What is a blockchain fee?

A blockchain fee, also known as 'network fee', is a fee you pay when you send crypto on the blockchain, from your address to another. The fee is the payment for the mining, i.e. the process through which cryptocurrency transactions are gathered, verified, and recorded into a digital ledger known as the blockchain.

The actual fee you pay will vary according to the cryptocurrency you use. For example, a Bitcoin transaction will have a different fee in comparison to transactions placed on the Bitcoin Cash or Litecoin network.

Sending crypto to another Quickbit user is free.