#BigTechStablecoin

#CryptoFees101

#CryptoFees101 – A Quick Guide to Understanding Crypto Fees

💸 1. Fees Are Not Just Deductions!

In the world of crypto, every transaction (buying, selling, transferring, withdrawing) has fees. But they vary depending on the platform, the network, and the type of transaction.

🔁 2. Types of Fees:

Trading Fees:

When you buy or sell a currency, the platform takes a small percentage (usually between 0.1% – 0.5%).

👥 Sometimes it differs between Maker (the one placing the order) and Taker (the one executing 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 currency to an external wallet. It varies by network (TRC20 is often cheaper than ERC20).

Network Fees:

Like gas, but they sometimes appear in transfers from wallets like MetaMask.

🧠 3. Tips to Reduce Fees:

Use cheap networks (like BNB Smart Chain or TRON).

Trade larger amounts to make the fees a smaller percentage.

Take advantage of platform discounts (like a discount if you pay fees using BNB on Binance).

🚨 4. Beware!

Some currencies automatically deduct fees when withdrawing or transferring (like Burn Fees), so don't be shocked if you receive a lesser amount.