Bitcoin Forum

I noticed a coin I want to invest in on uniswap and transferred some ETH to Metamask to buy it
However when I did so i noticed I was being change $100 in gas fees in ETH
I tried to manually lower this but the transaction never went through just said pending for two days
I have since cancelled it
The coin has since doubled in value

is there any way to fix this lower gas fees or get the coins in a different manner
Spending so much fees on trades is not workable for me or other smaller traders/investors
Any ideas of what I can do

Just to look for the gas price when it's going down https://ethgasstation.info/ , I think the best gas fee and the lowest will be around 10$ 

Did you also pay fees upon cancelling your pending transaction?

I have tried trading the Aave yesterday, it asked for more than $20 for the transaction that is why I did wait for a while but still end up having this high fee. A price to pay for privacy but sometimes one could say its too much. There really should be an alternative for all these. ETH is a pain.

You cannot do anything unless the lowest gwei that you need to pay reaches the level you paid at, else it will never confirm because big organizations are paying much higher to get their transactions confirmed due to highly stuck network, this is keeping the fees high and competition stiff. I am scared myself seeing such high fees that I need to pay to move a token that is not even worth the fee.  :-\

From what I know, you can't reduce the fees. It's the price that everyone has to pay for the transactions bottleneck that keeps plaguing ethereum network. If you can't cope with the fees on uniswap, you can use alternative AMM on other blockchains like Binance's smart chain, etc. At least on those other networks, you don't need to spend as high as $50 even if the transaction you want to do costs only $10.

Uniswap is releasing v3 of their platform soon and it promises to have better fees than the current one. The release is expected in Q1 this year.

There are so many factors at play here, the gas cost for quicker confirmation and the gas limit of the token.
Is it Okay if you named the coin you were trying to trade, and I check its gas limit?

Certain tokens have ridiculous gas limits leading to very transaction fee estimations on wallets like meta mask.

You really have to deal with the fees and regularly check the gas price.

May we know the name of the token?

Maybe there are other ways around that might be more convenient for you instead of dealing with the current gas price by default on UniSwap.

Thanks I will have a look at that binance thing.
The fees are outrageous and just not worth it when trying to move small units around
I ran into the same issue trying to transfer 1000USDT to BTC on my ledger was charged $15 in ETH to do so

Yes I was charged like $1 to cancel the transaction

It's better if you move to the kucoin. Im a binance user but i have moved my funds to the kucoin as the trading fees are 3x less compared with binance.
The ethereum fees on kucoin were around 0.003 eth for each withdrawal or transaction.

https://www.kucoin.com/news/en-withdrawal-fee-for-some-tokens-reduced
The tx fees already adjusted with the current condition.

I love kucoin.

Yes this is the reason why certain transactions are insanely high. A straight ETH to ETH transactions would probably cause anyone $10 on a high volume day but dealing with tokens and smart contracts is a different thing. You can try to reduced the gas fee for the token but I wouldn't advise doing it on gas limit as the likelihood of the transaction failing is higher.

There is no workaround on this when your coins are based on Ethereum blockchain the gas fee of eth blockchain is insanely expensive right now better to wait when the gas price gets lower. but 40 gwie is the lowest I saw this week. Some exchange is developing something to lessen the gas fees like kingswap exchange they are developing layer 2 to help their users to pay cheaper gas while they are swapping

$ 10 is still a big deal for some newbies at the moment, so they will also have a little trouble with this, and to find information about gas costs, there are two very accurate places, the first is on the website you say it is, and the one that is second on https://etherscan.io/gastracker

It's been spreading like every new fork of uniswap or new Defi+NFT project is going to add layer two solution, but i don't see any progress from any of those projects. TBH, i think it's just an hype of layer two solution. But i'll be very happy if any new defi projects can solve this asap. 

This is such a huge problem, I can't imagine, people saw in 2017 -2018 that the ethernet network was not strong, but this was ignored and now we are paying even more. Commissions go up to $ 100, we all fell into a trap called Ethereum. A revolution in the world of cryptocurrencies, for which ordinary users pay. Is this what we wanted?

