Cryptocurrency Q&A
Who pays the transaction fees for every transaction?
Who pays the transaction fees for every transaction?
Silvia
Thu Sep 05 2024
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6 answers
1430
Excuse me, but I'm curious to understand the mechanics behind cryptocurrency transactions. Specifically, I'd like to know who exactly foots the bill for the transaction fees that are associated with every single transaction? Are these fees charged to the sender, the recipient, or perhaps they are shared in some way? I'm hoping to gain a clearer understanding of how these fees work and who ultimately bears the cost. Thank you for your insight.
6 answers
Tommaso
Sat Sep 07 2024
In most scenarios, these fees are borne by the merchant who is accepting cryptocurrency payments.
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Valentina
Sat Sep 07 2024
Cryptocurrency transactions often involve fees, which are a necessary aspect of the decentralized and secure nature of the technology.
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Daniele
Fri Sep 06 2024
However, it is important to note that there are instances where these fees may be passed on to the cardholder.
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Michele
Fri Sep 06 2024
For instance, if a merchant utilizes a credit card surcharge program, they may opt to charge the customer an additional fee to cover the cost of processing the cryptocurrency transaction.
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mia_rose_painter
Fri Sep 06 2024
This can lead to confusion and dissatisfaction among consumers, as they may not have anticipated having to pay an additional fee.
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