#CryptoFees101
What are cryptocurrency fees?
#CryptoFees101
Fees in cryptocurrencies are small amounts paid when executing transactions such as transfers, trading, or withdrawals of currencies. They vary depending on the network and platform.
๐ Types of fees in crypto:
#CryptoFees101
Trading Fees
Withdrawal Fees
Network Fees (or Gas Fees)
Deposit Fees โ often free
๐ How to reduce fees?
#CryptoFees101
โ Use cheaper networks (e.g., TRC-20 instead of ERC-20)
โ Use platform tokens (BNB on Binance to reduce trading fees)
โ Monitor network timing to avoid congestion
๐งช Practical example:
#CryptoFees101
If you send USDT via the ERC-20 network, you might pay high fees (sometimes +$10)
๐ while the same transaction on TRC-20 costs less than $1
๐ Did you know?
#CryptoFees101
Platforms like Binance offer discounts on fees when using their native token (BNB)
๐ Every trade is subject to a fixed percentage (usually 0.1%)
