Fees are sky high - page 4. | Bitcointalksearch.org

lumierre

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Quote from: adzino on February 06, 2021, 02:23:25 AM

You can try sending your coins to an exchange with a lower fee and wait for hours/days for confirmation. Once it gets confirmed you can trade your bitcoins for BCH. Or maybe get some other coins that has very low transaction fee.
You can try using those transaction acceleration services (there are free tx acc. services, some people try to "sell" those. So be careful!), but I doubt that is going to work, but since it is going to cost you nothing, you can give it a go.

It turns out that ETH is growing and this attracts investors. User activity overloads the network and, as a result, commissions increase. This whole situation should sooner or later return to normal. But so far, high fees of course interfere with transactions and spoil the reputation of Ethereum.

KimmyF

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Quote from: HOT_HEAD on February 05, 2021, 01:29:17 PM

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?

This situation is very hard to accept, I have faced it so many times. Now either use top centralized exchange or use wallet with swap features. Now you could use swap features (to avoid transaction cost) to exchange another coin from Bitcoin Cash. Without any centralized exchange, we can't avoid these sky high fees. Tron blockchain is the safest one to use at a low cost.

Ureung jameun

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Quote from: Hobo66 on February 05, 2021, 01:41:45 PM

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.

Very valuable advice for now that the majority of people are struggling to cope with extremely high transaction fees. I never thought to do the way you say. I hope your advice is useful for me and for people who are struggling in trading. Thank you for the advice. and I am sure a lot of people will use the advice you convey on this thread.

Jocuserious

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Huge eth transaction fees right now everydays. It's really a crazy fees because if i gonna 100$ transaction then i will need 30-40$ fees. With the increase in the price of eth, the transaction fees are increasing which is not really surprising and acceptable. I think there may be a long gap between these fees to decrease.

criket

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Quote from: repear7 on February 07, 2021, 07:58:50 AM

Transaction fees are too high at this time. I think high price of currencies is main problem of it. Wink

Mainly, Transaction fees of BTC, ETH is too high.

The issue has not been resolved since the end of last year even before the ethereum 2.0 update was implemented. I think it is all over and is the solution to high transaction fees. but until now when the price increases you can see that many tokens also increase the price but the value will run out when you see such expensive transaction fees.

repear7

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Transaction fees are too high at this time. I think high price of currencies is main problem of it. Wink

Mainly, Transaction fees of BTC, ETH is too high.

HOT_HEAD

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I see everyone telling me to pick segwit address or some other trading platform. The thing is that my btc is stuck at my blockchain address, I've tried swapping for BCH but from those 35$ I'd get 11$ in BCH, not really interested in giving 60% away on fees.

Fees are low as hell right now (6sat/byte) but blockchain still takes a huge chunk when swapping for currencies even tho I remember them saying I could do it without any fees.

EDIT: I've just read my OP and I see that I didn't mention that those 35$ I have are in BTC and on my blockchain address. My bad.

Psynthax

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Quote from: ttcsalam on February 06, 2021, 05:10:32 AM

Quote from: HOT_HEAD on February 05, 2021, 01:29:17 PM

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?

Dear the market is very High for that reason All of coin transaction fee is too high it is very pathetic for all of us only TRX may be transaction Price is Low and all of coin transaction price is too much high and also ETH gas fee is more from BCH.

Actually all the coins that below top 10 market cap (except erc20 tokens) have low fees, its just the users too centralized in top cryptocurrency thats why the blockchain overflowed with many transactions as a result the confirmation arrives too long but then people use higher fee to overtake other people's transaction and the cycle goes.

Eth seem to stay this way for atleast few months in the future so be patient or move over to coin with better fee.

Twinkledoe

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Quote from: agustina2 on February 06, 2021, 06:46:00 PM

Quote from: HOT_HEAD on February 05, 2021, 01:29:17 PM

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?

Try to transact at your local exchanges if they support BCH. Internal transfer between the same exchange is a more convenient and best alternative rather than transact it from between exchanges.

If not available, no choice but to spend $8 on your transaction or choose the lowest possible one then wait for a longer confirmation time if you are not in rush.

There are already local exchanges that directly convert your fiat to BCH. But it depends on where the OP is. If not, he can use the Binance p2p. Check first the fees involved before proceeding with transaction. As once you initiated the transaction, there's no going back. With such small funds, it is really not practical to buy alt if it will incur hefty fee.

agustina2

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Quote from: HOT_HEAD on February 05, 2021, 01:29:17 PM

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?

