Why do we need commissions and who receives them?

[Ameralsamt 2558]

My friend you can say that transaction fees are charged by platforms and blockchain system, bitcoin does not have any fees in the first place, but these fees are set by the trading platforms, so fix the price increases like this. 

[Abrar1122 10]

I think you are talking about the transaction fee I think that is a what makes the cryptocurrency less useful because you need to pay the fee whenever you want to make the transaction and it is not easy to pay fee for all of the transactions

[Whited35 15285]

On 2/4/2021 at 9:04 PM, Abrar1122 said:

I think you are talking about the transaction fee I think that is a what makes the cryptocurrency less useful because you need to pay the fee whenever you want to make the transaction and it is not easy to pay fee for all of the transactions

Your transactions should be validated by the miners so the commission that you pay while processing the transaction is the network fee. You can use lowest transaction fee if you are okay to wait longer time to get transaction approved by the miners. I wonder why do you think like Bitcoin is less useful due to transaction fee? 

[Mansoor0 68]

The meaning of commission or fees differs from place to place. When Bitcoin appeared, we could not buy anything using cryptocurrencies and there weren't many platforms.

Now the fees when trading go to the platform.

When transferring from one wallet to another, you go to the wallet.

When you buy something, you go to the middleman between the buyer and the producer

[Crpto❤️ 55]

Yes you are right and I think that commission is no necessary in all transactions in fiat money and in digital world. And as much higher this commission will be then your work be done so easily. And i think this is bad for all community because if we can not give commission and less commission then our work could not be done so easily.

[Pereira 2303]

This is a working model for every transaction in the cryptographic world, since commissions influence transactions, if there are no commissions, the miners will not make the transactions and the higher the commission, the faster our transactions are made.  But there are ways to avoid these commissions which are to convert our cryptocurrencies with high commission rate to a cryptocurrency with low commission rate which is the waves, XRP, TRX, LTC, and so many more. This is the best way to avoid paying high transfer fees.

[Dadouasaad123 902]

I think that it is necessary for there to be a commission, and of course this commission is from the solution of maintenance work, and for every bitcoin value it needs a commission of its own, if its value increases, its commission increases

[Sp19a1ma019 1076]

Exchanger that provide us plateform for trading and transit Cryptocurrency from one place to another place they received that type of commission on the working.

[Mir Hamza 2888]

My friend, you have shared a very tremendous post with us. I also had a lot of talk when I bitcoin that whenever we do any transaction, then where does the commission come from? After all, which is the party that pays the commission and who goes to that commission, I am also very fragile to know about all this. 

[Adam786 560]

I think the owner of exchanges get the commission or we can say transaction fee because this is a common thing that no currency can transfer without paying the transaction fee . But the transaction fee or commission  of bitcoin is more than all other cryptocurrencies because its price is more than other cryptocurrencies.

[Samer1997 715]

I don't think I understood you well, but I think that the commission goes to the wallet from both sides or to the platform from both parties as well, depending on where you keep your money

[james653 981]

Transactions cannot be validated for free.  Miners need a price for their labor, as they need equipment maintenance.  Nothing can be done without payment.  It is very normal for there to be a commission.  If the commission is canceled, the Bitcoin will be much better.  But we will suffer from the problem of a lack of mining due to the high cost.

[علي سليمان 1071]

Of course, with a currency such as digital currencies, you need a commission, because there are some people who make money from that. Without the commission, digital currencies would not have been popular.

[HadiLord 926]

These commissions are necessary to continue servicing servers, workers and trading platforms, but the disadvantage is that the commission rates do not change with the change in the price of the currency, for example, the currency of Bitcoin rose this year a lot and the fees for its transactions remained the same, but the difference is that the fees against the dollar have become very high.

[hghadeer611 689]

Bitcoin transactions take a long time to document transactions, and we give miners commissions to document transactions faster, we cannot get anything comfortable without paying commission.