I also don't like to pay commission for money transfers or purchases, as I prefer to bypass such situations. So at the moment I just invest in TFS and keep staking their tokens at a high APY
never understood it, but thanks to the commission many projects live and not only in cryptocurrency 
Topic: I can't keep up with the High gas fees (Read 579 times)
Simple solution, don't use coins which need high fees to make transactions. I also hate paying high fees and to me, anything over $1 is high unless I send a big amount of money. Sending crypto-currencies has to be cheap. Expensive transactions kind of kill the purpose of crypto, that include Bitcoin. I shouldn't pay $10-20 fee to send money to my friends abroad.
Just wonders why people would engage a different system with a similarity where they obtains expected results and gaining the potentials of the first system.😏@ EFS even the $1 dollar seems high considering the transaction rate value.
The value of gas should be rated by the minimum value of transaction value. This is why you have to let your coins accumulate so you can transact hugely on a lower charge depency.
Of course such high fees as charges can only be tolerable after evaluation of transaction values (hug amount) considering your interest gained in exchange else I would say a a swindling scheme.
Simple solution, don't use coins which need high fees to make transactions. I also hate paying high fees and to me, anything over $1 is high unless I send a big amount of money. Sending crypto-currencies has to be cheap. Expensive transactions kind of kill the purpose of crypto, that include Bitcoin. I shouldn't pay $10-20 fee to send money to my friends abroad.
For Ethereum coins network have lower fees gas right now but not stable for few days later keep in lower or higher again, actually current gas is most cheapest for Ethereum coins network and most excited for sending coins from wallet to exchange account or has possibilities with arbitrage coins have ethereum network. But for Ethereum coins network have not stable gas fees price, some time up and down depend how busy of transaction and make fees up suddenly. If have coins with Ethereum network is good ideas send it or deposit to exchange account if want get lower fees and seems under 7 gwei only taken under $1 as fees transaction.
Don't make it waiting for upcoming days send coin with ethereum network because upcoming next day has chance for gas or fees up again.
Don't make it waiting for upcoming days send coin with ethereum network because upcoming next day has chance for gas or fees up again.
The Ethereum network is very susceptible to spamming of various transactions related to memcoins and other shitcoin garbage. Usually, when there is a micro-hype on some token, it is immediately reflected in the price of gas. There are too many useless projects deployed on Ethereum that clutter the blockchain and inconvenience regular users. It is unknown when these scalability issues will be resolved.
You're right. Once upon a Time there wasn't much choice, you either pay the crazy gas fees on ETH or you forget transacting. But today, there are so many cheap alt to choose from with low gas fees.
But the problem now is, what if,. for example you are buying a token and that token is only on the ETH network? There isn't much choice now, you either pay the high has fees or forget buying the token.
If you want to buy or invest in altcoin, then you must choose the right coin. And if that coin belongs to ERC-20 network. Then you have to pay network fee by investing on your volume. That's why I suggest you to buy BEP-20, sol, polygon network coins, which will give you many benefits in the transaction. Although most of the good coins are ETH.
There are many coins in the crypto market that can give you good profits and network fees are very low. Among all the networks, polygon network has the lowest coin fee.
Most new projects on the other altcoins are shits, it's easy to scam people. That's not to say that project on the ETH network doesn't scam, but due to the high has fees, some people tend to avoid it and run to projects on the bep20 which will easily rug
You're right. Once upon a Time there wasn't much choice, you either pay the crazy gas fees on ETH or you forget transacting. But today, there are so many cheap alt to choose from with low gas fees.
But the problem now is, what if,. for example you are buying a token and that token is only on the ETH network? There isn't much choice now, you either pay the high has fees or forget buying the token.
But the problem now is, what if,. for example you are buying a token and that token is only on the ETH network? There isn't much choice now, you either pay the high has fees or forget buying the token.
If you really like that token and you see the potential then go for it... I guess that paying high fees now can pay off one day if the token you chose to invest makes some significant rise one day. We all know it's hard to hit a gem among all those projects out there, but I still believe there are gems and some projects definitely have a nice future.
