#CryptoFees101 #CryptoFees101: Understanding Transaction Costs

Crypto fees are payments required to process transactions on blockchain networks. These fees compensate miners or validators for securing the network.

Types of Fees:

1. Gas Fees (Ethereum): Paid in ETH, varying with network congestion.

2. Transaction Fees (Bitcoin): Based on transaction size and demand.

3. Protocol Fees (DeFi): Charged by platforms like Uniswap for swaps.

Factors Affecting Fees:

- Network congestion: Higher demand means higher fees.

- Transaction speed: Faster processing costs more.

- Blockchain type: Fees differ across networks (e.g., Solana often has lower fees than Ethereum).