Cryptocurrency trading typically involves several types of fees. The most common are trading fees, which are charged by exchanges for executing buy or sell orders. These can be a flat fee or a percentage of the transaction amount. There may also be deposit and withdrawal fees, especially when moving funds between your bank account and the exchange or transferring crypto to an external wallet.
Additionally, network fees (also known as miner fees) are charged to process transactions on the blockchain. These fees can vary depending on the network congestion and the specific cryptocurrency being traded. It’s important to review the fee structure of your chosen exchange and factor these costs into your trading strategy.
