#CryptoFees101 ๐Ÿ’ธ โ€“ Understanding the Cost of Crypto Transactions ๐Ÿ’ก

Ever sent crypto and wondered where did my money go? ๐Ÿค” Thatโ€™s the network fee at work!

Hereโ€™s a quick breakdown:

๐Ÿ”น Gas Fees โ€“ Common on Ethereum. You're paying miners/validators to process your transaction. Can spike during high traffic! โ›ฝ

๐Ÿ”น Exchange Fees โ€“ Centralized exchanges (like Binance or Coinbase) charge for buying, selling, or withdrawing.

๐Ÿ”น Withdrawal Fees โ€“ Vary by token & platform. Always check before moving your funds.

๐Ÿ”น Slippage โ€“ Not a fee, but a hidden cost! If the price shifts during your trade, you might get less than expected. ๐Ÿ“‰

๐Ÿ‘‰ Pro Tip: Use Layer 2 solutions like Arbitrum or Optimism to cut down on gas fees!

๐Ÿ’ผ The more you know, the more you save in crypto.

๐Ÿ” Share this with a friend who keeps asking โ€œWhy did I get less than I sent?โ€ ๐Ÿ˜