Network fee for Metamask Swap | Bitcointalksearch.org

shinratensei_

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Quote from: Drigo54321 on February 19, 2021, 11:13:10 AM

Why is this so high and is there a solution to trade with a normal network fee in the MetaMask wallet?
Or is there another way to trade by uniswap with a normal network fee?

Yes, there is. You should download imtoken mobile wallet and import your privatekey that contains your token and ethereum to the imtoken wallet. You must connect it through use wallet connect on uniswap.
On imtoken you will be able to choose how much fees that you will be paid to trade on the uniswap.
Metamask is always facing inaccurate data about the fees and so many people have been complaining about that. Idk what formula that already used by metamask to calculate the average fees.

Drigo54321

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Hi all,
I have the same problem, I’m starting with uniswap trading with a MetaMask wallet. The fee on uniswap is normal but when I connect to my MetaMask wallet and want to swap my coins there is a MetaMask network fee of $100,-
Why is this so high and is there a solution to trade with a normal network fee in the MetaMask wallet?
Or is there another way to trade by uniswap with a normal network fee?

Africahead

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today the same happened with another transaction forming a liquidity pool for Divided Party (DiP) tokens, however this time it happened with Trust wallet. First, a maximum fee of around 250 USD was automatically included. I could change the maximum on the Trust wallet to around 20 USD. i checked the latest "network fees" charged with the contract, and it was roughly 10 USD. i made provision for 20 USD. the whole 20 USD was gulped fairly quickly, and the transaction "failed", with the explanation "out of gas". the gas charged was double the gas, of the most recent successful transactions, and the transaction failed. transaction url: https://etherscan.io/tx/0x7e56ecafe93803be0f69313545846a184674b13af045554b10e6eb1f7ad5408f

Africahead

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i have been using Metamask for some time. the "network fee" is dangerous because it is the maximum, which can be deducted from an account, for a transaction. i recently put Moyom (MYM) utility token in a liquidity pool with ETH. The following happened: about three times the transaction failed, with costs higher than the average each time. the last time i tried, the transaction went through, when i accepted the high network fee. the cost deducted for the transaction was exorbitant; it was more than 60 USD, and what made it worse, it was deducted in a second, and the transaction went through in a second. a node, mining that transaction, thus had a way to quickly charge a huge fee and quickly mine the transaction. the gas was not used at a speed, one could say, mining at a legal speed. the gas was absorbed at an unusually high rate, which was unacceptable, and i allowed it, because i wanted the transaction to be mined "badly".

Bitcoin_Arena

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It would have been easier if you had included the transaction ID in your post. I think metamask has no problem
When swapping tokens, there are 2 things you should know about;
1. The gas limit of the token
2. The number of contract calls involved in the swap process. Each contract call need a transaction fee of its own

What is contributing to the estimated high transaction fee you see right before you confirm the transaction on your meta mask is the Gas limit. Gas limit is the estimated maximum amount of fee you are willing to pay for a transaction but I don't mean you will pay all the amount in most cases

For example your token is POLS, I did some digging and its gas limit is at 770,000 which is very high but in the actual transaction only gas of 170,000 can be used to confirm the transaction while the rest is returned to your address.

E.g Check out this POLS transaction - https://etherscan.io/tx/0x0d7362c5bdb8bc3210d17b5de002f474bb8daf4187e178cf9d89f1facf78373a

Only 22% of the gas out of the 770,000 gas limit was used for the transaction.

Cryptomiles1

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Quote from: nlrol on December 10, 2020, 04:32:23 AM

Hello, I just started to use Metamask, and I did a small swap to see how does it work. I swapped 0.1 ETH to POLS. When I check the transaction I see the following:

Amount: 0.1 ETH
Network fee: 0.06622 ETH
Total amount: 0.16622 ETH
$98.2676

After the transaction I can’t see this high amount of fee on my balance, but if it doesn’t affect my balance then why I see these numbers?

Thank you!

Could it be you have 0.16 ETH or you have 0.1 ETH as the case may be and after every you were charged 0.06 ETH. Now there are two things involved, either you have already 0.16 ETH in you wallet to covers the gas fee or you were being charged 0.06 from 0.1 ETH which would now letft you with 0.04ETH otherwise it's your initial balance that is being added to get 0.16 ETH.

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Quote from: Chelsea2021 on December 12, 2020, 09:59:54 AM

Metamask swap network is well secured platform i have never seen, with a high security and saved and secured usage, in other words metamask charge fees is very high on any given transaction.

