Watch this helpful tutorial video on Fee Selection in ARKVault
It is important to understand the function of network fees when considering cryptoasset transactions. The nature, purpose and values of fees depends entirely on the network in question. While some networks offer fee-less transactions, the vast majority require a small fee.
ARK transactions require a network fee. Forging Delegates receive these fees as an additional incentive for securing the ARK Public Network (APN). The type of transaction determines how much you will need to pay in fees.
While you may select a Slow, Average, Fast, or Custom transaction fee, it is best to leave it set to Average unless otherwise instructed (for example, a Delegate or online shop may request or recommend a specific ARK fee).
If a fee is set too low, your transaction may fail, meaning all funds and fees will remain securely within your wallet. However, if your fee is set too high, you will overpay for your transaction.