Questions tagged [miner fee]

Giulia Fri Sep 06 2024 | 7 answers 1359

Excuse me, could you please clarify what exactly a miner fee is in the context of cryptocurrency transactions? I've heard it mentioned before but am still a bit confused about its purpose and how it's determined. Specifically, how does it differ from other transaction fees, and why is it necessary for miners to be compensated in this way? Thank you for your help in understanding this aspect of cryptocurrency transactions.

Stefano Fri Sep 06 2024 | 5 answers 825

Could you please explain to me what a miner fee is in the context of Bitcoin? I've heard it mentioned before but I'm still not entirely clear on its purpose and how it works within the Bitcoin network. How does it differ from other transaction fees I might encounter in traditional financial systems? Is there a way to determine the optimal miner fee to ensure a fast and successful transaction? And finally, how does the Bitcoin network adjust to changes in the demand for miner fees over time? Thank you for your insights.

Margherita Thu Sep 05 2024 | 5 answers 1020

Could you please explain what exactly is meant by a miner fee in the context of BitPay? I understand that BitPay is a popular payment processor for cryptocurrency transactions, but I'm unclear on the specifics of how a miner fee fits into this process. Is it a necessary cost for using BitPay, and if so, how does it impact the overall transaction fees for the buyer and seller? Furthermore, is there any way to minimize or avoid this fee altogether? I'd appreciate any clarity you can provide on this topic.