anyone getting problem with the gas fee should be waiting the sharding then again its unclear how the implementation will happening meanwhile the proposed l2 solution are such massive failure.
judging from the current condition it seems that the problem involving the gas fee will still persists for a long time, the only choice that we have is just moving over to the other blockchain after all each blockchain have their own ecosystem nowadays.
but arguably the best project out there are still in ethereum.
to be frank, the project that have gained massive value increase these days are the ones that creates their own blockchain so i'm having thoughts that its not gonna be that big of a deal that many pictured to be if they are seeking for the profits.
Topic: High gas fee for sending token is still a problem (Read 1328 times)
~~~
It a major issue for most of the coins. it's unstoppable when the demand grows higher , it seems that no project can escape that when they've been used by a lot of users.
when people realize that, ether is the safest option among all Altcoin for investment, then they start using ether and ether network having high traffic, so is caused high fee for transactions. And altcoins which depending on ether chain, also need high fee for transactions, thus all erc20 tokens transaction fees are effected due to ether! But bnb also has heavy traffic but still it can be transaction with low fee. So ether developer should be try to find out the solution asap It a major issue for most of the coins. it's unstoppable when the demand grows higher , it seems that no project can escape that when they've been used by a lot of users.
its always these that make the transactions gas fee always rising tremendously, but honestly speaking frankly the main reason why ethereum gas fee is never getting resolved here is because the value of ethereum themselves.
back in the days 12 gwei just requires measly amount of ethereum equivalent in dollars but nowadays its sky rocketing because the price of ethereum itself is already so high that it does affect the overall gas fee required for a transaction within the blockchain in which definitely gonna goes on maybe until they implemented sharding.
The high gas fees for transactions on Ethereum has become a problem for users, especially those trying to send ERC-20 tokens. This is due to the growth in demand for the Ethereum network and its bandwidth limitations, which lead to the fact that users are forced to compete for access to network capacity.And, you can use networks that are not based on Ethereum to send tokens, such as Binance Smart Chain or Polygon (Matic).
If you think it is not practical to use the ETH network, then, just look for other chains like BSC to do your transactions.
However, if it is because of the tokens itself, you can't do much but check the gas fees before sending your tokens.
This is why a lot of traders are already moving to another networks because of this very reason.
However, a lot of valuable projects are still being deployed under ETH so you have no choice if you will support those projects.
The high gas fees for transactions on Ethereum has become a problem for users, especially those trying to send ERC-20 tokens. This is due to the growth in demand for the Ethereum network and its bandwidth limitations, which lead to the fact that users are forced to compete for access to network capacity.And, you can use networks that are not based on Ethereum to send tokens, such as Binance Smart Chain or Polygon (Matic).
The transaction fee of Ethereum network is much higher than other networks. During the last bullrun I couldn't sell some small amount of tokens for this problem, the value of which is almost zero now. So I slowly reduced the use of this network.
Now during this bear market you can buy some amount of ETH in your wallet which will help to cover extra transaction fee in bull market.
Now during this bear market you can buy some amount of ETH in your wallet which will help to cover extra transaction fee in bull market.
Right now, the market is calm and relatively quiet in terms of volatility. Commissions on major networks are normalizing, but the next crypto hype will change everything. The ETH blockchain will be the first blockchain to feel these changes, even a completely useless memcoin, if it gains popularity, can completely break the commissions and they will be overpriced again.
In the meantime, I'd suggest you use another blockchain network (BNB, ADA, etc.) for complete peace of mind. There's a lot of money invested in Ethereum, so I'm confident developers will keep improving it until it becomes a "force to reckon with". Who knows if mainstream countries will adopt ETH as legal tender sometime in the future? Just my thoughts
If you propose to use other networks, it is also worth considering that when we change networks we change one problem for another. If when using popular networks we face the problem of high commissions and scalability, then when using alternatives we face the problems of distribution and support of these networks in different services. Unfortunately, ETH and TRX networks are the most widespread now and they are supported by almost all services, which is not the case with other networks, even BSC, which is not available everywhere.
~~~
It a major issue for most of the coins. it's unstoppable when the demand grows higher , it seems that no project can escape that when they've been used by a lot of users.
when people realize that, ether is the safest option among all Altcoin for investment, then they start using ether and ether network having high traffic, so is caused high fee for transactions. And altcoins which depending on ether chain, also need high fee for transactions, thus all erc20 tokens transaction fees are effected due to ether! But bnb also has heavy traffic but still it can be transaction with low fee. So ether developer should be try to find out the solution asap It a major issue for most of the coins. it's unstoppable when the demand grows higher , it seems that no project can escape that when they've been used by a lot of users.
