Topic: High ETH withdraw Fees, how to Solve - page 6. (Read 769 times)

How many ETH do you want to withdraw from your MEW?
Because last night, when I checked in my Trust Wallet, if I want to withdraw 0.2 ETH, the fee is about $13-$15 so I think that is not too high depending on the money you will get.
But I did not execute the withdrawal since the ETH price was still going down and I let my ETH stay in my Trust wallet.
If the funds are more than $1k and your fee is about $10-$50, I think that still worth withdrawing and sending it into the other wallet but that will be up to you.

I think this is quite dangerous because there is a possibility that the exchange or our account is hacked, especially for now it is almost impossible to see exchanges lowering their withdrawal fees, so  high fees are something that must be faced at this time. The second suggestion might work if it could. Yes this conditions bothering crypto lover.

If Op already sent the coin to the exchange to be exchanged then a high fee cannot be avoided. Sometimes I will exchange it to a coin with a lower fee and immediately withdraw it to a local exchange to be exchanged for fiat (but this is only if you want to exchange it to fiat only, otherwise it can't be done) but still have to calculate carefully, so don't get discouraged paid high fees but turned out to be paying more for doing other things.

You don't have a choice but to deal with that. No centralized exchanges I think will charge cheap fees regarding Etherium transactions.

Can you tell us what's your goal or purpose why you want to end up your funds in your MyEtherwallet? Maybe we can suggest some alternatives.

I have a recommendation to use FTX exchange for you, as it is really free of withdrawals if you meet some conditions.
Reference: https://help.ftx.com/hc/en-us/articles/360034865571-Blockchain-Deposits-and-Withdrawals
I still regularly use it to transfer ETH to personal wallets, and it is really cost-effective for me.

Just wait for the fee to go down but it seems like the fees will never go down, the only thing that you can do to find another exchange site with lower withdrawal fees. sometimes the fee fluctuates a lot and could decrease significantly, and if you’re lucky you can get really cheap at around 5 gwei or even less, maybe the fee going up because there are many NFT owners that are trying to make an auction from their NFT and willing to set the fee high because their NFT worths make the fee required feels insignificant and they don't really care about the fee at all. It seems like that the exchange sites have not yet integrated with EIP1559 legacy coz this will make the fees to be cheaper a little bit.
More over it seems if you are really bothered by the fee that ETH has you should just switch to something like BSC, to be honest BSC and ETH is the same thing, there are many NFT, staking and gaming tokens in both of their ecosystem that’s why if what you’re looking for is that, it won’t have that much difference and you gonna save up so many just for the fee alone and to be honest ETH is truly unbearable and I think it’s just simply unusable for most. If you wanna do a transaction in ethereum and the current fees should be what you must have paid. It will never go down.

under the current conditions, it is probably better to leave everything on the exchange and not withdraw it to a wallet with such transaction prices, there is no point in this.Well, or use alternative blockchains.What is happening now is bothering a lot of people.

ETH are fucked us with the gas fees.now normal eth transcation fees from personal wallet is up to $15 and erc-20 token up to $100. Withdrawal eth fees from any centralized exchange 2x then personal wallet.  It's too fucking. You can use FTX exchange for buy eth. FTX charge gas fee like your personal wallet like Metamusk, Trustwallet

You can dodge the the flat rate transaction fee of exchange but once you use a DEX or Bridge dapps, They will still charge you high fee or even much expensive on CEX withdrawal fee just to buy any ERC20 tokens.

I believe buying ERC20 tokens that pegged on other blockchain like BSC and TRX is advisable since most the AMM exchange on different blockchain platform supports most of the ERC20 pegged tokens since it has a lot of demand from traders that want to ride the price pump of ERC20 tokens even if its just a pegged tokens to avoid expensive transaction fee.

You first add your coin to TRX. Then take it to FTRX Exchange. From where you buy ETH. Now you fly to your personal wallet. Their fees are very small. But here again, what will you do to change the location from personal wallet? There will have to pay a lot of fees.

