Paying ETH fees? - page 3. | Bitcointalksearch.org

iv4n

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Quote from: NeilLostBitCoin on October 06, 2023, 01:46:34 AM

Quote from: JamesDaniel90 on October 02, 2023, 04:21:07 AM

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Having enough Ethereum for transaction fees is recommended, especially during times of high transaction volume and increased Ethereum prices. Purchasing Ethereum during a bull run can be difficult due to the constantly increasing price, including the gas fee. Some cryptocurrencies may experience price increases followed by drops, so it's wise to buy now in preparation for such circumstances.

I am not sure how he bought some tokens on the ETH network without owning some Ethereum in the first place... anyway, if he plans to use his tokens one day, for selling or fun, he will definitely need some ETH if he wishes to move those tokens feely.

As all others advised, since OP decided to go for these tokens he should start buying Ethereum. And if we see some crazy spike with Ethereum transaction fees as before (or maybe even higher) he will need to be prepared for that.

NeilLostBitCoin

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Quote from: JamesDaniel90 on October 02, 2023, 04:21:07 AM

2024 / 2025 (hopefully) will be my first bull run and the majority of my crypto is currently on cold storage and I am wondering if I should get some ETH ready now to pay for fees when it comes to selling or if I should wait till next year when I actually do sell - is there any difference?

I do not hold Ethereum but do have a few tokens that will require me to pay fees so wondering what is best to do have it ready now or if it doesn't matter and just wait till it actually comes to selling and pay then but obviously the price of Ethereum will be a lot higher next year then it is now so thinking is it best to buy now whilst cheaper?

Having enough Ethereum for transaction fees is recommended, especially during times of high transaction volume and increased Ethereum prices. Purchasing Ethereum during a bull run can be difficult due to the constantly increasing price, including the gas fee. Some cryptocurrencies may experience price increases followed by drops, so it's wise to buy now in preparation for such circumstances.

FahriZah

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Paying ETH fees is not think who have lots of money and lots of ETH but when any smaller trader / person want to send ETH to others ETH address than he facing some problems about ETG high gas fees because example if he have $100 ETH and want to sent her friends address than showing fees like $8 - $10 It's very upset for Smaller users.

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Quote from: Silberman on October 05, 2023, 04:35:08 PM

Quote from: JamesDaniel90 on October 02, 2023, 04:21:07 AM

2024 / 2025 (hopefully) will be my first bull run and the majority of my crypto is currently on cold storage and I am wondering if I should get some ETH ready now to pay for fees when it comes to selling or if I should wait till next year when I actually do sell - is there any difference?

I do not hold Ethereum but do have a few tokens that will require me to pay fees so wondering what is best to do have it ready now or if it doesn't matter and just wait till it actually comes to selling and pay then but obviously the price of Ethereum will be a lot higher next year then it is now so thinking is it best to buy now whilst cheaper?

Do this now, the main reason for this is not really the cost but how long it could take for your transaction to be confirmed, once the bull market starts not only a bunch of coins will be released over the ethereum network, but many people will begin to move their coins as well, so if you wait until then to send some ethereum to move your coins you will lose hours and maybe even days before that ethereum arrives to your wallet, and by the time it does you could have wasted the opportunity to sell your coins for a high price.

thats actually simple to be solved just increase the gwei and you're set.
the problem is when the gwei getting too high it reached hundred of dollars even thousand of dollars just doing simple sending ERC20 token it will be problematic for most of people because sending ethereum and ERC20 token differ in gas required.
if its reaching that much amount surely it will be disastrous it reminds me of that NFT trend back then when people willing to spend thousand of dollars just to mint NFT which is silly and ridiculous.

Silberman

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Quote from: JamesDaniel90 on October 02, 2023, 04:21:07 AM

2024 / 2025 (hopefully) will be my first bull run and the majority of my crypto is currently on cold storage and I am wondering if I should get some ETH ready now to pay for fees when it comes to selling or if I should wait till next year when I actually do sell - is there any difference?

I do not hold Ethereum but do have a few tokens that will require me to pay fees so wondering what is best to do have it ready now or if it doesn't matter and just wait till it actually comes to selling and pay then but obviously the price of Ethereum will be a lot higher next year then it is now so thinking is it best to buy now whilst cheaper?

Do this now, the main reason for this is not really the cost but how long it could take for your transaction to be confirmed, once the bull market starts not only a bunch of coins will be released over the ethereum network, but many people will begin to move their coins as well, so if you wait until then to send some ethereum to move your coins you will lose hours and maybe even days before that ethereum arrives to your wallet, and by the time it does you could have wasted the opportunity to sell your coins for a high price.

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Quote from: JamesDaniel90 on October 02, 2023, 04:21:07 AM

2024 / 2025 (hopefully) will be my first bull run and the majority of my crypto is currently on cold storage and I am wondering if I should get some ETH ready now to pay for fees when it comes to selling or if I should wait till next year when I actually do sell - is there any difference?