I have more interest in altcoins than bitcoin because they give more ROI, but we are not in a bull market yet and Ethereum gas fee keeps surging since yesterday, it is fair if you are sending ETH from a wallet to another but the real deal is when you plan to send tokens from a wallet to another, the gas is high and this makes me wonder what will happen in a bull market, because most of my tokens are on Erc-20 chain, what is a good way to be prepared for this?
There are many options now trying to solve the problem. We should be able to switch to better options if we want to go into a bull market. The current sidechains network that support tokens are both expensive and slow for transactions. When they have this type of congestion in a sideways market with low rate of transactions, they would is no way keep up with when there would be a bull market. There might be no bull if we still put our tokens in Ethereum chain.
In the meantime, I'd suggest you use another blockchain network (BNB, ADA, etc.) for complete peace of mind. There's a lot of money invested in Ethereum, so I'm confident developers will keep improving it until it becomes a "force to reckon with". Who knows if mainstream countries will adopt ETH as legal tender sometime in the future? Just my thoughts
Another blockchain like BNB, ADA, LTC and SOL have lower fees for sending coin than using ETH network, but current gas transaction sending ETH network coins not really expensive like usually we have to pay above 5$ each sending time. Right now many new network launching and they try to give more advantage with lower fees sending transaction, but ETH network most likely in cryptocurrency regarding many coins launch their network using ETH. For ETH looks not promising will drop fees sending transaction after last several years up drastically than first time I know with ETH network available sending coins to other wallet with fees sending taken under 0.3$, but right now its not not enough yet we need more than 3$ for each time sending.
The problem of high gas fee charge has make me loose opportunity to buy Shiba Inu at early stage, before Shiba Inu coin list in major exchange, including in Binance Exchange that skyrocket Shiba Inu coin, and since then when ever I see ethereum network (ERC-20) gas fee charge keep reminding me past mistake of consider high gas fee, in other words Ethereum gas fee has been a problem, but Ethereum network normally pump during bull run, while Matic , LTC, BNB, TRX Network has a low gas fee charge for transfer from one wallet to another.
Right now, the market is calm and relatively quiet in terms of volatility. Commissions on major networks are normalizing, but the next crypto hype will change everything. The ETH blockchain will be the first blockchain to feel these changes, even a completely useless memcoin, if it gains popularity, can completely break the commissions and they will be overpriced again.
That's the problem. Hype is what usually ruins top-ranked blockchain networks like Bitcoin and Ethereum. Fees rise like skyrocket, while transactions take a lower time to confirm on the Blockchain. ETH developers are pushing towards Layer-Two scalability, but that won't fix the problem in the long run. On-chain scalability is the way to go if developers want to keep fees as low as possible. I know they've announced the Proto-Danksharding and Danksharing network upgrades, but it's going to take quite a long time before ETH gas fees decline to an acceptable level.
In the meantime, I'd suggest you use another blockchain network (BNB, ADA, etc.) for complete peace of mind. There's a lot of money invested in Ethereum, so I'm confident developers will keep improving it until it becomes a "force to reckon with". Who knows if mainstream countries will adopt ETH as legal tender sometime in the future? Just my thoughts
ETH is the most powerful and reliable platform among the altcoins. But ETH's biggest problem is its high gas fees. The high gas fees of Ethereum network tokens have created problems among many investors. BNB network tokens have the lowest fees. If Ethereum's gas fee returns to normal, then its investment will definitely increase. The high cost of gas for token delivery has become a problem in today's market. Therefore, if Ethereum's gas fee is not reduced, its transactions will be greatly reduced and there will be a negative impact among investors.I have so many tokens stuck in wallet due to high gas fees.
Current gas fees transaction with Ethereum network looks lower fees, I checked few minutes ago and not really expensive with 18 gwei or fastest transaction take about 1$. Not all time fees transaction trough ERC20 coin network expensive because when gwei dump we has chance for selling or sending coins with ETH network on lower fees. But not all time we got that moment because many time when getting new coins launching and claiming in the same time make gwei up drastically and we have spent more than 10$ for single transaction sending or swapping coins with ERC20 network.
If you have coin ERC20 network you can send to CEX exchange wallet with lower fees transaction, don't loss this great chance trough lower fees for sending ERC20 coin because one or several days later will up again and have to pay higher fees transaction.
