Bitcoin Forum

I'm an average person with some tech knowledge, and after facing the challenges of inflation, I ventured into the world of cryptocurrency this past year. I'd like to raise what I see as a significant contradiction. I believe it's quite disconnected for many individuals in this community to advocate for self-custody and crypto adoption while simultaneously expecting the average person to tolerate exorbitant gas fees.

When I mention "high gas fees," I'm referring to fees that surpass the current charges imposed by Visa and Mastercard. After all, decentralized finance (DeFi) aims to compete in this space. Is it reasonable to anticipate that individuals investing thousands of dollars should be content with paying tens of dollars in gas fees for each transaction, especially during what we consider "busy" periods?

What do you think would be a solution to this not everyone would be able to keep up with this especially in everyday transactions?

You are saying that you get to crypto because of the high inflation rate that mosts countries are facing nowadays right?

Your complaint is against the Fees on alt-chains like ethereum etc...

Actually bitcoin fees are also kind of high because of some congested network.

If you ask me, I see the fees as some kind of tax, if you see the current percentage that every government is charging you per each spent, you will see the current network fees on all the chains as the cheaper option regardless if currently the fee is high or not.

For example for a single transaction of 100 USD the government tax is like 10 to 20 USD (This depend of the country that you are), that is near 10 to 20 %

On the other hand for a 377000 satoshi transaction  (0.00377 btc) the fee right now is like 3400 sat, less than 1% of the original amount.

I don’t know much about the calculator in another chains, but I see bitcoin fees cheapest than government taxes.

When you mentioned "high gas fees," I assume you are referring to the altcoins network, right? In that case, I think you need to move this topic to Altcoins discussions.

Anyway, this is what I found regarding current transaction fees:

https://talkimg.com/images/2023/09/21/6W53g.jpeg

That does not seem too bad. What are the current fees for credit card transactions?

For everyday transactions, the user need to learn to use lightning network if he want to send Bitcoin, the fee is really small compared to the on chain network. Someone can use altcoins in centralized/small network, but the security is low and I don't recommend to use it.

You must use non custodial wallet too, don't use custodial wallet because the fee is fixed and they sometime charge higher than the reality.

When the transaction amount is 3-5 thousand dollars, then paying 50 dollars for a commission will not be large, because my profit is at least 300-500 dollars. It's expensive, but no one except you manages your coins and tokens.
In L2 solutions the commission is much lower.

I have the same problem.  I am doing the transactions on Saturday or Sunday morning. So you can pay less amount of gas fees. Otherwise, I have to pay a higher gas fee for every transaction. Also, I am trying to use the layer 2 networks and try to avoid Ethereum(Layer 1) transactions.

Solutions:
1. Select the time for the lowest gas fees
2. Use Layer 2 networks

IDK why, each time I see this type of post. I'm to worried @OP will answer by shilling his product ;D

High gas fee during the busy time is always a problem for most user because they face a few things like (Network issue, time, and cost-transaction). I believe each product from various platform are still trying to fix these even we all know for the current alt-coin can handle so many TX/daily-time comparing old-time.

Do you know, there has some technology while the coin actually send without any fee. Example like (NANO), If some of new coin can combine these tech to other (I'm sure, in the future we can have zero-fee transaction smoothly).

The high gas fee is indeed a problem in crypto transactions, especially on the Ethereum network. It has been several years since I last experienced this scenario, back when I was actively playing and making transactions every week or sometimes every few days. I had no choice but to continue with the transactions and pay the high gas fee just to get my tasks done. This doesn't only happen with gas fees; it's the same with Bitcoin transactions. So what I do is monitor the network first to see if it's congested or not. If I'm not in a hurry, I wait for the gas fee or transaction fees to go down. Sometimes, I also use an estimator.

The high gas fee is indeed a barrier for many individuals, especially those who are just starting in the world of cryptocurrency. It's challenging if this situation continues every day.

Don't deal with crypto's having a transaction difficulty or experiencing a network congestion since you can expect that fees will soar high. But if you really want to send your alts to anywhere you want for whatever reason much better to trade your BTC or ETH to those coins which have less fees like XRP and BNB since these coins are famous in terms of dealing low fees also fast to transfer.

