Topic: insane fees on eth (uniswap) - page 3. (Read 749 times)
yes I agree with you, the uniswap gas fee are insane, the lowest cost is 50 $, very not worth it, therefore I use other alternatives besides eth, I use polkadot and binance, I'm sure polkadot and binance can shift eth position if it continues like this
Uniswap transactions take two swap, Token - WEYH- ETH and this is what makes people pay more when they exchanges the token with uniswap, and this is hiw uniswap community taking profit, but it is good for liquidity of the token on it. If you did this at pancake swap it will not charge you that high because Binance smart chain fees is not high as ethereum fees.yhe problem is not on uniswap but on the ethereum network fees.
Couldn't agree more, the fact that BSC centralized is supposedly to keep people who concerned about the idea of crypto in the first place from moving over to it if they could grasp that centralized means CZ gonna be the supreme lord which has authority over this blockchain.
Until this day I keep wondering why most of people choose to migrate to BSC than to other decentralized smart contract platform. I know the migration to BSC is simple but it's still better to move over the same decentralized blockchain than to centralized ones.
Human greed basically. Lately, there's been dozens and dozens yield farms popping up every day on BSC, because it's so cheap.
And greedy people are flocking like flies to shit on them. And guess what, most of them are rug pulls
Recently i have done tx on uniswap. The total fees cost goes 50-80USD. noramlly compare to binance smart chain its huge.
anyway there is "Approve" and "swap" . each there are charging. why there are two things , means approve and swap,
there need to eth 2.0 or BSC needy to replacement this insane network fees... I really fedup
$50 to $80 per trade? wow I could probably use that x1000 to pay trading fees on a CEX or swap on a DEX that runs on BSC alot of times before I would need another gas fees, these high gas fee on Ethereum Network is a big problem, but even though the solution is there ETH 2.0, it seems there are some procedures it has to go through before it's been implemented cause it's a decentralized community, with that said, I don't think Uniswap should move over to BSC, remember BSC is just like a prototype of Ethereum Network,I don't see any need to move over because ETH 2.0 will solve all the current problems ETH network has now. anyway there is "Approve" and "swap" . each there are charging. why there are two things , means approve and swap,
there need to eth 2.0 or BSC needy to replacement this insane network fees... I really fedup
It's not worth it anymore to use defi platform with ethereum network. Due to the gas fee, it is only for the whales. Also I never use uniswap anymore since the first time I use it and they charged me more than $10 for approval.
If you have 10 tokens with each value no more than $100, I recommend you to just wait patiently for exchange listing to sell all of them.
Also i didn’t used Uniswap exchange when it’s entered in the market, actually when i was no coins which need to sell in this exchange. Provably it’s fee was quite high from first time but now it’s extremely high. It’s now the rich people’s exchange. I awaiting to sell a coin which now listed in Uniswap but i'm looking for a new exchange. If you have 10 tokens with each value no more than $100, I recommend you to just wait patiently for exchange listing to sell all of them.
Recently i have done tx on uniswap. The total fees cost goes 50-80USD. noramlly compare to binance smart chain its huge.
anyway there is "Approve" and "swap" . each there are charging. why there are two things , means approve and swap,
there need to eth 2.0 or BSC needy to replacement this insane network fees... I really fedup
anyway there is "Approve" and "swap" . each there are charging. why there are two things , means approve and swap,
there need to eth 2.0 or BSC needy to replacement this insane network fees... I really fedup
You're right! The story around fees on the Ethereum network is already beginning to stir and cause distrust. When I saw how much commission fees to pay on Uniswap, I wondered if Ethereum developers really think that with such commissions they will have more users? As for me, they, on the contrary, are losing ETH holders every day, and many projects are switching to other blockchains. This is all very bad for our community and would love to see this problem resolved as soon as possible.
