Cryptocurrency Q&A
Who pay the transaction fee?
Who pay the transaction fee?
Elena
Thu Oct 10 2024
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6 answers
1280
I am wondering who is responsible for paying the transaction fee during a financial transaction. Is it the buyer, the seller, or does it depend on the specific transaction?
6 answers
Riccardo
Sat Oct 12 2024
Transaction fees vary depending on the payment processor used. Some charge a percentage of the transaction amount, while others opt for a flat rate.
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BlockchainBrawler
Sat Oct 12 2024
These fees are typically borne by the merchant, as they are seen as the cost of doing business. However, the responsibility for paying these fees can shift in certain circumstances.
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CryptoWanderer
Sat Oct 12 2024
For instance, if a merchant participates in a credit card surcharge program, the cost of the transaction fee may be passed on to the cardholder. This means that the cardholder ends up paying a higher amount for the purchase.
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EmeraldPulse
Fri Oct 11 2024
The decision to pass on transaction fees to cardholders is not a common practice, but it can happen in specific scenarios. It's important for consumers to be aware of this possibility and understand the implications it has on their purchases.
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Ilaria
Fri Oct 11 2024
BTCC, a leading cryptocurrency exchange, offers a range of services that cater to the diverse needs of its users. These services include spot trading, futures trading, and a secure wallet for storing digital assets.
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