#CryptoFees101 Understanding Crypto Fees

Crypto fees are charges associated with transactions on a blockchain network. These fees can vary depending on the type of transaction, network congestion and the cryptocurrency being used.

Types of Crypto Fees

- *Transaction Fees*: Paid to miners or validators for processing transactions on the blockchain. These fees incentivize miners to secure the network and verify transactions.

- *Network Fees*: Charged for interacting with smart contracts or decentralized applications (dApps) on a blockchain.

- *Exchange Fees*: Charged by cryptocurrency exchanges for buying, selling or trading cryptocurrencies. These fees can include trading fees, withdrawal fees and deposit fees.

- *Wallet Fees*: Some cryptocurrency wallets charge fees for transactions, deposits or withdrawals.

Factors Affecting Crypto Fees

- *Network Congestion*: High network activity can increase transaction fees as users compete for limited block space.

- **Transaction Size