fraiscrypto

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Crypto fees: why sending $10 can cost as much as sending $10,000Ibrahim runs a small shop selling mobile top-up cards in Bamako. He wants to send his cousin the equivalent of $10 in crypto. Surprise: depending on the network he chooses, the “fees” can be tiny or eat up a good chunk of his transfer. Why? Because network fees don’t work like a percentage-based commission. Here’s how it works, in simple terms. ⛽ What are “network fees” (or “gas”)? • A blockchain is maintained by thousands of computers. To get them to add your transaction to a block, you pay a small tip.

Crypto fees: why sending $10 can cost as much as sending $10,000

Ibrahim runs a small shop selling mobile top-up cards in Bamako. He wants to send his cousin the equivalent of $10 in crypto. Surprise: depending on the network he chooses, the “fees” can be tiny or eat up a good chunk of his transfer. Why? Because network fees don’t work like a percentage-based commission. Here’s how it works, in simple terms.
⛽ What are “network fees” (or “gas”)?
• A blockchain is maintained by thousands of computers. To get them to add your transaction to a block, you pay a small tip.
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