transaction to be properly registered on the blockchain, you must pay a certain fee, which is forwarded to the network (i.e. provided to the miners, partially burned, etc). The higher the fee you pay, the higher the chance that your transaction is swiftly registered on the blockchain. If the fee is extremely low, the transaction may either take a long time to complete or may never complete at all.
In the Fireblocks Console, you can select either a low, medium, or high fee level for your transaction. If price is important to you and transaction completion time is not, select a low fee. If you need the transaction to be completed ASAP, select a high fee. If you select neither, the default medium fee level will be used. Medium is the average fee level of recent transactions on the network, which like the other fee levels, is determined by statistics. You can also specify a custom fee amount if necessary.
For some blockchains, the low, medium, and high options are only estimates based on network activity and congestion, time of day, the transaction’s structure and complexity, and other factors. After the transaction progresses to the Confirming or Completed statuses, you can view its actual fee amount on the Recent activity panel or the Transaction History page.
Additionally, some blockchains require fees to be paid in their base asset. So if the asset in your transaction is different from the blockchain’s base asset, you must have a sufficient balance of both assets to complete the transaction.