Who gets the bitcoin transaction fees?

Miners, who are responsible for verifying and adding transactions to the blockchain, require compensation for their efforts. The network fees paid by users ensure that miners are adequately rewarded for their computational power and resources invested in maintaining the network.

By allowing users to customize these fees, Bitcoin wallet apps like Bitcoin.com Wallet enable users to balance the cost of sending a transaction with the desired speed of confirmation. Higher fees can incentivize miners to prioritize a transaction, resulting in faster confirmation times.

Additionally, this customization feature promotes transparency and allows users to make informed decisions about the cost of their transactions. It is crucial for users to understand the impact of network fees on their transactions and adjust them accordingly.

Bitcoin wallet apps, such as the Bitcoin.com Wallet, offer users the flexibility to tailor the network fees associated with sending Bitcoin transactions. This customization feature empowers users to adjust the fee according to their preference and urgency of the transaction.

The inclusion of network fees in Bitcoin transactions is an essential aspect of the blockchain's decentralized and secure nature. These fees serve as an incentive for miners to include transactions in a block and contribute to the validation and security of the network.