Just don't get stress about what you see since in crypto there's a solution on certain issue you encounter.

Some time ago the transaction fees of other platforms including Bitcoin were very high but nowadays the transaction fees have come to a normal level. Now trading in bitcoin does not require more than one dollar transaction fee, while trading on ethereum platform requires about one dollar transaction fee and the transaction fee in other ALT coins that are available has become somewhat normal. At the current level of transaction fees, everyone can easily transact any coin. When we have to pay a transaction fee of $20 to transfer a coin or token, we can call that situation high transaction fee. Since the transaction fee is now one dollar or below one dollar, we can call this transaction fee normal.

I do feel it, but there is no solution for that. You can only use L1 or L2 blockchains, which have better scalability compared with the mainstream network like ethereum. I do agree with you if the mechanism of defi was not effective, especially on ethereum blockchain which any transcation will be involving very high fees. The only solution to push those developers to work on update in increasing the scalability from the blockchain. If you are willing to get cheap fees for your transaction and i can suggest you to stick with L2 blockchain.

https://i.postimg.cc/8kWmN8hp/nw90770.png
https://l2fees.info/

You can use some like polygon, arbitrum or optimism. Using L1 non scalable blockchain like ethereum will make you only waste your money to pay the transaction fees.

Well, unless these banks know how delicate it is to have a low gas fee I think what they're targeting or their market are those traditional whales who may venture into crypto. You really haven't been into the peak of this "busy periods" I guess so that tens of dollars of gas fees might go 10x in the peak periods.

Solutions are being made like off-chain transactions by Bitcoin (Lightning Network), and lot of Layer-2 scaling solutions to make these transactions cheaper than it was ever before. I prefer to use the latter considering there are many ways to do it.

Certainly random. Its actually depend on the network usage and the particular L1 or L2 which you will be used. If you picked ethereum, ecpect its higher than others since tis the most used network and has a lot of dapps and users. Considering the fees might be crucial since its a normal routine now on defi projects. Normally if theres a certain of hype happening on such network, the fees tend to increase due to usage and thats normal well cant give an accurate day or time for that.

Not sure what you mean, which fees of which cryptocurrency are too high? There are multiples of such crypto. There is also a wide variety of crypto with fees so low you could spend the entire day sending your money back and forth between wallets and you would only be mere cents poorer for it. If I had to guess which crypto you mean then I would probably guess that you are talking about Ethereum, right? Despite its desperate switch to POS, the fees are much higher compared to other crypto with smart contract defi functionality. Just switch to BSC (Binance Smart Chain) if you want a popular, high volume, low fee defi experience. 

We also felt how the cost of ethereum rose drastically yesterday and even reached tens of dollars. But will it continue to rise, of course not. It only has an impact when the ethereum network is too congested with many transactions. Normally the gass fee is only around $5 and if we switch to another chain like BSC that you suggest, it will be even cheaper, especially if we are on the Layer 2 network, it's only under $1, around $0.1xx. Of course it will be very cheap and no longer consider expensive fuel costs.

I don't understand well with OP point about high fees in cryptocurrency, for sending coins trough ERC or BSC network seems lower fees today and ethereum network only need under $2 for payment fees.  BSC have lower fees transaction and under $1 have been enough for several time making transaction. I think difference with fee or taxes have to pay when deposit fund in local exchange currency, ever I have to pay more than 1% of amount deposit cut off for taxes in local exchange. But I make another way without directly deposit trough local exchange and buy stable coins in trusted seller how to get lower fees than taxes cut off trough local exchange.

OP seems need to clarify which one side of high fees when sending coins or deposit taxes rule happening in his country.

Choose the network that has the cheaper fee. I am sure that most of the known altcoins today are also supported in various networks which you're allowed to choose if you're going to send them to anybody or to an exchange.

They are not just high in fees but also they're slow and takes time compared to crypto transfers. But if you don't pay the necessary fee, it may take a lot of time too.

