Bitcoin Forum

ETH transaction fees:

https://i.imgur.com/Vzvp6N0.png


Seriously!

I have more than 15 tokens and a lot of them are not worth even $50. Some of them have over $500 USD value. Now, I understand why CZ once talked about ETH being rich men's network LOL

PS: I am not even bothered to send some ETH from another address to this address and move those tokens to an exchange.

Possibly so because things about rush hours usually lead to extra cost even in real life like tansportation, real estate and also data usage/ and congestions. So it is likely that low time rush can be good for transactions not only US time zone. I have witnessed a high fee during rush hours and volatility times.

Meanwhile, the instance of eth used as gas fees for erc20 tokens transfers are really hard and painful that you don't have what to do especially when you can't wait out the high fee.

actually, I just made a few transactions, and if I totaled all the fees I did it was around 0.04 eth. yeah, I did that when ethereum had a price above $ 1800. yeah, I've been waiting for the fee to go down for a long time, but it's not yet down. so, I immediately made quite an expensive transaction. fortunately, it's worth the transaction I did.

I can feel you mate, Lol, I have tokens worth $200.00, but in order to move them or at least swap, I needed $700,00 gas fees. It doesn't make sense to do that, it's supposedly that we should make money here, not the other way around.

And with that said, it the touted, ETH 2.0 will not solved this problem, BSC or other competitors might take advantage of it. And currently, we have seen projects moving from ETH to BSC because of this main issue, not good for Ethereum.

Well check this out  ;D

https://i.imgur.com/nhNOmoc.jpg

I have left that transaction alone for the time been and even if i have such balance in my wallet I am not willing to complete that transaction besides I can do away with it for now.

Jeez, $18 just to send some tokens. the other day I had to send like $25 worth of fee. ETH gas price is a nightmare right now for tokens. To be honest, I have no problem sending just ETH alone, but the gas needed for transferring tokens is just absurd. Though luckily there were days where fees are much lower than the other days.

You might want to look at this to get an idea to lessen your transaction fees https://ethereumprice.org/gas/

^ Probably that is all of our problems, I can not even move my token to exchange worth $100 because I almost got nothing when I withdraw back to my wallet. BTC and ETH are almost the same gas fee, they are both expensive for this moment, probably there is a time that the fee will go down the same as BTC and when the network is not busy. Nevertheless, I remember last month when I have a transaction failure on ETH, the thing that pissed me off because it was failed but the fees were still deducted and my token did not move to exchange. Is that the ETH will work? I thought it will come back all in your wallet once the transaction was failed.

Yeah the ETH-Fee issue is probably one of the most discussed topics in this forum during the last weeks and months. I also need to make a small transaction at the moment so i can take part in a sale that is happening on binance smart chain and for that i need BNB first which i don't have yet.
So i want to transfer arund 25 USDT to binance to buy some bnb, but the transaction fees for that are around 20$ at the moment. That really is annoying and not user friendly at all. Let's hope those updates to ETH come sooner than later.

Rising transaction costs have sparked a lively debate in the Etherium community about how the network should adapt before the completion of the introduction of ETH 2.0, which is currently expected in 2022.

The so-called Ethereum Improvement Proposal (EIP) -1559 proposes reforming the Ethereum fee market to adopt a fixed fee for each block, including a small bonus for diggers. Part of the fees will be burned according to the levels of congestion during the creation of the block.

We all hope there will be some change in Ethereum's fees.

I also have some tokens in my wallet and can't exchange them because of fees. I even got 2000USD of fees just for moving the DEGO token to my ETH wallet, but I didn't exchange it because it wasn't worth it at all. Lol

Few weeks ago we dipped into the real of TWEI gas prices, meaning a single transfer was $150+ :D
But fear not, soon this will improve with Optimistics and EIP1559

Yep, we are all in the same situation. Some projects wanted to distribute profits in Ether - crypto funds and the like - and it comes out that anyone with less than "x" tokes would just simply get nothing. Same for transfering shit-tokens for a value of less than $100 at least. It is a shame because many ethereum users are not taking advantage of the current prosperous market and that will damage the eth project itself in the long run.

When the gas costs $4 to send ETH but I try with the token to be sent I think this value does not reach $80 but what I see after that from $ 4 to $ 18 is really crazy, even though it can cover the cost in its shortcomings but for me This is too burdensome so I thought it was more quiet than having to send tokens which were not much but expensive.

