Bitcoin Forum

Lately ETH fees have been skyrocketing and I have been paying 50 cents for a normal eth transaction and over $1 for contract functions. Used to be a few pennies at most to get your transaction confirmed quickly.

It is not that simple to correctly pay fees in ethereum. You need to set Gas Price and Gas Limit. You probably set something wrong, higher than needed.

I made a small guide here:
 Paying low fees in Ethereum - Gas Limit, Gas Price and Gwei (https://bitcointalk.org/index.php?topic=3285767.0)

That is common sense, of course everyone understands that. I wanted discussion on how clogged the ethereum network is getting and it it will continually rise with all the Defi projects getting more popular and subreddits using eth tokens. On chain scaling will hopefully arrive soon.

That's why miners have decided to increase the gas limit from 10 million to 12.5 million. ETH network now able to handle ~44 tx per second while it was 35. Well, this has cons too. With increase of block size, the network is getting more centralize, subjects to DoS attacks.

That was also my experience in Ethereum transaction nowadays, I'm using and Ethereum wallet that suggesting the right gas fees that suitable for my transaction needs. A faster transaction requires higher gas fees and slower transactions require lower gas fees. but it takes time to confirm, thats why in my experience I rather choose much higher gas fees as long as my transaction will confirm in early time as possible. but still depends on the individuals who made those transactions if they want faster transactions or the slower one.

If for Ethereum transactions with a set gas limit it is possible that Ethereum will be sent even though the number of Confirmation Blocks is greater.
But for token transactions, if we do set gas, an error will occur. I even lost my token as a result of the set gas limit.

The fees are high because miners probably overwhelm the network to collect higher fees for transactions. I do not understand why developers do not come with any fix that will solve this problem.  ::)

I was reading somewhere it is because of high transactions although if we see it positively we should be happy that the use of eth network is increasing rapidly but i completely agree with you that if the transaction fee becomes high it will not remain the preferred way of payment transfer so they should definitely look out for solutions.

Do not worry it is a temporary thing, i have still sent for cheap most of the times. Yes there is increase in fee but if you try to transact at late night fee is normal so i think it is the peak time when the network become overloaded only then the fee becomes high otherwise it is as good as before.

ETH has become very expensive and I do not want to use it. What happens with the network is just awful. I did not see any future of this coin. Now there are a lot of faster and not so expensive coins

wax

The increase in gas fee is a fact and i saw some people are blaiming it on new matrix or mlm based ponzi schemes where rapid transactions happen on each new investment but as far as i know such programs, though popular right now but will die out with time so network will be back to normal soon.

The Ethereum fees have risen considerably these past few months and the network has been strongly affected by crowded transactions leading to congestion all the time plus the fees have been increased by miners arbitrarily leading to lots of complains. Thankfully, the Ethereum version 2.0 is actually coming to put a stop to some of these challenges and reenact the importance of the Ethereum blockchain. We only is comes sooner than expected.

for the time being it can climb ethereum fees and bitcoin is almost balanced but I am sure that in the future ethereum fee will return as before
because this ever situation happened and proven ethereum fee cheap again

Where are you seeing it? it's still less than 20 cents https://ethgasstation.info/

You can even try to send a small tx with the fees less than 20 cents to make sure if what you were saying was not true at all. In fact that site has told us about an accurate information regarding the best tx fees

Eth gas might be seen to be increasing, but there is no way it can be as much as that of bitcoin. Also, the fee of bitcoin at some points increased, which means that the networks of these coins during those periods become congested and the more the congestion, the higher the TX fee that the network would charge and that ost times is to enable more users to send their transactions at the same time.

This is all incorrect here.
You need to set gas price for every transaction, token or eth.
If you do not set gas limit  the wallet will automatically set for you enough gas

If you do not set gas price, wallet will also set for you (you will probably over pay fees)

But if you set gas limit lower than necessary,  your transaction will not pass.  Depending on your balance, you will be refunded. You probably had 0 zero eth. Hut you should have been refunded and you shouldn't have lost tokens.

But it is always good to know what you are doing when setting gas price and limit.

