#CryptoFees101 A $500,000 Mistake You Can’t Ignore 😳

Imagine sending a crypto transaction and accidentally paying $500,000 in fees. Sounds insane, right? But it actually happened in September 2023. One user ended up burning over 300 ETH—just to move some funds.

This wasn’t a scam. It was a simple mistake. One wrong number. One small slip. And poof — half a million dollars, gone.

So What Are These “Fees”? 🤔

Every time you make a transaction on a blockchain (like Ethereum), you pay a fee — also called “gas.”

Here’s why they exist:

🔥 They reward validators/miners for confirming your transaction

🛡️ They protect the network from spam and overload

Why It Matters to YOU 💡

Fees change depending on how busy the network is.

📈 High traffic? Higher fees.

📉 Slow day? Lower fees.

If you set your fee too low, your transaction could get stuck.

If you set it too high, well… you already know. 💸

Most wallets auto-suggest a fee, but that doesn't mean you skip checking. That 2-second double-check? It can save you thousands.

This one user was lucky — the mining pool returned the funds.

But you might not get a second chance.

Lesson: Always check the fee. Always. ✅