#CryptoFees101 Everything You Need to Know About Crypto Fees

When you work with cryptocurrencies, it's important to understand what fees are, why they exist, and how to minimize them. Let's break it down step by step 👇

🔍 What Are Crypto Fees?

Crypto fees are the costs for processing transactions on the blockchain. They are paid to miners ⛏ or validators 🛡 who ensure the security of the network.

📊 Main Types of Fees

1. Gas Fee (Ethereum and EVM Networks) ⛽

This is the cost of the 'fuel' needed to perform operations on the network (transfers, smart contracts)

2. Transaction Fee 💵

A standard fee for transferring coins (for example, in Bitcoin or Litecoin). Usually lower than Gas in Ethereum.

3. Exchange Fee 🔄

The exchange's fee for trading, withdrawing, or depositing funds.

💰 It can be fixed or percentage-based (0.1%–0.5%).

4. Withdrawal Fee 🚪

A fee for withdrawing funds from the exchange to an external wallet. It may vary depending on the network.

⚙️ Complexity of Operations: Smart contracts require more gas than a simple transfer.

🛡 How to Save on Fees?

✅ Choose the right network

USDT on the TRON network costs pennies, while on Ethereum it's expensive.

👉 Compare fees before sending.

✅ Monitor network congestion

✅ Use L2 solutions