#CryptoFees101

In the world of blockchain, crypto fees 101 is important to understanding transactions within the blockchain. Every time you send or swap crypto, you will incur a fee to process the transaction. Transaction fees pay miners or validators who maintain the blockchain/platform. Each blockchain platform has it's own fees that have to do with the traffic and network congestion. Bitcoin and Ethereum generally have higher fees because of demand in traffic; notably Solana and Polygon are much faster and cheaper alternatives. Crypto exchanges are also important to understand fee structure (i.e. spot trading fees, withdrawal fees, and spreads). Before doing anything, you will need to look at network and platform fees. You can also look for ways to cut costs by utilizing Layer 2 solutions or batching transactions. It’s always a good practice to look at the fee structure/fees from you plan to trade or send assets from. It is much better to be surprised by how little you paid in user fees while trading or transferring then to find out how much you lost because you didn’t check the fees. Smart moves start with fee awareness.