What are the fees associated with using Monero?
The fees associated with using Monero depend on the type of transaction being made.
For example, when sending a transaction, users must pay a fee to the network in order to incentivize miners to include their transaction in the next block. This fee is known as the “miner fee” and is calculated based on the size of the transaction and its priority. The higher the priority of a transaction, the higher its miner fee will be.
In addition to miner fees, users may also be charged additional fees by exchanges or other services that facilitate Monero transactions. These fees can vary widely depending on the service provider and may include things like deposit/withdrawal fees, trading fees, and conversion fees. It is important to research any service provider before using them to ensure that you understand all associated costs.