This is not true, the fees on ethereum chain is still stable at this moment. It looks like he was missing something about this. The solution will be fully implemented in the next update and you must watch what will be implemented after serenity update.

I like ETH, but this needs a fix. Some stablecoins and other tokens are moving to other blockchains now (USDT / Tether can be transferred on Bitcoin Cash for less than 1 cent)

So here we go again? The last time that we heard about newbies complaining about ETH gas fees is during cryptokitties rise 2018 if I'm not mistaken. So to the OP, you really need to learn how to set up gas fees similar to bitcoin. There could be updates coming, but everyone should understand the economics of crypto mining, sometimes the gas fees will really shoot off because there are a lot of transactions happening. But most of the time it will flatten out and be back to normal.

I don't see it going to happen because of many years that I do ETH transfer, BTC is still having high fees than ETH. What probably happens to you is that you forgot to change the Gwei and might set it at high already that gives you a surprise. Try to review your previous transactions and you could find what is the difference. That is why it is very important to double-check every time before we hit the confirm button.
Anyway, could be an eye-opening for everyone especially for the newbie. Fees will also vary in the current market position, some exchanges will ask high fees if the saw the price is also high but for now, I don't see a reason that you'll say that ETH fees are already skyrocketed, it probably there is an error and that possibly is you.

Convert it to another altcoin so that you won't have troubles paying that seem to be high fees with Ethereum. That normally comes when the Ethereum's blockchain is being full of transactions.
We have many choice to convert if you think that the transfer fee for Ethereum isn't justifiable but for me, I don't have a problem if the fee is just about $0.5. But to your case, that's really high if you're transacting only with $1.

Strange with Ethereum now, slower their blockchain. what is thought to be vital for Ethereum 2.0 later? Usually, every time I withdraw, I use Ethereum, but because the fees that are spent are often swollen to almost $ 5, I end up using the cheaper option. I think this also impacts the increasing number of token projects handled by the erc20 blockchain and the like that makes transaction overload and ultimately more expensive.

 I might need that guide. Thanks for that link.
 Anyway, OP. You are not the only one who are suffering from that. I sent ethereum with high fees last time so what I did lately is to convert my eth to xrp. With fast transactions and lower fees, converting it into xrp is what I think most convenient.

I also feel that Ethereum transaction fees are indeed high. But also sometimes the costs have decreased, I usually use Myetherwallet and take the economy for transaction costs. If it's estimated around 0.1$ - 0.3$, in my opinion it still makes sense.

true, all markets charge different fees, and in my opinion the fees they charge are still relatively small compared to the shipping costs of bitcoin, and for transactions using MEW it is also quite reasonable around 0.000861 ETH = $ 0.20

it's not yet touching the rate that has already mentioned by creator and that means if the ethereum chain is not getting clogged. MEW used auto estimation based on ethgasstation. It will be following what will be suggested by ethgasstation about the best fees.

It depends on your Gas settings and how much you put on that.and Ethereum will never become like bitcoin in terms of fees because when congestion happens that is not coming to be the same.
You feel 0.1$-0.3$ that is too far from the transaction fees of Bitcoin specially when there are lots of transactions happening.

though if you thing that ETH is getting high in gas?then try using ripple with lowest fee ever.

yeah, I feel it too. but you can make arrangements so that the fee you pay is not so much. however, the risk of that is a fairly long transaction. I once did that. other than that, right now I'm raising a little gas and paying a little more to experience a very fast transaction. Well, at the very least, I like it.

I also experienced it at the beginning of this month even till now but not like then. What I noticed is that the fee is always normal or low at midnight during my own time zone. so I do wait till then for transaction that could wait but for urgent ones I usually do it anyways.

Because there are people who are not used to seeing Ethereum transaction fees so very high.

So I don't know why the OP is complaining, this is not long term though, as someone has said, you can convert your ETH to other coins. Or you can simply wait for the network to normalized again.

I'm not sure when did you see that ETH fee is skyrocketing, as far as I know, it is still very cheap as compare to bitcoin and any other alt coins and I would say that it is very competitive. It is also a sign that many users are going ETH, meaning it could push the price, so take it and not complain. Same with bitcoin the price will evolved overtime and will change so you also have to anticipated that.

