High Priority: Likely to be included in the next block (10 minutes). Best for urgent transactions.
Medium Priority: Likely to be included within 3 blocks (30 minutes). Good balance of cost and speed.
Low Priority: Likely to be included within 6 blocks (1 hour). Most economical option for non-urgent transactions.
Transaction fees are paid to miners and are based on transaction size in bytes, not the amount being sent.