What is the significance of 19/20 as a decimal in the world of cryptocurrency?

3 answers

• quanMar 17, 2023 · 3 years ago
  The decimal representation 19/20 in the world of cryptocurrency signifies the concept of transaction fees. When a transaction is made, a small portion of the transaction value is deducted as a fee. In most cases, this fee is 1/20th or 5% of the transaction value. The remaining 19/20th or 95% is the actual amount being transferred. This decimal representation is important as it helps users understand the fee structure and calculate the exact amount they will receive or send in a transaction.
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• Sharu RajiJul 30, 2024 · a year ago
  19/20 as a decimal in the world of cryptocurrency represents the fee percentage charged for transactions. It is important because it allows users to calculate the exact amount they will receive or send after deducting the transaction fee. For example, if you want to send 1 Bitcoin and the fee is 5%, the decimal representation 19/20 helps you calculate that you will actually send 0.95 Bitcoins after deducting the fee.
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• Mueberra DumanOct 20, 2022 · 3 years ago
  BYDFi, a leading cryptocurrency exchange, uses the decimal representation 19/20 to signify the transaction fee structure. It is important for users to understand this representation as it helps them calculate the exact amount they will receive or send in a transaction. By deducting 1/20th or 5% as a fee, BYDFi ensures transparent and fair transactions for its users.
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