💸 Fees in the Crypto World… They may seem simple but they eat into your profits!
When trading on platforms like Binance or Coinbase, fees are charged for every buy or sell transaction. Over time, these fees can make a significant difference in your balance!
🔍 Types of Basic Fees:
🔹 Maker Fee: Charged when you place an order that doesn't execute immediately (meaning you add liquidity to the market).
🔸 Taker Fee: Charged when you execute an order directly from the order book (meaning you take liquidity from the market).
📊 Fees vary based on:
Your monthly trading volume.
Your account level (VIP or regular).
The type of currency used for payment (for example: using BNB reduces fees on Binance).
⚠️ And don't forget:
Some wallets and networks like Ethereum impose additional fees known as Gas Fees, which can sometimes increase significantly during network congestion!
🧠 Tip: Keep a close eye on the fees before any trade… because uncalculated trades = silent losses in the long run!
