Join the BitcoinNews Telegram channel for daily updates >>LINK

Bitcoin All-Time Transaction Feeds Have Just Exceeded $1 Billion

Support free writers: > send a tip

written by

The all-time total of transaction fees collected by miners has just exceeded USD 1 billion. Most of this USD 1 billion has been collected in just the past three years, since before 2017 activity on the Bitcoin network was much lower relative to now.

When sending Bitcoin, a small fee is required, and this averages around USD 1 currently, but for most of Bitcoin’s history, the fee has often been as little as USD 0.01. This fee is paid to miners, in order to incentivize miners to continue securing the network. Unlike with fiat payment methods that often charge a percentage fee when sending money, Bitcoin only charges a small flat fee no matter if you are sending USD 10 or USD 1 billion.

This milestone indicates that the Bitcoin network is highly active, and also indicates that miners will have a revenue stream in the future even as block rewards approach zero. Essentially, increasing cumulative transaction fees across the Bitcoin network guarantees that the Bitcoin network will continue to be secure long term, since miners will earn enough revenue from transaction fees alone once there are no more block rewards. is committed to unbiased news and upholding journalistic codes of ethics. For more information please read our Editorial Policy here.

Follow on Twitter: @bitcoinnewscom
Telegram Alerts from

Image Courtesy: Pixabay

Help spread this article :) is NOT INVESTMENT ADVICE

Opinions expressed are entirely their own and do not necessarily reflect those of

For informational purposes only. Individuals and entities should not construe any information on this site as investment, financial, legal, tax, accounting or other advice. Information provided does not constitute a recommendation or endorsement by to buy or sell bitcoin, cryptocurrencies or other financial instruments. Forecasts are inherently limited and cannot be relied upon. Do your own research and consult a professional advisor. The opinion of authors do not reflect those of 


Read More Bitcoin News


The Tragedy of Fiat Money

Over the course of the last 18 years, the European Central Bank (ECB) printed new currency, multiplying money supply by more than 5 times, bringing it to 1308 billion. Here we discuss whether or not the central bank’s actions could be considered a robbery.

Read More »


Join our Newsletter

Video of the Week


Latest on Bitcoin News

Join our Newsletter