Topic: High gas fee for sending token is still a problem - page 5. (Read 1338 times)
Ethereum gas fees high a long time ago even now this time everyone want use bsc network. When a small investors sending token then they indeed lot of transactions gas fees but it really a big problem. Anyway every new project has making bsc transactions system where investors buy there token by spending low fees.
Yes, high gas fees for sending tokens are still a problem in the cryptocurrency world. Gas fees are the transaction fees paid to miners to process and validate transactions on a blockchain network. The fees usually paid in the native cryptocurrency of the network such as ether. When the demand for transactions on the network is high, the gas fees tend to increase, making it expensive to send tokens. This has been a recurring problem in the ethereum network, especially during periods of high network activity, such as during ICO's or when there is a surge in decentralized finance activity. There have been efforts to address this issue, such as the implementation of layer 2 scaling solutions like Polygon and Optimism, which aim to reduce the congestion on the main Ethereum network and lower gas fees. Other blockchain networks like Binance Smart Chain and Solana have emerged as alternatives to Ethereum, offering faster transactions speeds and lower gas fees.
Then we have the same problem. I also have coins that I want to take out from MEW and I cannot do it because of the expensive fees, especially in the ERC20 department. I think the lowest is $3-4 just so the transaction would go through without any issues. Because before there was an instance where I paid more just because it keeps on failing. If I remember it right, it cost me $20 in total until I realize that I must not use the lowest transaction service to push through. Now, I don't want to happen again but I lack the amount needed in my old MEW account. Sending it some will be another waste of money and it may not be worth the fees if I do it.
I have not tried the services that you mentioned yet. I may check that out and see if a solution can be done in a cheaper way.
I have not tried the services that you mentioned yet. I may check that out and see if a solution can be done in a cheaper way.
You need to be careful not to end up paying a very low fee that will end up getting rejected by the network. I've used to paid low gas fees on smart contracts a few years ago, only to realize that my transaction got canceled. My ETH was lost because of this. If you want to avoid this, pay a decent gas fee according to network activity. Etherscan's Gas Tracker is a great tool that lets you know ETH's gas fees in real-time.
I know high gas fees are frustrating, but that's the cost you pay for decentralization. Other chains provide low fees, but they're heavily-centralized (eg: BNB and Solana). I guess you get what you pay for. Luckily, there are off-chain (L2) scaling solutions similar to BTC's Lightning Network on Ethereum. Solutions such as Optimism and Arbitrum have low fees and blazing-fast (near instant) speeds. I know on-chain fees won't stay high forever, so all hope is not lost. Just my thoughts
I also have some altcoins on the Erc-20 chain, and I find it hard to move them around without paying a lot of fees. However, I think there are some solutions that can help you reduce the fees and be prepared for a bull market. One solution is to use a Layer 2 scaling solution, such as Polygon or Optimism, which can offer faster and cheaper transactions on Ethereum.
then the question arise, is your erc-20 token also deployed in these blockchain? if the answer is no, then it's useless using these layer 2, also polygon i think is not layer 2, it's standalone blockchain. 
Forget eth network and move on bsc network for reducing your transaction fees. Last few years the price of eth increasing lot of so that's why transaction fees goes up. So it’s not our hand work even It's your own choice any jumping anyone network for transaction token. But we can just suggest you for taken bsc network that's great reduce fees.
You can't ignored Eth Network so easily because you know still it’s a highest using network in altcoins, most of the project implemented in this network, so it’s quite difficult to not use this network, people’s frustrated just for it’s crazy transaction fees in the last few years. That's true now Bsc can be alternative way to reduces gas fees. Forget eth network and move on bsc network for reducing your transaction fees. Last few years the price of eth increasing lot of so that's why transaction fees goes up. So it’s not our hand work even It's your own choice any jumping anyone network for transaction token. But we can just suggest you for taken bsc network that's great reduce fees.
if only it's that simple but the truth is the ecosystem differs greatly, the closer ecosystem of eth that would be those second layer of arbitrum and the likes where you could easily convert your eth arbitrum to eth homestead ethereum main blockchain, then you're set other than that, i just find the solution of moving over to some other blockchain wouldn't solve anything.The Ethereum and Binance smart chain ecosystems are indeed different, but if we force transactions on the Ethereum network which has high gas fees,
of course you also have to be prepared to issue these fees, for now we can switch to cheap ones, such as the Polygon network or Binance smart chain.
