What are mining fees?

Sending Bitcoin on-chain incurs what's called a network fee. These fees are paid out to the miners who confirm your transaction on the blockchain. Please note that Ember does not receive any of these fees.

Network fees in crypto can vary significantly, largely driven by network congestion and traffic. In short, if more transactions are going through the network, the fees will be higher as a result. This is why fees are typically much higher when crypto markets are doing well and much lower when they are stable or declining.

When sending funds on-chain in Ember, you will always be shown the calculated fee and will have to opportunity to back out if you find them too high. Understanding and monitoring these fees is crucial for managing your crypto transactions effectively, especially for those new to the crypto space.

What's a miner?

"A miner is an individual or entity that manages a node (or group of nodes) which are responsible for adding new transactions to blocks and verifying blocks created by other miners." In short, they are the ones who secure the Bitcoin network and confirm your transactions.

Please note: mining fees do not go to Ember.