Try to transact at your local exchanges if they support BCH. Internal transfer between the same exchange is a more convenient and best alternative rather than transact it from between exchanges.

If not available, no choice but to spend $8 on your transaction or choose the lowest possible one then wait for a longer confirmation time if you are not in rush.

bittick

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Quote from: Tstar on February 06, 2021, 03:03:15 PM

I will follow to see if anyone will come out with a working solution.

Some proposal already created to fix this problem again the problem is miners didn't approve this proposal.
The party that can give the best solution is the ethereum developers itself. The users are just using the protocol and follow all of the rules that already created on such platform. i have abandoned all of my tokens due to the non sense fees these days.

ven7net

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Quote from: HOT_HEAD on February 05, 2021, 01:29:17 PM

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?

Indeed, the problem with a large commission is now gaining momentum and, unfortunately, there is nothing we can do about it. This is due to the high demand for crypto assets and I believe that this will continue until large funds are purchased with the cryptocurrencies they need. As for the purchase of cryptocurrency, now it is difficult for investors with small funds, since they have to pay a large commission. In this case, you just have to wait until the commissions return to a lower level.

imstillthebest

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what exchange you are using and why they charge 27 dollars for the fee but they maybe thinking that bch is an eth and no dont set the fee to low because horible things might happen if the exchange or the wallet that you use dont recomend low fee and accelators are scam.

they will say they can speed up your transaction but it will process with the same speed i have tried lots of them but the true that will work is i guess those that are paid but not worth it if your transacing with tiny amounts .

virasisog

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High fees are normal during the bull market. I attempted transferring $10 worth of BTC and guess what the fee would cost me around $40 which is way more than what I will transfer. This market is not favorable for micro-transactions and even for small-time traders since fees will kill your funds.

Maestro75

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Quote from: Sterbens on February 05, 2021, 01:59:11 PM

We have found many times that the average problem is the same, which is related to shipping costs which are very unfriendly for small traders. it is difficult for us to find this solution, unless the Dev and his team make concessions for this very expensive cost. but that is not possible, they are doing business and looking for profits not see small or large traders.

But cryptocurrency is more an online thing and not like shipping. So why will the increase transaction fees just because demand is getting high? That is wickedness and it is not the original intention for digital money. The miners are evil and are killin the interest of people in cryptos.

Quote from: Sterbens on February 05, 2021, 01:59:11 PM

It is not realized that gradually, if one exchange at a low cost emerges, it will have a great consequence to abandon the old and switch to the new.

That was how Binance was able to make a name for itself and beat the exchanges before it becauae it offered zero trading fee then and that got the attention of many traders.

Tstar

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Quote from: HOT_HEAD on February 05, 2021, 01:29:17 PM

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?

Yeah, fees are abnormally high right now. I was forced to abandon all my Eth token based & Bitcoin trades because of these fees.

I will follow to see if anyone will come out with a working solution.

RapTarX

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I can't see any reason why would anyone have to pay $27 fee for BTC on-chain tx. The current fee is pretty low and I can't remember if I have seen such a ridiculous fee ever. Which wallet are you using & how many inputs are there in your tx? Have you received the BTC more than a few times? If so, that can be the reason for such a ridiculous fee. Or, it's very possible that you have your BTC in an exchange?

btcltcdigger

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Quote from: HOT_HEAD on February 05, 2021, 01:29:17 PM

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?

See if you can send that money to a reliable L2 where you can exchange it for BCH. L2 usually have 0 or very small fee's,so you might get some bang for your buck.

mdzahed134

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Quote from: ?? on ??

Is that really $35 fee on BCH blockchain for 1 transaction ? What exchange were you using at that time ?
I know that the transaction fee on Ethereum blockchain is high, but don't know about other coin.
Maybe you can try to convert the BTC into other coin first ? or waiting some time for lower fee on the network.

Nope, 35$ fees are not make for 1 transaction. He own 35$ and wanna buy BCH but problem is higher transaction fee. Eth & BTC transaction fees rapidly increasing, small amount holder badly facing this issue, they are not able to carry the charge of such a large amount. I think no way to avoid higher gas fees right now. So you have to wait for reduce.

Sanitough

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This tells that we are in the bull market now, it's confirm by this usual fees, Ethereum network also has high fees, so just hold on and don't sell if you can't take the fees. This soon will be back to normal once the market begin to be stable, so let's choose whether we like a stable market or bull run with high fees. By the way, fees are not a problem if you are transacting a decent amount of money, so we can't generally say that the fees are high.

Topic: Fees are sky high - page 4. (Read 830 times)