#CryptoFees101

CryptoFees101

All exchanges of cryptocurrencies, fees are not just a small number deducted, they are an important part of every transaction!

Types of basic fees:

1.Trading Fees:

You pay these to trading platforms like Binance when you buy or sell a currency. They vary depending on whether you are a Maker or a Taker.

2.Network Fees:

These go to miners or validators when you transfer your assets from one wallet to another.

Example: Ethereum fees can be higher during congestion.

3.Withdrawal Fees:

When you withdraw your coins from the platform to an external wallet.