#CryptoFees101 Understanding Cryptocurrency Fees Simply

Inside the crypto world, every click costs! Before you start trading or transferring, you need to know the types of fees you will encounter:

🔹 1. Network Fees:

These are commissions paid to miners or validators to confirm your transaction.

⬅️ For example: Gas Fee in Ethereum, which varies depending on congestion.

🔹 2. Trading Fees:

Commission when you buy or sell on platforms (Binance, OKX, etc.).

⬅️ It varies depending on whether you are a Maker or Taker.

🔹 3. Withdrawal Fees:

When you withdraw a currency from a platform to an external wallet.

⬅️ Each currency and each platform has its own pricing.

🔹 4. Funding Fees:

If you trade perpetual contracts, you will pay/receive funding based on market direction.

🔹 5. Hidden Fees:

Like the price difference (Spread) between buying and selling.

🚀 Tips to reduce fees: ✅ Use networks with low fees (Polygon, Solana).

✅ Don't trade during peak times.

✅ Monitor the details of each transaction before confirming it.

🔐 Crypto isn't free... but the smart move is to reduce costs 😉