Network congestion is now quite normal in Ethereum so many users are interacting with it so it is inevitable for Ethereum gas fee to increase.
It somewhat cleared for now, maybe everyone wanted to have a very cheap transaction fee, just like what we have seeing before. But I guess we won't have that experience as the fee might be ok for now, but there could be factors that might affect the fees again. So we can't be sure of the fees in the future. Specially when we are in a bull run, I'm seeing network congestion again, IMHO.
In my opinion, the issue of high gas fees for transactions has been a problem for a long time, but I personally prefer using the Tron(trx), BSC or Polygon network instead of the ETH network. , because it is much cheaper
Tron(TRX) is good, but still though, I don't know if it is just me, but I also find it quite expensive. But the good thing is that we have a lot of options for now like what we have mentioned. It's up to us what we wanted to use to be able to get around with this high tx fees.
Network congestion is now quite normal in Ethereum so many users are interacting with it so it is inevitable for Ethereum gas fee to increase.
In my opinion, the issue of high gas fees for transactions has been a problem for a long time, but I personally prefer using the Tron(trx), BSC or Polygon network instead of the ETH network. , because it is much cheaper
In my opinion, the issue of high gas fees for transactions has been a problem for a long time, but I personally prefer using the Tron(trx), BSC or Polygon network instead of the ETH network. , because it is much cheaper
I have more interest in altcoins than bitcoin because they give more ROI,
Indeed, altcoins can provide a significant ROI compared to Bitcoin, but you should still exercise caution, as altcoins are also highly risky.Quote
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?
One solution to avoid high gas fees is to use other blockchain chains such as Binance Smart Chain (BSC), Tron (TRX), or Polygon. These chains offer lower transaction fees and can serve as alternatives for investors who want to avoid expensive gas fees. For your altcoins that are primarily on the ERC-20 chain, I believe there is no other option but to sell them and start researching other chains if you want to expect lower transaction fees. If you choose to remain on the ERC-20 chain, then you will have to accept the high gas fees.
I also have some altcoins on the Erc-20 chain, and I find it hard to move them around without paying a lot of fees. However, I think there are some solutions that can help you reduce the fees and be prepared for a bull market. One solution is to use a Layer 2 scaling solution, such as Polygon or Optimism, which can offer faster and cheaper transactions on Ethereum.
Then we have the same problem. I also have coins that I want to take out from MEW and I cannot do it because of the expensive fees, especially in the ERC20 department. I think the lowest is $3-4 just so the transaction would go through without any issues. Because before there was an instance where I paid more just because it keeps on failing. If I remember it right, it cost me $20 in total until I realize that I must not use the lowest transaction service to push through. Now, I don't want to happen again but I lack the amount needed in my old MEW account. Sending it some will be another waste of money and it may not be worth the fees if I do it. I have not tried the services that you mentioned yet. I may check that out and see if a solution can be done in a cheaper way.
Forget eth network and move on bsc network for reducing your transaction fees. Last few years the price of eth increasing lot of so that's why transaction fees goes up. So it’s not our hand work even It's your own choice any jumping anyone network for transaction token. But we can just suggest you for taken bsc network that's great reduce fees.
if only it's that simple but the truth is the ecosystem differs greatly, the closer ecosystem of eth that would be those second layer of arbitrum and the likes where you could easily convert your eth arbitrum to eth homestead ethereum main blockchain, then you're set other than that, i just find the solution of moving over to some other blockchain wouldn't solve anything.The Ethereum and Binance smart chain ecosystems are indeed different, but if we force transactions on the Ethereum network which has high gas fees,
of course you also have to be prepared to issue these fees, for now we can switch to cheap ones, such as the Polygon network or Binance smart chain.
