#CryptoFees101 โ€“ Understanding Fees in Crypto Trading ๐Ÿ’ธ๐Ÿ”

Every crypto transaction involves some form of fee. Here's what you should know:

๐Ÿ”น Network (Gas) Fees:

Charged by the blockchain network to process transactions.

โžก๏ธ High on Ethereum, low on Solana or Polygon.

๐Ÿ”น Trading Fees:

Exchanges (like Binance, Coinbase) charge Maker/Taker fees.

โœ”๏ธ Maker: Lower fee for placing limit orders.

โœ”๏ธ Taker: Higher fee for market orders.

๐Ÿ”น Withdrawal Fees:

Charged when transferring crypto out of an exchange.

๐Ÿ”น Hidden Costs:

Beware of slippageโ€”price changes during execution can affect your total cost.

๐Ÿ’ก Pro Tip: Use low-fee chains or DEXs during off-peak hours!