$BTC

✍️ The simplified report on the image titled "Crypto Fees 101" explains the types of fees that a trader may encounter in the world of cryptocurrencies, which are as follows:

1. Trading Fees - Maker vs Taker:

- Maker Fees: Charged when adding liquidity (like limit orders).

- Taker Fees: Charged when removing liquidity (like market orders).

- Tip: Using BNB to pay fees on the Binance platform offers discounts.

2. Network Fees - Blockchain Fees:

- Ethereum Network Fees (Gas): Increase during network congestion.

- Cheaper alternatives: Such as BNB Chain or Layer 2 solutions.

- Tip: Use platforms with high liquidity to reduce the impact of price spreads.

3. Withdrawal Fees:

- Charged by platforms, not by the blockchain itself.

- Converting to lower-fee currencies like XRP or LTC can reduce costs.

4. Spread Costs:

- The difference between the buy price and the sell price is a hidden cost.

- Tip: Use platforms with high liquidity to minimize this cost.