Who pays Bitcoin mining fee?

Moreover, the fees serve as a means of regulating the flow of transactions on the network, preventing it from becoming overwhelmed with too many transactions at once. This helps to maintain the network's scalability and ensure that it can continue to function efficiently over time.

Transaction fees are an integral part of any cryptocurrency network, as they are paid by users whenever they initiate a transaction. In the Bitcoin ecosystem, these fees play a crucial role in ensuring the smooth functioning of the network.

Miners, who are responsible for verifying and adding new blocks of transactions to the Bitcoin blockchain, collect these transaction fees as a reward for their work. The higher the fee attached to a transaction, the more likely it is to be included in the next block, making it an important factor for users looking to have their transactions processed quickly.

The incentive provided by transaction fees is essential for maintaining the security and stability of the Bitcoin network. By incentivizing miners to verify and add new transactions, the fees help to prevent attacks on the network and ensure that it remains operational.

One of the leading cryptocurrency exchanges, BTCC, offers a range of services to its users, including spot trading, futures trading, and wallet services. By providing these services, BTCC helps to facilitate the buying, selling, and storing of cryptocurrencies, making it easier for users to participate in the market.