What are the fees associated with using Bitcoin SV?
The fees associated with using Bitcoin SV depend on the size of the transaction and the network congestion.
The fees are paid to miners in order to incentivize them to process transactions on the network. The average fee for a standard transaction is currently around 0.0001 BSV (or $0.
0025 USD). This fee is subject to change depending on the amount of activity on the network, as miners prioritize transactions with higher fees. For larger transactions, users may choose to pay a higher fee in order to ensure that their transaction is processed quickly.
The maximum fee that can be paid for a single transaction is currently set at 0.2 BSV (or $5 USD). In addition, users may also choose to pay a “dust” fee when sending small amounts of Bitcoin SV (less than 0.
00001 BSV). This dust fee helps prevent spam transactions from clogging up the network and ensures that miners are compensated for their work.
