Topic: Fees are sky high - page 2. (Read 839 times)
Ethereum developers make no claims about any solution to the problem of expensive transactions. This puts people in an uncomfortable position and they have to look for alternative methods of transfers in other networks. You can see how the price of BNB jumped and the volume of transactions on BSC increased
High Fee is now a big problem for low income investor. Of course no one can bear 20% fee.
I have some solution for you to avoid high fee.
First choose Binance P2P trading where you will get Usd or Btc without any fee. Then trade for BCH.
2nd one is tobuae FTX exchange. Send trc20 to Ftx and exchange this xoin with BCH. Ftx has no withdraw fee . you can withdraw btc,Eth,BCH without any fee to any wallet or exchange.
I did everything as you described and at the moment FTX exchange has changed its policy for withdrawing funds. At that time i was withdrawing ETH from the exchange and paid commission of 0.0025 which isnt much compared to other exchanges... I have some solution for you to avoid high fee.
First choose Binance P2P trading where you will get Usd or Btc without any fee. Then trade for BCH.
2nd one is tobuae FTX exchange. Send trc20 to Ftx and exchange this xoin with BCH. Ftx has no withdraw fee . you can withdraw btc,Eth,BCH without any fee to any wallet or exchange.
That is the problem of most because the gas fee is very expensive especially when you send ethereum and bitcoin to other wallets or transactions but if you really want to buy BCH try to swap your funds with another exchanger that has a small fee such as poloniex exchanger and there buy bch using different tokens.
Up until now the most concern of every traders and investors of cryptocurrency was its fee which is as high as the sky. Which is i understand that some of us here were thinking twice if they were going to convert their crypto to in cash it in their respective nation currency. Even myself, it is my most concern and if i had an extra source of income that i could use to sustain my needs in life, i wouldn't want to convert my crypto unless it is so important.
Yeah for last 5-6 months the gas fees in ethereum is touching sky. And day by day it's increasing even more. After uniswap and more likely the defi projects the gas fees started to pumpnand if the market go more up it will go higher. But after ethereum 2.0 come to market this problem will be solved. Before that we don't have anything to do. That's it.
Yes, but the problem is when will Ethereum 2.0 be fully resolved? this is what a lot of people are waiting for right now, because so many people say so that makes everyone wait for it, so are you sure when Ethereum 2.0 is finalized there will be an effect on the Gas cost? after ethereum 2.0 come to market this problem will be solved. Before that we don't have anything to do. That's it.
The question is if when will it happen? We must see that if there will always be the delay before the implementation of old proposal. That gives us a small insight about the possibility for the proposal to be delayed again. The proposal already tested but that needs more process to be implemented in the network.
Implement the proposal is not an easy task dude. This is always having various contradictions.
Yeah for last 5-6 months the gas fees in ethereum is touching sky. And day by day it's increasing even more. After uniswap and more likely the defi projects the gas fees started to pumpnand if the market go more up it will go higher. But after ethereum 2.0 come to market this problem will be solved. Before that we don't have anything to do. That's it.
The market price value of top cryptocurrencies are inceasing along with the gas fee of some of them. It is sad that there are side effects in increasing the price and of it is the high gas fee. If affects the low-end or small time traders and investors because most of their investments will go only in gas fees.
That's why you have to look for other coins that don't run on the ethereum network 
, many projects are moving from the ethereum network to the binance network, so research before you buy coins, such as USDT which runs on many networks such as ethereum, binance, omni, tron .So when you want to withdraw you can choose the Binance or Tron network because the costs of these two networks are cheap.
everyone who plays and makes transactions in crypto experiences the same thing as you now, especially now that eth prices are getting higher and automatically this will also affect the increase in transaction fees on each existing exchange, some people have even switched to binance smart chains now and the impact of this switch is making BNB prices skyrocket even more in the market
That's not wrong, but today the price of Ethereum has also decreased from yesterday to the present, but I see that there is no effect at all with Gas costs, so the relationship between Gas costs and Ethereum prices is only a little, because in the past never experienced anything like it is now, even though at that time the price of Ethereum was also starting to be high and the cost of Gas remained as usual.
The longer the delay of moving to PoS ETH 2.0 the more harm to ETH itself. BNB, ADA and the like networks with $0 or minimal transaction fee will kill ETH sooner or later if it won't change. Low cost, without 3rd party and private was the reason for cryptocurrency to roar but current ETH model kill it. Currently using ACH transfer cost you $0 to move between accounts but to transfer ETH to your own wallet it cost a buch of money.
Real world middle man do it for you for free but crypto world middle man bite as big as he can. Free fiat transfer fee to crypto exchanges but huge fee to move your own crypto this is not the right way and violate Satoshi's original vision "private/ p2p / low cost (or free) transaction fee".
In real world we respect first come first serve basis but with crypto it's not. Imaging lining up to buy pizza in front of Bill Gate and he willing to pay higher for the same meal then step up in front of you and another 100 people and the shop serve him first.
Real world middle man do it for you for free but crypto world middle man bite as big as he can. Free fiat transfer fee to crypto exchanges but huge fee to move your own crypto this is not the right way and violate Satoshi's original vision "private/ p2p / low cost (or free) transaction fee".
In real world we respect first come first serve basis but with crypto it's not. Imaging lining up to buy pizza in front of Bill Gate and he willing to pay higher for the same meal then step up in front of you and another 100 people and the shop serve him first.
The market price value of top cryptocurrencies are inceasing along with the gas fee of some of them. It is sad that there are side effects in increasing the price and of it is the high gas fee. If affects the low-end or small time traders and investors because most of their investments will go only in gas fees.
