#CryptoFees101

Transaction fees in cryptocurrencies are a necessary cost to ensure the speed and security of the network. They vary based on network congestion and the type of currency; for instance, Bitcoin may have higher fees than Litecoin. They are paid to miners or validators as a reward for confirming transactions.

To reduce costs:

- Choose non-peak times.

- Use Layer 2 networks like the Lightning Network.

- Manually adjust Gas fees in Ethereum.

CryptoFees101 –

Transaction fees in cryptocurrencies are a necessary cost to ensure the speed and security of the network. They vary based on network congestion and the type of currency; for instance, Bitcoin may have higher fees than Litecoin. They are paid to miners or validators as a reward for confirming transactions.

To reduce costs:

- Choose non-peak times.

- Use Layer 2 networks like the Lightning Network.

- Manually adjust Gas fees in Ethereum.

⚠️ Warning: Low fees may slow down the transaction!