Cryptocurrency Q&A
Why is the blockchain transfer fee so high?
Why is the blockchain transfer fee so high?
SsamziegangStroll
Thu Nov 28 2024
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6
answers
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I'm really confused about why the transfer fee on the blockchain is so expensive. It seems to be much higher than traditional transfer methods. Can someone explain the reason behind this?
6 answers
Valentina
Sat Nov 30 2024
Transaction fees are typically determined by the size of the transaction measured in bytes.
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Claudio
Sat Nov 30 2024
A larger transaction will generally require a higher fee to be processed.
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SolitudeSeeker
Fri Nov 29 2024
This fee structure ensures that miners prioritize transactions based on their size and the fee offered.
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SsangyongSpiritedStrengthCourageBravery
Fri Nov 29 2024
During periods of high network congestion, blockchain fees can escalate significantly.
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DaeguDivaDanceQueenElegantStride
Fri Nov 29 2024
High congestion often occurs during times of heightened activity in the crypto market, like a bull run.
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