10$ is too much for a lot of Ethereum users, for me, Uniswap is almost useless, no solution is provided yet, people are getting tired of it, we don't know what the future have for us.

uniswap maybe useless for some but i feel that the uniswap hype is still active.  that simply means that there are still bigtime users that keeps on using uniswap and they ignore fees because the profit that they get is much higher but for small users its not the end of the world because there are still exchange that are not fee hungry than on uniswap .

 dont wait for uniswap to act for the solution because that will be 50/50 as long as uniswap still have a good number of costumers because they can earn nicely without the help of small traders

Uniswap is totally pegged with ethereum network and the only party that can fix this problem should be the ethereum core developers but to implement the improvement protocol on the running blockchain is not easy as people said. There must be an agreement between the community with the ethereum core developers through the approval and this can be done when the nodes were installing the new client that was supporting the new EIP.

That's literally high in fees. I won't also pay that amount just for the fees but knowing that the token you want to buy doubled, the feeling is regretful.
But there is nothing much we can do for that. It's just a matter of checking how much is the network's fee and if you think that you can pay that much, do it. But never in my entire Ethereum transactions, I was charged with that amount.

They had 3 years to figure out how to improve the network, don't they see that the commissions are gigantic. Do they even know about this problem and do they use their system?

I agree with you on this. Such high gas charges are not acceptable. There has been no improvement in this for years, we have to pay over $10 for each transactions. When we give lower gas, it becomes fail.
We really getting tired of this, they must do something. We love ethereum, but if it continues this way, the number of supporters will decrease :)

Ofcourse they are seeing the high fee. But they are the highest network being utilized and used. Its not that they can't find a way to fix this. Of course they have solution and it will be done as time progress. They are using proof of Pow and still there are miners who are benefiting from this. If you can't take the fee then used Binance smart chain much lower fee. Surely eth will come up with a perfect gauge for this in the future.

If you do just simply focus on Bitcoin or ETH then you would  really be fucked up by the fees specially if you are really making out those micro transactions but we arent only having these coins
but there are lots of alternatives.

This is why i do refrain on dealing with Uniswap and other erc20 transactions or making up some conversions or swaps due to ridiculous price.Im not really on a hurry because
fees will really be not justifable if you do proceed on.

Wait for the network to subside before making any further step but if you are rich and dont bother how big these fees are then its up to you.

It horrified me to see and hear that eth costs up to $100 just to transfer coins or tokens to the exchange. Even though I transferred
tokens for a fee $20 a few weeks ago. That’s the last time.
I better not trade, let alone the high cost for transferring the tokens is not worth it with the token we have.

Or else look for other platforms like airswap, as they are boasting minimal fees.
Haven't tried them but worth to check (https://www.airswap.io/) as uniswap is having unreasonable fees.
If Uni will not address this problem, traders will go to other dex platforms that are offering better services.
And once the defi hype is over, I don't know if Uni will continue to enjoy what they have right now.

People have no choice other than agreed with the fees that already applied on the ethereum blockchain. Do you know why? The majority of the assets were building on ethereum blockchain.
Uniswap is also the best dex to trade their ERC asset.
I have been charged $80 just for a single transaction on uniswap to swap my assets to the stable coin.
That's annoying for many users. I hope that miner will change their mind to agree with EIP1599

There are only two options we can choose right now when using the eth network accept the high fees or dont use it for now the growing defi ecosystem creating different decentralized dapps mostly from finance or yield-farming dapps are the main reason why eth fees are so high there are other chains that has very cheap fees like binance smart chain or tron chain but due to popularity of eth and dex exchanges like Uniswap most devs prefer to use eth network.   

It's still happening till this time. The gas price keeps increasing even higher along with the bullish trend that is happening with ethereum.
The users are getting a lot of disadvantage caused by the bullish trend of ethereum. The miners were getting a lot from the fees.
There must be the solution. I don't even think people wanna use this platform forever.