Newbie question about extreme fees

Hi
I have just started trading in crypto , and one thing that I found out is the fees are extremely hight and there are many scammers trying to steal your wallet,
so, what happened is, I have bough this currency , let's call it X , for around 0.055$ from pancakeswap using metamask wallet, after adding fees and stuff I ended up paying 0.58 ( I have bough 100$ worth of the X currency )
anyways, the curreny price went up to 0.063, so I decided to sell it , I was supposed to get 110,01$ worth of BNB excluding fees but I ended up getting 99,99$ worth of bnb ,where it should had been way lesser fees,0.25% fee going to pancakeswap (Liquidity provider fee?), 0.8$ gas fee and 0.15$ goes to pancakeswap on each sell action,that is way lesser than 10$, I went and asked the devs of X currency in their telegram, I asked them about this issue and this is what they replied :
'total % is 10%,auto LP %5 rewards to holder %2 and tax %3' , does this apply to all currencies ? if yes where I can find this information ? what is the auto LP ? is it Liquidity Provider Fee ? isn't the 0.25% fee at pancakeswap
supposed to be the auto LP fee ?
for the settings I used when selling at pancakeswap , I used the standard transaction speed and 15% slippage, it was not letting me sell for under 15% slippage
is it ok to put the bscscan of the swap here ?
I have received many private messages in telegram after I asked around about this , all of them were scammers trying to get my wallet info
p.s , go easy on me if this was too basic, I have just started yesterday

note that decentralized exchanges fees are higher than centralize exchanges because the fees will go to liquidity and others depending on the tokenomics.

Pancake swap is not meant for scalping. So don't sell too early if you buy something there.

I see, but I still don't understand those fees

Yeah, fees could be a pain if you sell at the wrong time. As you are so new, I suggest you create an account on a well-known centralized exchange and trade there. Fees are lower and you can see everything you will be paying on your orders. Pancake swap is a really helpfull tool to get your hands on some gems before they go mainstream, but not for daily trading IMO.

Good luck and never sell for a loss.

Trade on an exchange and not pancakeswap.

krishnaverma said:

Trade on an exchange and not pancakeswap.

Click to expand...

Not a viable option as a vast majority (specially the newer ones) are not on an exchange

This guy does a good job explaining how it works

wservice said:

This guy does a good job explaining how it works

Click to expand...

the coin I traded was on the binnance smart chain

Defi fees are higher. It also sounds like you bought a token that has some extra fees built in that you weren’t expecting

There are thousands of tokens out there with no utility that are created just to be pumped, and the devs receive the fees you just described for a profit (you can still make money off of these )

Do your research and have a plan when you buy!