In 2021, Bitcoin Transactions Fees Have Dropped up to 60% ⬇️

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In 2021, Bitcoin Transactions Fees Have Dropped up to 60% ⬇️

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In news that will delight Bitcoin users, the BTC transaction cost has dropped to $1.80 from the highs of $4.40. 

The drop can be attributed to many factors, including the increasing coverage of Bitcoin Lightning Network, which processes transactions off-chain.

Every Bitcoin transaction attracts a fee, which is then divided among the miners. The transaction fees are higher when the Bitcoin network is congested as the demand for miners to process the BTC transactions is higher than what is available during those times.

The highest Bitcoin transaction fees were observed on April 21, when the Chinese Bitcoin miners were facing an outage. At that time, BTC transaction cost touched an all-time high of $62.8.

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