Despite the fees being the same for everyone the amount you are sending will determine if the fee is cheap or not, if you just want to send a few dollars worth of ETH then without a doubt the fees are very high, but if you are sending hundreds or even thousands of dollars this is not the case anymore, now if your case is the former then you need to look for ways to save money on the fees, like sending your coins when the congestion is low or consolidate your inputs.

thats really a problem right now, but you could also anticipate such thing and avoid it by simply using L2 if you happen to use ethereum, or some wrapped version of coin then I guess you could avoid the high gas fee but if your assets are already in ethereum then you pretty much are forced to pay for the gas fee thats really high.
like many have said, its quite different fee scheme if compared to mastercard or visa honestly, you really pay the same fee for whatever amount of money you're sending.
meanwhile its gonna be different with the other competition, therefore i think the comparation isn't fair, but i could understand that majority that utilises blockchain are just moving around asset which means these fee problem are indeed urgent problem needs to be solved immediately, right now the proposed change towards ethereum to contain the gas fee through various method are on their way.

More specific ?

There are many different options for you to minimize fees during the transaction process, and the stories in some of the issues you mentioned made me laugh that if you don't want to, don't try to force yourself to follow it.

As in the case of Ethereum during its congestion period, many people may have had to pay tens or even hundreds of dollars in fees per transaction, but what they got in return was worth those actions. And that is also part of the reason why many projects appear to create competition in the cryptocurrency space, instead of assuming it must make us satisfied, we should understand satisfaction and grateful what exists in this market to learn how to adapt to change.

Excessive transaction fees are a big problem for everyone. Those who are small investors can't trade any coins with extra transaction fees even if they want to. Those who are small investors mostly invest in bitcoins and in case of investing bitcoins they trade bitcoins in different places which makes them pay extra transaction fee from bitcoins. Bitcoin and other ALT coins also had to be transacted with high transaction fees. Transaction fees may depend a lot on Bitcoin transaction fees. If the transaction fee of Bitcoin increases, the effect may be on the transaction of other ALT coins in the market. If transaction fees were normal then maybe no one would have any objection to transact or no one would have any complaints about extra transaction fees.

This only shows the cost for a simple transfer. When you are interacting with smart contracts the cost is significantly higher. Using an altcoin like Ethereum requires a lot of interacting with smart contracts. You don't just do one transfer and are done for a while like with Bitcoin. A typical ETH user might be trading multiple tokens across several DEXs, bridging tokens to different layers, buying NFTs and then listing them for a higher price. All of this activity consumes an enormous amount of gas.

I'm assuming you're referring to Ethereum gas fees. No, I think that's the main value proposition of these Ethereum L2s and other chains. Even long-time crypto users like me still think twice every time I'm about to make an Ethereum transaction. A simple swap costs at least $5 in ETH and that's ridiculous. That's why I always prefer to use DeFi in L2/other chain.

If there is another bull run, I think Ethereum will be even more crowded and other activities like DeFi and NFT will have to happen somewhere else. I guess this is the bull case for L2s and chains like Solana.

This is have the issues for years already, if I'm remember it correctly even around 2018-2019, the Ethereum gas fees are so high. First it was due to "CryptoKitties" (remember this?)

And this is the start of the whole network congestion on Ethereum and they try to sell the Ethereum 2.0 to solved this from PoW->PoS but still the problems still exists and I don't think that it can be resolved any time soon. There were times as well that the gas fees is very expensive as compare to Bitcoin sat/vB mempool transactions.

First, you need to specify the particular blockchain you are having problem of high fees. There are many blockchains of altcoins but over all of them that has the most high fees is the Ethereum chain, it has been like that since the launch of the project and it will remain like that because changing the fees is like rewriting every code of the Ethereum chain unless they do hard fork. There exist the hard fork already as Ethereum classic but developers don't used it the way they used Etheruem, probably because of the security reason.

I'm not sure what you are trying to in Defi but there are alternative to this, we more than 50 other layer 1 projects that are also Defi, you can literally do everything you want to on them the same way you do in Ethererum chain without comprising anything, they are fast, less fee for transaction and comfirm very fast as compare to Ethereum. There is no other way than the alternatives because it is even better now, by the time bull run start, the Ethereum fee will be a challange of an average crypto user.

