#CryptoFees101

Crypto fees, often called transaction or gas fees, are charges users pay to process transactions on a blockchain. They vary by network, congestion, and transaction complexity. Here's a quick breakdown:Bitcoin: Fees depend on transaction size (in bytes) and network demand. Miners prioritize higher-fee transactions. Average fees range from $0.50-$5 but can spike during congestion (e.g., $60 in 2021 peaks).

• Ethereum: Gas fees cover computational work. Paid in ETH, they fluctuate with network activity and gas price (in gwei). Simple transfers might cost $1-$10; complex smart contract interactions can hit $50+.

• Layer 2 Solutions: Networks like Polygon or Arbitrum reduce Ethereum fees (often <$1) by processing transactions off-chain while leveraging Ethereum's security.

• Other Chains: Solana, Cardano, and BNB Chain typically have lower fees ($0.0001-$1) due to higher throughput or different consensus mechanisms.

• Tips to Save: Use Layer 2s, wait for low network activity, or batch transactions. Tools like gas trackers (e.g., Etherscan) help time transactions.

Fees incentivize miners/validators and secure networks but can be a pain during spikes. Always check current network conditions before transacting. Want specifics on a chain or fee-saving strategy?