Cryptocurrency Q&A
Who pays the fee when sending crypto?
Who pays the fee when sending crypto?
BitcoinBaroness
Tue Oct 15 2024
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7 answers
1410
I'm wondering about the fees associated with sending cryptocurrency. Specifically, I want to know who bears the responsibility for paying these fees during a crypto transaction.
7 answers
Pietro
Thu Oct 17 2024
By contributing to the commission, senders contribute to the reward pool that encourages miners and validators to expend their computational resources in capturing and validating transactions.
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JejuJoyfulHeartSoul
Thu Oct 17 2024
The validation process ensures that each transaction is authentic, thereby preserving the security and integrity of the blockchain ledger.
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CryptoLord
Thu Oct 17 2024
The blockchain commission, a pivotal aspect of cryptocurrency transactions, represents the fee paid by the sender for executing a payment. This fee is not an optional expense but a mandatory component of the process.
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CryptoEagle
Thu Oct 17 2024
Without the support of miners and validators, the blockchain network would be unable to function efficiently, as they are responsible for verifying and adding new blocks to the chain.
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Silvia
Thu Oct 17 2024
In addition to their validation role, miners and validators also contribute to the decentralization of the blockchain network by ensuring that no single entity can control the ledger.
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