The very low fee for Bitcoin transfer is one of the issues that put the crypto money industry forward. Even million-dollar transfers can be made with very low fees.
$1.25 for a Million Dollar Bitcoin Transfer
Among the advantages offered by the cryptocurrency industry is that the transfer fees are very low. Even million-dollar transfers can be made with very low fees.
One of the last examples in this regard was the transfer of 8,692 Bitcoin. Only 0.0000652 Bitcoins were paid for this transfer. When we think of it in dollars, only 1.25 dollars were paid in the transfer of 166 million dollars. The transfer was cited as an example of Bitcoin’s superiority over the traditional banking system.
While the average transaction fee is $4.32 in the Bitcoin ecosystem, this fee varies a lot. In transactions that take place on the Bitcoin network, the transaction fee is determined by miner incentives. In the cryptocurrency ecosystem, even though the amounts transferred are huge, the transaction fees paid are quite low.