#CryptoFees101

In the world of cryptocurrency, one of the key things users often encounter is “fees” for various actions such as transferring, buying, or selling. Typically, when sending crypto from one person to another, a transaction fee is required. This fee is paid to miners or validators on the blockchain. On networks like Bitcoin or Ethereum, these fees can increase during times of high traffic or congestion.

When trading on a crypto exchange, there are usually maker/taker fees. For example, platforms like Binance or Coinbase may charge between 0.1% to 0.5% per trade. When converting between coins, especially stablecoins, there might also be a slippage fee depending on the price movement.

On DeFi (Decentralized Finance) platforms, using smart contracts often involves paying gas fees—particularly on Ethereum, where these can sometimes be quite high.

Understanding which fees apply, and when, is essential for anyone looking to use or invest in crypto efficiently and effectively.