#CryptoFees101 What Are Crypto Transaction Fees?

In crypto, transaction fees are small amounts you pay to get your transaction confirmed by the network. Here’s what you need to know:

🔹 Why Fees Exist:

They incentivize miners/validators to process your transaction and secure the blockchain.

🔹 BTC & ETH Fees:

Bitcoin fees depend on transaction size (in bytes), not the amount being sent.

Ethereum fees are based on gas price × gas used – they vary with network congestion.

🔹 Fee Types:

Fixed Fees: Some wallets set a flat fee (not always optimal).

Dynamic Fees: Adjust based on current network demand (more efficient).

🔹 Higher Fees = Faster Confirmation.

If you’re in a hurry, paying a higher fee can push your transaction into the next block.

🔹 Too Low?

You might get stuck in the mempool for hours... or even days.

🔹 Layer 2s & L1 Alternatives:

Use Lightning Network, Optimism, Arbitrum, or Solana to get lower fees for similar tasks.

💡 Pro Tip: Always check the current fee market on platforms like mempool.space (for BTC) or etherscan.io/gastracker (for ETH) before sending#Write2Earn #Write2Earn!