When the crypto market has entered a bullish period or is just about to enter a bullish period, what will happen is that the price of ETH will be really high. And not only that, usually there will also be a huge increase in transaction fees for transferring ETH or ERC20 tokens. I remember in the past bullish era, ETH gas had reached hundreds of gwei and this was really heavy. Not to mention, on some exchanges, ETH transfer fees have also risen higher. That's why, usually, I would prefer to own ETH long before the bulls appear, at least I put some in my wallet. And regarding altcoins that are going to rise, it would be better if I had started preparing them for transfer and each had ETH for gas, and made the transfer before the bullish era will come.

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Quote from: forexandcryptoauditor on October 05, 2023, 09:42:49 AM

Even though some targets may be derived from technical analysis, for eth price for next year, the market conditions and world news can make it blur. In short we can not be sure for future price. I would suggest you by small amount of eth, to fulfill gas fees(considering 50% increase in gas fee next year). If next year the price of eth will fall, you can accumulate more. This will save you from condition buying eth at high price if it goes high.

The higher the price of ETH the higher the fees that you need to deal with and that is the normal scenario with ETH. You can have some transactions now but if you have to wait by next year, you need to be more ready and hope that your holdings with profit can cover such fees because for sure it will be big. Though it will not be that high, you just have to timing your transaction and you’ll be good.

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Quote from: JeffBrad12 on October 03, 2023, 05:59:44 PM

If you're so sure then of course you can have the ethereum beforehand, after all the time your token grow in price i'm pretty sure ethereum is also growing in price as well.
so its always better to have ethereum before it experiencing any bullrun because if bullrun is coming for real, the increase in value wouldn't be small, it will be huge.
however you can also just invest in ethereum altogether at this point, convert your token into ethereum, but then again it depends on your preference with your investment.
personally i would always invest in ethereum instead.

This is only related to whether an investment option in ethereum or Bitcoin is the best or in some of the top altcoins that have good development.
No problem with ETH gas Fees increasing. Increases only occur when there is a spike in transactions that occur. You just need to avoid it and not take part in transactions and wait for the gas fee to go down.

danherbias07

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Yes, what you are planning is the right thing to do. Gas fees are getting cheaper so there's a chance Ethereum will be in a bull run next year or next to that.
If you have tokens under ERC20 then always have an Ethereum ready. It's not about its bull or its bear but it's about being ready if ever you have a plan to sell those tokens when it's ready to be sold.
A price increase is unpredictable like mine when I saw GALA tokens suddenly shoot up. It cost me a lot because the transaction is under ERC20 but it was worth it because I bought those tokens at a cheaper price and I already calculated how much I would make even if I sacrificed a few dollars in Ethereum in the process.
You will never know what could happen, it's just better to be ready.

forexandcryptoauditor

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Even though some targets may be derived from technical analysis, for eth price for next year, the market conditions and world news can make it blur. In short we can not be sure for future price. I would suggest you by small amount of eth, to fulfill gas fees(considering 50% increase in gas fee next year). If next year the price of eth will fall, you can accumulate more. This will save you from condition buying eth at high price if it goes high.

Psynthax

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Quote from: zasad@ on October 05, 2023, 08:18:47 AM

I would consider L2 Ethereum solutions for trading operations, where the commission is much lower.
It’s just that when using smart contracts you need to be very careful and look at the amount of commissions, so that later you won’t be surprised why your payment of 10 dollars has a commission 3 times higher

usually L2 doesn't have problem relating the fee only when ethereum fee getting really high that l2 get affected overall its never a problem for l2.
so for smart contract execution that usually requires gas L2 is definitely the way to go right now.

Japinat

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Quote from: JamesDaniel90 on October 02, 2023, 04:21:07 AM

2024 / 2025 (hopefully) will be my first bull run and the majority of my crypto is currently on cold storage and I am wondering if I should get some ETH ready now to pay for fees when it comes to selling or if I should wait till next year when I actually do sell - is there any difference?

I do not hold Ethereum but do have a few tokens that will require me to pay fees so wondering what is best to do have it ready now or if it doesn't matter and just wait till it actually comes to selling and pay then but obviously the price of Ethereum will be a lot higher next year then it is now so thinking is it best to buy now whilst cheaper?

You'd rather anticipate the possible increase of gas fees and its price. Holding some ETH now is way better than buying them when the market is bullish as expected the price is expensive already. Just like I've experienced during the last bull market, when I'm in need of money and need to withdraw my funds, I've been spending more on the fees. I suggest getting some and besides, ETH is a good investment as well, it gives you profit during bull season.

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I would consider L2 Ethereum solutions for trading operations, where the commission is much lower.
It’s just that when using smart contracts you need to be very careful and look at the amount of commissions, so that later you won’t be surprised why your payment of 10 dollars has a commission 3 times higher

Husires

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If you have a large number of these tokens, which you expect to have a great value in the future, then buying now or in the future will not make a difference, as you will most likely not pay more than $100 Ethereum fees for all your transactions, and if your investment is limited, then buying now will save you a few dollars in the future.
Do not bet on the rise of these symbols, as the market is volatile and these tokens do not follow the pattern of cryptocurrencies with large market capacities.

