transaction fees

Transaction fees are small charges paid to process a financial transfer or purchase, whether online or in person. They cover the costs incurred by banks, payment processors, or blockchain networks to verify and complete the transaction securely. For example, when you send money electronically or buy something with a credit card, a fee may be added to ensure the payment is processed correctly. These fees can vary depending on the provider, amount, and method of payment, and they help maintain the infrastructure needed for safe and reliable transactions.