I'm not even sure 2.0 will solve this problem if the network continues to cost a lot then people will think again of BSC as an alternative solution in this newest network even the trend still happens people keep using it is much better than erc20.

Ethereum gas fee had turned out to be thing for the richer crypto enthusiast while the hustles on the Louis street struggles out for the usdttrc20.

The picture below is a transaction fee a bounty manager want to send out ERC20 token to bounty hunters in a multi sender platform today, it was quite surprising to see 0.8348 ETH ~$1500 as a operation cost as well as transaction fee.

https://i.ibb.co/tJS3qTG/IMG-20210315-145939-393.jpg (https://ibb.co/nLTR7NG)

eth transactions cost a lot of people, the price is very expensive, this is very detrimental to owners with low tokens. But this is a consequence of the drastic increase in ethereum prices and low fees can only be obtained when ethereum prices fall, it seems like a fact

With the current phenomenon, I prefer to avoid networks that use ERC20, I don't know, without having to look at any transaction fees, I'm sure it will continue to be expensive. until I focused more on using the BSC network. This alternative is very helpful and I am sure 90% of us will think the same, that is, often use the BSC network. well it is for us who are only small traders. So how much GAS you want to reach this year? record breaker .. hooray the ERC20 is increasingly unfriendly ..  ;D

I feel sorry for the new tokens and coins using the ERC20 network, while they are just getting started. doesn't that seem so unfair.

just let the tokens with a small value rot in your wallet  8)
I also have a few tokens of small value, when I saw the price go up I thought I would sell them instead of rot. but when looking at the necessary Gas it seems like I have to undo my intention.

I have sent some ERC tokens. and it looks like you really need to have at least 0.01 ETH to be able to make a transaction. that was almost a month ago. this is so bad and so crazy.

https://etherscan.io/gastracker
https://i.ibb.co/nwFMwrx/image.jpg (https://ibb.co/D1Zf140)
The price of bitcoin fell and the number of transactions increased dramatically. Wait a couple of days, tokens can be sent by paying a commission of $ 20-30.
Selling tokens worth $ 50 is now unprofitable.
Sadly, before the London hard fork starts, you don't have the ability to commit cheap transactions.

The Ethereum fee for doing a transaction is too high on the Ethereum network.  This is not suitable for the poor.  Defi on Etherum is even more inappropriate because they will lose transaction fees before the network market returns them.
In the future, transaction costs on Ethereum could be even higher because there are more Dapps on that Blockchain.  I hope they will have the right solution before Ethereum is abandoned by users to other smart contract enforcement blockchains.

I have a token that I want to send to the exchange but is constrained by high fees...
I have monitored it until 'midnight US time' but it's the same, the fee is still expensive. Perhaps the best time is when Ethereum prices crash considerably 'lol'.

to be honest I also have the same problem with you, I also have some coins that I got from airdrops or bounties, and the total price of these coins is not more than 100 $, but that's a lot for me, and I'm quite happy, but when looking at the gas fee eth which makes no sense, even the gas fee is almost 50 $, which is half of my total coins, so I don't want to withdraw my coins soon

I use another alternative for gas tracking: https://www.gasnow.org/

I like Gas Now because it gives more information with the table for Average GasPrice in different hours and in different calendar days. At the bottom to the table, the scroll bar allows you to check that the gas price you want to use is good or bad in recent days, and in which hours it more regularly to be confirmed.

Wasnt ETH fees for sending much cheaper a long time ago?  Why is it like that?  Also if you have usdt in your nano ledger s, you need ETH to send USDT to coinbase?

Have you been asleep so far that you forgot to pay attention to the high costs on the ETH platform, because if you talk for the past it was clearly cheap especially at that time the price of ETH was also still very cheap, so the costs will also look cheap, different from the current price of ETH already very high after reaching the new ATH, which also makes transaction fees higher due to the instability of the number of Gweis on the ETH platform.

Nowadays, those people are very rich who transfer their tokens or coins through using Ethereum network. Since last 2 or 3 months, its getting increased rapidly and it's huge to do a single transaction where Tron network is giving us it too less. That's why, I am not even transferring any tokens or coins through ERC20 network for a long time and holding my assets till now.

are there any big transaction fee for ethereum or not

that is why this issue/problem must be fixed by the Ethereum developers knowing that there are plenty of small time crypto enthusiasts whose using their blockchain. And if this problem will not be resolved it will be a big lost for them because many will probably shift into a much convenient and a much cheaper blockchain such as DOT and BSC.

