#CryptoFees101

What you need to know about cryptocurrency fees

Fees in the crypto world are essential for the functioning of blockchain networks, but they are often misunderstood. In simple terms, a crypto fee is the cost you pay for your transaction to be processed and validated by the network.

For example, in Bitcoin and Ethereum, these fees are paid to miners or validators as an incentive to keep the blockchain secure and operational. These fees can vary depending on network congestion: when there are many pending transactions, fees increase.

Additionally, each network has its own system. In Ethereum, 'gas fees' are especially known for being high during times of high demand. Other blockchains like Solana or Polygon offer lower and faster fees.

Understanding crypto fees is key to making informed decisions, especially if you make many transactions, trade, or interact with smart contracts.