What are transaction fees in cryptocurrency?

Transaction fees in cryptocurrency refer to the amount of money that a user must pay in order to complete a transaction on a cryptocurrency network. A variable fee is assessed for each transfer on a block chain, and the user can choose to pay a higher fee if they want to prioritize their transaction over others. In most cases, transaction fees only cover the minor costs associated with running the network (miners who confirm transactions are paid for their efforts in transaction fees).

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