Is sending crypto free?

One of the key benefits of off-chain sends is that they are instant. Unlike on-chain sends, which can take several minutes or even hours to be processed, off-chain sends are completed almost immediately.

When it comes to sending cryptocurrencies, there are two primary methods: on-chain and off-chain. On-chain sends involve the direct transfer of digital assets through the blockchain network, which necessitates the payment of network fees and requires time for the transaction to be processed and confirmed.

In contrast, off-chain sends provide a more efficient and cost-effective alternative for sending funds to other users within the same platform. For instance, with Coinbase, users can send funds to another Coinbase user without the need for a blockchain transaction.

Off-chain sends utilize the platform's internal system to facilitate the transfer of funds. This means that instead of broadcasting the transaction to the entire network, it is handled internally by Coinbase, resulting in faster transaction speeds.

Additionally, off-chain sends incur no transaction fees. This is because the transfer of funds is handled internally by the platform, eliminating the need to pay blockchain network fees.