Transaction fee

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In cryptocurrencies, a transaction fee (or shortly fee) is a payment to the miners for adding a transaction into the blockchain. When a transaction has been included in the blockchain, it is considered confirmed. The size of the fee sent with the transaction determines the confirmation time.

Transaction fees in Trezor Wallet[edit]

Trezor Wallet allows you to determine the size of the fee to send with a transaction: low, economy, normal or high. It is also possible to set a custom fee. However, it is essential to make sure the fee will be sufficient for the confirmation time you are trying to achieve; sending a transaction with a fee that is too low might mean that the transaction never gets confirmed.

See also: Transaction, Unconfirmed transaction, Confirmation time, Confirmed transaction (basic)

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