BitcoinIntermediate

Fee rate

A transaction fee stated per unit of transaction size or weight-derived size.

PLAIN-ENGLISH DEFINITION

In more detail

Bitcoin wallets commonly quote fee rates in satoshis per virtual byte. The total fee depends on both that rate and the transaction's virtual size. A higher rate can make inclusion more attractive to miners, but the pending transaction set and block space still affect when confirmation occurs.

IN THE WILD

How you might use it

"Same fee rate, different total fee?" Your Bitcoin transaction's virtual size also affects the satoshi amount it pays.

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By Crypto Dictionary · Published · Updated

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