Similarly, you can also use layer 2 of Ethereums that are availale but there security challenges that comes with it but you can used layer 2 and enjoy the same benefits of Ethereum chain without having to import all your funds back to another layer 1, and they have lots of liquidity, you should Arbitrum, Avanlache and Optimism.

In extreme cases, I do not think that any of the networks impose fees equal to or greater than the fees charged by Visa or Master. In general, there is always the possibility of choosing the network with the lowest fees at a given time, and in this way it is always possible to avoid paying relatively high fees compared to the general rate. It happened on many separate occasions that the Bitcoin blockchain network became crowded and fees rose to record levels. I do not believe that any other network can reach those levels (Ethereum in previous periods).

It is important to note that some novice users do not differentiate between network fees and fees imposed by trading platforms, since most of them use these platforms as wallets and make small transfers through them.

As a cryptocurrency investors or trader's, be it full time or part time business in the cryptocurrency industries, never reason about the high gas fee's, because I once a victim of not investing in Shiba Inu coin at early stage in uniswap dex platform and I was considering the gas fee that is high not to buy Shiba Inu in Ethereum Blockchain. That makes me regret, once make a research about a coin, take the risk to invest and stopped checking high gas fee's involved, because the cryptocurrency business is about risks taken.

I think you might be mistaken it's not that the fees are too high. If you check on the TRC or Polygon network, you'll see that gas fees are much lower compared to Visa and Mastercard charges. Even when it comes to BTC and Ethereum, the transaction costs are slightly higher but still lower than Mastercard and Visa. However, I would like to point out that during a bull run, congestion can lead to fee increases, but they still remain lower compared to banks. Developers of the different chains should pay attention to this issue to encourage adoption and prevent future complaints related to gas fees.

The logical thing would be picking coins that would be less with fee and more with transaction speed. Nobody forces you to use things that have high gas fee, I mean you can if you want to but if you are complaining about it then I would suggest using something else, you are not suppose to do something that you dislike in this space, crypto was created to give you that freedom and if you are not using that freedom then you are not using it for it's full potential.

Another way would be using it less, you would be paying high gas fee but you would be paying rarely, which would mean that you are going to end up with something that would be still low on total numbers, which is a way that most people go with nowadays.

You are just using the wrong networks.  You can easily use crypto with little fees that are marginally lower.  The solution is in front of ypu jsur don't use that network.  And if you are trading toke s on that network just opt to trade other coins or tokens, there are zillions of projects out there.

I thought I'm the only one who has traumatized already by these newbies (or sometimes Jr. Members) who are asking questions blah blah, then at the middle of the thread, he will share a product that's considered new. A new way of shilling their products.  :D :D

Anyway, as for the gas fees, right now I don't see any problem. Bitcoin's current transaction fee is less than a dollar, and same goes with Ethereum. I just don't know what OP is saying. If I remember correctly, there is an increase in gas fees whenever we are in a bull run because many people are willing to pay higher fees just to sell their holdings, but with a normal day like today, gas fees aren't that high, and considered considerable if you ask me.

Can I ask you OP what coin are you pertaining with?

Have you tried using L2 yourself I'm hearing bad rumors about it

As long as cryptocurrencies are in the process of formation and in the initial stage of development, these problems will take place in the ordinary life of crypto users for a long time to come. The fact is that the most common cause of higher fees is transaction spam in the underlying blockchain and it is often related specifically to NFT tokens. Junk transactions of junk tokens put unnecessary strain on blockchains that have scalability issues. Until there are the right solutions or proper regulation that sharply limits the emergence of different shitcoins, this problem will not go away. The Internet didn't appear with 5G connection right away either, so everything has its time. The crypto industry is still very young.

