The loss you acquired are mostly due to the transaction fees than the actual commission the service provider is charging. There are no cheap transaction fees in Ethereum. Even if you set the fees on lower side, the coin could get stuck forever.
The best way to handle Ethereum transaction are to deal in large amount or not deal at all. I haven't made Ethereum transaction but in my bitcoin transaction experience as well, I never transact an amount that is less than $100. Transacting below that means you are just dusting your wallet. And as Ethereum fees at the moment similar to Bitcoin, $100 should be ideal minimum for Ethereum as well.
Topic: Where is The Best Place to Buy Ethereum? With Cheap Tx Fee. (Read 142 times)
Ethereum network transaction fees is always high so i think your transaction fees is also normal, ETH network is highly congested so there are no option to buy ethereum at low price, but you can use other network if you need it very urgently, i did not use eth chain for it's high fees, now BNB,TRON or Solana can be good options to use for cheap transaction fees.
It is an ongoing issue with the Ethereum network wherein the transaction fee is high. They developers have tried reducing the transaction fee but the demand of ETH increases the transaction fee. I doubt you would find any CEX or a DEX where you will pay less fee as it is the problem of the network. That is the reason the l 2 solution was created to avoid the congestion and high transaction fee.
There is a prospect of a massive Ethereum, bull run, coupled with the anticipation of getting their ETF approval, so Ethereum is a "hot cake" as it is now, and that is why more investors are buying it, so it's no wonder that their network is congested. I guess that the high fees will still linger for a longer time, until investors gets there fill, and this is still a good time to invest in Ethereum, but this current high fees will discourage some investors to go ahead. I hope that their developers will find a speedy solution to their high gas fees, because it's the reason why people are preferring Solana, network.
So to avoid all that, it is better for the non custodial wallet. Though people are saying that we can use another networks to make the transaction but I h abe tried but no way.
You may not have to buy Ethereum directly, why not buy a coin that has a lower transaction fee like LTC and then convert it to Ethereum on an exchange, same way you can exchange any of your coins with Ethereum or you first change them to USDT and from there you exchange to to Ethereum as well, Ethereum network has a higher transaction fee right from time except you do it this way as suggested.
Is there any platform I can buy Ethereum that I won't pay for high transaction fee like moonpay and Binance, OKX and bitget exchanges?
I think you are unlikely to be able to find low transaction fees at this time on any exchange, because fees on ETH are global. you can find gas fee here .
Indeed, the current problem with Ethereum is about transaction fees that are very large. Small transactions will only reduce the investment so much to pay the fees. Many people choose BNB and Solana for small investments so they don't spend a lot on transaction fees. Even though if you buy it directly from the exchange, it might save some costs. Even though it is not recommended, it is still better than having to bear larger fees. Because that's the case, leave your ETH assets as they are. If you want to invest again, first see how much gas fee so that you find the best moment to reduce costs. Or investing in BNB and Solana isn't too bad for trying. My advice, if your transaction is small, just buy on a good exchange and try trading. It will give you new taste.
It is an ongoing issue with the Ethereum network wherein the transaction fee is high. They developers have tried reducing the transaction fee but the demand of ETH increases the transaction fee. I doubt you would find any CEX or a DEX where you will pay less fee as it is the problem of the network. That is the reason the l 2 solution was created to avoid the congestion and high transaction fee.
There is a prospect of a massive Ethereum, bull run, coupled with the anticipation of getting their ETF approval, so Ethereum is a "hot cake" as it is now, and that is why more investors are buying it, so it's no wonder that their network is congested. I guess that the high fees will still linger for a longer time, until investors gets there fill, and this is still a good time to invest in Ethereum, but this current high fees will discourage some investors to go ahead. I hope that their developers will find a speedy solution to their high gas fees, because it's the reason why people are preferring Solana, network.
It is an ongoing issue with the Ethereum network wherein the transaction fee is high. They developers have tried reducing the transaction fee but the demand of ETH increases the transaction fee. I doubt you would find any CEX or a DEX where you will pay less fee as it is the problem of the network. That is the reason the l 2 solution was created to avoid the congestion and high transaction fee.