Even the best system has flaws. In information technology, there is no such as perfect system. Just remember a few days ago when Facebook messenger got problem.
And that is a multi billion company's system and that is why bug do occurs in other systems like Metamask wallets.

litepool.ru

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Quote from: nlrol on December 10, 2020, 04:32:23 AM

Hello, I just started to use Metamask, and I did a small swap to see how does it work. I swapped 0.1 ETH to POLS. When I check the transaction I see the following:

Amount: 0.1 ETH
Network fee: 0.06622 ETH
Total amount: 0.16622 ETH
$98.2676

After the transaction I can’t see this high amount of fee on my balance, but if it doesn’t affect my balance then why I see these numbers?

Thank you!

I also noticed that when i tested the metamask, the updated metamask added the swap feature. This is very convenient for the user but the current problem is that the fee swap token on the metamask is too large, maybe due to the recent update it is not finalized, i think this problem will be solved by the metamask soon. next time.

Findingnemo

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Quote from: nlrol on December 10, 2020, 04:32:23 AM

Hello, I just started to use Metamask, and I did a small swap to see how does it work. I swapped 0.1 ETH to POLS. When I check the transaction I see the following:

Amount: 0.1 ETH
Network fee: 0.06622 ETH
Total amount: 0.16622 ETH
$98.2676

After the transaction I can’t see this high amount of fee on my balance, but if it doesn’t affect my balance then why I see these numbers?

Thank you!

Did you checked the decimals and numbers accurately? I never found such an insane amount of fee for a swap.

Well, you are confusing with the calculations here, total amount is 0.1eth and network fee is 0.066eth so you need to subtract network fee from the total funds to get the actual value which is supposed to be 0.0.0035eth.

Is this value shows up?

jamalaezaz

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Quote from: RabbiTANK on December 11, 2020, 01:22:31 AM

Metamask gives unrealistic transaction fee some times and when you make the transaction it will deduct very little gas fee and add the rest back to your balance, I think it's some kind of bug or flaws in the system, I prefer other wallets like trust or coinomi wallet where I can customize gas fee myself though

does trust wallet support all the web3 websites? my reason of using metamask is just because I can connect my wallet with swaps and other web3 applications and use the sites freely without any further registration. and I think most of other people have the same reason too.
if trustwallet can do that then I will probably prefer to move to trustwallet.
Coinomi I know is not a web3 application.

shoreno

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Quote from: RabbiTANK on December 11, 2020, 01:22:31 AM

Metamask gives unrealistic transaction fee some times and when you make the transaction it will deduct very little gas fee and add the rest back to your balance, I think it's some kind of bug or flaws in the system, I prefer other wallets like trust or coinomi wallet where I can customize gas fee myself though

do regular users of meta mask are already aware with that ? maybe yes and your one of them because you wont comment like this if you dont use meta mask but do you feel comfortable like everytime you use meta mask you just ignore the high fees it show ? but what if it deducts you the exact amount it shown . scary stuff right there . i havent tried using meta mask in my long years here in crypto and i think i will never ever try if they wont fix that bug/issue and besides there still other wallets out there or other way to connect and access our wallet .

Chelsea2021

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Metamask swap network is well secured platform i have never seen, with a high security and saved and secured usage, in other words metamask charge fees is very high on any given transaction.

joniboini

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Quote from: RabbiTANK on December 11, 2020, 01:22:31 AM

I prefer other wallets like trust or coinomi wallet where I can customize gas fee myself though

You can also customize the fee on MetaMask, can't you? I agree that this might be a bug, but sometimes a contract requires a very high gas limit. You can edit manually, or just lower the gas price. Don't know the exact reason but probably the smart contract you're interacting with requires a lot of gas to be executed.

Keep in mind that you also pay an extra~ ~1% fee if you use the swap feature, so might as well access Uniswap directly if your token is tradable over there.

cryptoaddictchie

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Ethereum network really ate too much of the fee and especially when the network is heavily used. The fee for that trade is not worth it. The fee is estimated to be 60% of your purchased seems its better if you bought polkastarter on a centralized exchange. Metamask fee sometime is really odd or confusing. Ive experienced this kind of situation too when I checked the fee and the deducted amount on my balance.

Quote from: Raflesia on December 11, 2020, 09:28:20 PM

If this is some kind of bug then a system like this should be taken as little as possible. People will not pay attention to it but afterwards will be surprised at the high cost.

Its better to know then report it to their support to take a look and check some errors if there is they can fix those errors.

erikoy

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Quote from: casperBGD on December 11, 2020, 03:17:06 PM

Agree, this might be the reason why OP get confused. I never thought of it until I saw or read the reply.

Anyway, Why bother when you get your balance then that will be your balance. You should worry when after sending your balance is bigger than what you expected? Instead of wondering better thank metamask if this event is some sort of a bug in the system. You know that every system has flaws and are not perfect.