I've honestly frequently used these L2 and they're just fine if you're seeking for cheaper gas fee, the only problem is that, bridging your asset to these L2, you need to pay high gas fee first, basically moving your asset from ethereum to these L2 and then after that you could have cheapest possible fee there is around only few cents but the will be another problem that you might face, be sure to check out whether the smart contract and dapps that you are interacting with which available in ethereum also available in these L2 blockchain otherwise you just gonna waste your effort.
but if its just sending ethereum or any other token like stable coin which usually also available in these L2 then you will be fine.

Even the scalable l2 blockchain can sometimes be high depending on the project,  the nature of the transaction and the time, when the blockchain is highly congested expect the fees to be very high. This should be the area where solutions needs to be provided if possible. Peak or none peak period should be able to maintain same fees.

Generally speaking crypto is suppose to be an alternative and a much cheaper one to traditional currency but for some reason it is more higher than the former. Imagine making payment with btc everyday with such high gas and volatility.

Ethereum is expensive, L2s and other chains like Solana are not, hence probably the Visa integration with Solana (https://www.thestreet.com/cryptocurrency/markets/visa-makes-history-with-solana-blockchain-integration). Ethereum has plans in it's roadmap to lessen the gas fees, it all will come right with time.

agreed, these L2 gaining popularity recently not because some proper reasoning.
they are all awaited to solve the problem that ethereum is always having for many years right now, which is solving the problem of fee taking distributing the transactions across their blockchain, i don't see reason why we shouldn't use L2.

Why would it be normal or acceptable for you to use that much money to use this? Of course you are free to not use it, but we also need to remember that all those cards charge the shop as well, you do not see it but they do.

Depending on the nation, there is a charge for it, and I am not talking about the tax, I mean the credit card, the ability to accept card payments costs the shops some money, in my nation it's 2% per transaction, could be different in some other nations. That means when you make a 1000 dollar payment, that is 20 dollars gone, and if ETH or any other coin charges less, that is profitable. Obviously for cheaper amounts, like sharing 100 dollars, cards are better, but when it grows higher? ETH is still cheaper.

More than anything, people will care more for their anonymity and ease of transaction than whatever they pay as transaction fee. Besides, what you think is high now is really minute if you compared what we suffered with ETH gas fees during the ICO years. It was simply crazy and so many of us couldn't get their bounty tokens or airdrops withdrawn because of exorbitant charges.

Nope, it doesn't at all.

You would really appreciate the fact that these 'high gas fees' are not as high as you think especially when you doing a large volume transaction let say  greater than 1000$ and you are being charged about 12$. But it becomes a concern when you are doing a low value transaction of about $30 and the charges are about 12$.
I think that's where I have a problem.

High fees are the problem... that's why we have some alts and alt-chains. It's nice when we have alternatives, and I am more than happy when I can use some of them. A few years ago we had a period with crazy high fees, since that time I haven't used Ethereum and ETH tokens, and I decided to not pay high fees ever again. Now we can use different chains with really low fees & fast transactions, and that is a great thing... we just need more services to start using them, more options are always better than just one or two.

Many people, especially the typical person, may be discouraged from adopting cryptocurrencies for regular transactions or even for investing because of high transaction fees.

Scalability is one of the main issues with cryptocurrencies, especially Ethereum, which is a well-liked blockchain for DEFEI applications. With Ethereum 2.0, which strives to increase network capacity and lower fees, and layer 2 solutions like Optimistic Rollups and sidechains, this issue has been addressed. Ethereum has also been working on ways to solve high petrol fees.
We can anticipate the emergence of more user-friendly applications and interfaces as the crypto ecosystem develops. These platforms will attempt to remove the customer from the technical details of petrol fees, resulting in a smoother, more user-friendly experience.
The cryptocurrency industry is really cutthroat.Additionally, a number of other blockchains and networks are emerging that provide quicker processing times and lower transaction fees. If the exorbitant fees on the current networks continue, users might begin looking at alternatives.
 Changes in regulations can have a big impact on the bitcoin industry. Petrol prices and the whole user experience may be affected if governments impose stronger rules on cryptocurrency exchanges and DeFi platforms.The problem is recognised by the cryptocurrency industry and its developers, who are working diligently to find solutions. They are aware of the necessity to increase public awareness about cryptocurrency.

