Continuing with #CryptoFees101 ? Alert!
You might fall victim to the silent profit killer: cryptocurrency fees. Although they often go unnoticed, these fees can make the difference between a successful wallet... and a losing one.
Most common types of fees:
Maker/Taker fees: when receiving or providing liquidity. On Binance, "makers" pay less.
Network fees: payments for validating transactions. On Ethereum, they can be very high during congestion periods.
Swap fees: in decentralized exchanges, every token swap incurs liquidity fees.
Withdrawals: every exchange charges a fee for withdrawing funds to an external wallet.
According to a report by The Block, traders who do not optimize their fees can lose up to 12% of their annual returns. It's a mistake that can be avoided.