Yes, high gas fees for sending tokens on the Ethereum network continue to be a problem, Gas fees are the fees paid to miners to process transactions on the network. The fees are determined by the level of network activity and the complexity of the transaction. In recent months, gas fees have been on the rise due to increased demand for the transactions on the Ethereum network. This had made it expensive for users to send tokens, especially for small transactions. There are several solutions have been proposed to addres the high gas fee issue, including layer 2 scaling solutions such as rollups and sidechains, which can process transactions off-chain and then settle them on the Ethereum network.
the gas fee aren't paid to miners anymore there are no miners since ethereum switch over to PoS, and the proposed solution that was supposedly to solve the high gas feeproblem are such massive dissapointment honestly, these off chain solution using second layer instead add further burdens since they are still submitting their batch transactions in ethereum
blockchain, basically these second layer solution are instead of solving the problem, they just add some traffic, you can see the contract that spends most gasses are in general included these second layer sequencer or some batch submitter contract among the highest ranks.
Forget eth network and move on bsc network for reducing your transaction fees. Last few years the price of eth increasing lot of so that's why transaction fees goes up. So it’s not our hand work even It's your own choice any jumping anyone network for transaction token. But we can just suggest you for taken bsc network that's great reduce fees.
if only it's that simple but the truth is the ecosystem differs greatly, the closer ecosystem of eth that would be those second layer of arbitrum and the likes where you could easily convert your eth arbitrum to eth homestead ethereum main blockchain, then you're set other than that, i just find the solution of moving over to some other blockchain wouldn't solve anything. You can switch to another network like BNB, MATIC or ADA. They have smooth transaction speeds and low GAS fees. BTC is the mother of crypto but with expensive GAS fees and slow transaction speeds this is a problem BTC needs to solve.
The only problem is that these networks are not as decentralized and reliable as Bitcoin or Ethereum. As it's said in the real world, "you get what you pay for". When you pay high fees, you're essentially paying for unmatched security and decentralization. Of course, the network will be congested due to high activity/load. But you'll rest assured your transaction will go through no matter what. Not like Solana that often goes down due to its centralized design (even though you're paying very low fees per transaction).
The future of crypto lies on off-chain scaling solutions (aka Layer-2). It's the safest approach to scale crypto without "harming" the main Blockchain. People are often looking for convenience, so I'm pretty sure they will quickly adopt L2 networks after they're perfected for mainstream use. Who knows if high fees become history some point in the future? Just my opinion
Forget eth network and move on bsc network for reducing your transaction fees. Last few years the price of eth increasing lot of so that's why transaction fees goes up. So it’s not our hand work even It's your own choice any jumping anyone network for transaction token. But we can just suggest you for taken bsc network that's great reduce fees.
~snip~dominating in the market but come in mind that we do have BEP20 which is on binance chain which fees are way too cheap but surprisingly there are still having that huge demand on most tokens sitting on erc20.
Yes, its been a main problem on erc20 on having that huge gas fees on transferring token and this is why most of shit coins or meme coins being created is mostly on binance chain.
You would eventually be able to see and compare it out specially on checking out those DEXe's. Making up some small amount transactions is never been that worth
on which it would really be just that eaten by the gas fees and this is why there are lots of people who had been hating up on making tx on eth chain.
Yes, its been a main problem on erc20 on having that huge gas fees on transferring token and this is why most of shit coins or meme coins being created is mostly on binance chain.
You would eventually be able to see and compare it out specially on checking out those DEXe's. Making up some small amount transactions is never been that worth
on which it would really be just that eaten by the gas fees and this is why there are lots of people who had been hating up on making tx on eth chain.
BEP20 is also quite cheap but try to use the MATIC (POLYGON) chain, it will be cheaper and even very cheap. I quite often use the MATIC chain for some trading on Dex or to make withdrawals from some exchanges or do arbitration using the cheaper MATIC chain. Besides that, chains like TRX can also be another option for cheaper withdrawals compared to having to use an ERC20 chain, which we already know will be very expensive.
only in certain cases I use ERC20.
new and this is how these services do make out some revenue too but most of the time it would really be majority be using up the recommended network fees in between chains.
This is why it would really be better on making some withdrawals manually but there are really that exchangers which do really charged up more + with the casual network fees
which would really be making the burden more heavier but if you are filthy rich then these things wont really be an issue.