People need to refrain from small transactions at this point, as the status seen on ERC20 is still congested, so paying too high a gas fee is an arbitrary incident. I used to accept $20 transaction fee for 1 transaction on ERC20 many times, please consider, wait for the time to arrange the next updates hope the network will be much faster and cheaper. 

$18 worth of it is nothing if you try on Uniswap but you can understand how good it is to do it there though. Its the catch for having a high price token like ETH, if ETHs just about a hundred, of course the transaction fee will also be lower. They are saying the solution is coming this July so if you could wait then probably sending tokens might just be cheaper.

I imaging OP got the tokens that are worth $50 are from airdrop tokens, the burdens are from the bounty hunters who can't even pay for the transaction fees.

Yes transactions are too expensive now but i expect prices to drop soon when layer 2 becomes more widespread. Big companies will still rely on ethereum for their projects and not on the bsc.

It seems that the gas fee is very difficult to decrease, even if the waiting transaction is not busy, it will happen when and whether the reduction will be significant, it seems not at all. I agree with you friends, for those who want to make small transactions it is better to refrain from first, but until when it has to do that. the fear is that the coin that wants to be transacted is no longer valid and that often happens.
This will create many opportunities for people to look for other alternatives so they can avoid the very high gas fees. and it is not impossible that if ethereum does not change, many would want to be alternatives because of this.

Just hope the price of the tokens will moon while you holding those tokens because of this scary fees. The fee makes us being a true hodler of, sometimes shit tokens. I am sure, no matter how big is ethereum community/believers, if this happen until the end of the year, they'll leave for the cheapest one, aka bsc.

When eth have higher sending fees token I think become the reason always for bounty manager delay distribution coin and looks they wanna get benefit by sell first and wait to buy back when price down, then they will sent coin after have cheap price. I see almost bounty campaign manager now never distribution reward on time because reason with eth gas fees up.

For real, many people who becomes reluctant of sending erc tokens because of the gas fee now earns the fruit of their patience not in form of lower gas fee but a profit in hodling that's initially not their intention, I've seen many people who experiences this whether in ico groups and many more. So silly but atleast if the profit outweight the gas required it's worth it.

ETH network is for the rich, I have a lot of tokens too that I can't even sell or even move because of the ridiculous fee. I wasn't able to make it swapping my old bounty token and lost my old token because of this high gas fee. That is why using ETH network is not practical as of now, some projects are now using other platforms like DOT and BNB since they have cheaper fee.

So now 1 day after the first post of the OP the gas fees are at 5 $ for a ETH transaction and around 15$ dollars for a ERC-20 Token Transaction.
Yesterdays high fees were caused by the quick price drop of ETH which lead to a lot of movement within the ETH Network.
But of course it's kinda sad that fees of 15$ for a ERC-20 Token transaction are considered as "normal" these days.
They should be down to 0,15$ to make it accessible and easy to use for everyone.

This is also a weakness that ethereum still has, hopefully in the future it will be corrected immediately so as not to make its enthusiasts always complaining about making transactions. I think the complaint you feel is shared by many other members today.

some of your tokens are over 500 usd and what if you have over 5 tokens with an amount which are over 500 usd , so 5 times 500 that is 2500 dollars ( minimum that you can get )   wow and you dont consider yourself as rich ? well i dont know bout you but if i have that amount i think i am rich already hehe .

last time i check the recomended fees and it was over 30 usd but even if it was 50 right now  i think ill going to risk this because i can still get a nice return at the end of the trade

Ethereum fees will never go down to $0.15. At least this is impossible due to a high Ethereum price.
In the past, transferring bitcoin and altcoins were considered as cheap payment option. But not anymore. Paying $5+ for a single transaction is considered now as a new normal. The only significant option for fees to be cheaper than they are now is overall cryptocurrency price reduction. Yet again, this will never be achieved, as people only with crypto price to go up.

The Ethereum fees have major issue which is causing network congestion and transaction with even $100 dollars worth of Gas are not being confirmed and that is why developing team has fasten the work for ETH 2.0.But at this time your combined ERC-20 tokens value could not sum up your Gas? Really it's a major issue in ETH at this time which is why miners are shifting to other blockchain like Polkadot which have reduced all the issues faced in ETH network.The fees are drastically rising above the normal level and its time to shift some other reliable chains.