What is a Miner Fee?

In the process of transferring digital currencies such as BTC and ETH, a "miner fee" must be paid. Miner fees are fees paid to miners/validators in the blockchain network. These fees incentivize miners/validators to package transactions and maintain the secure and stable operation of the blockchain network. Miner fees can also be understood as transaction fees within the blockchain network, similar to transfer fees in daily life.

Characteristics of Miner Fees:

• Miner fees are dynamic and fluctuate depending on the current state of the blockchain network.
• Different blockchain networks have distinct methods for calculating miner fees.
• Higher miner fees result in transactions being prioritized by miners/validators for packaging.
• Not all token transfers require miner fees. For example, EOS transfers do not require additional miner fees.
• Miner fees are collected by the corresponding main network, and the method of calculation varies across blockchain networks based on the network's state at the time.

Examples:

• If your token is in a BTC wallet, BTC is required as the miner fee.
• If your token is in an ETH wallet, ETH is required as the miner fee.
• If your token is in a BSC wallet, BNB is required as the miner fee.