Maybe this will help always check this site for the ethereum fees EthGasStation (https://ethgasstation.info/).
I hope that it would help you lessen the fee that you would use in the future.

Yes it still makes sense if the gas fee is under $ 1. But for some people they try to withdraw with other coins, which have lower fees, like Doge. If you use ETH, the higher fee you use, then will faster your transaction will be processed.

So true! The fee of ETH is raising sometimes but not skyrocketing. Furthermore, ETH fee is indeed effective. The more you pay, the faster the transaction is. I can't think of any coins that have low transaction fees and as effective as ETH. The fact is that ETH fee is raising but not too much, it's a good sign showing that people are interested in ETH than before!!

Yes it is true that at present ETH's fees have gone up a lot.At present it has to pay a fee of over 50 cents to make a transaction.  It’s becoming too much for us right now. So I think it would be very good for us if the transaction fee of ETH is reduced.

I consider my tx fee also low on Myetherwallet, have been looking through the post to see where the trx fee demands up to $5. Except for some decentralized exchanges I dont have problem with transaction fee. Though it rose for both bitcoin and ethereum after halving but it has reduced in recent week. I can still understand the increase in bitcoin tx fee after halving but I dont understand the increase in tx fee of ethereum after the halving

Usually checking the gasstation website and pick the fee from there and I would never follow a fee that's chosen by an exchange or wallet automatically because I had a bitter experience when the fee is unnoticably more expensive or too low. But, it certainly depends on the person if they don't mind to spend a little more for faster transaciton it's fine.

yeah fees is too high now.ETH is one of my favourite coin but this problem needs to fix.Last few months this fees just too much.I heard ETH Version 2 will solve this problem but none knows when it will happen.Team should consider TRX transaction fee just way less than 1 cent.If they could able to do it will be good for all.

It's same on my watch too, I use trust wallet and if I try to adjust the gas fee manually I always get a prompt that the transaction might get stucked for days so I have no choice but to send with the exact required fee, I hope this get fixed fast

Contract fees are getting higher each day but still, they are not close to BTC fees I think. But transacting NFTs on the other hand using enjin wallet is getting a bit expensive these days yesterday I had to pay around $10 in fees too sell some collectibles lol.

This has nothing to do with the wallet and actually these kind of wallet save you from waiting forever, because if you are using completely manual wallet you may end up setting the gas fee as normally without checking the required fee at the current moment so its always better to use the recommended fee for faster transaction.

Actually Ethereum fees totally depends on Gas price and gas limit. You must set up the gas price and gas limit to minimize the fee.You set may be higher gas limit thats why you have paid more fees during transactions.

Yes, this is a common thing in Ethereum network when the number of transactions spiked. Best advise for everyone in this time is you should wait till the network cleared up the backlog of transactions or have to pay a high fee.

If there are ways to save fees with bitcoin transactions, there are ways to save fees with Ethereum transactions. It depends on how you make your transactions.

Check and select good Gas price (in Gwei) for your needs (https://bitcointalk.org/index.php?topic=5261480.0)

   You are right OcTradism, we can choose how much we will pay transaction. With good wallets you can choose your own
fee. But if you choose to small you will wait longer for transaction to be made. Two weeks ago I wanted to transfer some
Ethereums and I chose the lowest possible fee, I waited more than a day to be confirmed.

is there a reason behind this high transaction fee lately? I don't understand why this is happening, eth use to be my favourite coin to make withdrawal because of it's low transaction fee but now things have changed,
The other day I tried to make a withdrawal, i found myself looking for the cheapest fees because eth and btc fees where high.

Bitcoin really has a high transaction fees that it is now in a $1 dollar due to its high supply and demand. While Ethereum is has now a high gas fee, that is why a lot of people are now complaining on the sudden increase of gas fee of ETH. It is the reason why I use other coins in making transaction because they are much cheaper fee and faster transaction.

calm down friend, I'm sure the fee for ethereum not will continue like this there may be other influences that make ethereum fees can rise high before it ever happened and what happened the ethreum fee returned to normal, I think this only a matter of time

We can always reduce gas limit and gwei, but before doing that, one needs to check ethgasstation. And also reducing fees lead to slow transactions as we all know. Ethereum network nowadays is always clogged, the rise of DEFI has surged activities on ETH blockchain and I believe ETH 2.0 will help a great. The standard fees are just too high.

The transaction price depends on the network load. if the network has a high load and you put a low transaction price, then it can just freeze in the blockchain and you just will not send your money

This is due to the amount of transactions ethereum network is processing per seconds. With time gas fee will increase because daily use is increasing on daily basis. More project are launching under ethereum, and with this, more transactions likely to come in on a daily basis.

But if you reduce the gas charge, your transaction will be delayed and sometimes it will be stuck for days. A few weeks ago I was in a similar situation when the gas charge was set too low

It is a good indicator of Ethereum adoption. The recent hype around new version of Ethereum caused that more and more people are buying ETH coins to secure their position in a new Ethereum version. Those who bought now 32 Ethers will be able to stake ETH coins and earn interest from it.  ;)

Yes, in the past few weeks ethereum fee is crazy, gas price is very high. i don't know what happen right now and this is terrible. I hope this gas price issue will slowly going down.

This spike in ETH fees is good news for miner's but not for users because users get to pay exorbitantly more for a regular transaction. This defeats one of the value proposition of blockchain - to charge minimal transaction costs compared to traditional institutions. I think the proposed dynamic pricing model called EIP 1559 would be implemented soon to regulate this incessant gas wars.

I have always noticed that the fee accompanying the transactions on ethereum platform always increase whenever the market if going uptrend. If the few are really high now, I wonder what will happen if there is another bull run. Bith Bitcoin and Ethereum might be competing in gas fee then.

yeah, I has heard of this kind of thing. however, fees from ethereum are not as expensive as bitcoin, only now if you want a fast transaction, you need to pay more. Yeah, but I think that many people are willing to pay quite a lot for fast and priority transactions.

 so it is really true that eth fees are increasing   .  saw somebody complaining last time of his eth transaction saying he payed a good amount of fee but i didnt believed it because eth fees before were only tiny when i used it but i dont know now since im not using eth anymore   . now i think i can belive on him after seeing this thread here  .   it could be because the eth value increased too  ?  i didnt check its value either  but last time i saw it it was above 200 usd something   .  well time to use smaller alts now to save money from fees   .

Well, it is not fixed. The transactions fee change all the time depend on how congested the network is. Bitcoin transaction fee is most time higher and you can't actually compare that with ethereum. Sometime it is better to optimize your spending and I've discover there are little difference in speed for various gas fee

This is why Ethereum and Bitcoin only good for holding as an investment. If you want a reliable low fee and fast transaction, LTC would be your best bet.

Ethereum transaction fees are very expensive lately, I don't know why, even though Etherreum 2.0 is a hot conversation, hopefully in the future transaction fees can be even cheaper and free

It's better to check it gradually throuh use the ethgasstation. I think that you will get the best answer from there. The gas has already gone to the normal value again and you should not feel worried about that dude. everything is fine right now.

If we analyze the topic completely this is the path of discussion that Vitalik has been commenting for a while. The high rates that can vary the network hash and congestion are two barriers that prevent a high valuation of Ethereum. It's worth remembering that this is just a technical issue.

This technical problem can not be solved for 2 years. I don’t think that the team will be able to change anything on their blockchain. I don't  believe in the project and do not hold any ETH in my portfolio

Might as well add dogecoin in your list, it has way more cheaper fee and faster block times compare to litecoin. litecoin is just basically copycat of bitcoin.

Hey, so I'm not alone you mentioned that... I was shocked when saw that the fee is higher now. Actually, I didn't have enough ETH for paying a fee for my last transfer... So I needed to get some from my friend...

