What are miner fees?

Miner fees are amounts of cryptocurrency given to incentivize miners (and their operators) to confirm transactions. Miners are the special pieces of hardware that confirm and secure transactions on the network. Miner fees pay miners for the service they provide. Miner fees do not go to BitPay.

Do ETH exchanges charge a miner fee?

Remember that you can only customize the fee immediately before you make a transaction. Note: some bitcoin exchanges won't send a miner fee when they transfer funds. Instead, they will deduct the miner fee cost from your outbound transaction. How do miner fees work in the ETH network?

What are Coinbase miner fees?

Miner fees are just one type of fee that Coinbase users end up paying. There's usually a small transaction fee as well, typically a couple of dollars per transaction. There are also credit card fees, which come in at around 2% per transaction. These tend to be the biggest Coinbase-specific fees that users pay.

How do miners get paid?

Miners get financially rewarded for the vast amounts of computing power and energy they expend supporting the network. With every block (a collection of transactions) added to the blockchain comes a bounty called a block reward, as well as all fees sent with the transactions that were confirmed and included in the block.