Honestly speaking, there was a time two years back when the gas fee was so high that I waited for months to do some transactions. However, now it seems the situation has eased and the gas fee is much lower now. Doing my transactions at any time when required, I mean no concern now on it.
 But sometimes, network congestions may impact the fees structure, having said so, I don't think that it will be the same situation as previously. For the adoption of any blockchain network by Dapps, the gas fee is one of the most important thing to consider. So the lower the gas fee, more apps will be there and vice versa

maybe the right solution is to use other networks such as bsc, matic and tron or you can also use the zkevm network, the network that I mentioned is very cheap than you transact with the eth network, and there are also some defi on each network that are not less interesting than the eth network.

You're right. Once upon a Time there wasn't much choice, you either pay the crazy gas fees on ETH or you forget transacting. But today, there are so many cheap alt to choose from with low gas fees.
But the problem now is, what if,. for example you are buying a token and that token is only on the ETH network? There isn't much choice now, you either pay the high has fees or forget buying the token.

If you really like that token and you see the potential then go for it... I guess that paying high fees now can pay off one day if the token you chose to invest makes some significant rise one day. We all know it's hard to hit a gem among all those projects out there, but I still believe there are gems and some projects definitely have a nice future.

It's not yet practical, that is true. For an average person who will make transactions daily, this will hurt their financial budget if all of a sudden we rely on cryptocurrencies as the main currency for every transaction. Like for example buying a pack of cigarettes will cost us $6 which could have been $5. An average person will not buy the whole rim of it just to save money because the budget won't be enough.
Well, the good thing is, we are not yet in that kind of world. Right now, I can see a lot of applications offering a wallet to use for purchase using the currency of their own. I think that's the only solution for now, you could maximize the use of one transaction, or you could decrease the fees by using dynamic options but it will take longer than using the normal gas fees.

If you want to buy or invest in altcoin, then you must choose the right coin. And if that coin belongs to ERC-20 network. Then you have to pay network fee by investing on your volume. That's why I suggest you to buy BEP-20, sol, polygon network coins, which will give you many benefits in the transaction. Although most of the good coins are ETH.

There are many coins in the crypto market that can give you good profits and network fees are very low. Among all the networks, polygon network has the lowest coin fee.

If you only make a small transaction, you will probably feel the costs you will incur. and here you are required to be patient and diligent in checking gas costs when making a delivery, as our friend said before, the shipping cost on the eth network is only more or less 2$, still within reasonable limits I think

just sending ethereum will definitely only charge $2 or less, but honestly when it comes to swapping using dexes, executing smart contract that fee increases significantly that somtimes it will require $20 just for simple swapping, I don't think thats really fine with most of people, surely ethereum in this case needs some fixing.

That should be the case, now there are many options for delivery, unlike before there were not many choices. If it enters the ERC network, be ready, the coins we have will become antique collections and ultimately have no value.

I have already begun to forget when I had to pay such a high commission. Now the cost of transactions on the Ethereum network has significantly decreased and if you choose the right time to carry out your transactions with a Gwei of 7-10, then you will not have to pay such high commissions.

its always better if you cans witch to L2 then avoid the high gas fee because usually L2 are significantly cheaper since the sole reason L2 exists becuase its to prevent high gas fee.
many tokens are also already deployed in L2 like stablecoin so I guess for basic use L2 is best right now.

Getting high fees really depends on the market. But, as I check today's fees are not too high if you compare it before when BTC and altcoins are soaring up high. If you really want to avoid high fees then avoid the BTC and ETH networks, and switch to altcoins that offer low fees.

         -   It's only 1.4$ something on the ETH network; it's low compared to others. What exchange is this, mate? Because on Binance, the gas fee is around 2-4 dollars, as far as I know, that's where the gas fee plays. Then, the rest is really low.

I just don't understand, mate, what he really wants to point out in the topic on which he did this. Does he not want a gas fee when he does a transaction? Because if there is a gas fee deducted from our balance, it won't affect us in any way because that's normal, right?

Then, if we compare it to the government tax that is taken from their subjects on the products that we buy because we need them on a daily basis, we are not complaining about this crypto business, which is even more modest.

