#CryptoCharts101
#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 most important 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 based on the currency, network activity, and type of transaction.
🔍 Why are fees imposed?
1. Compensating miners or validators who process transactions.
2. Preventing spam messages or attacks by reducing unnecessary transactions.
3. Improving execution speed – the higher the fee, the greater the priority of the transaction.
