#CryptoFees101 💸 Crypto Fees : What Are You Really Paying For?

When you buy, sell, or move crypto, you’ll likely run into fees — and they can add up. Here’s a breakdown of the most common ones so you’re not caught off guard.

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🔁 1. Exchange Fees

When using platforms like Binance, Coinbase, or Kraken:

Trading Fees: Charged when you buy/sell crypto.

▸ Usually 0.1%–1% per trade, depending on your account level.

▸ Some platforms charge more for credit/debit card purchases.

Spread: Some platforms mark up the price slightly — especially with instant buys.

▸ It's a hidden fee, often 0.5%–2%.

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🚚 2. Network (Blockchain) Fees

These go to the miners or validators, not the exchange:

Bitcoin & Ethereum: Known for high network fees during congestion.

▸ ETH fees can spike during busy periods (known as gas fees).

▸ Example: $10–$50+ per transaction at peak times.

Other chains (Solana, Polygon, etc.): Much lower fees — sometimes just fractions of a cent.

💡 Tip: Use Layer 2s like Arbitrum or Optimism to reduce gas fees on Ethereum.

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🏦 3. Withdrawal Fees

When moving crypto off an exchange to your own wallet:

Fixed per coin (e.g., 0.0005 BTC to withdraw Bitcoin)

Can be much higher than network fees, especially on centralized exchanges.

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🔐 4. Wallet Fees

Most wallets are free, but some charge small fees for swaps or integrations.

Self-custody wallets (like MetaMask) may include gas fees + provider service fees (0.3%–1%).

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🧠 Final Tips

✅ Compare platforms before trading

✅ Avoid transacting during peak hours

✅ Learn about Layer 2 solutions

✅ Be mindful of small transactions — fees can eat your balance!