#CryptoFees101 is your beginner-friendly guide to understanding the costs involved in using cryptocurrencies. Whether you're sending Bitcoin, swapping tokens on Ethereum, or minting an NFT, crypto transactions often come with fees—and they can vary a lot depending on the network and activity.
There are generally two main types of crypto fees:
1. Network Fees (Gas Fees) – These are paid to blockchain validators or miners who process and confirm your transaction. On blockchains like Ethereum, high demand can drive gas fees up, sometimes costing more than the transaction itself.
2. Platform Fees – If you use a crypto exchange (like Coinbase or Binance) or a DeFi platform (like Uniswap), they often charge additional service or trading fees on top of network fees.
Why do fees matter? They affect how much value you get out of your crypto. Smart users know to check fees before moving money, swapping tokens, or using dApps.
Tips: Use Layer 2 solutions (like Arbitrum or Polygon) to cut costs, or time your transactions when network activity is low.
Knowledge is profit—literally. 💸