I havent tried uniswap before. I was planning on swapping my coins on that network but based on your post, maybe i'll pass. Nowadays transaction fees are really expensive, which doesnt make up for the amount of coins that small traders have in their digital wallets. Too costly for my opinion and not worth to transact. That's why others bulk up the amount of coins that they have just so the fees paid would be worth it. Im currently searching for a network that is perfect for bounty hunters and small investors that have affordable transaction fees.
legendary
Activity: 3010
Merit: 1028
Leading Crypto Sports Betting & Casino Platform
Recently i have done tx on uniswap. The total fees cost goes 50-80USD. noramlly compare to binance smart chain its huge.
anyway there is "Approve" and "swap" . each there are charging. why there are two things , means approve and swap,
there need to eth 2.0 or BSC needy to replacement this insane network fees... I really fedup
anyway there is "Approve" and "swap" . each there are charging. why there are two things , means approve and swap,
there need to eth 2.0 or BSC needy to replacement this insane network fees... I really fedup
BSC fee's are the only posivie thing that go into BSC favor. Rest is not.
Fundamentally, BSC is crap, and within a month or two, ETH fee's will come down, and BSC will be dead like xdai and matic
Couldn't agree more, the fact that BSC centralized is supposedly to keep people who concerned about the idea of crypto in the first place from moving over to it if they could grasp that centralized means CZ gonna be the supreme lord which has authority over this blockchain.
Until this day I keep wondering why most of people choose to migrate to BSC than to other decentralized smart contract platform. I know the migration to BSC is simple but it's still better to move over the same decentralized blockchain than to centralized ones.
The thing that I'm worried about the am already happening now where the cost of uniswap transactions be very high, this making the bonty honter suffer a lot, get disappointed and complain a lot, because of the profits and transaction costs is almost the same, this is clearly detrimental to small traders, like the uniswap, not for small traders at the moment, and I think if the management does not make corrections to this problem, traders who use the uniswap will leave Etherem and move to another platform, if this happens I believe the popularity of ETH will decline,
The reason why am not able to buy or invest in any project that is trading on uniswap only, it is ridiculous how people sing praises of the is exchange with high gas fees, it doesn't make sense why a dex should have such high fees, am not a fan, not now not never 
This affected so many investors trying to buy coin during the Defi hype period, that's why most of the project falls in to bsc smart chain for an easy charge, ethereum blockchain is demanding huge charge for a transaction this time, $15 which is equivalent to what some low dude can't afford.
This problem with high commissions occurs mainly in bounty hunters when they try to transfer their earned coins from the wallet to the sale. For those who constantly trade on decentralized exchanges, such commissions are not critical, because the profit received from trading is thousands of dollars.
The small traders are suffering in situations like this and there is no way they are going to trade during these high fees situation thinking they could profit and even big traders who are planning to trade for a much longer time the amount of money they are providing as transaction charges will accumulate and become insane even if they are doing thousands of dollars worth of profit. If ETH does not fix the issue many chains will migrate the platform from ETH to others.
Uniswap is not for small traders anymore. Anyway, a lot of projects are going to BSC already. So if they will not improve their fees, in time, they will lose a lot of customers, even with these big whales. Of course, they always want cheaper fees. And if there is another option, I seriously think, they will go for it. So they should be prepared for that to happen. Traders switching to a better platform.
This problem with high commissions occurs mainly in bounty hunters when they try to transfer their earned coins from the wallet to the sale. For those who constantly trade on decentralized exchanges, such commissions are not critical, because the profit received from trading is thousands of dollars.
The small traders are suffering in situations like this and there is no way they are going to trade during these high fees situation thinking they could profit and even big traders who are planning to trade for a much longer time the amount of money they are providing as transaction charges will accumulate and become insane even if they are doing thousands of dollars worth of profit. If ETH does not fix the issue many chains will migrate the platform from ETH to others.
The reason why am not able to buy or invest in any project that is trading on uniswap only, it is ridiculous how people sing praises of the is exchange with high gas fees, it doesn't make sense why a dex should have such high fees, am not a fan, not now not never
This affected so many investors trying to buy coin during the Defi hype period, that's why most of the project falls in to bsc smart chain for an easy charge, ethereum blockchain is demanding huge charge for a transaction this time, $15 which is equivalent to what some low dude can't afford.But most of those traders and investors who ride with DeFi hypes do have enough money, I'm talking about
those who took advantage of the hypes, even they are paying huge amount for the transaction fees it's been
covered since they are really investing huge amount and expecting high returned profits, it's vety unlikely with
small players, the fee itself already sucked the initial investment so it rather not to participate.
