#CryptoFees101 a beginner-friendly breakdown of the different fees you might encounter when dealing with cryptocurrency:

๐Ÿ’ธ #CryptoFees101 โ€“ Understanding Crypto Transaction Costs

๐Ÿ” 1. Network (Gas) Fees

What it is: Paid to blockchain validators/miners for processing transactions.

Varies by network:

Ethereum: Can be high during congestion.

Bitcoin: Depends on mempool activity.

Solana, Polygon, etc.: Usually low and fast.

Tip: Use during low-traffic times or Layer 2 solutions to save fees.

๐Ÿฆ 2. Exchange Fees

Types:

Trading fees: Charged when you buy/sell crypto.

Maker fee: Lower; you add liquidity.

Taker fee: Higher; you remove liquidity.

Withdrawal fees: Charged when moving funds out of the exchange.

Watch out for: Hidden markups in conversion rates.

๐Ÿ”„ 3. Swap Fees (DeFi)

Charged when swapping tokens on platforms like Uniswap or PancakeSwap.

Includes:

Liquidity provider (LP) fees.

Protocol fees.

Can be combined with gas fees (especially on Ethereum).

๐Ÿ’ผ 4. Wallet Fees

Some custodial wallets (e.g., PayPal, certain exchanges) charge fees for sending, receiving, or converting crypto.

Non-custodial wallets usually donโ€™t charge, but you still pay network fees.

๐ŸŒ‰ 5. Bridge Fees

If youโ€™re moving tokens between blockchains (e.g., ETH to BNB), you may pay:

Network fee (on both sides).

Bridge fee (for service).

๐Ÿ’ก Tips to Reduce Crypto Fees

Use Layer 2 networks (e.g., Arbitrum, Optimism).

Choose low-fee exchanges.

Bundle transactions when possible.

Avoid peak usage hours (check sites like ethgasstation.info).

โœ… Summary

> Crypto fees vary by platform, network, and usage. Understand what you're paying and when to avoid overpaying.