Unlike traditional exchanges, Wigwam is a self-custodial wallet, which means all trading operations are executed directly on the blockchain. For this reason, please make sure your account has enough blockchain gas tokens (such as ETH, BNB, SOL, etc.) to cover transaction fees.
What is a transaction fee?
A transaction fee on the blockchain is a small payment made when you send cryptocurrency. It goes to the miners or validators who process and confirm your transaction (these fees are charged by the blockchain, not by our wallet). Higher fees can help your transaction get confirmed faster.
What to do if you see this error?
If you don’t have the required gas token for the blockchain where your tokens are located, you’ll see an error message telling you which network is being used and which token you need. You can buy this token inside the app or receive it from another place.
Below, we have shared a table with the average gas fees for send and swap operations. It will help you plan how many tokens you need to cover the gas fees.
What are the advantages of self-custodial wallets?
In a self-custodial wallet, only you have access to your funds, which eliminates the risk of theft or account freezes by third parties. You also gain instant access to liquidity from decentralized exchanges, allowing you to trade tokens as soon as they appear on the market.
