#CryptoFees101

Imagine that you conduct a cryptocurrency transaction and accidentally pay $500,000 in fees. Sounds crazy, right? But this actually happened in September 2023. One user ended up burning more than 300 ETH — just to transfer a portion of funds.

It wasn't a scam. It was a simple mistake. One wrong number. One tiny error. And puff — half a million dollars disappeared.

So what are these "fees"? 🤔

Every time you make a transaction on the blockchain (like Ethereum), you pay a fee, which is also called "gas."

Here’s why they exist:

🔥 They reward validators/everyone for confirming your transaction

🛡️ They protect the network from spam and overload.