Understanding Transaction Fee

Every transaction on behalf of a cryptocurrency attracts transaction fees. These fees serve multiple purposes which are crucial for blockchains smooth performance.

Incentive for Miners Miners validate transactions in a blockchain. Transaction fees are used by miners as an incentive to include your transaction in the subsequent block.

Preventing Spam 
Transaction fees are also high in blockchain networks, but they keep the network protected from spam attacks and avoid overload.

Confirmation Speed Higher fees may translate to quicker confirmation times that may prove crucial for urgent cases.