What are Bitcoin miner fees?

Bitcoin miner fees are basically transaction fees. When Bitcoin is sent from one wallet to another, a miner is required to ensure that the transaction details are correctly entered into the blockchain. This task incurs a miner’s fee which is the reward that goes to the miner.

A miner confirms that Bitcoin transactions are accurately recorded on the blockchain. Blockchain is the public ledger on which all Bitcoin transactions are recorded. The outcome of miners’ work is how blocks are formed and added to the blockchain, and the integrity of the Bitcoin network is maintained. Miners are incentivized with small amounts of Bitcoin, usually a few satoshis, for the work they do.

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