ETH Gas transactions price is about to hit 300

[Vishnu.Reang]

Just talked to one of my friends, who is stuck with $20 worth of tokens that he received from a bounty campaign. He want to convert the tokens to ETH or USDT, and has already gone through the tedious KYC procedure in the exchange. But now he is saying that he can't deposit the tokens in the exchange wallet. The gas fee, plus the deposit fee would eat away all his capital.

[bakasabo]

Just talked to one of my friends, who is stuck with $20 worth of tokens that he received from a bounty campaign. He want to convert the tokens to ETH or USDT, and has already gone through the tedious KYC procedure in the exchange. But now he is saying that he can't deposit the tokens in the exchange wallet. The gas fee, plus the deposit fee would eat away all his capital.

He might find someone trusted that has same tokens, send his tokens to him (or receive same tokens). After that they might send total number of their tokens and “divide deposit fee” among two of them. Usually, deposit fee is a constant number of tokens, not % of deposited amount. With this method, his deposit fee would be 1/2 of he might have paid. Find more people and decrease deposit fee for everyone.

[Bossfidelity]

I personally would move my funds to dogecoin or any other project Inorder to save costs especially when transferring from an exchange. The transaction fee for ethereum is way too high and I would rather wait for the transaction fee to drop than send on 300gwei. That's over $10, and it's not convenient for me. I wish this issue with ethereum could be resolved sooner.

[H1N1]

Well, it can't be helped because currently there are many transactions in DeFi platfrom that using uniswap or usdt.
Unless they using the gas fee lower, we cannot using low gas fee because if we using low gas fee, the miner won't give priority to our transaction.
Converting to other coin in exchange before withdrawing is the best option i guess.

[mariaana]

I personally would move my funds to dogecoin or any other project Inorder to save costs especially when transferring from an exchange. The transaction fee for ethereum is way too high and I would rather wait for the transaction fee to drop than send on 300gwei. That's over $10, and it's not convenient for me. I wish this issue with ethereum could be resolved sooner.

So you did move your funds to dogecoin or didn't you have eth in the first place?
I don't see how this issue could be solved at the moment at all, we managed to struggle through btc's high fees and long ass transactions for years.
Now we witness this eth boom for several months and whining already - that is not fair. Moreover, eth is going to update itself to eth2.0 one day, but there won't be btc2.0 ever again for comparison.

[piebeyb]

i know its sound crazy but its really happend to ETH when i try to send my 0.01 eth to gambling website, im getting shock when see the ethereum gas price is about hitting 300 , currently if you want to get confirmed faster with ETH chain, you need to use 275 GWEI for your transactions is getting confirmated in 2 minute, tell me what are you gonna do with your ETH if you hold some, are you gonna sell and move to other altcoin like in 2017 when smartcontract are very popular with the kitty on ethereum chain?.

dont you think we are on same situations as 2017-2018 when the gas for eth is high people start move to litecoin & dogecoin which have small fee and the both coin getting very pump.

stop ETH transactions and whatever if the gas fee is very expensive, if I want to withdraw my funds on the exchange, I will convert it to XLM because it is cheaper for the withdrawal fee, the withdrawal fee on the exchange is also very expensive when using ETH

[Francis Freeman]

Read an interesting interpretation that the bull run is sustaining because of the high gas price and transactions prices as the users are not able to withdraw from exchange.

[Oppo57]

At present the price of Ethereum transaction gas is very high. In doing so we are facing many difficulties which are never desirable. Cryptocurrency is worth a lot of its time, but the amount of time it takes to transact due to gas price is costly. So ethereum needs to solve this problem as soon as possible.

[Annamike]

The gas fee is actually overwhelming, I haven't been able to do any transactions for now, even the little one I wanted to do was been charged as high as $12, I just had to cancel it. And pray the transaction price normalizes fast cos I wonder what will happen to majority with the way the  ETH price is going