What If I Reduce USDT Tx Fees? | Bitcointalksearch.org

pealr12

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Quote from: Michael63 on November 26, 2021, 10:26:00 AM

Will my coins still deliver? The USDT fees on USDT based on Ethereum blockchain looks too high. Should I reduce it? How low do I go? Presently, it's about $46.

It may take days before confirmation if you reduce gas fees from normal fees or it may not even confirm, it is painful but this is what we have to deal with if we must transfer eth base tokens, the whole high gas tx fees is very frustrating, I have some of my transactions stuck on my wallet because the gas fees is too much, I tried to swap from metamask but that is the worst, I just left those tokens for the time being until eth gas fees is rectified.

smartaction

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Quote from: Michael63 on November 26, 2021, 10:26:00 AM

Will my coins still deliver? The USDT fees on USDT based on Ethereum blockchain looks too high. Should I reduce it? How low do I go? Presently, it's about $46.

If your USDT have on your personal wallet on Ethereum based blockchain then you must have to pay ETH gas fee for transfer your USDT. But now eth transcation fee is too high and here your usdt amount is $46. So in my opinion it would not be right to transfer this usdt to your current state. The gas fee it will cost to transfer may be more than the amount of your usdt Cheesy

You wait patiently for Ethereum gas fee to be reduced. Just like a fisherman throws a fishing rod and patiently waits for the fish Grin

makishart

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As long as you are still putting the recommended fees and your transaction will always be delivered. if you didn't wanna pay a lot of money for the transaction fees and you should wait until the price of gas will be decreasing again. You should not send your money when the traffic in ethereum blockchain was crowded and you must have paid lots of money to send your USDT.
It's better waiting for the correct time to send your transaction. It's not about reducing the gas fees but it's about waiting for the gas price in the network to decrease. Reducing the gas fees was not the solution if the gas price is still high. Keep watching the network and send your money once the gas price was low. It may take some times but that's the best choice for now.

Azar138

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Quote from: Michael63 on November 26, 2021, 10:26:00 AM

Will my coins still deliver? The USDT fees on USDT based on Ethereum blockchain looks too high. Should I reduce it? How low do I go? Presently, it's about $46.

If you pay not enough, your transaction will be pending and will not be included in the block for a long period of time so you will have to accelerate your transaction (add more gas).
Maybe it will even fail and, as a result, you will just lose money that you have used for transaction fees, so don't set gas fees lower than it is recommended on Etherscan.

RussianEnglishTranslation

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Quote from: Michael63 on November 26, 2021, 10:26:00 AM

Will my coins still deliver? The USDT fees on USDT based on Ethereum blockchain looks too high. Should I reduce it? How low do I go? Presently, it's about $46.

You are going to lose all of your money in gas fees farming on Ethereum. Either wait for ETH 2.0 to withdraw/claim rewards/send, or bridge your tokens to NEAR protocol and farm on Ref Finance or Trisolaris on NEAR's sidechain Aurora.

JeffBrad12

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Quote from: Michael63 on November 26, 2021, 10:26:00 AM

Will my coins still deliver?

No ETA about this, once you have been putting low gas fees and your transaction gets stuck in the blockchain and it will never be confirmed until network gas price will have touched the gas price of your transaction.

Quote from: Michael63 on November 26, 2021, 10:26:00 AM

The USDT fees on USDT based on Ethereum blockchain looks too high. Should I reduce it? How low do I go? Presently, it's about $46.

You should reduce it until you will have reached average transaction fees. If you're reducing it even lower than the average gas price and this could make your transaction gets stuck in the blockchain. You can see this as your reference https://etherscan.io/gastracker

That will tell you how much you must have paid the network. It's about $22 right now.

Yogee

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Quote from: Michael63 on November 26, 2021, 10:26:00 AM

...Presently, it's about $46.

Sending ERC-20 tokens is around $30 right now.

I don't know if this tool works but you could still try this https://cryptocurrencyalerting.com/eth-gas-tracker.html
It monitor gas fees and it's supposed to give you a notification when it hits the price you set. You should probably choose sending over Telegram or Dicsord.

Jaered

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If you reduce the ethereum transaction fee, then get ready for a real bumpy ride. For starters, the low gas fee can make the speed of the transaction be so low that the aim would be defeated. You probably would get the token the next day till the block is gone

passwordnow

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Quote from: Michael63 on November 26, 2021, 10:26:00 AM

Will my coins still deliver? The USDT fees on USDT based on Ethereum blockchain looks too high. Should I reduce it? How low do I go? Presently, it's about $46.

If you want to reduce it, you should make sure that you're willing to wait until it confirms. But usually, if it's lower than the recommended fee on the blockchain.
You're just waiting for nothing and it will usually be dropped by the network. You should've converted your ERC20 USDT into another chain like TRC20 which is totally cheaper than that one.

Tipstar

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Quote from: Michael63 on November 26, 2021, 10:26:00 AM

Will my coins still deliver? The USDT fees on USDT based on Ethereum blockchain looks too high. Should I reduce it? How low do I go? Presently, it's about $46.

To some extent, you can lower the fees in Ethereum blockchain and get the coins at a slower pace spending less amount of transaction fees but if they are much lower (in gwei) which isn't getting a hit by miners, your transaction would be pending for hours and rejected. The best way to spend less is to check the current gas fees and use a fee that's just above the minimum required for going through. Use a gas tracker like https://etherscan.io/gastracker and go for a fee Low.

OrangeII

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Well, that's something Ethereum coin users have always complained about, and I've experienced the same thing myself.
the gas can indeed be reduced, based on the speed of the transaction, the slower it is, the lower the fee you pay (although for me it is still expensive).
other than the recommended fee, I don't recommend lowering it, because it has the potential to make your transaction void. I once tried to do that on myetherwallet, and my transaction was canceled and the fee was reduced. you should pay as recommended to avoid disappointment.

Tytanowy Janusz

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Quote from: Michael63 on November 26, 2021, 10:26:00 AM

Will my coins still deliver? The USDT fees on USDT based on Ethereum blockchain looks too high. Should I reduce it? How low do I go? Presently, it's about $46.

Avoid using ETH for small amounts. There is USDT wrapped on trx and BSC where 1tx cost around 1$.

But if you are stuck with this on ETH chain I would not send TX with too low gas. I've tested it ... my TX was locked for few months... just to fail right after. As previous poster said. Better wait if you can't afford to pay this 46$. Wait and check gas trackers. But I have no good news for you. It does not look likely to decrease. Maybe after current bubble burst, ETH decent dump and few years in bear market to cool things down and make crypto "boring" again.

noorman0

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Depends on how much gwei you set, just check some ETH gas recommendation sites like etherscan. If you set it too low, there's a good chance it will take days to fail. Instead of setting a lower gas fee, you should wait until it goes down because your transaction will be mined until the amount of gwei you set becomes a priority.

israt1@

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Be clear about what you want to say.
But what you mean is that you may want to say something about ETH's fees. If so, you may not know that their fees are currently too high.

Michael63

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Will my coins still deliver? The USDT fees on USDT based on Ethereum blockchain looks too high. Should I reduce it? How low do I go? Presently, it's about $46.

Topic: What If I Reduce USDT Tx Fees? (Read 85 times)