Assets, Bitcoin

What Is the Fee for Sending Bitcoin?

Bitcoin is a digital asset and a payment system invented by Satoshi Nakamoto. payments are verified by network nodes through cryptography and recorded in a public dispersed ledger called a blockchain.

Bitcoin is unique in that there are a finite number of them: 21 million.

Bitcoins are created as a reward for a process known as mining. They can be exchanged for other currencies, products, and services.

As of February 2015, over 100,000 merchants and vendors accepted bitcoin as payment.

The European Banking Authority and other sources have warned that bitcoin users are not protected by refund rights or chargebacks. The use of bitcoin by criminals has attracted the attention of financial regulators, legislative bodies, law enforcement, and the media.

NOTE: Warning: Sending Bitcoin can be a risky process, and the fee associated with this process can vary depending on the amount of Bitcoin being sent. Before sending Bitcoin, it is important to research and understand the fee associated with sending it, as well as any other associated risks. It is also important to confirm the accuracy of the recipient’s address before sending any Bitcoin to ensure that your funds are received safely.

The FBI prepared an intelligence assessment, entitled Virtual Currency: Emerging Threats to National Security and Law Enforcement, which identified virtual currency as a Target for cybercrime.

In July 2013, a project began in Kenya linking bitcoin with M-Pesa, a popular mobile payments system, in an experiment designed to spur innovative payments in Africa. During the same month the Foreign Exchange Administration and Policy Department in Thailand stated that bitcoin lacks any legal framework and would therefore be illegal, which effectively banned trading on bitcoin exchanges in the country.

In September 2017 the Bank of Russia issued legal advice against buying bitcoins.

What Is the Fee for Sending Bitcoin?

The fee for sending Bitcoin depends on how much Bitcoin you are sending and whether you are sending it domestically or internationally. For domestic transfers within the US, the fee is typically $0.01-$0.03 per transaction.

For international transfers, the fee is typically $0.05-$0.10 per transaction.

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