Transaction Fee

Transaction fee is a charge applied to facilitate a transaction on a financial network, whether crypto or fiat. In cryptocurrency networks, miners or validators receive this fee for processing and verifying transactions on the blockchain. These fees incentivize network participants to maintain the network's security and efficiency. In fiat currency exchanges, transaction fees cover operational costs, such as payment processing, platform maintenance, and fraud prevention. Fees vary based on network congestion, transaction size, or exchange policies. Understanding transaction fees is crucial for users to manage costs effectively and ensure fast, successful transactions in the digital economy.