Yeah. True, if the token has potential, it will be easy to look away from the high has fees and go for it. But sometimes it doesn't always work that way. For instance you see a token wanted to invest say like 20$, the gas fees will be like 10$ or so, then the token does x2 and you want to pull out your capital, you discover that if you do so, it cost you another 12$ gas fees. 40$ - 12$ - 10$ = 18$.
Now you see why people without deep pockets often run from eth project
Things are much better than the period the OP mentioned,
but I personally don't have a harsh view on fees. To be fair here, the limitations that Ethereum has not yet met have been discussed a lot, but it is clear that this is a decentralized space, and if you don't want to, you don't need to force yourself to use it, it brings freedom. When the growth period occurs, people will still be willing to pay more for fees. There are other options to use and save more on fees, but I still want the OP to think about whether the transaction fee is worth worrying about when starting to invest.
Don't make it waiting for upcoming days send coin with ethereum network because upcoming next day has chance for gas or fees up again.
What do you think would be a solution to this not everyone would be able to keep up with this especially in everyday transactions?
Is it a necessity for you to pass transactions at that moment when the gas fee is at its highest (or around it)? If not then time it instead. Maybe create (or hire someone to make it) a bot that can automatically transfer your coins when the gas fees are at their lowest. Trying out other networks as well might work out on your end. I haven't experienced such high fees though, at least if you compare it to that period where fees were insanely high (and the reason why I just straight out stopped trading and started hodling some of my coins).It's probably not practical if you're going to transfer coins with low volumes in large amounts though (for some reason). You'd probably get hit with too much fees, regardless whether said fee is high or not really.
I also don't like to pay commission for money transfers or purchases, as I prefer to bypass such situations. So at the moment I just invest in TFS and keep staking their tokens at a high APY
Things are much better than the period the OP mentioned,
but I personally don't have a harsh view on fees. To be fair here, the limitations that Ethereum has not yet met have been discussed a lot, but it is clear that this is a decentralized space, and if you don't want to, you don't need to force yourself to use it, it brings freedom. When the growth period occurs, people will still be willing to pay more for fees. There are other options to use and save more on fees, but I still want the OP to think about whether the transaction fee is worth worrying about when starting to invest.
maybe the right solution is to use other networks such as bsc, matic and tron or you can also use the zkevm network, the network that I mentioned is very cheap than you transact with the eth network, and there are also some defi on each network that are not less interesting than the eth network.
I also think what the OP means here is altcoin transactions, especially ETH. Many other users also complain about high gas fees and what they mean is ETH. I also recommend users to use other networks, especially when making transactions in small amounts. Currently BSC is my favorite network for transactions because it is available on many exchanges. There are also other networks such as Polygon and Tron which in my opinion are cheaper. In the end, the problem actually has a solution from the answers of the users here.
When I mention "high gas fees," I'm referring to fees that surpass the current charges imposed by Visa and Mastercard. After all, decentralized finance (DeFi) aims to compete in this space. Is it reasonable to anticipate that individuals investing thousands of dollars should be content with paying tens of dollars in gas fees for each transaction, especially during what we consider "busy" periods?
What do you think would be a solution to this not everyone would be able to keep up with this especially in everyday transactions?
What do you think would be a solution to this not everyone would be able to keep up with this especially in everyday transactions?
When you mentioned "high gas fees," I assume you are referring to the altcoins network, right? In that case, I think you need to move this topic to Altcoins discussions.
Anyway, this is what I found regarding current transaction fees:
That does not seem too bad. What are the current fees for credit card transactions?
- It's only 1.4$ something on the ETH network; it's low compared to others. What exchange is this, mate? Because on Binance, the gas fee is around 2-4 dollars, as far as I know, that's where the gas fee plays. Then, the rest is really low.