The reason why am not able to buy or invest in any project that is trading on uniswap only, it is ridiculous how people sing praises of the is exchange with high gas fees, it doesn't make sense why a dex should have such high fees, am not a fan, not now not never
This affected so many investors trying to buy coin during the Defi hype period, that's why most of the project falls in to bsc smart chain for an easy charge, ethereum blockchain is demanding huge charge for a transaction this time, $15 which is equivalent to what some low dude can't afford. 
This is one of the problems of investors as well as holders of altcoins and they are looking for a solution on how to save on the gas fee because the eth gas fee is now too high but if the eth 2.0v ends there is a chance that the gas fee will fall and you can transfer altcoins again now, all you can do is hold first.
This problem with high commissions occurs mainly in bounty hunters when they try to transfer their earned coins from the wallet to the sale. For those who constantly trade on decentralized exchanges, such commissions are not critical, because the profit received from trading is thousands of dollars.
In contrast to small traders or anything that has a small income will be a consideration.
I'm sure the gas problem will be resolved soon it just takes time for that.
It is killing the small time traders and bounty hunters. If you were paid in a bounty having a 100$ worth and the eth gas is in 20$ or so + after exchange the withdrawal fee is much likely to be that high. Lucky are those who have big trading portfolios.
As such there is no solution for this. The fee has remained at extremely high level for more than four months now, and the indications are that it will remain like that for for the remainder of this year. I feel bad about the bounty hunters. But they need to look for alternatives. They can contact the bounty manager and request a single ERC-20 recipient address for a large number of hunters. This would make it more affordable to convert the tokens to ETH. Once the tokens are converted to ETH, they can split up the ETH among themselves.
Lol. Topic about fees created on March 17 2021. Where have you been buddy in last 3-4 months? Fees has been like this already for a long time. Just get used to it. Or try to catch “a bit lower fees on saturday/sunday nights”.
I think people are fed up with it, that's why we keep seeing more and more new posts about it, it is not new but people still want to talk about it and that's the problem, nobody is fine with this, and old topics become huge and get lost, so they start a new one to tell what they want to tell and be seen about it as well. This is why I think it is obvious we could have many topics about this and we will keep seeing these things in the future as well, instead of going against it, we should join in.I have personally stopped using ETH blockchain, moved fully to BSC and since I made that change I have spent maybe 50 bucks on all of my moves and I make at least a few every single day for the past month, that shows you how cheap BSC can be. I can tell you that it would take me just one approve and swap on a token to pay more than 50 bucks on uniswap if I stayed there.
The reason why am not able to buy or invest in any project that is trading on uniswap only, it is ridiculous how people sing praises of the is exchange with high gas fees, it doesn't make sense why a dex should have such high fees, am not a fan, not now not never
It is killing the small time traders and bounty hunters. If you were paid in a bounty having a 100$ worth and the eth gas is in 20$ or so + after exchange the withdrawal fee is much likely to be that high. Lucky are those who have big trading portfolios.
It was killing all of the little shrimps that used ethereum service as you can see that there are bunch of complaints about that and that has proven that if uniswap is not worth anymore to be used by the small traders. two digits fees for a single swap transaction and that's more than crazy.
Even the big traders are also complaining about that dude. The miners were killing this chain
It is killing the small time traders and bounty hunters. If you were paid in a bounty having a 100$ worth and the eth gas is in 20$ or so + after exchange the withdrawal fee is much likely to be that high. Lucky are those who have big trading portfolios.
The ones doing the transactions now are of course those who have big trades.if we look at token trading on uniswap. apart from high transaction fees. most transactions are of great value. that is because if they transact with a small value it is clear that they will only be thrown away for a fee.
Jump to: