When you’re investing in cryptocurrency, you have to deal with cryptocurrency transaction fees. Due to the decentralized nature of cryptocurrencies, you have to pay for using a network of a crypto as well. The network needs to be incentivized to verify all the transactions occurring on the blockchain, and you as a user are paying for that.
There are 3 types of transaction fees when dealing with cryptocurrencies:
Exchange Fees
Whether you want to convert your fiat currencies to crypto or trade your crypto holdings for other cryptos, the safest and easiest way to do this is through a crypto exchange. Exchanges do not provide these services for free and to generate an income, they charge a fee on every trade you make on their exchange. Every exchange charges different transaction fees and it can save you quite some money to research which exchanges have the most favorable fee policies.
Read more: https://hype.codes/cryptocurrency-transaction-fees-beginners
There are 3 types of transaction fees when dealing with cryptocurrencies:
- Exchange fees
- Network fees
- Wallet fees
Exchange Fees
Whether you want to convert your fiat currencies to crypto or trade your crypto holdings for other cryptos, the safest and easiest way to do this is through a crypto exchange. Exchanges do not provide these services for free and to generate an income, they charge a fee on every trade you make on their exchange. Every exchange charges different transaction fees and it can save you quite some money to research which exchanges have the most favorable fee policies.
Read more: https://hype.codes/cryptocurrency-transaction-fees-beginners