#CryptoFees101 💸 Types of Commissions in Cryptocurrencies

🔁 1. Network Fees

These are fees paid to miners or validators for processing transactions on the blockchain.

Bitcoin: Fees depend on network congestion.

Ethereum: They are called gas fees and vary widely.

Solana, Polygon, etc.: Generally have very low fees.

🏦 2. Exchange Fees

Platforms like Binance, Coinbase, or Bitso charge fees for trading.

Trading fees: A percentage for buying or selling (e.g., 0.1% – 0.5%).

Withdrawal fees: Charged when sending crypto to another location.

Deposit fees: Some platforms charge for depositing fiat money (USD, EUR, MXN).

👛 3. Wallet Fees

Some wallets also apply fees.

Non-custodial wallets (e.g., MetaMask): Only pay network fees.

Custodial wallets (e.g., Coinbase Wallet): May charge additional fees.

💳 4. Payment Processor Fees

When using crypto to pay for products or services (e.g., BitPay):

The merchant may pay a 1% fee.

Sometimes fees are charged for converting crypto to traditional currency.