Quote from: WalkerIVIV on October 04, 2023, 05:44:01 PM

after all ethereum is among the most recommended altcoin to invest.

If I were in his place, I would consider Ethereum more than those fees, at least the possibility of achieving a higher gain.

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Quote from: WalkerIVIV on October 04, 2023, 05:44:01 PM

there's nothing wrong in having ethereum for the sake of gas fee and accumulating it.
I think its even recommended to invest in ethereum so you can just also accumulate and invest it, adding it to your holding portfolio will definitely increase the chance of making profit.
after all ethereum is among the most recommended altcoin to invest.

and i bet, eth will have market value after a year or two, as compared to most of his tokens. so yeah, it is better to stash some ETH not only for gas fees but as an investment as well. remember, it is top 2 among thousands of these currencies. so you have better chance of gaining profit from this project rather than most.
the OP should look at the potential of his portfolio. can they survive in few years or not? because eth has higher chance of surviving in this market. just my 2 cents.

WalkerIVIV

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there's nothing wrong in having ethereum for the sake of gas fee and accumulating it.
I think its even recommended to invest in ethereum so you can just also accumulate and invest it, adding it to your holding portfolio will definitely increase the chance of making profit.
after all ethereum is among the most recommended altcoin to invest.

BlockaFett

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Quote from: JamesDaniel90 on October 02, 2023, 04:21:07 AM

2024 / 2025 (hopefully) will be my first bull run and the majority of my crypto is currently on cold storage and I am wondering if I should get some ETH ready now to pay for fees when it comes to selling or if I should wait till next year when I actually do sell - is there any difference?

I do not hold Ethereum but do have a few tokens that will require me to pay fees so wondering what is best to do have it ready now or if it doesn't matter and just wait till it actually comes to selling and pay then but obviously the price of Ethereum will be a lot higher next year then it is now so thinking is it best to buy now whilst cheaper?

Well, I can give you some advice.
Always leave 0.02-0.04 eth on your wallet that you are or will actively use just in case.
Also, make sure you don't overpay for the fees, you can inform your self how big are the fees in the moment, just google "what are ether fees now".
You will eventually stop overpaying fees and send transactions when they are lower.

But, let me tell you a story.
Once upon a time I went to currency exchange, I gave 300 of $ and realized that in my local exchange comission is so high, I better go somewhere else, it was like 20$.
Than I came home, bought a nice little NFT of a dog and paid 35$ fees without even thinking about it.
So, all in all, when you are in crypto, usually, you don't care, but yeah, you should.

What else... yeah, it's better to leave some eth on the wallet, just in case if you need it fast. And of course, if you think eth is cheap now, it's probably better to have some if you think that way, definitely.

sheenshane

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Just always monitor the Ethereum Gas Tracker for the gas fees.
For now, it's reasonable fees compared to last year which is the network is congested.

If you feel that your token is worth it to keep and it has the potential to grow in the market, just keep it, and any time the gas fee will cool down the same as today. Ethereum has been proven that it's a good investment, aside from the purpose of gas fee it could be also your good investment.

JeffBrad12

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If you're so sure then of course you can have the ethereum beforehand, after all the time your token grow in price i'm pretty sure ethereum is also growing in price as well.
so its always better to have ethereum before it experiencing any bullrun because if bullrun is coming for real, the increase in value wouldn't be small, it will be huge.
however you can also just invest in ethereum altogether at this point, convert your token into ethereum, but then again it depends on your preference with your investment.
personally i would always invest in ethereum instead.

Heartilly

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Quote from: JamesDaniel90 on October 02, 2023, 04:21:07 AM

2024 / 2025 (hopefully) will be my first bull run and the majority of my crypto is currently on cold storage and I am wondering if I should get some ETH ready now to pay for fees when it comes to selling or if I should wait till next year when I actually do sell - is there any difference?

I do not hold Ethereum but do have a few tokens that will require me to pay fees so wondering what is best to do have it ready now or if it doesn't matter and just wait till it actually comes to selling and pay then but obviously the price of Ethereum will be a lot higher next year then it is now so thinking is it best to buy now whilst cheaper?

Regardless of your purpose why should you buy ETH, it's worth buying that coin in the first place. You don't have to buy ETH just for the sake of covering the gas fees of your hold tokens when the time now comes to withdraw it. Besides, how come you are sure that your tokens will have a decent market price in the future?

If you think that ETH will have a higher price next year, then decide for yourself what's the best thing to do.

About when to sell your hold coins or tokens, no one can tell you the right thing to do about that. It's all about timing and you have to analyze when.

Topic: Paying ETH fees? - page 3. (Read 597 times)