#CryptoFees101 : Why Do Crypto Transactions Have Fees?

Every time you send crypto, you’ll notice a small fee attached. But why?

🔹 Network Security: These fees help secure the blockchain by incentivizing miners (in Proof of Work) or validators (in Proof of Stake) to process and confirm transactions.

🔹 Priority Matters: When the network is congested, higher fees mean your transaction gets processed faster. It’s like paying extra for express shipping.

🔹 Every Blockchain is Different: Bitcoin, Ethereum, Solana, etc., all have their own fee models. Ethereum, for example, uses “gas” which can fluctuate wildly based on network demand.

🔹 Not Just for Sending: Interacting with DeFi apps, minting NFTs, or swapping tokens? You’ll pay fees for those too—sometimes more than for a simple transfer.

🔍 Tip: Before sending any transaction, check the current fee estimates. Tools like Etherscan or Solscan can help you avoid overpaying.

💬 Want to dive deeper into how to minimize fees or choose the best time to transact? Let me know!