I also think what the OP means here is altcoin transactions, especially ETH. Many other users also complain about high gas fees and what they mean is ETH. I also recommend users to use other networks, especially when making transactions in small amounts. Currently BSC is my favorite network for transactions because it is available on many exchanges. There are also other networks such as Polygon and Tron which in my opinion are cheaper. In the end, the problem actually has a solution from the answers of the users here.

https://www.talkimg.com/images/2023/10/05/PDbt8.png
Things are much better than the period the OP mentioned,

but I personally don't have a harsh view on fees.  To be fair here, the limitations that Ethereum has not yet met have been discussed a lot, but it is clear that this is a decentralized space, and if you don't want to, you don't need to force yourself to use it, it brings freedom. When the growth period occurs, people will still be willing to pay more for fees. There are other options to use and save more on fees, but I still want the OP to think about whether the transaction fee is worth worrying about when starting to invest.

I also don't like to pay commission for money transfers or purchases, as I prefer to bypass such situations. So at the moment I just invest in TFS and keep staking their tokens at a high APY

Is it a necessity for you to pass transactions at that moment when the gas fee is at its highest (or around it)? If not then time it instead. Maybe create (or hire someone to make it) a bot that can automatically transfer your coins when the gas fees are at their lowest. Trying out other networks as well might work out on your end. I haven't experienced such high fees though, at least if you compare it to that period where fees were insanely high (and the reason why I just straight out stopped trading and started hodling some of my coins).

It's probably not practical if you're going to transfer coins with low volumes in large amounts though (for some reason). You'd probably get hit with too much fees, regardless whether said fee is high or not really.

For Ethereum coins network have lower fees gas right now but not stable for few days later keep in lower or higher again, actually current gas is most cheapest for Ethereum coins network and most excited for sending coins from wallet to exchange account or has possibilities with arbitrage coins have ethereum network. But for Ethereum coins network have not stable gas fees price, some time up and down depend how busy of transaction and make fees up suddenly. If have coins with Ethereum network is good ideas send it or deposit to exchange account if want get lower fees and seems under 7 gwei only taken under $1 as fees transaction.
Don't make it waiting for upcoming days send coin with ethereum network because upcoming next day has chance for gas or fees up again.

Yeah. True, if the token has potential, it will be easy to look away from the high has fees and go for it. But sometimes it doesn't always work that way. For instance you see a token wanted to invest say like 20$, the gas fees will be like 10$ or so, then the token does x2 and you want to pull out your capital, you discover that if you do so, it cost you another 12$ gas fees. 40$ - 12$ - 10$ = 18$.

Now you see why people without deep pockets often run from eth project

Most new projects on the other altcoins are shits, it's easy to scam people. That's not to say that project on the ETH network doesn't scam, but due to the high has fees, some people tend to avoid it and run to projects on the bep20 which will easily rug

The Ethereum network is very susceptible to spamming of various transactions related to memcoins and other shitcoin garbage. Usually, when there is a micro-hype on some token, it is immediately reflected in the price of gas. There are too many useless projects deployed on Ethereum that clutter the blockchain and inconvenience regular users. It is unknown when these scalability issues will be resolved.

Simple solution, don't use coins which need high fees to make transactions. I also hate paying high fees and to me, anything over $1 is high unless I send a big amount of money. Sending crypto-currencies has to be cheap. Expensive transactions kind of kill the purpose of crypto, that include Bitcoin. I shouldn't pay $10-20 fee to send money to my friends abroad.

Just wonders why people would engage a different system with a similarity where they obtains expected results and gaining the potentials of the first system.😏
@ EFS even the $1 dollar seems high considering the transaction rate value.
The value of gas should be rated by the minimum value of transaction value. This is why you have to let your coins accumulate so you can transact hugely on a lower charge depency.
Of course such high fees as charges can only be tolerable after evaluation of transaction values (hug amount) considering your interest gained in exchange else I would say a a swindling scheme.

never understood it, but thanks to the commission many projects live and not only in cryptocurrency