What are bitcoin fees?

Bitcoin fees are one of the most misunderstood aspects about Bitcoin. The Bitcoin block size debate was all based around Bitcoin transaction fees. How do Bitcoin fees work? And what’s the truth behind Bitcoin transaction costs? Let’s jump in below. Bitcoin fees are paid by Bitcoin senders for sending transactions on the Bitcoin network.

What are Exodus wallet fees?

As a service provider, Exodus charges transaction fees each time a payment is processed. The fees themselves are paid to each blockchain network — for example, Bitcoin, Ethereum and Solana — and are not kept by Exodus.

Are bitcoin transaction fees shooting up again?

Now that bitcoin is in a bull run and more users are rushing to use the digital currency, bitcoin transaction fees are shooting up again. Lately, the average bitcoin transaction fee has fluctuated between $24 and $31, according to data provider Bitinfocharts. Higher fees emerge when the blockchain is congested.

How much does it cost to trade Bitcoin with Coinbase?

You might pay $1.5 USD to Coinbase for the trade, and then another $0.05 to the Bitcoin network when you withdrawal your coins from Coinbase into your own wallet. Segwit lowers Bitcoin transaction fee costs by lowering the amount of data needed for a transaction. Most wallets today use Segwit, so you should be fine.