#CryptoFees101
When using digital currencies like Bitcoin or Ethereum, you often encounter something known as "fees." These fees are not random; they play an important role in operating the network and incentivizing its participants. Here’s a quick overview of the most important things to know:
✅ What are digital currency fees?
Digital currency fees are small amounts paid when sending or executing a transaction on a blockchain network. The fees vary depending on the currency, network activity, and type of transaction.
🔍 Why are fees imposed?
1. To compensate miners or validators who process transactions.
2. To prevent spam messages or attacks by reducing unnecessary transactions.
3. To improve execution speed – the higher the fee, the greater the priority of the transaction.
