โฝ Understanding Gas Fees in Crypto! ๐ฐ๐
Ever wondered why you pay fees when sending crypto? Those are Gas Fees โ the cost of processing transactions on a blockchain! ๐ฅ
๐ Why Do Gas Fees Exist?
๐น Gas fees pay miners/validators to secure the network! ๐
๐น When demand is high, fees increase due to network congestion! ๐ฆ
๐ Gas Fees by Blockchain:
โ Ethereum (ETH) โ High fees due to congestion but powerful smart contracts! ๐๏ธ
โ BNB Chain (BSC) โ Lower fees & faster transactions! โก
โ Polygon (MATIC) โ Super low fees & great for scaling! ๐ฅ
๐ก Pro Tip: Use Layer 2 solutions & low-traffic times to save on fees! ๐
๐ Which blockchain do you prefer for lower gas fees? Comment below! ๐๐ฌ