💸 #CryptoFees101 — Where Does My Money Go?
Ever sent crypto and saw a “fee deducted” message? Here’s what it really means:
🔹 Network Fees (Gas Fees):
This is the cost of using the blockchain. On Ethereum, it varies with network congestion. On Solana, it’s usually just a few cents.
🔹 Exchange Fees (Trading Fees):
You pay a small fee to trade on platforms. On Binance, it’s typically 0.1% or less with a BNB discount.
🔹 Withdrawal Fees:
These include both exchange and network fees. Choosing cheaper networks like Arbitrum or TRC-20 can help you save a lot.
📌 Pro tip: Always double-check the network before sending — it could save you up to 90% in fees!
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🧠 Understanding fees is the first step to managing your crypto assets wisely.
