Crypto fees are a bit like toll fees on a road: they may seem small, but accumulated, they can slow down your journey to profit 🚗💸
There are several types of fees to know about:
⚙️ Maker fees: you add liquidity to the market by placing an order that is not executed immediately.
⚡ Taker fees: you take liquidity by executing an order immediately.
⛽ Gas fees: costs for executing transactions on certain blockchains.
💳 Withdrawal fees: costs related to transferring your assets to another wallet.
To limit these fees, I prioritize times of low congestion on the network, I choose platforms with competitive fees, and I use maker orders whenever possible.
Managing your fees is essential to maximize your gains!