If you have coin ERC20 network you can send to CEX exchange wallet with lower fees transaction, don't loss this great chance trough lower fees for sending ERC20 coin because one or several days later will up again and have to pay higher fees transaction.
Right now, the market is calm and relatively quiet in terms of volatility. Commissions on major networks are normalizing, but the next crypto hype will change everything. The ETH blockchain will be the first blockchain to feel these changes, even a completely useless memcoin, if it gains popularity, can completely break the commissions and they will be overpriced again.
Yes , it is true that high gass fee is a big factor. In many cases this high gas fee becomes a deterrent for new traders. And it is also true that many alternative coins have emerged to avoid these high gas fees. But don't be too liable for bitcoin transaction fees because here you can use segwit wallet instead of ligachi wallet. Moreover, the use of lightning network can help you in this regard
Current gas fees transaction with Ethereum network looks lower fees, I checked few minutes ago and not really expensive with 18 gwei or fastest transaction take about 1$. Not all time fees transaction trough ERC20 coin network expensive because when gwei dump we has chance for selling or sending coins with ETH network on lower fees. But not all time we got that moment because many time when getting new coins launching and claiming in the same time make gwei up drastically and we have spent more than 10$ for single transaction sending or swapping coins with ERC20 network.
If you have coin ERC20 network you can send to CEX exchange wallet with lower fees transaction, don't loss this great chance trough lower fees for sending ERC20 coin because one or several days later will up again and have to pay higher fees transaction.
If you have coin ERC20 network you can send to CEX exchange wallet with lower fees transaction, don't loss this great chance trough lower fees for sending ERC20 coin because one or several days later will up again and have to pay higher fees transaction.
This one really happens unexpectedly when there's more usage and traffic within the network. Not just Ethereum alone, but some L2s under it.
Like Linea for example, I frequently experienced congestion so I have no choice but to always speed up the transaction and pay additional gas fee. Same thing to Polygon zkEVM where I also experienced high gas fees from time to time.
This is way out of our control. Even if Ethereum is now at proof of stake (PoS) consensus, the gas fees aren't that cheap but much better than the gas fees of PoW days.
Like Linea for example, I frequently experienced congestion so I have no choice but to always speed up the transaction and pay additional gas fee. Same thing to Polygon zkEVM where I also experienced high gas fees from time to time.
This is way out of our control. Even if Ethereum is now at proof of stake (PoS) consensus, the gas fees aren't that cheap but much better than the gas fees of PoW days.
I have more interest in altcoins than bitcoin because they give more ROI, but we are not in a bull market yet and Ethereum gas fee keeps surging since yesterday, it is fair if you are sending ETH from a wallet to another but the real deal is when you plan to send tokens from a wallet to another, the gas is high and this makes me wonder what will happen in a bull market, because most of my tokens are on Erc-20 chain, what is a good way to be prepared for this?
Yeah it's funny how tokens with value below $50 are useless and permanently stuck in my wallet. Unless there's dramatic decrease in price of ETH or they come up with some great update that they haven't been able to pull up in years. And this situation is in a sideways market, guess what would be the situation when bull arrives. I believe and hope that ETH would no longer be the leading platform for dapps in next bull.
Gas prices rises because of the volume of users flocked in the ethereum network, this is just normal because of users transactions causes the network the congest every time especially on the peak of bull market. It is a good sign because money are flowing in the industry and because of that it will benefited the market. Though it may pain in the pocket, nonetheless it will all be worth it then.
I think high fee issue is the only major issue of eth, that makes people annoying with eth.
It a major issue for most of the coins. Before it was too lite only for Ethereum and fees weren't that much and you'll receive your ETH almost asap. But as a network grows, it's unstoppable when the demand grows higher.
That means more usage and more people using the network that results to clogging. Despite having that description of solving scaling issues, it seems that no project can escape that when they've been used by a lot of users.
I think high fee issue is the only major issue of eth, that makes people annoying with eth. Its one of the old problem, that is ongoing since uears but still unsolved. For erc20 tokens transaction, we don't have any option but have to give high for while transfer token for eth busy blockchain. That's why if you are buying erc20 token with little capital then keep that in exchange. Thus Don't need to expense fee if you need to sell and buy other token. Although its risky but no way to reduce fee. But if your token are Very worthy, then you have to give fee. Otherwise no way to transfer. If you set Low gas fee, it will not work always. But hope this issue will solve soon
Jump to: