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This is a complete beginner’s guide to Bitcoin fees in plain English. Learn what Bitcoin fees are, how they are calculated, how to free a “stuck” transaction and more.
Bitcoin transaction fees (sometimes referred to as mining fees) allow users to prioritize their transaction over others and get included faster into Bitcoin’s ledger of transactions known as the blockchain.
To determine whether to include a transaction in the blockchain is worth their while, miners will take a look at which transaction has the highest fee attached. Not paying enough fees can sometimes get your transaction stuck for a very long time.
0:27 – How miners prioritize transactions
2:43 – Feerate and calculating a Bitcoin transaction fee
6:26 – Saving on transaction fees
8:03 – How Bitcoin wallets deal with fees
9:08 – How to deal with stuck transactions
13:20 – Conclusion
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