#CryptoFees101 #CryptoFees101

Transaction fees on cryptocurrencies are an essential and often misunderstood part of trading and transactions. In summary, they are costs applied for using a blockchain. This fee compensates the miners or validators who process and protect the network.

Their variability is significant: they depend on the specific network (for example, Ethereum tends to be more expensive than Solana), current congestion, and the complexity of the transaction. The exchange platforms also impose their own fees for the services offered. Understanding how these fees work is crucial for optimizing your investment and transaction strategies in the dynamic world of cryptocurrencies.