Lowest withdrawal fee for ETH? - page 2.

rozak

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Quote from: m2017 on February 16, 2022, 07:04:11 AM

Waiting for Ethereum updates can take a long time and I'm not sure if the next update will help reduce fees soon. I'm leaning towards the version that the problem of this topic starter is not solvable. He wants something that is impossible in the current realities. Either he wins his greed and pays a high commission, or let him not touch these coins until new updates.

waiting for all updates to finish is certainly very long. but I have faith, this problem will be solved in the future.
The problem to be solved is not something simple. we have to be patient waiting for it.
while waiting, we can take advantage of the network provided by other platforms to continue to benefit. rather than expecting something that is still very far away. we can take advantage of something cheaper. we don't have to bother or compare with others. Complaining I don't think there will be any good results.

jc12345

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Quote from: kentrolla on February 15, 2022, 08:18:15 AM

I have USDT worth $100 in myetherwallet but i don't have enought ETH for gas and now the gas is costing approx between $5 to $15 as it's dynamic but if i have to transfer the ETH from my CEX wallet it's costing me around $10 to $16, please suggest me a way to shill out less as I am trying to find a way to bypass this hefty withdrawal fee applies for ETH in CEX and I have alredy tried exchanges like shapeshift, changelly but they minimum order quantity is more.if i pay gas fee at myetherwallet and withdrawal from in CEX to transfer the ETH to MEW for withdrawal of ETH and gas fee then i will end up losing almost 30%-40% of amount which I am trying to withdraw. Looking for some reasonable suggestions to avoid hefty fees.

Here are some pointers:

The first thing is that you need to pay gas fees in the source network native token when you want to send tokens. I wont judge you for this, but in your case you have a small amount of ETH based USDT in your myetherwallet. The thing is, unless it is a historical reason, you only store/own tokens on ETH if it is large quantities of tokens or if you are rich. Since you are concerned about $100 I presume that you made a mistake or it is a historic thing and you forgot about the USDT in that account.
The second thing to realize, is that there is no way for you to move those tokens without depositing the required ETH for fees, as ETH is the native token of the ETH chain on which you have the USDT
Once you made peace with point two you can do one of three things (1) wait for the merge and POS and hope fees drop, (2) wait for a drop in gas fees and choose the lowest amount on the gasstation and firstly fund your account with ETH and then send the USDT with the required ETH gas fees and lastly (3) look for a method to reduce gas fees further.
If you decide against the first two options of the third bullet, you should realize that Myetherwallet is a bit difficult to pair with new DeFi options for lower gas fees. You will struggle to get your private key out of MEW but you can try to restore your 24 words seed phrase to another wallet that is easier to get your private key from. Once you have exported your private key from such a wallet, you can try importing the private key to Metamask or another type of Web3 wallet that supports DeFi platforms
Once you have such a wallet going, then you need to execute bullet two above subject to bullet one. You can then use the new wallet to find a good route for cheapest fees to swap to another token that is cheap gas fees like BNB BEP20 or USDC BEP20 or any other version of token accepted by the CEX you want to send to. From there you can send away cheaply
Once you have such a wallet going, then you need to execute bullet two above subject to bullet one. You can then use the new wallet to find a good route for cheapest fees to swap to another token that is cheap gas fees like BNB BEP20 or USDC BEP20 or any other version of token accepted by the CEX you want to send to. From there on you can send away cheaply, or perhaps through the swap you swapped to your destination token without the need to send to a CEX first. Whatever you do, unless you are rich, never ever withdraw anything ETH related from an exchange as it will cost you an arm and a leg as exchange withdrawal fees are very high to ensure their transactions go through and they dont risk lower fees.
A good current platform to swap to get the best rates and route is rubic.exchange

m2017

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Quote from: tyz on February 16, 2022, 06:43:57 AM

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The ETH gas fee for sending tokens is already unreasonable, I have also tried many platforms to send tokens and the gas fee is always above $40, even when the ETH price drops but the gas fee does not go down and I recommend transferring the token immediately as long as we still have it profit from gas cost difference.

If you don't need to transfer them urgently, then I would wait for the next major updates/upgrades of Ethereum. At least it is promised that then the gas fees should drop significantly, which I am not completely convinced of, but I assume that those who claim this have an idea about the changes and can better assess this.

