Who pays Bitcoin fees?

BTCC, a leading cryptocurrency exchange, offers a range of services to cater to the needs of Bitcoin users. These services include spot trading, futures trading, and a secure wallet solution. By providing a comprehensive platform, BTCC enables users to easily buy, sell, and manage their Bitcoin holdings.

The Bitcoin transaction fee is not borne by the recipient of the payment, commonly known as the merchant. Instead, it is the responsibility of the payer, who initiates the transaction, to cover the cost.

The fee amount varies depending on factors such as the size of the transaction and the current congestion level on the Bitcoin network. During times of high demand, the fee may increase to incentivize miners to prioritize the transaction.

The purpose of the Bitcoin transaction fee is to ensure the security and sustainability of the Bitcoin network. By compensating miners for their work in verifying and adding transactions to the blockchain, the fee helps maintain the integrity of the network.

Despite the presence of a transaction fee, Bitcoin remains an attractive payment option for many merchants due to its low processing costs compared to traditional payment methods. The absence of intermediaries and chargeback risks makes Bitcoin an efficient and cost-effective solution for cross-border transactions.