Switch to TRON network, TRON transfers ( ~3 each day ) are free. Plus there are various tokens, like Tether USDT in TRON network.
the various tokens that you mean are not necessarily various, as far as I know the only token worth mentioning in their blockchain are the stablecoins and nothing more.so it's not really a solution against ethereum high gas fee.
~snip~dominating in the market but come in mind that we do have BEP20 which is on binance chain which fees are way too cheap but surprisingly there are still having that huge demand on most tokens sitting on erc20.
Yes, its been a main problem on erc20 on having that huge gas fees on transferring token and this is why most of shit coins or meme coins being created is mostly on binance chain.
You would eventually be able to see and compare it out specially on checking out those DEXe's. Making up some small amount transactions is never been that worth
on which it would really be just that eaten by the gas fees and this is why there are lots of people who had been hating up on making tx on eth chain.
Yes, its been a main problem on erc20 on having that huge gas fees on transferring token and this is why most of shit coins or meme coins being created is mostly on binance chain.
You would eventually be able to see and compare it out specially on checking out those DEXe's. Making up some small amount transactions is never been that worth
on which it would really be just that eaten by the gas fees and this is why there are lots of people who had been hating up on making tx on eth chain.
BEP20 is also quite cheap but try to use the MATIC (POLYGON) chain, it will be cheaper and even very cheap. I quite often use the MATIC chain for some trading on Dex or to make withdrawals from some exchanges or do arbitration using the cheaper MATIC chain. Besides that, chains like TRX can also be another option for cheaper withdrawals compared to having to use an ERC20 chain, which we already know will be very expensive.
only in certain cases I use ERC20.
~snip~dominating in the market but come in mind that we do have BEP20 which is on binance chain which fees are way too cheap but surprisingly there are still having that huge demand on most tokens sitting on erc20.
Yes, its been a main problem on erc20 on having that huge gas fees on transferring token and this is why most of shit coins or meme coins being created is mostly on binance chain.
You would eventually be able to see and compare it out specially on checking out those DEXe's. Making up some small amount transactions is never been that worth
on which it would really be just that eaten by the gas fees and this is why there are lots of people who had been hating up on making tx on eth chain.
Yes, its been a main problem on erc20 on having that huge gas fees on transferring token and this is why most of shit coins or meme coins being created is mostly on binance chain.
You would eventually be able to see and compare it out specially on checking out those DEXe's. Making up some small amount transactions is never been that worth
on which it would really be just that eaten by the gas fees and this is why there are lots of people who had been hating up on making tx on eth chain.
BEP20 is also quite cheap but try to use the MATIC (POLYGON) chain, it will be cheaper and even very cheap. I quite often use the MATIC chain for some trading on Dex or to make withdrawals from some exchanges or do arbitration using the cheaper MATIC chain. Besides that, chains like TRX can also be another option for cheaper withdrawals compared to having to use an ERC20 chain, which we already know will be very expensive.
only in certain cases I use ERC20.
~snip~dominating in the market but come in mind that we do have BEP20 which is on binance chain which fees are way too cheap but surprisingly there are still having that huge demand on most tokens sitting on erc20.
Yes, its been a main problem on erc20 on having that huge gas fees on transferring token and this is why most of shit coins or meme coins being created is mostly on binance chain.
You would eventually be able to see and compare it out specially on checking out those DEXe's. Making up some small amount transactions is never been that worth
on which it would really be just that eaten by the gas fees and this is why there are lots of people who had been hating up on making tx on eth chain.
Yes, its been a main problem on erc20 on having that huge gas fees on transferring token and this is why most of shit coins or meme coins being created is mostly on binance chain.
You would eventually be able to see and compare it out specially on checking out those DEXe's. Making up some small amount transactions is never been that worth
on which it would really be just that eaten by the gas fees and this is why there are lots of people who had been hating up on making tx on eth chain.
BEP20 is also quite cheap but try to use the MATIC (POLYGON) chain, it will be cheaper and even very cheap. I quite often use the MATIC chain for some trading on Dex or to make withdrawals from some exchanges or do arbitration using the cheaper MATIC chain. Besides that, chains like TRX can also be another option for cheaper withdrawals compared to having to use an ERC20 chain, which we already know will be very expensive.
only in certain cases I use ERC20.
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