Bitcoin Forum

The days of the 21 gwei are long gone but we must move forward with the growing demand of cryptos.

Now if sending tokens with a value of $10 will cost your $20 or more in fees this is very uneconomical and I can't take this anymore...I bet you can't take it as well !
So is there a way of calculating the most optimal fees without running out of gas or paying too much? I have used the metamask gas calculator and  etherscan gastracker (https://etherscan.io/gastracker) to get estimates but I think these are not cost efficient.

What is the best way to get the best gas fees when moving Eth tokens?

If your transaction is not time critical you can always wait for the gas fees to go down a little. For example at the moment they are quite ok with around 120 gwei. Of course it's still to much but we have to live with fees like that until ETH 2.0 comes around.
I always check https://www.gasnow.org/ as an indicator for the average gas prices of the last days. They are listed for every hour of the last week so you can see at which time of the day the gas fees are usually the lowest. For me in europe it's around 6- 8 am.

I would have suggested you checked eth gas tracker https://etherscan.io/gastracker for update on the current price of gas but you already stated that. Gas fee gets higher with respect to the level of congestion on the block so you just need to wait till it gets less congested so you can have reduced gas fee.

This is the actual fee required right now so using different calculator will also give you the same results so either wait or move out of the ethereum network until the congestion ends. By the way use Tron network until for example USDT based on tron is extremely cheap to send.

A lot of people are replying that it will be better to wait for a few days until the gas fee gets lower. I need to remind them that the fee has remained consistently high for more than three months now. The last time we had an average fee of <$10 for ERC-20 transfers was long back in November 2020. Also, it is not very practical to wait for too long, while trading with tokens. They are very volatile, and if you wait for too long, then they may become worthless.

The Gas fee will change oftentimes depending on the blockchain traffic. And if you wanted to fasten the confirmation of your transaction, you will have to pay it more. For me, I consider the average speed of confirmation, yes, it takes a few hours to arrive but I also save some than paying on the high speed. This is only the way to save time and fees. Because if we have to wait until July( as predicted), we are wasting a lot of time and might miss the better price.

For now, we have no choice but to pay what would the miners ask. Or you, you have to hold your tokens forever.

Does it really cost that much to send $10 worth of token, or is exaggerated?
The current fees as archived here(Wed, 17 Mar 2021 14:52:40 UTC): https://archive.fo/EVqKj is  higher than what is represented on the image, I guess it increased again. And fees was quite low in Aug 19th 2020 19:08:36 UTC:  https://archive.fo/Aq7lG

The increase in Ethereum price also contributed to the high fee. Hope they also factor this while planning for better way of calculation in the future.

If value of those ethereum based tokens are less than $30, than it's better to hodl those until next hardwork of ethereum which might solve this current gas fee issue. BTW, i personally observed that gas price actually became lower when it's midnight according to UTC+0 timezone as i made some transections in that time which cost me less than $20 per transections. So, OP might try to check the gwei price in that time to make any transections.

I believe those person commenting about "waiting" are those trader that trading small amount of token which current transaction fee is greater than the token value itself. Honestly what they are telling is the actual solution to efficiently use gas fee. Sending transaction right is not efficient for those small time traders. I believe trader should not store there tokens on Decentralized Wallet if they are trading frequently ERC20 tokens.

is there any other way? I am sure that many members of the ethereum network still have the same problem.
but I usually see transaction fees dropping slightly during the daytime of my country. although still changing but at least there is a slight decline that occurs.
the real alternative looks like we have to keep waiting until July this year until the promised updates are done.

Any wallet or tracker has different formula to calculate the best fees that will be taken from the block and if you are feeling quite difficult about how to calculate it and then why don't you just try to use mycryptop wallet? you can adjust the gas fees and it will always give you the range from the low to the recommended fees. You can choice how much fees that will be consumed by the network to confirm your tx.
As far as i know that this is really helpful for me to send any ethereum token.

isn't sending a token with the Gas setting too low a risk of failure? even it will only eliminate or reduce the ETH balance in our wallet.
I once used the lowest suggestion recommended by ETH gas Station. after I hit the submit button, the Gas fee went up quite high and made my transaction fail.
to be honest it's a waste of my ETH. and now when I want to send tokens I will choose the biggest recommendation.

I only know that can manage gas fee is Metamask. You are saying you have tried it. So I think there is no any other wallet for Android that can manage gas fee.

Even the low is above $10 which is still consider expensive to be honest compare to what it used to be before, I wonder if those days of cheap gas fees will ever come back again,
Things has become so different that $14 fee is now considered to be cheap, unimaginable.

I'm trading late in my home country. I live in Turkey, you can calculate accordingly. Unfortunately, there is nothing else to do other than that.

The Ethereum gas fee is indeed high and consistent for months, but at least we can get the gas below 100 gwei at a certain time.
But if people want to transfer their token urgently, then they can't wait for lower gas fee. Since Uniswap and other defi exchanges exist, ETH gas fee has became high.

Even when you can manage your transction fees and it doesn't mean if you can adjust it with very low fees. The fees will always determined by the network.




