#CryptoFees101 1️⃣ What are transaction fees?

They are small amounts paid to approve and confirm your transaction on the blockchain. They are paid to miners (in systems like Bitcoin) or to validators (in networks like Ethereum).

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2️⃣ Common types of fees

🔸 Network Fees

Also known as Gas Fees in the Ethereum network.

They vary depending on network congestion.

The higher the demand on the network, the higher the fees.

🔸 Transfer Fees

Charged by platforms when sending currencies from your account to an external wallet.

Example: Binance or Coinbase charge fees when withdrawing assets.

🔸 Trading Fees

Charged when buying or selling currencies within platforms.

They differ between "Maker" and "Taker."

🔸 Deposit & Withdrawal Fees

Some platforms charge fees for deposits or withdrawals in fiat currencies (like USD or EUR).

Deposits in cryptocurrencies are often free.