Depending on the use case, the person needs ETH on ERC20, but through some CEX we can still accept withdrawal fees and withdrawal mins for spending around $30, but it would be useless to keep $30 on the wallet.
Some L2 solutions are working quite well, but users don't always seek them out. This problem is not new, and we all understand the most specific way is to accept for the purpose of use, I remember around the beginning of last week we also saw a large ERC fee, but now everything has seemed much softer.
Some L2 solutions are working quite well, but users don't always seek them out. This problem is not new, and we all understand the most specific way is to accept for the purpose of use, I remember around the beginning of last week we also saw a large ERC fee, but now everything has seemed much softer.
I just bought Ethereum from two place and I lost a big amount of money through transaction fees. At first I downloaded Myetherwallet app from Google Play Store and made my registration and set up the wallet and in the wallet home page there is receive and buy ether and I clicked on the buy ether then it linked me to moonpay and I did the registration there as well with normal KYC for centralized exchanges and the amount in dollar display and I selected $50.
to test the results investment and and I paid the amount in my fiat which was NGN43,558.00 and as I made the payment they started the process and in the final stage took about 2hrs because bad network. And finally when the coins arrived it was $20.52 which is about NGN 34964.62
And that means the transaction fee is $7+ which in fiat NGN8,593.38. That is nonsense.
Then again I was thinking that Centralized Exchanges would be better than Ethereum wallet app. So I placed order of $18.50 Ethereum to add it to the other ones and the transaction was very fast. In the exchange I clicked withdraw and was sending to the Myetherwallet address and within some second I received a message that that it has been sent successful and suddenly I still see the coins in the exchange again and the amount has reduced to $14. And I see all these as nonsense altcoins. I have not encountered this in bitcoin. I just lost plenty funds today in the process of investing on altcoin. The transaction fee is too much high and I wanted to invest more but with this transaction fee. I gave up the investment on them.
Is there any platform I can buy Ethereum that I won't pay for high transaction fee like moonpay and Binance, OKX and bitget exchanges?
to test the results investment and and I paid the amount in my fiat which was NGN43,558.00 and as I made the payment they started the process and in the final stage took about 2hrs because bad network. And finally when the coins arrived it was $20.52 which is about NGN 34964.62
And that means the transaction fee is $7+ which in fiat NGN8,593.38. That is nonsense.
Then again I was thinking that Centralized Exchanges would be better than Ethereum wallet app. So I placed order of $18.50 Ethereum to add it to the other ones and the transaction was very fast. In the exchange I clicked withdraw and was sending to the Myetherwallet address and within some second I received a message that that it has been sent successful and suddenly I still see the coins in the exchange again and the amount has reduced to $14. And I see all these as nonsense altcoins. I have not encountered this in bitcoin. I just lost plenty funds today in the process of investing on altcoin. The transaction fee is too much high and I wanted to invest more but with this transaction fee. I gave up the investment on them.
Is there any platform I can buy Ethereum that I won't pay for high transaction fee like moonpay and Binance, OKX and bitget exchanges?
You know what really bothers me about using the Ethereum network? Those super high fees they charge. It's just crazy sometimes! The fee can be way higher than what you're actually trying to send. And when you're looking for a site or exchange with lower fees? Well, good luck with that! I haven't found one yet. It seems like they're all facing the same issue. Those swap or exchange sites can't do anything about Ethereum's gas fee—it's out of their control. So, we're pretty much stuck with it.
Yes that what I am planning to to because even when I buy the Ethereum from the exchange the gas fee was cheaper than the Myetherwallet MEW transaction fee and the exchange vendor paid more fast than the moonpay app vendors.
If I am not mistaken, GateIo is the one that offers the cheapest fees for Ethereum for withdrawing on the Main Network right now, where what I found were only Fees (0%+0.00127 ETH), which is equivalent to $4.49 [At the current price of ETH], but the futile condition is that the minimum withdrawal is 0.01127 ETH, which is equivalent to $39.84. As mentioned by a previous member here, most centralized platforms offer $10 for fees and higher. The Ethereum Main network is among the most expensive networks, but Layer 2 networks have already addressed this issue regarding excessive fees. But one of my concern was I sent the one I bought from the exchange to the Myetherwallet MEW address but the coins bounced back to the exchange wallet but the transaction fee was cutting and didn't return as the main coins. Only web3 layer2 in Ethereum is the best one now to use.
Until your concern goes away, if you find a warning stating that the network is now crowded when withdrawing from one of the CEXs, do not perform any transactions and wait until the network returns to normal. You can do that at another time; hurry is unnecessary.I also advise you to read the terms of use when using any CEX. It is recommended that you do your own research and never use their platform as a wallet.
If your main intention on buying ETH is just for investment purposes then just purchased it on different Blockchain that is pegged on Ethereum ERC20. This way you can invest on Ethereum price and at the same time you can hold it on a non custodial wallet.
I’m doing this on BSC whenever I want to invest on Ethereum price while I don’t plan to use it on its own blockchain since the fee in there is terribly high. This is the only way to invest on ETH with cheap TX price. Pegged tokens these days already have a huge liquidity to backed the token pegged.
I’m doing this on BSC whenever I want to invest on Ethereum price while I don’t plan to use it on its own blockchain since the fee in there is terribly high. This is the only way to invest on ETH with cheap TX price. Pegged tokens these days already have a huge liquidity to backed the token pegged.
that's one way to do it. although this is the real ETH. its BEP20. you still will need to spend a high fee in trading it to real ETH.
you are aware of the high transaction fee in withdrawing or sending out and if spending $7 for a transaction fee is going to be something that you would see as a big loss, just don't take your ETH out of the exchange. just leave it there and sell when the price is right. just pick a popular exchange such as binance.
with such fees, we know BTC is a better choice.
and after finding a price that you feel is appropriate, then move the asset to bitcoin and then save it in your personal wallet.
Some of my ETH in the exchange wallet is already more than 5 years old. but remembering that it wasn't a personal wallet, I slowly moved it to bitcoin and then moved to my personal wallet.
Centralized exchanges are the best and cheapest place to buy ETH right now. The transaction fees can be anywhere between 11$ and 15$. Gas fees seem pretty high due to the rally in ETH price and network congestion. If you wanted to swap ETH for any dex it would cost more than that. If you are thinking about holding ETH for a long term, then ethereum layer 2 blockchain can be the best solution for any regular DeFi application user. They are cheaper than solana ecosystem gas price as well.
Yes that what I am planning to to because even when I buy the Ethereum from the exchange the gas fee was cheaper than the Myetherwallet MEW transaction fee and the exchange vendor paid more fast than the moonpay app vendors. There was a time I was even thinking they have scammed me because it has passed the normal hours they recommended for me. But later the coins were deposited to the wallet. But one of my concern was I sent the one I bought from the exchange to the Myetherwallet MEW address but the coins bounced back to the exchange wallet but the transaction fee was cutting and didn't return as the main coins. Only web3 layer2 in Ethereum is the best one now to use.
Centralized exchanges are the best and cheapest place to buy ETH right now. The transaction fees can be anywhere between 11$ and 15$. Gas fees seem pretty high due to the rally in ETH price and network congestion. If you wanted to swap ETH for any dex it would cost more than that. If you are thinking about holding ETH for a long term, then ethereum layer 2 blockchain can be the best solution for any regular DeFi application user. They are cheaper than solana ecosystem gas price as well.
I think it's not the right time for the transfer of the funds. ETH is basically going through the congestion period and during this period the coin basically have high transaction fees so whenever you will transfer fund during this period it will be of very high transaction fees and you will you know loose some assets right there. so this is the problem that ETH basically faces during larger investments the congestion period arise and you know the projects like sol has done a break through to solve this problem they have launched layer 2 projects .
if you want to have a low transaction fees then you can pursue your transactions through layer 2 project that are being launched by SOL, Arbitrum, Optimism and other Layer 2 networks.
if you want to have a low transaction fees then you can pursue your transactions through layer 2 project that are being launched by SOL, Arbitrum, Optimism and other Layer 2 networks.
