What are blockchain networks fees?

What are blockchain networks fees?

Blockchain fees are an essential aspect of sending and receiving cryptocurrencies.

A blockchain fee is a amount of cryptocurrency that users pay to complete a transaction on a blockchain network. It’s a fee that is paid to the network’s miners, who confirm and validate the transaction and add it to the blockchain ledger.

The amount of the blockchain fee varies depending on the blockchain network usage. Usually, during periods when there are a lot of transactions, the fee tends to increase while when the blockchain network is not used intensely, the fees decrease.

The blockchain fee doesn’t represent a profit for Xapo.