#CryptoFees101
#CryptoFees101 – Quick Guide to Understanding Crypto Fees
💸 1. Fees are not just discounts!
In the world of crypto, every transaction (buying, selling, transferring, withdrawing) incurs fees. But they vary depending on the platform, network, and type of transaction.
🔁 2. Types of fees:
Trading Fees:
When you buy or sell a coin, the platform takes a small percentage (usually between 0.1% – 0.5%).
👥 Sometimes they differ between Maker (the one who places the order) and Taker (the one who executes the order).
Gas Fees:
Used by networks like Ethereum to run transactions.
⛽ The price depends on network congestion. You might pay $1 or $50!
Withdrawal Fees:
When you withdraw your coin to an external wallet. They vary by network (TRC20 is usually cheaper than ERC20).
Network Fees:
Like gas, but they sometimes appear in transfers from wallets like MetaMask.
🧠 3. Tips to reduce fees:
Use cheaper networks (like BNB Smart Chain or TRON).
Trade larger amounts to make fees a smaller percentage.
Take advantage of platform discounts (like discounts if you pay fees using BNB on Binance).
🚨 4. Beware!
Some coins automatically reduce fees upon withdrawal or transfer (like Burn Fees), so don’t be shocked if you receive a lesser amount.
