In cryptocurrencies, a transaction fee (or simply 'fee') is a payment to the miners for adding a transaction into the blockchain.
- When a transaction has been included in the blockchain, it is considered 'confirmed'.
- The size of the fee sent with the transaction determines the confirmation time.
Please note that the fees are used to fund the running of the network and are not charged by SatoshiLabs. If you’re looking for fees connected to buying, selling, or exchanging cryptocurrencies in Trezor Suite, please refer to the transparent schedule of fees by Invity
Transaction fees in Trezor Suite
Trezor Suite allows you to determine the size of the fee to send with a transaction: low, economy, normal or high. It is also possible to set a custom fee.
- In the Send tab, simply select the fee from the available options (Low/Economy/Normal/High) or specify your own Custom fee
- The fee and estimated time are displayed directly beneath the fee selector bar:
It is essential that you ensure the fee is sufficient for the confirmation you are trying to achieve; sending a transaction with a fee that is too low might mean that the transaction never gets confirmed.