Waiting for Ethereum updates can take a long time and I'm not sure if the next update will help reduce fees soon. I'm leaning towards the version that the problem of this topic starter is not solvable. He wants something that is impossible in the current realities. Either he wins his greed and pays a high commission, or let him not touch these coins until new updates.

leea-1334

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One solution would be to use wrapped ETH perhaps? I mean, it is not real ETH but you can opt to receive wrapped ETH on Binance Smart Chain maybe, and then using pancakeswap to withdraw it to Binance CEX, which is still ETH in the exchange.

You need BNB to pay for fees but it is still cheap at the time being.

tyz

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The ETH gas fee for sending tokens is already unreasonable, I have also tried many platforms to send tokens and the gas fee is always above $40, even when the ETH price drops but the gas fee does not go down and I recommend transferring the token immediately as long as we still have it profit from gas cost difference.

If you don't need to transfer them urgently, then I would wait for the next major updates/upgrades of Ethereum. At least it is promised that then the gas fees should drop significantly, which I am not completely convinced of, but I assume that those who claim this have an idea about the changes and can better assess this.

LogitechMouse

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I'm not using FTX since many people are recommending it because of its low ETH fees but if you are comfortable sharing your personal information to them then just create an account on that exchange.

If you really want to withdraw that 100$ in your MEW, there is no way around but to pay those ridiculous ETH gas fees. Well, as long as you are not paying more than the total amount of money that you want to withdraw then it is all good if you really want to withdraw it. This is the reason why I'm not using ETH anymore when I'm transferring coins/tokens. The fees are very high that I can't afford it anymore.

Ngewex Yuk

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Total my ERC-20 tokens are currently around $520, unfortunately the high gas costs make me no profit if I transfer, especially for the conversion from ETH Lend to AAVE which takes more than $200, there is no solution whatsoever from the expensive gas costs and it looks like the ETH team will never lower gas costs for various reasons.

Kocret02

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Quote from: ?? on ??

The ETH gas fee for sending tokens is already unreasonable, I have also tried many platforms to send tokens and the gas fee is always above $40, even when the ETH price drops but the gas fee does not go down and I recommend transferring the token immediately as long as we still have it profit from gas cost difference.

It's been unreasonable for a long time so it needs an option to move to another network so I personally also no longer use the Ethereum Network to make any transactions, and in my opinion transactions on the Ethereum Network are also still very dense so the amount of Gas transaction fees can't be reduced even though the price of Ethereum is going down.

Mpamaegbu

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Quote from: Zotak337 on February 15, 2022, 12:35:10 PM

There is no way to avoid paying for the gas fee needed to send your USDT out, I have a few tokens in my wallet that range from 40% to 120% that I can't send out due to high gas fee when sending tokens on ETH smart contract.

It's really sad that we get to face this exorbitant gas fees of ETH ceaselessly. If not for its smart contact feature, I'm cocksure ETH would've been dead by now. It's so annoying to the point of frustration. I've had to miss out on transfers from non-custodial wallets to exchanges because of that and on few occasions those tokens I earned through tasks I embarked on evaporated. It doesn't make sense to me to pay anything $10 and above for transactions. Nah! I rather wait it out. I usually avoid any token that has only ETH pair when I'm trading on exchanges. It's really disheartening. ETH is the reason BSC became very popular.

WalkerIVIV

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Quote from: Jaered on February 15, 2022, 07:16:46 PM

Sorry bro. I don't think there's a way out of this that wouldn't cost you some ethereum gas.

The user will always need to pay the fees and so many people are trying to avoid to pay very big fees when they wanna create in chain transaction on ethereum blockchain and they were not even able to decreasing the value for the gas fees.
Remember that it can be seen from the chart of the fees is quite stable these days and it will be useless waiting for the fees to go down again. This will not work and im sure about this.

cryptoaddictchie

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I think FTX is good. You dont have any other options but to fund your wallet with eth for fee. This is inevitable unless you dont want to cash out the usdt into fiat right? Thats the only fee youll get burden cause when the eth is on the cex already the fees for trading is very minimal and you wont feel that you have paid something from it. The best thing you do is standby and wait for the gas fee to lower or find a time where you could buy eth and used it for this.

