#CryptoFees101
✨Small decisions can save you a lot in the long run.
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How to reduce commissions in cryptocurrency trading
Understanding commissions is key to improving your profits in the crypto world. I will explain the most important types and how to reduce them.
🔵Trading commissions
These are the fees you pay to the exchange every time you buy or sell cryptocurrencies.
-Maker orders (when you provide liquidity to the market) usually have lower fees.
-Taker orders (when you take existing liquidity) are faster but more expensive.
🔵Withdrawal fees
This is the cost you pay to withdraw your crypto assets from the exchange to your personal wallet. It varies by coin and exchange.
🔵Network fees (Gas fees)
This is the "toll" to validate your transaction on the blockchain (for example, Ethereum).
The price changes with network congestion, so it's advisable to make moves during times of low activity.
🧠 How to pay less🤔
🔸 Compare exchanges: Some have much lower fees than others.
🔸 Take advantage of discounts: Many exchanges offer discounts if you use their token or if you trade frequently.
🔸 Group transactions: Making many small transactions with fixed fees can be expensive.
🔸 Monitor the network: Save on gas fees by moving your funds when the network is less congested.
🔸 Use limit orders: Cheaper and more controlled than market orders.
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