How is The Total Cost of an Inscription Determined?
There are three costs associated with the final price of each inscription.
- A fixed cost per inscription created which is predetermined by the collection Creator.
- A handling fee which covers postage (usually 1,000 Sats that is sent back to the Buyer with their inscription) and a variable fee.
- A network fee which covers the cost of creating the inscription on the Bitcoin blockchain. This is paid to Bitcoin miners.
How network fees are determined on Bitcoin
Fees on the Bitcoin network can vary depending on the current demand for block space, or network congestion. Individual users submit transactions to the network where they wait to be validated and included in a block. Bitcoin miners validate those transactions and include them on the blockchain. Bitcoin miners are paid these fees for the service they provide.
Depending on how many transactions are being submitted at the same time the fees may fluctuate. Each wallet will provide an estimated network fee for each transaction.
Miners will reorganize transactions going into a new block based on the fees paid to increase their profitability. This means that the higher the fee (determined by sats/vbyte) the quicker the transaction will be put into a block.
Display of final cost
You can view the individual and final costs associated with your inscription purchase via the mint-link. All of this information can be found in the “Purchase Info:” section.
- A fixed cost per inscription created which is predetermined by the collection Creator.
- A handling fee which covers postage (usually 1,000 Sats that is sent back to the Buyer with their inscription) and a variable fee.
- A network fee which covers the cost of creating the inscription on the Bitcoin blockchain. This is paid to Bitcoin miners.
How network fees are determined on Bitcoin
Fees on the Bitcoin network can vary depending on the current demand for block space, or network congestion. Individual users submit transactions to the network where they wait to be validated and included in a block. Bitcoin miners validate those transactions and include them on the blockchain. Bitcoin miners are paid these fees for the service they provide.
Depending on how many transactions are being submitted at the same time the fees may fluctuate. Each wallet will provide an estimated network fee for each transaction.
Miners will reorganize transactions going into a new block based on the fees paid to increase their profitability. This means that the higher the fee (determined by sats/vbyte) the quicker the transaction will be put into a block.
Display of final cost
You can view the individual and final costs associated with your inscription purchase via the mint-link. All of this information can be found in the “Purchase Info:” section.
Updated on: 08/03/2024
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