That's why you have to look for other coins that don't run on the ethereum network , many projects are moving from the ethereum network to the binance network, so research before you buy coins, such as USDT which runs on many networks such as ethereum, binance, omni, tron .So when you want to withdraw you can choose the Binance or Tron network because the costs of these two networks are cheap.
High fees nowadays are really big damage dealer most specially for the part of normal small income earners because with the high fees that is needed to be paid off to make the transaction successful, a big part of the total profit is being spent more likely just to be able to withdraw the amount you needed. It is an awful situation for the most of crypto users nowadays and many are having a hard time dealing with it because instead of big possible profit, a big amount will be needed to be allotted for the sake of those fees. You can hold it up for a while if it is not badly needed for it is better to wait until the fees get a little bit cheaper or you just make a full blown transaction so that you will be just having to pay for one decent gas fee for transaction confirmation processing.
The market price value of top cryptocurrencies are inceasing along with the gas fee of some of them. It is sad that there are side effects in increasing the price and of it is the high gas fee. If affects the low-end or small time traders and investors because most of their investments will go only in gas fees.
For now it is the cost of transactions that are always a problem for all of us, let alone us as small investors whose capital is only a little, and the current solution if we want to make transactions we can use binance that gas costs are still low and very easy for us to use, and we as investors hope the transaction costs will return to normal so that we are easy to exchange coins.
everyone who plays and makes transactions in crypto experiences the same thing as you now, especially now that eth prices are getting higher and automatically this will also affect the increase in transaction fees on each existing exchange, some people have even switched to binance smart chains now and the impact of this switch is making BNB prices skyrocket even more in the market
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I have about 35$ that I'd like to buy BCH with, but with the transaction fees, I can barely get 8$ out of those 35$. Anyone know a way to buy BCH on blockchain directly from your BTC balance? Also, Could I maybe set a low low fee and use transaction accelerator to push it through?
It's seems the $35 you have in your blockchain wallet is in bitcoin, I don't have any experience in using blockchain wallet so I really can't much of help in this case, but I made a research and found this article where they stated that you could change your transaction fee between regular and priority, I think choosing regular might be still high, but it will be cheaper than priority for sure,so I guess this is likely the only way you can move/get maybe $20 out of that $35, else I don't see any other way out of this. If it's only a small transaction, I think don't use Uniswap or ethereum token transactions just yet. We know not only on Uniswap but most transactions with the ethereum network also have increased costs. but if you want to play with small capital it would be better to use tokens that are cheap but which are already listed on big exchanges. now all of them are still constrained by high transaction fees.
I have the similar issue, I actually have one of the most known coins in the world and want to move it to another most known yet I can't because it is insanely expensive. I have 21 dollars in USDT at my metamask in ERC20 chain, and I want to send it to binance, that's it, it is the simplest thing ever, and I can't do it, why? Because obviously we are in a bull run that is great but that bull run made things much more expensive yet there are soooo many people getting in that costs are rising constantly.So, if I want to send 21 USDT to binance, I would have to pay 23 dollars... how does that make sense, I would be losing money if I turn that into anything I want, it wouldn't really make any sense. So, I will be keeping that USDT there until one day gas fee drops, I do not care if it takes 10 years, I will not be using it anyway, but this is the reason why BNB is overlapping ETH on profits lately.
I have about 35$ that I'd like to buy BCH with, but with the transaction fees, I can barely get 8$ out of those 35$. Anyone know a way to buy BCH on blockchain directly from your BTC balance? Also, Could I maybe set a low low fee and use transaction accelerator to push it through?
Why don't you move your funds to binance and then buy BCH from there. That's the most cheapest method to buy the coin currently. On the other hand, If the coin is not available on centralized exchange then you will have to buy it from uniswap where the fees are too much.
I have about 35$ that I'd like to buy BCH with, but with the transaction fees, I can barely get 8$ out of those 35$. Anyone know a way to buy BCH on blockchain directly from your BTC balance? Also, Could I maybe set a low low fee and use transaction accelerator to push it through?
Why don't you move your funds to binance and then buy BCH from there. That's the most cheapest method to buy the coin currently. On the other hand, If the coin is not available on centralized exchange then you will have to buy it from uniswap where the fees are too much.
I have about 35$ that I'd like to buy BCH with, but with the transaction fees, I can barely get 8$ out of those 35$. Anyone know a way to buy BCH on blockchain directly from your BTC balance? Also, Could I maybe set a low low fee and use transaction accelerator to push it through?
The post is a bit confusing. For a while, I though that the OP was talking about the BCH fees being too high.. and I was thinking about it. How the BCH fees can be so high, when they forked out from BTC to keep the transaction fee lower? They have 32 MB block size limit and hardly any of the transactions are queued. And also the last time I checked, the average transaction fee for BCH was given as $0.0037 in Bitinfocharts (1,500 times lower than the Bitcoin transaction fee).
I know that no one is complaining about the high transaction fee right now. When the net worth of your assets go up from $10,000 to $60,000, you are not much bothered with paying $10 in transaction fee. But the rally is not going to last forever and once it stops, the users will start questioning why they are being forced to pay such insane fees for transacting in Bitcoin.
For now it is the cost of transactions that are always a problem for all of us, let alone us as small investors whose capital is only a little, and the current solution if we want to make transactions we can use binance that gas costs are still low and very easy for us to use, and we as investors hope the transaction costs will return to normal so that we are easy to exchange coins.
Yeah, that's a very big problem. At least at this moment one in ethereum there is a lots of transaction done so the gas fees is in upper side plus they the price of ethereum is also high. So for transaction you have to pay high price. And it's not a good thing for atleast small crypto enthusiasts. And there is no way to skip it. There are chains which has very low fees and I thing after ethereum 2.0 come the fees will show a good decline. And only then the problem will solve
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