Yes and your tx will be failed. You should never the lower limit that already suggested by ethgasstation to send your money or token.
You should always use the medium fees to make sure you will not waste your ethereum. I think that you can use mycrypto wallet and that will give you the easiest way to send token.
The fees autimatically adjusted based on the latest block.

There is no solution other than to keep monitor of the average gas price of 10 blocks earlier and if you happen to be lucky enough you might find the right time to send the tokens since some people said the gas price fluctuates a lot and it could go down as much as 80 gwei per gas. it's really tricky though but definitely worth trying.

There are only two solutions for now, first is to wait for the transaction fees on the Ethereum platform to decrease, not the Ethereum price to decrease but the fees on the Gweinya that must go down, and another one is that you have to switch to another platform first if you don't want to be patient in waiting for this.

Everyone will have to know how to accept it, but I have a little advice about ERC20 transactions lately, and I personally always do it. The first is to determine how you transact, moving tokens on the network will incur a lot of fees. I see this very clearly, so always recalculate if that transaction makes me more profitable. I can fully accept those fees. And vice versa for the transactions that I see more loss, I will choose not to trade anymore, but this time I still hold, so I feel transaction fees are not a big problem to me.

Nah, I still think you can always set a low gas fee of about half of what they recommend on gas station or gas tracker. It won't be super fast but it will take under an hour in my experience, if not just minutes. And bear in mind that estimates currently equate to about 30% actual cost of the estimate so it's not always as high as is shown there on the boards.

There's no real solution for now. You can either wait for it to lower for a bit (there are times when gwei go 90 as viable or even 80) or don't use ETH at all. I'd prefer the latter because it just doesn't make sense for a fee to be $20 (and that's actually the price after transferring) when you're only going to transfer less than $100.

I really don't recommend ETH right now.

I wouldn't mind the amount of transaction fee for the token to be sent successfully at least with a reasonable gas fee and I also consider the value of the token to be sent at the exchange which if it a reasonable amount and profitable after deducting the transaction fees.
It is not advisable to send a  token whose vakue is less than the transaction fee I will rather continue to hodl possibly it value might increase and gas fee reduce in the nearest future.

If your tokens only listed on DEX, Let's say Forkdelta or Uniswap then the best way to do is waiting until the gas price was lower. Basically it's happen on UTC Midnight Time, It will much lower (60-90 Gwei) Beside that you can use Layer-2 Exchange like 1 inch or maybe switching to other Network like Matic, BSC. Just hope EIP-1599 will fix this and also ETH 2.0 too.

Those days of 21 Gwie transaction fee are gone and the unsustainable bidding system for executing a transaction without a threshold amount is only favoring the miner's pockets If we compare in 2017 Bullish Market trend today's Transaction fees are too high to bear with ordinary users like me so it's better to find other alternatives like BSC and Tron to save more from those abusive TX fees.

I have a little guidance about ERC20 exchanges recently, and I for one generally do it,I keep thinking about whether those long stretches of modest gas expenses will at any point return again,I can't sell any coin on the off chance that I trust that day will come,The first is to decide how you execute, moving tokens on the organization will cause a great deal of fees.And remember that gauges at present liken to about 30% real expense of the gauge so it's not generally as high as is appeared there on the sheets.

Eth 2.0 is the key to this. All we need is to wait til april probably for this thing to be resolved. Or even more so go to other platform where you can save up like Tron.

That is exactly the message that I hope OP can understand.
The point is that many people still accept the same loss while trading.
Perhaps that will help them be able to trade better in this space.

Etherum network fee is too high in anywhere. No effective way to less fee but most of the time i made transaction from Myetherwallet there is much less fee in the midnight(in my location) but forum time 10:00PM-11:00 PM, In this time Gas fee reduces 80-90 gwei in average transaction. You can try on this time to get a bit less fee.

To move ETH tokens requiring little to no effort there is by all accounts no chance to get now other than hanging tight for Gwei's less expensive charges from now, since whatever we do, there will in any case be no modest path right now, particularly on the Ethereum stage.

You can't do anything to lower the price of gas except checking it throughout the day. Right now its $6.67 (~184.00 Gwei), it changes throughout the day and in my region its a peak at midnight while it goes down in the morning. But every day it could be different, so you have to check it in your time zone, it is the only way as I know.

High fees affect almost every user who transfers small amounts of cryptocurrency funds.  Some assets do not even make sense to alarm, because the total value of this asset may not be much higher than the price per transaction.
Today, if you carry out transactions at night, and this is confirmed by many users, that is, the opportunity to conduct a transaction is much cheaper and today made a transfer for 80 Gwei.

Most of the investors are waiting for the fees to get cheaper for a very long time and the waiting gets irritating for many and that is forcing some of the developers to switch the platform and if the fees does not gets lower before the major correction many will be agitated as they will be loosing a lot of profit and that will affect them in the long run.

Gas fees is insane and we cannot do anything at the moment we have to deal with until the Ethereum update will roll out. I use to interact with NFT smart contracts twice or thrice a month before but now in order save expenses I only do it once a month except for very emergency and important transactions.