Understanding Gas Fees in Cryptocurrency

This quiz is designed to test your knowledge of gas fees in cryptocurrency transactions. It includes questions related to the concept of gas fees and their impact on transaction costs.

What are gas fees in cryptocurrency transactions?

Transaction fees

Mining fees

Network fees

How are gas fees calculated in cryptocurrency transactions?

Based on the network congestion

Based on the sender's location

Based on the transaction amount

What is the impact of high gas fees on cryptocurrency transactions?

Lower transaction costs

Higher transaction costs

Faster transaction confirmation