Topic: Different Ethereum token = different fees? (Read 128 times)
I noticed this thing yesterday. I had $26 in ethereum left in my wallet. I decided to try to bring them to the stock exchange and the commission was only $3. That same day, I wanted to sell some tokens on the Ethereum network, and there the commission showed $36. Then I went to myetherwallet and tried to do the same. The commission showed $11. I am completely confused and do not understand why there is a different commission everywhere?
Most times transfering ERC tokens come with higher fees than just transfering ETH itself. In the same way, gas fees for tokens varies from token to token which made me wonder if gas fee is dependent on the type of token you want to transfer as well as the amount; just a random thoughts though. And that is certainly the case you are facing here.
Also, what I normally do is, if the transfer is not urgent then I leave it for the time being and try again at different intervals, because most times the gas fee will be unreasonably high and most times it will be very friendly as well.
In addition, in such case scenario where the gas fees varies, I don't think there is anything you can do as tampering with the gas fee will result to failed transaction, so it means you either do the transfer with that fee or try again later. I just hope the upcoming grade fixes this issue for ETH.
Also, what I normally do is, if the transfer is not urgent then I leave it for the time being and try again at different intervals, because most times the gas fee will be unreasonably high and most times it will be very friendly as well.
In addition, in such case scenario where the gas fees varies, I don't think there is anything you can do as tampering with the gas fee will result to failed transaction, so it means you either do the transfer with that fee or try again later. I just hope the upcoming grade fixes this issue for ETH.
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Did you also took a look on the gas price (Gwei) for both transaction what automatically detected? Because the normal Gwei automatically update in every second or minute. The different fees also could be for that reason.
the value of the fees for erc 20 token transactions varies both according to the type of token and the amount to be moved not to mention that it also varies according to the times of the day, you have to look first on ethgasstation, obviously the value can be set manually but if you put a too low value you risk that the transaction will never arrive
^I don't think there's such a case that exists, most of the time it does not matter what is erc20 token you gonna send still the fees are the same though. Highly likely there quite significant changes in the traffic on the network or whether you have a different setup of gas prices for each transaction?
If it doesn't exist the op would not have said it here, it could be that transaction fee is not a flat rate for all tokens, perhaps some tokens attract higher fees than others,
The only this I can think of is probably the size or number of token to be transfer, maybe the more number of tokens the higher will be the gas.
To be precise I guess it was from the gas limit, as mentioned earlier by Yogee, the gas limit for each transaction also affects the fees itself.
More higher the number of tokens we send then the more gas limit that will be used later
yes, it is called computational power. it depends on the code itself, normal code will not take much gas because the computational process will not take a lot of time and resources while a complex one requires more gas power in order to catch up with normal code while processing the code.
if it does not do that, the transaction will be delayed even though it uses the same gwei as the normal one.
https://arunrajeevan.medium.com/tokens-gas-and-gas-limit-in-ethereum-f07790f56d8f
if it does not do that, the transaction will be delayed even though it uses the same gwei as the normal one.
https://arunrajeevan.medium.com/tokens-gas-and-gas-limit-in-ethereum-f07790f56d8f
I believe it is. Different token = different fees, the reason is that each token needs to pay for the instruction performed on the network and I guess each token have different instruction to perform thus they vary in fees. A good explanation on how ETH fees work can be read here and here. The explanation on that articles is quite technical but I think it uses a simple example for us (non-techy people)to understand.
Did you check the gas limit set by Metamask and Ledger for NFTX? Try that and compare again with LINK. Computation of gas fee is gas price * gas limit. Some tokens have higher gas limits that why estimated fees are higher even though it follows standard gas price.
^I don't think there's such a case that exists, most of the time it does not matter what is erc20 token you gonna send still the fees are the same though. Highly likely there quite significant changes in the traffic on the network or whether you have a different setup of gas prices for each transaction?
If it doesn't exist the op would not have said it here, it could be that transaction fee is not a flat rate for all tokens, perhaps some tokens attract higher fees than others,
The only this I can think of is probably the size or number of token to be transfer, maybe the more number of tokens the higher will be the gas.
^I don't think there's such a case that exists, most of the time it does not matter what is erc20 token you gonna send still the fees are the same though. Highly likely there quite significant changes in the traffic on the network or whether you have a different setup of gas prices for each transaction?
Do you wanna say to compare the tx fees on NFTX with your chainlink? It should be caused by the calculation based on the amount of token combined with the price of the token.
Remember this if the exchange site didn't wanna calculate based on the network fees equally but the exchange site was charging the fees based on how many tokens that already determined as withdrawal fees. that's why it could be more than the standard fees on blockchain.
It seems like the exchange site is not yet adjusting the fees for NFTX.
Remember this if the exchange site didn't wanna calculate based on the network fees equally but the exchange site was charging the fees based on how many tokens that already determined as withdrawal fees. that's why it could be more than the standard fees on blockchain.
It seems like the exchange site is not yet adjusting the fees for NFTX.
This is a TX from my wallet to the exchange so the exchanges are not calculating anything.
Do you wanna say to compare the tx fees on NFTX with your chainlink? It should be caused by the calculation based on the amount of token combined with the price of the token.
Remember this if the exchange site didn't wanna calculate based on the network fees equally but the exchange site was charging the fees based on how many tokens that already determined as withdrawal fees. that's why it could be more than the standard fees on blockchain.
It seems like the exchange site is not yet adjusting the fees for NFTX.
Remember this if the exchange site didn't wanna calculate based on the network fees equally but the exchange site was charging the fees based on how many tokens that already determined as withdrawal fees. that's why it could be more than the standard fees on blockchain.
It seems like the exchange site is not yet adjusting the fees for NFTX.
I've been trying to send some NFTX recently and both Metamask and Ledger Live keep quoting me around $40. This is at a time when TXs are about $10-15 each. If I pretend to send some Chainlink it quotes me $10.
So my question is this: Why do different tokens cost more or less? I'm assuming that the fee is the same regardless of the value of the tokens being sent.
Just to clarify, I'm just doing a standard TX to gate.io, I'm not using Uniswap where there would be a premium for lesser-known tokens.
So my question is this: Why do different tokens cost more or less? I'm assuming that the fee is the same regardless of the value of the tokens being sent.
Just to clarify, I'm just doing a standard TX to gate.io, I'm not using Uniswap where there would be a premium for lesser-known tokens.
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