#TradingMistakes101
#CryptoFees101
When using cryptocurrencies 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 participants. Here’s a quick overview of the key things to know:
✅ What are cryptocurrency fees?
Cryptocurrency fees are small amounts paid when sending or executing a transaction on the blockchain network. Fees vary by currency, network activity, and type of transaction.
🔍 Why are fees charged?
1. To compensate miners or validators who process transactions.
2. To prevent spam or attacks by reducing unnecessary transactions.
3. To improve execution speed – the higher the fees, the greater the priority of the transaction.
