#CryptoFees101 Understanding crypto fees has never been so simple!

Every transaction on the blockchain incurs fees. But what exactly are they? And why do they vary so much?

🔍 Here are the 3 main types of fees to know:

1️⃣ Trading Fee – The fee applied when you buy or sell crypto on an exchange like Binance.

💡 On Binance, you can reduce them to as low as 0% on selected pairs!

2️⃣ Withdrawal Fee – You pay this when you move crypto off the exchange.

👉 It depends on the blockchain used (e.g., Bitcoin, Ethereum, etc.).

3️⃣ Network/Gas Fee – This incentivizes validators to process your transaction on the network.

⚡ The more congested the network is, the higher the fee!

🎯 Knowing the fees helps you to:

✅ Optimize your operations

✅ Avoid surprises in costs

✅ Maximize your profits

🔁 Follow Binance for more tips on navigating the crypto world!