THECRYPTO.WATCH – Holders of TCW token must sometimes be confused about how to overcome crypto transaction fees. This is because these costs cannot be avoided when making purchases or transferring assets. In addition, each exchange also has a different amount of fees.
What Are Crypto Asset Transaction Fees?
Transaction fees will be charged when you transfer crypto assets to another wallet. It is also possible to purchase a number of crypto assets on certain exchanges. The main thing to pay attention to is how to overcome crypto transaction fees.
The existence of this fee is because a transaction requires effort. The amount of fees that will be charged in the transaction as compensation for asset owners and validators.
The amount you have to pay is also based on fluctuations. It depends on how busy the network is.
Tips for Overcoming Crypto Transaction Fees
In order not to be exposed to high fees for crypto transactions, you can try the following tips:
Right Time
When you make crypto transactions, you can consider the right time to do it. Choose it when the blockchain network is not too congested. Because, if you make transactions at uncongested hours, it will give you fewer transactions.
You can also try transacting when the fees are lower and wait for the transaction to complete. In addition, to realize more efficient fees, you can choose a wallet with a special transaction fee feature.
Lightning Network
Network with lightning network will be a good long term solution. So that it can do some transactions in the future. If you use this network, you only need to pay the first time fee.
After that, you will no longer be charged high fees, so sending even large transactions will be more efficient.
Gas Fee Optimization
When using certain crypto coins, there is a huge possibility of charging the user. However, you can reduce these fees depending on the urgency of the transaction.
Double-check the market price when making a transaction. So you can save about 25 percent of transaction fees.
Traders don’t just have to think about strategies to make money in crypto assets. How to overcome crypto transaction fees will also be influential. Because, if the costs are high, they must also be accompanied by high profits on your crypto assets.
