#CryptoFees101 - What are you really paying for? 🔍

Regardless of whether you're a beginner or a seasoned trader, understanding cryptocurrency fees is vital to ensuring you maximise your profits. In #CryptoFees101, we break them down:

There are generally three main kinds of fees in crypto:

1️⃣ Trading Fees – These will be charged when you buy or sell on an exchange - these are normally a small percentage like 0.1% and can vary for market makers vs. takers

2️⃣ Withdrawal Fees – Fees charged when you move an asset off an exchange and back to a wallet, and can vary about what the levels are - and charge fees depending on the network (so ETH = gas fees, BTC = mining fees etc).

3️⃣ Network/Gas Fees – The fees that go directly to the miners or validators depending on the blockchain you're on that pay them for them to process your transaction on-chain. This is particularly relevant on Ethereum, and also other Layer 1s.

✅ Pro Tip: Use layer 2 networks or exchanges that have discount fees (like using native tokens) can save you thousands over the long run.

🔄 Always utmost always consider fees into your trading strategy as sometimes the "cheapest" trade is not as it seems...