The term Crypto Fees 101 usually refers to a simplified and basic explanation (beginner level) of transaction fees in the world of cryptocurrencies (crypto). Here is a detailed and simplified explanation:

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💰 What are cryptocurrency fees (Crypto Fees)?

Crypto fees are small amounts paid when sending or executing a transaction on the blockchain network. They are paid as rewards to participants who process and secure transactions (such as miners or validators).

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🔍 Why are there fees in cryptocurrencies?

1. Incentivizing processors (such as miners or Validators)

Users pay these fees to incentivize participants in the network to validate and include transactions in the blockchain.

2. Preventing spam

The fees prevent users from flooding the network with a huge number of unnecessary transactions.