TX Cost , fees and gas - page 2. | Bitcointalksearch.org

Oilacris

hero member

Activity: 2996

Merit: 609

Quote from: swiftxi on January 01, 2022, 10:52:46 AM

Talking about everything 2022 ,BTC tx price, ERC20 and BEP20 tokens.
10-20$ for 1 transactiion fee, even if sending 1$ .

If you do tend to see the current bitcoin fees then its cheap. Mempool.space . We cant really deny that whenever theres a network clog or traffic then fees are getting high too but for erc20 its been a while on which it is really still expensive thats why im not really making out transactions based on my erc20 tokens.Its not really worth for the fee unless if you are transacting big
amounts then you wouldnt feel it after all.

For bep20 then its still cheap compared to erc20 which its still considerable if you do ask me thats why its better to be that wise on which one whether you do tend to proceed or
hold for a bit of time.

jossiel

hero member

Activity: 3150

Merit: 636

DGbet.fun - Crypto Sportsbook

Quote from: swiftxi on January 01, 2022, 10:52:46 AM

10-20$ for 1 transactiion fee, even if sending 1$ .

Yeah, this goes for erc20 transactions and that's why if you're going to transfer you better look for alternative transfers. If it's cheaper and supported in bep20 or bsc, choose it.

You have also the choice to convert into other altcoins that have their own network but don't ask that much fee. In bitcoin's case, usually, I'm paying $0.1 - $0.9 (highest) and around 10 sats/b for my transactions.

That's cheap for me.

NeuroticFish

legendary

Activity: 3668

Merit: 6382

Looking for campaign manager? Contact icopress!

Quote from: swiftxi on January 01, 2022, 10:52:46 AM

Talking about everything 2022 ,BTC tx price, ERC20 and BEP20 tokens.
10-20$ for 1 transactiion fee, even if sending 1$ .

I don't know about altcoins and tokens but:
* For Bitcoin, if you use your own wallet, right now, the fee for a normal tx (one input, 2 outputs) is less than 10 cents.
* If the fee is identical in USD for multiple coins you may be trying to withdraw from an exchange. That's not transaction fee (although exchanges my lie to you telling that), it's a withdrawal fee. It covers the transaction fee too, but in most cases it's much more expensive than the transaction fee the network needs.

If you want clearer info: start with stating your wallet (so we may know better what the problem is), don't ask here about altcoins (ask about them in altcoins sections) and we may get somewhere.

Stedsm

legendary

Activity: 3052

Merit: 1273

If you're worried about tx cost, you can choose to send with next to zero fees with TRX, XLM, XRP, etc.
While, if you'd like to go the stablecoins way, choose USDT over TRC20 and send with max $1 fee which is still very low compared to the hefty fees one pays while sending money through Western Union.

About BTC tx costs, it is based upon the mempool whether it gets clogged or not. The more free it is, the least you pay. Same is with any other Blockchain, but ERC20 tokens need much bigger fees to get your tx get through against bep-20 ones which are comparatively cheaper than ERC20. However, with time, there are more and more Blockchains being used for scalability as well as cheaper transactions.

Johnyz

full member

Activity: 2086

Merit: 193

Quote from: swiftxi on January 01, 2022, 10:52:46 AM

Talking about everything 2022 ,BTC tx price, ERC20 and BEP20 tokens.
10-20$ for 1 transactiion fee, even if sending 1$ .

BTC and ETH network always get more expensive especially if the price becomes more active and this has been the problem since then that even the ETH developer can’t solve. Fortunately, we have alternatives network to use and its good that some tokens work on different network, this allows us to transact at a cheaper price. Hopefully the fees on ERC20 can still be solve in the future, many tokens are still using this network.

ven7net

full member

Activity: 1946

Merit: 112

Quote from: swiftxi on January 01, 2022, 10:52:46 AM

Talking about everything 2022 ,BTC tx price, ERC20 and BEP20 tokens.
10-20$ for 1 transactiion fee, even if sending 1$ .

Unfortunately, this is our reality and the commissions will probably remain at this level in the future. As for BTC and ETH, if you make transfers within the network, then only on condition that you have a large amount, then it will not be a pity to pay a high commission, otherwise it is better to refrain from transfers and it is better to turn your attention to other alternative networks, for example Tron , BSC and Polygon. This is exactly what I do, as it saves money by using networks with lower commission prices.

rhomelmabini

hero member

Activity: 2030

Merit: 578

No God or Kings, only BITCOIN.

ERC20 transactions are still sucks but if you compare it to Bitcoin transaction I think Bitcoin already subsided and it continues to remain steady or it is decreasing, I think with the recent upgrade on the network. The thing is you do have a choice when it comes to what type of transaction you want to.

Charles-Tim

legendary

Activity: 1512

Merit: 4795

Leading Crypto Sports Betting & Casino Platform

Quote from: Rikafip on January 01, 2022, 11:50:07 AM

Regarding BTC, you might wanna start using https://mempool.space/ so you don't overpay transactions, which many do.

Exactly. Someone even created a thread about low bitcoin transaction fee which is correct. The mempool was around 8 sat/vbyte when it created it. I was surprised the mempool was 1 sat/vbyte when this particular thread we are was created today. Some people are making use of exchanges, not knowing there is difference between using noncustododial wallet that only charge the fee taken by miners for including respective transaction into a block and exchanges that charge extra that is much more than the usual bitcoin transaction fee.

SquirrelJulietGarden

hero member

Activity: 1442

Merit: 775

Quote from: swiftxi on January 01, 2022, 10:52:46 AM

Talking about everything 2022 ,BTC tx price, ERC20 and BEP20 tokens.
10-20$ for 1 transactiion fee, even if sending 1$ .

Transaction fee will be calculated by transaction size and fee rate if you do bitcoin transaction or gas price rate if you do token transaction.

Transaction size of Bitcoin transaction will be depended on type of addresses from your inputs, outputs, transaction types
Transaction size on ERC20 chain will be depended on complexity of smart contract. The more complex it is, the higher transaction size will be.

A common thing is fee rate or gas price rate will be depended on current network conditions, clear or congested. It means whether you are running with fee race with others or not.

In general, transaction fee is only painful matter for people with small capital and are moving transactions with small value. Fee will consume large part of total value of small transaction.

Rikafip

legendary

Activity: 1722

Merit: 5937

When it comes to erc-20 transaction costs, either suck it up or avoid sending and dealing with those those. I personally chose the latter. Regarding BTC, you might wanna start using https://mempool.space/ so you don't overpay transactions, which many do.

swiftxi

jr. member

Activity: 140

Merit: 4

Talking about everything 2022 ,BTC tx price, ERC20 and BEP20 tokens.
10-20$ for 1 transactiion fee, even if sending 1$ .

Topic: TX Cost , fees and gas - page 2. (Read 231 times)