#CryptoFees101 #CryptoFees101

Crypto fees are charges users pay when transacting on a blockchain. These fees compensate miners or validators for processing transactions and securing the network. Fees vary by blockchain—Bitcoin and Ethereum often have higher fees due to network congestion, while others like Solana or Polygon offer cheaper alternatives. There are two main types: network fees (e.g., gas on Ethereum) and platform fees (charged by exchanges or wallets). Fee spikes can occur during high demand. Using layer 2 solutions or scheduling transactions during off-peak times can help reduce costs. Always check fees before confirming a transaction.