The largest number of transactions are currently taking place in ethereum. Stablecoins also added load to the network. Ethereum is not yet ready for this and therefore gas prices are increasing. Most likely, we should already expect improvements to Ethereum 2.0, which should be implemented in November. Then the situation will change for the better. Buterin predicts a significant increase in the scalability of this coin.

When they're going uptrend, your average transaction will take a longer time than before cause traders rush their bag to exchange to trade. Really hope we will have a coin with reliable transaction no matter day or night and the situation of the market.

I told people then when some of these platforms were promoting their platform saying that it is cheaper than Bitcoin, I said most of these network would want to be in Bitcoin shoes now, the issue is that as the price of token increases the transaction fee also increases, the DEFI plus all these ponzi projects on Ethereum has driven up the transaction fee and something must be done about it

Yes, unfortunately, we can see that transfer fees have also increased significantly due to problems in Ethereum network, accumulated transactions and other reasons. Although these wages have increased at a high rate, the fact that there is no such increase in mining revenues is another remarkable factor. Although I do not have the full technical knowledge in this regard, I hope that the Ethereum network will return to normal as soon as possible and be effective in providing fast money transfer with very low fees.

I've been experiencing a huge increase in transaction fees lately, i think there is congestion causing the network to clog. It might be due to the #DEFI wave that brought about many projects launching their products on eth network.... I heard that the blocksize also got increased by almost 10times and with ethereum 2.0 around the corner to launch, i believe we'll see an improvement real soon

Well it depends on the gas limit you set but probably you are right it was high value of eth now when using the gas I'm just going to transfer a gas and it make 2$-3$ per transaction I don't know why gas is that huge for ethereum maybe many people are using it so the transaction became slow and you need to put the gas higher.

Looks like we are back in the bull run, the last time I remember ETH had that kind of big transaction fee was during the last bull run when the network was congested due to transactions coming from ICO and ETH tokens, but now, I don't know if there's a high demand on ETH that makes the fee to be higher. AFAIR, the last time I transacted I can still set a lower amount of fee and it confirms fast, of course faster than bitcoin and even with bitcoin transaction versus ETH (same feee), ETH confirms faster.

That fee might just drop again and will go back to normal, just like when bitcoin pumped during the hype of the halving, the fee had significantly increased but now, it's not that expensive to transact, fee are normally below $1 and it still confirm faster.

Do you think that is one of the reasons? ??? ::)
In future the ETH coin fee is going to be so much high like last time and this time ETH coin touch the high value almost 10,000$ and  hope that we make good profit on that time through trading.

A lot of people believe that Ethereum 2.0 will solve this though. I don't know much about this but it seems that the new update that the people is waiting for will solve most of the scalability and security problems. To be honest, we really can't look forward to it when it comes to fees as this update will still happen in the far future, probably next year. We can only hope that the gas fees lower.

You should adjust the gwei to be matched with the gas limit. Gas limit is a limitation for how much the fees will be taken by the network. How much your fees will be determined by how much gwei you have putted it in your transaction.

Thanks for this guidelines you gave Sir, this is very helpful to know what is the meaning of Gwei, wei per transaction for Ethereum.
I had been here in crypto space for a couple of years but only this time I found out how much is the equivalent of 1 gwei or wei if
we convert it into BitcoinBTC.

It's a big problem, if you make a contract transaction without fee limitation, the transaction fee may cost up to $50 for per transaction. But if you set up limit gas, the transaction will take up to hours to complete.

Honestly, transaction fees on ethereum block chain have become somehow unbearable nowadays.  Transaction that I used to do with just $0.01 before can hardly go even with $0.3.  And it is not that the ETH price is on increase like that in order to justify for it. Hope it will be rectified promptly.

I had to pay $5 ++ for smart contract functions for some stupid thing just to get my ETH unlocked out of a stupid platform I never want to use again. I actually even waited a couple of weeks but the price of gas got actually worse, not better. Ethereum really needs to fix this because Bitcoin fees were a problem for a short time and you knew it does not last but ETH seems to be getting worse and worse.

