Transaction Fee (Miner's Fee)

Transaction Fee (Miner's Fee)

Also known as a "miner's fee", a transaction fee is an amount of cryptocurrency that is collected by the miner from each transaction. See the list of our fees in this article.

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    • Miner

      A computer or group of computers that add new transactions to blocks and verify blocks created by other miners. Miners collect transaction fees and are rewarded with new bitcoins for their services.

    • Escrow Fee

      Escrow keeps the money in safekeeping until a transaction is completed. An escrow fee covers the cost of the service being provided.

    • Transaction

      A transaction is an entry in the blockchain that describes a transfer of Bitcoin from one address to another. A transaction occurs when data is sent to and from one Bitcoin address to another. Just like when you send money from one person to another ...

    • Confirmation

      Confirmation means that the transaction has been verified by the network and you receive this confirmation when sending out Bitcoin. Once a transaction is confirmed, it cannot be reversed or double spent.

    • Transaction ID (TXID)

      A Transaction ID or TXID is an identification number for a cryptocurrency transaction, such as Bitcoin (BTC), Ethereum (ETH), Tether (USDT), or USD Coin (USDC). It is an alphanumeric string that uniquely labels each transaction within the respective ...