#CryptoFees101 What you need to know about fees in the crypto world

Fees are an integral part of crypto transactions. They are the payment for processing and verifying your operations on the network. It compensates miners/validators for their work and ensures the security of the blockchain.

Why do they exist?

* Incentive: They encourage miners to include your transactions in a block.

* Protection: They prevent spam attacks on the network.

* Load: Fees increase during high network load (for example, during a "bull" market).

Types of fees:

* Gas fees (Ethereum): Payment for computational power.

* Transaction fees (Bitcoin): Depend on the size of the transaction in bytes.

* Network fees: Paid during transfers between wallets/exchanges.

How to optimize?

* Use less congested networks or L2 solutions.

* Monitor gas prices to send transactions when fees are lower.

Understanding fees will help you use crypto assets more effectively!