What are mining fees?

Mining fees are small amounts of Bitcoin that you pay to get your transactions confirmed by the network. The fees are paid to miners, who are special computers that secure the network and confirm transactions. These fees ensure that your transactions are processed quickly and securely. Blink does not keep any of the transaction fees, they go directly to the miners.

The amount of mining fees you need to attach to your transaction depends on several factors, including the congestion level of the network, the size of your transaction in bytes, and the current demand for block space. During times of high network traffic, fees tend to increase, and during times of low traffic, fees tend to decrease.

If the mining fees calculated are more than the 10% of the amount you are preparing to send Blink will show a notification: High fee! We recommend Lightning.