bluebit25

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I see there are some cex have special offers to withdraw ETH with low cost, you can visit more at FTX. But in my personal opinion, it is advisable to limit trading small amounts on ERC20, although things are much better than before, it is not suitable for those who tend to trade often and small. If you have to use it for your needs, then you have to accept the fee and that's why you need DYOR.

yohananaomi

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I can't seem to come up with a solution because I haven't found it myself and have tried to try it, but it seems that there will always be difficulties when using the ethereum platform to get cheap gas costs.
if you wait a certain time for gas costs to come down, it is likely to be difficult to realize, if you delay then you will also be disadvantaged with funds that should be used for other things. all returned to you or wait until indeed ethereum will lower gas costs.

sheenshane

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The same problem on my token that I wanted to sell but I don't have enough gas fee.

So in this case, it seems there's no other option is to have a small amount of Ethereum just to cover the fees. There's no way that your USDT will out without Ethereum as your gas fee.

The same on me, I was hoping and keep monitoring the Gas tracker when the gas fee will become lower.
If you can hold just let your USDT sleep on that wallet and at least you know it's safe or else, you will sacrifice those losses just to get your fund and pay the high fees.

Jaered

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Sorry bro. I don't think there's a way out of this that wouldn't cost you some ethereum gas. The only thing you can do is to keep on monitoring the gas fees to know when it drops to an acceptable level for you

TastyChillySauce00

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the only logical way of having cheap withdrawal fees for your ETH is just to simply wait it out, there is like no other way besides of it that’s the reason so many projects are now migrating in other chain like matic.
if you observe further the gas fee required fluctuates a lot, that opens up a chance for you in having cheap gas fee and reducing the amount of money needed by finding the right timing, basically the moment the fee reduced.
and of course waiting like this doesn’t necessarily guarantee that you will eventually find the right chance, if you really can’t wait it out then there is simply no way but just to pay the ridiculousy high fee itself just like any other people.

I see no solution for your problem. No ETA about when the fees will be going down as well as it seems the chart shows that average fees on ethereum blockchain is very stable. It never gets decrease again.

Zotak337

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There is no way to avoid paying for the gas fee needed to send your USDT out, I have a few tokens in my wallet that range from 40% to 120% that I can't send out due to high gas fee when sending tokens on ETH smart contract.

Teraboy

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This is a very difficult thing for sure. The only problem is you need fill your wallet with ethereum to be able to send the money from your wallet. I think that we have no solution for this even if there was a tool to make it cheaper but it will not work perfectly. The gas price is determined by the blockchain and i think you have no choice other than paid a lot of fees to take your token from your wallet.
Im also looking for this but i know that this is blockchain and this can't be fooled as everything in the blockchain determined by the system. The system itself alreayd fully programmed by the developers.
i know what you feel to pay a lot of fees for a single transaction. You need to send it when people are not so busy in ethereum network.

marilynmanson21

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Quote from: Psynthax on February 15, 2022, 08:22:58 AM

FTX will charge you around $4 - $5 for any ethereum transaction to your myetherwallet. This exchange site is operating based from traders to traders. FTX gives you discount to pay some of fees from your transaction. It's caused by this exchange site was allocating some percents from its revenue to its users. There's no other exchange site that was doing this thing. FTX is the only one and it's worth to try. I hope this will help you. There's no way to cut your transaction fees to make it even cheaper.

Is there a minimum transaction for diFTX? It's been a long time since I followed the info about FTX providing another low cost from the others
so is it true that the news I received if we send ETH from FTX must be in the same wallet, it can't be any other wallet other than the wallet we used for the first time to send ETH to mEW

please help me for the explanation of the news i got

makishart

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You have no choice other than try to deal with such amount to take your USDT out from your wallet to the CEX. You need to send ethereum from CEX to your wallet and then send back your USDT again to the your cex account and this will cost you double transaction fees. Even if you are try to avoid this and it will be useless. You need to pay that doubled and you have no choice other than doing two transactions to be able to take your 100 USDT or it will always be on your wallet and you can do nothing about that.

Topic: Lowest withdrawal fee for ETH? - page 2. (Read 376 times)