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Transaction Fee

What does Transaction Fee mean in crypto terms?

A transaction fee is a fee incurred when making a cryptocurrency transaction on a blockchain network. Transaction fees are usually paid to miners or validators as an incentive to maintain the network's security and to process transactions. The fee amount can vary depending on the network's congestion, transaction size, and chosen fee rate. In some cases, users can set higher fees for their transactions to be prioritized and confirmed faster. Transaction fees play a crucial role in network sustainability, especially in networks where block rewards decrease over time.

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