I hope the fee will decrease at the nearest time because it's pretty high

Yeah the decentraliced finance trend increases ETH fees. Most defi products are built on Ethereum this means a lot of traffic for the network. I myself have a transaction which is stuck since 1 month haha

You can make adjustments to the GAS according to the fee you want, but that will affect your transactions. I also experienced an increase in fees on transactions but that is not so much in my opinion and not so much a problem because you can adjust the GAS value according to what you want. ethereum raised their size block so I think the miners also increased their gas limit. The benefits also affect us with increasing block sizes.

It will certainly decrease but when the traffic become lower. It's always the nature of blockchain to get its price increased when the traffic is high since people always racing to get their transaction confirmed thus giving higher fee. Actually, using usual normal fee could still make your transaction get confirmed but just longer.

no, not go up. yesterday I sent eth from wallet 1 to another wallet the fee is still low. You might set the gas price too high so the fee is high and that also impacts the speed of the transaction. just try to set it to the default gas price. waiting a little longer is not a problem, after all, also not until 1 hour for gas prices in general.

The issue with Ethereum high fee should be fix and better once the next 2.0 upgrade get launched, with proof of staking things will be better I believe, if you are facing glass fee issue I suggest you find wallets like coinomi or trust wallet to adjust fee manually, also don't reduce too low, this can make your transaction hang in the blockchain for long

yeah, that it a fact, but as well, average BTC transfer is cca. $1k, and for Ethereum network it is not viable for most games and applications to have this high transaction fee, it takes more to transfer something, than the value of the transfered item, this has to be improved, or number of users on Ethereum will go down, which is not necessarily a bad thing

the price changes every day. if yesterday I sent money and the price of the commission was 0.3 $, then tomorrow the price for the commission may already be 1.3 $. such volatility is not normal. I hope that they can fix it, one day

It's true that Ethereum fees are very expensive now, I made Ethereum withdrawals from exchanges that got fees above $ 1
or around 15,000 satoshi. Maybe increasing from block size, miners decided to increase the gas limit. Therefore I prefer other
altcoins, which cost transactions are cheaper when withdrawing from exchanges. I recommend Litecoin or Ripple.
 

some time ago I posted a discussion about gas prices here https://bitcointalk.org/index.php?topic=5261480.0.
I am a lover of ethereum but if the developer cannot overcome this problem soon there will probably be many people who will feel bored and will use another altcoin

I think that any wallet has already put the automation to calculate the fees based on the latest data that can be gotten from the ethgasstation. That doesn't make sense if you were saying like that but again what you meant about contract tx and did you meant to create a new contract?

I was also surprised by what happened to transaction costs from Ethereum. maybe you are right, it can make traders less attractive. Moreover, the ethereum market price growth is also not too high.

and I thought I'm the only one who noticed the hick in price of transaction fee.. I've now moved most of my savings in cryptocurrency into bitcoincash.. it has far lower fees compared to ethereum

and something seriously needs to be done to reduce the fees on the ethereum blockchain else most projects may start looking for an alternative blockchain to build their platform

I feel like people are making a big deal out of the fee's. I get that we are using crypto because it is cheaper to send and receive money thanks to crypto, plus in many nations half a dollar is still a lot of money and in those nations regular bank transactions are not even that much.

However bitcoin and ethereum were never created so that you can send money cheaply and fastly, it was created because it was a better alternative to regular currency, not to payment processors. Bitcoin is not a rival to paypal, it is a rival to money itself as the whole concept. So, if you see etheruem fee's increasing (which is still quite low if you ask me) remind yourself that it doesn't matter because ethereum doesn't have a goal like being cheap to send, it has a goal to be better than dollar.

Guess it's one of the reason why fees are becoming higher...

Core developers of ethereum have been planning to implement the sharding on the serenity update and I think you will not see higher fees like what is happening right now. It will come next year and people must be patience.

I was surprised to see that the minimum gas price is over 65 Gwei now. I know that it's possible to transact with low gas prices but that particular transaction can be failed. Even if successful, it may take a long time. If you have to pay 1$ fee for 5$ transaction it's really bad.

Alarming, the increasing price in fees are really alarming. Price changes almost if not everyday. The volatility is on the high side.We are forced to think what happens with ETH 2.0?