I just don't understand, mate, what he really wants to point out in the topic on which he did this. Does he not want a gas fee when he does a transaction? Because if there is a gas fee deducted from our balance, it won't affect us in any way because that's normal, right?
Then, if we compare it to the government tax that is taken from their subjects on the products that we buy because we need them on a daily basis, we are not complaining about this crypto business, which is even more modest.
Getting high fees really depends on the market. But, as I check today's fees are not too high if you compare it before when BTC and altcoins are soaring up high. If you really want to avoid high fees then avoid the BTC and ETH networks, and switch to altcoins that offer low fees.
its always better if you cans witch to L2 then avoid the high gas fee because usually L2 are significantly cheaper since the sole reason L2 exists becuase its to prevent high gas fee.
many tokens are also already deployed in L2 like stablecoin so I guess for basic use L2 is best right now.
many tokens are also already deployed in L2 like stablecoin so I guess for basic use L2 is best right now.
just sending ethereum will definitely only charge $2 or less, but honestly when it comes to swapping using dexes, executing smart contract that fee increases significantly that somtimes it will require $20 just for simple swapping, I don't think thats really fine with most of people, surely ethereum in this case needs some fixing.
I have already begun to forget when I had to pay such a high commission. Now the cost of transactions on the Ethereum network has significantly decreased and if you choose the right time to carry out your transactions with a Gwei of 7-10, then you will not have to pay such high commissions.
maybe the right solution is to use other networks such as bsc, matic and tron or you can also use the zkevm network, the network that I mentioned is very cheap than you transact with the eth network, and there are also some defi on each network that are not less interesting than the eth network.
That should be the case, now there are many options for delivery, unlike before there were not many choices. If it enters the ERC network, be ready, the coins we have will become antique collections and ultimately have no value.
When I mention "high gas fees," I'm referring to fees that surpass the current charges imposed by Visa and Mastercard.
If you only make a small transaction, you will probably feel the costs you will incur. and here you are required to be patient and diligent in checking gas costs when making a delivery, as our friend said before, the shipping cost on the eth network is only more or less 2$, still within reasonable limits I think
When I mention "high gas fees," I'm referring to fees that surpass the current charges imposed by Visa and Mastercard.
If you only make a small transaction, you will probably feel the costs you will incur. and here you are required to be patient and diligent in checking gas costs when making a delivery, as our friend said before, the shipping cost on the eth network is only more or less 2$, still within reasonable limits I think You're right. Once upon a Time there wasn't much choice, you either pay the crazy gas fees on ETH or you forget transacting. But today, there are so many cheap alt to choose from with low gas fees.
But the problem now is, what if,. for example you are buying a token and that token is only on the ETH network? There isn't much choice now, you either pay the high has fees or forget buying the token.
If you want to buy or invest in altcoin, then you must choose the right coin. And if that coin belongs to ERC-20 network. Then you have to pay network fee by investing on your volume. That's why I suggest you to buy BEP-20, sol, polygon network coins, which will give you many benefits in the transaction. Although most of the good coins are ETH.
There are many coins in the crypto market that can give you good profits and network fees are very low. Among all the networks, polygon network has the lowest coin fee.
It's not yet practical, that is true. For an average person who will make transactions daily, this will hurt their financial budget if all of a sudden we rely on cryptocurrencies as the main currency for every transaction. Like for example buying a pack of cigarettes will cost us $6 which could have been $5. An average person will not buy the whole rim of it just to save money because the budget won't be enough.
Well, the good thing is, we are not yet in that kind of world. Right now, I can see a lot of applications offering a wallet to use for purchase using the currency of their own. I think that's the only solution for now, you could maximize the use of one transaction, or you could decrease the fees by using dynamic options but it will take longer than using the normal gas fees.
Well, the good thing is, we are not yet in that kind of world. Right now, I can see a lot of applications offering a wallet to use for purchase using the currency of their own. I think that's the only solution for now, you could maximize the use of one transaction, or you could decrease the fees by using dynamic options but it will take longer than using the normal gas fees.
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