It would be better for you to keep it in exchange.

I don't think their fees will be reduced. At present many people are leaving their ETH network usage and coming to BSc. BSc fee is very low so many people have started using it.

If you're withdrawing any ERC20 token, then yes, fee's are in the $50 range. But if you're withdrawing only ETH, fee's shouldn't be more than few dollars, as there's no smart contract interaction.

You should move from kucoin and i don't use those exchange sites anymore as they were charging very high fees. I have been migrating to FTX and i have been staking some FTT to get free ethereum transaction.


You can try to use FTX. This is the best exchange site right not as you will be getting some discounts when you're sending ethereum or ethereum assets but when it comes to the blockchain with cheap transaction fees and it will charge you zero fees.
This is the best exchange site in the world. It's very responsive and i do like how it was giving discounts for the transaction fees by its users.

Usually the withdrawal fee is fixed for every token and decided by the exchange itself. This needs to be adjusted as often as possible because the network fees, especially the ones on the ethereum network are changing quite a bit during a few days and this is a lot of work. This way it can happen, that the withdrawal fees of exchanges are extremely high for a certain token because for example the price of the token increased, then the fixed withdrawal fee needs to be adjusted. So you just need to check from time to time.

no, all withdrawal fees on the exchange are not much different from one another. there is no solution to this problem now, you can only surrender. compromise the current fee, or don't use the ethereum network no matter what. my advice is better don't move your ETH for now. hold it on the exchange, or sell it if you are afraid it will be hacked.

From my point of view, the only way right now to make Ethereum transaction cheaper is to make Ethereum cheap. As the transaction amount is a number of gwei, make Ethereum cost $100 and the amount you spend on fees wont bother anymore. But, no one will allow Ethereum price to drop that much. Impossible to solve high transaction fees issue. The only probable solution is to use other blockchain instead and completely ignore Ethreum blockchain. Or make exchanges just to make cheaper transaction and then exchange back. But that might cause even more losses or expenses.

It's because there are no definite solution for the high gas fees by ETH.

All we have is just work around, but still it covers some money before we can make a withdrawal. Bitcoin is way cheaper that Ethereum, it will just cost less that a dollar to do a transaction with 1 input -> 1 output.

This is the sad part of Ethereum, yes, I know it's a good investment, but how can you make profits when the withdrawals fees are so expensive?

I have asked my question about this for a long time and there's really no answer to it. "Are trading fees not enough for them to lower the charge in withdrawals?" Compared from wallet to wallet, it's obvious it's way far from how they charge us. I don't know how much it is in Bitcoin now but if my memory serves me correctly, I remember it was 50k sats when I last withdraw Bitcoin from an exchange, don't know about Ethereum though.
That's a lot of money when you are the type to be converting all the currency you have in USD. 
Solutions? Win that fee in trading.

Convert it to something else and then withdraw. Don't use expensive chains for withdrawals or transactions. There isn't any other possible solution for that problem. Use doge, ltc, usdt whatever is cheap. If you want to withdraw ETH and ETH only; then you are out of luck. Just abandon it altogether and find something cheaper because apparently you are not meant to use eth. It is only for those who can afford to use it.

The exchange with the cheapest ETH transaction fees I know of is FTX. These exchanges have very low transaction fees, and depending on ETH gas at the time, the lower the gas the cheaper the transaction fees will be.

Some ERC20 got high fees in exchanges, it is fact that we must take. That is why nowadays people start to change to another chain like BSC or Tron or any chain which cost less fees to make transaction. I think if must use high fee and trade less than $10, it is not really worth to do.

Buy a ledger or trezor, transfer your Ethereum to the polygon network (L2 solution) and trade on 1 inch or other decentralized exchangers.

Complete list of available projects
https://awesomepolygon.com/

If you trade Ethereum and popular tokens, then I don't understand why use a centralized exchange now.