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MarkRoberts
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why are there exchanges that charge transaction fees if bitcoin is decentralized

Mon Mar 08, 2021 9:50 am

Exchanges are centralized. Bitcoin is not. And exchanges charge withdrawal and trading fees, not transaction fees. You pay transaction fees when you send bitcoin, and they go to a random miner.


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WalletInvestor
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Re: why are there exchanges that charge transaction fees if bitcoin is decentralized

Mon Mar 08, 2021 10:16 am

Yes, you are right, transaction fees go to miners, for their effort in validating the transaction. Plus exchanges charge their own fees for different things. Trading decentralized currencies on centralized exchanges is the most common reality at the moment, it's a little ironic.
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