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Encyclopedia

Trading Platforms

Trading platforms function as marketplaces, bringing together buyers and sellers of virtual currencies by providing them with a platform on which they can offer and bid among themselves. In contrast to exchanges, the trading platforms do not engage in buying and selling themselves. Some trading platforms give their customers the option of locating potential customers

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Transaction Fee

Transaction Fees are earned by miners when a transaction is completed. The minimum transaction fee required is determined by the “size” (kilobytes) of the transaction data. Most small transactions require a fee of about 0.0001 BTC and transactions with larger fees are given priority to be added to the block, so they are usually confirmed

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