bitcoin fees explained
People often claim that with Bitcoin “you can send money between two points of the world for free”. While that is true in some cases, sometimes a transaction fee is required. The fee, when required, is usually worth a few dollars. The rates go to the miners to encourage them to maintain mining, which in turn keeps the Bitcoin network safe. They already get a reward of 12.5 XBT for each block they extract, but this reward is reduced by half every 4 years. The plan is that as the block’s reward decreases over time, it will be replaced by transaction fees.
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