If your main intention on buying ETH is just for investment purposes then just purchased it on different Blockchain that is pegged on Ethereum ERC20. This way you can invest on Ethereum price and at the same time you can hold it on a non custodial wallet.
I’m doing this on BSC whenever I want to invest on Ethereum price while I don’t plan to use it on its own blockchain since the fee in there is terribly high. This is the only way to invest on ETH with cheap TX price. Pegged tokens these days already have a huge liquidity to backed the token pegged.
I’m doing this on BSC whenever I want to invest on Ethereum price while I don’t plan to use it on its own blockchain since the fee in there is terribly high. This is the only way to invest on ETH with cheap TX price. Pegged tokens these days already have a huge liquidity to backed the token pegged.
that's one way to do it. although this is the real ETH. its BEP20. you still will need to spend a high fee in trading it to real ETH.
you are aware of the high transaction fee in withdrawing or sending out and if spending $7 for a transaction fee is going to be something that you would see as a big loss, just don't take your ETH out of the exchange. just leave it there and sell when the price is right. just pick a popular exchange such as binance.
with such fees, we know BTC is a better choice.
To be honest.
There is no way, you are avoiding a fee transaction using a third service provider. You need to buy directly from a person (If you want to get the cheapest fee) that mean P2P, however you will hard to find a person who want to cashout into real money.
Any third service place is always charge you with some huge/good fee, most common things because they're running the business.
There is no way, you are avoiding a fee transaction using a third service provider. You need to buy directly from a person (If you want to get the cheapest fee) that mean P2P, however you will hard to find a person who want to cashout into real money.
Any third service place is always charge you with some huge/good fee, most common things because they're running the business.
If your main intention on buying ETH is just for investment purposes then just purchased it on different Blockchain that is pegged on Ethereum ERC20. This way you can invest on Ethereum price and at the same time you can hold it on a non custodial wallet.
I’m doing this on BSC whenever I want to invest on Ethereum price while I don’t plan to use it on its own blockchain since the fee in there is terribly high. This is the only way to invest on ETH with cheap TX price. Pegged tokens these days already have a huge liquidity to backed the token pegged.
I’m doing this on BSC whenever I want to invest on Ethereum price while I don’t plan to use it on its own blockchain since the fee in there is terribly high. This is the only way to invest on ETH with cheap TX price. Pegged tokens these days already have a huge liquidity to backed the token pegged.
Is there any platform I can buy Ethereum that I won't pay for high transaction fee like moonpay and Binance, OKX and bitget exchanges?
No there is no way you can buy Ethereum at the moment and avoid the high transaction fee except you want to take the risk of leaving it on the exchange. But if you wish to transfer it to your personal wallet you will need to pay high fees which comes as a result of the congestion on the Ethereum network. The fee at $7 is even lower when compared to last week that it was above $20. If it is not much of a high fund I will advise you leave it off for the moment.
You can make use of other layer 2 blockchains like Solana, Arbitrium and polygon for other payment transactions.
But which of the network do you think is good to buy now because Solana network is also congested.
Currently, you cannot at this moment because a lot of people are transacting as well. It would be really hard to buy ETH unless you are on another chain. Still you have to pay for the gas and a lot of people are already on it to improve. In this case, maybe you can try SOL first then you can achieve very cheap fees.
Is there any platform I can buy Ethereum that I won't pay for high transaction fee like moonpay and Binance, OKX and bitget exchanges?
No there is no way you can buy Ethereum at the moment and avoid the high transaction fee except you want to take the risk of leaving it on the exchange. But if you wish to transfer it to your personal wallet you will need to pay high fees which comes as a result of the congestion on the Ethereum network. The fee at $7 is even lower when compared to last week that it was above $20. If it is not much of a high fund I will advise you leave it off for the moment.
You can make use of other layer 2 blockchains like Solana, Arbitrium and polygon for other payment transactions.
Jump to: