What are Miner fees?

Miner fees are transaction fees. When coins are sent from one wallet to another, a miner must ensure that the transaction details are correctly entered into the blockchain. This task incurs a miner’s fee, the reward for the miner.

A miner confirms that the transactions are accurately recorded on the blockchain. The blockchain is the public ledger on which all Crypto transactions are recorded. The outcome of miners’ work is how blocks are formed and added to the blockchain, and the integrity of the crypto network is maintained. Miners are incentivized with small amounts of the coin for their work.

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