Raflesia

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Quote from: RabbiTANK on December 11, 2020, 01:22:31 AM

Metamask gives unrealistic transaction fee some times and when you make the transaction it will deduct very little gas fee and add the rest back to your balance, I think it's some kind of bug or flaws in the system, I prefer other wallets like trust or coinomi wallet where I can customize gas fee myself though

Surely ordinary people will be surprised to see the high fees we make transactions on Metamask, I have also experienced something unusual like this, but I always check transaction fees so if it is expensive I don't use it, it's better for another wallet that can set up fee rules we want but that is also according to what is sent in the token.
If this is some kind of bug then a system like this should be taken as little as possible. People will not pay attention to it but afterwards will be surprised at the high cost.

coupable

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Quote from: GreatArkansas on December 11, 2020, 01:07:10 AM

Quote from: nlrol on December 10, 2020, 04:32:23 AM

(...)
After the transaction I can’t see this high amount of fee on my balance, but if it doesn’t affect my balance then why I see these numbers?
(...)

If you already calculated the fee deducted from your account and all are correct even you connect/disconnect or re-connect your Metamask wallet, then it's good to go.
Maybe it is just some visual bug? Or something problem with the browser you are using.
If you still got a problem with it, you can contact their support here: Submit a request

It's not a visual bug. I encountered the same case many times recently when i tried to swap one alt to eth. MetaMask gives the ability to choose the best rate between available Dexs. When i choose to swap using UniSwap rate, the deducted fee is so big far compared to the fee using UniSwap directly. I can't figure out how MetaMask makes those calculations then didn't going deep because easy to connect my address into Uniswap and get the swap done without complications .

SiNeReiNZzz

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As has already been said here, it is only an ESTIMATED fee.
On simple Ethereum transactions the estimates mostly apply similarly.
For TOKEN transactions, the estimates often deviate sharply from reality...

casperBGD

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Quote from: nlrol on December 10, 2020, 04:32:23 AM

Hello, I just started to use Metamask, and I did a small swap to see how does it work. I swapped 0.1 ETH to POLS. When I check the transaction I see the following:

Amount: 0.1 ETH
Network fee: 0.06622 ETH
Total amount: 0.16622 ETH
$98.2676

After the transaction I can’t see this high amount of fee on my balance, but if it doesn’t affect my balance then why I see these numbers?

Thank you!

network fee that MetaMast provided you is the maximum amount that could be taken from you with this transaction, and real network is usually different, somewhat smaller that this amount
is the transaction successful? if yes, you can post the transaction ID, and someone will clarify to you what the actual fee was

nevertheless, I would never swap 0,1 ETH with 0,06 ETH fee, it is 60% fee, which is far too much for any type of transaction, you should carefully pick time for transactions, when gas is lower, and current gas could be seen on https://www.ethgasstation.info/ , check it always before transaction, and try to do this smaller transaction when gas is lower, below 20 for sure, and lower if possible

kakonhat

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I saw it's too much higher fees. I don't like it at all. However, you must check ETH network gas fees https://etherscan.io/gasTracker before making any transaction. And the other things is you can change gas fees manually in Metamask swap. When you swap you can see this option Max Network fee (edit), from here you can input gas manually to reduce some fees.

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Metamask gives unrealistic transaction fee some times and when you make the transaction it will deduct very little gas fee and add the rest back to your balance, I think it's some kind of bug or flaws in the system, I prefer other wallets like trust or coinomi wallet where I can customize gas fee myself though

GreatArkansas

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Quote from: nlrol on December 10, 2020, 04:32:23 AM

(...)
After the transaction I can’t see this high amount of fee on my balance, but if it doesn’t affect my balance then why I see these numbers?
(...)

If you already calculated the fee deducted from your account and all are correct even you connect/disconnect or re-connect your Metamask wallet, then it's good to go.
Maybe it is just some visual bug? Or something problem with the browser you are using.
If you still got a problem with it, you can contact their support here: Submit a request

libert19

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How much exactly was deducted from your wallet? Was it 0.1 eth or 0.16?

nlrol

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Hello, I just started to use Metamask, and I did a small swap to see how does it work. I swapped 0.1 ETH to POLS. When I check the transaction I see the following:

Amount: 0.1 ETH
Network fee: 0.06622 ETH
Total amount: 0.16622 ETH
$98.2676

After the transaction I can’t see this high amount of fee on my balance, but if it doesn’t affect my balance then why I see these numbers?

Thank you!

Topic: Network fee for Metamask Swap (Read 261 times)