What fees and taxes may be associated with cryptocurrency transactions?

The fees and taxes associated with cryptocurrency transactions depend on the jurisdiction in which the transaction occurs. Generally, most countries impose capital gains taxes on profits made from cryptocurrency investments or trades. Additionally, some exchanges may charge transaction fees for trading cryptos, as well as withdrawal fees when withdrawing crypto to a different wallet or exchange. Some services, such as decentralised finance (DeFi) applications, may also incur gas fees for the processing of transactions.