Certified Bitcoin Professional Practice Exam

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Prepare for the Certified Bitcoin Professional Exam. Tackle multiple-choice questions, accompanied by hints and explanations, to master the principles of Bitcoin and blockchain technology. Enhance your readiness and confidence!

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

Practice this question and more.

Should you always pay a fee when sending a Bitcoin transaction?

Yes, or it may not arrive
No, fees are optional
Only for large transactions
Only if requested by the sender

The correct answer is: Yes, or it may not arrive

Paying a fee when sending a Bitcoin transaction is generally necessary because Bitcoin transactions are processed by miners who include them in the blockchain. When you send a transaction, miners prioritize those with higher fees since they incentivize faster processing. If no fee is paid, your transaction might not be included in a block in a timely manner, or it might remain unconfirmed for a long period or even indefinitely. Therefore, paying a fee increases the likelihood that your transaction will be processed quickly and reliably. While it is technically possible to send a transaction without a fee, doing so could lead to delays or the transaction being dropped altogether. This makes it crucial to attach a fee to ensure that a transaction arrives at the destination efficiently. In contrast, options regarding the necessity of fees for large transactions or upon the sender's request overlook the fundamental operation of the Bitcoin network, where fees serve as an incentive for miners regardless of transaction size or any informal requests.