A commission paid to buy, sell or trade cryptocurrencies. There are two kinds: miner fees and exchange fees. Also called "network fees," miner fees are the compensation miners receive for adding transactions to a blockchain.
Tip the Miner!
Miners configure the software in their computers or mining machines to accept some ratio of high-fee and low-fee transactions. In order to ensure faster execution of their transactions, and depending on the exchange or wallet being used, people may be able to increase the mining fee. See Bitcoin mining
Exchange fees are the compensation that a crypto exchange charges for deposits, trades and withdrawals. Bitcoin ATMs also charge a fee for buying or selling bitcoins. All fees, no matter which kind, are paid when the transaction is executed. See gas
, Bitcoin ATM
and crypto exchange