#CryptoFees101 ๐ธ โ Understanding the Cost of Crypto Transactions ๐ก
Ever sent crypto and wondered where did my money go? ๐ค Thatโs the network fee at work!
Hereโs a quick breakdown:
๐น Gas Fees โ Common on Ethereum. You're paying miners/validators to process your transaction. Can spike during high traffic! โฝ
๐น Exchange Fees โ Centralized exchanges (like Binance or Coinbase) charge for buying, selling, or withdrawing.
๐น Withdrawal Fees โ Vary by token & platform. Always check before moving your funds.
๐น Slippage โ Not a fee, but a hidden cost! If the price shifts during your trade, you might get less than expected. ๐
๐ Pro Tip: Use Layer 2 solutions like Arbitrum or Optimism to cut down on gas fees!
๐ผ The more you know, the more you save in crypto.
๐ Share this with a friend who keeps asking โWhy did I get less than I sent?โ ๐