Cryptocurrencies now days are more than money! very high cost and fees high now!

[izanagi narukami]

But if you the fact right now, the value keep going high.

What does it means ?
More people interest on crypto as investment and as transaction because for me, crypto's transaction still cheaper than fiat

[guoyu78]

If you think that the fees you're seeing right now is high, then wait till the price of Bitcoin goes high to a rate like $20,000 and then you will know what is high fees. Currently the fees we have is not even high if you ask me, cause I can remember that the fees in 2017 was way more high than what it is now to the extent a lot of people started complaining about it. Haters started using that opportunity to talk about price correction lol. So this is a normal thing with cryptocurrency, as the price is going up so will the fees for transaction be going up as well. That's why you will see few people that don't even want the price increase.

[Cosbycoin]

Where you get this analysis? I have recently traded some bitcoins with very low transaction fees and this exchange also provide a secure wallet.
"Trade with Confidence"

Of course it is easier, faster and less expensive than banks to get your money transferred in Bitcoins. You have gotten that cost of trust eliminated if you use Bitcoins to transfer your money. I do not know why you find the fee so high. Did you do the comparative analysis? You could still try to look for alternatives that might enable you to save money that you paid as transaction fee but I think there would be little difference.

[GregH37]

Where you get this analysis? I have recently traded some bitcoins with very low transaction fees and this exchange also provide a secure wallet.
"Trade with Confidence"

Of course it is easier, faster and less expensive than banks to get your money transferred in Bitcoins. You have gotten that cost of trust eliminated if you use Bitcoins to transfer your money. I do not know why you find the fee so high. Did you do the comparative analysis? You could still try to look for alternatives that might enable you to save money that you paid as transaction fee but I think there would be little difference.

Do people still want to compare the transaction fees they pay using a traditional centralized system to what they pay when using the decentralized system of blockchain for their transaction. If we consider so many things that blockchain transaction has even eliminated from the normal ways we have been transacting of business, we would realized that it is not even up to 1 % of what we would have lost if we had gone through the other local way.

I think we just need to learn to appreciate the system and stop looking for everything to be free and to me, most of the transactions I have done through blockchain has been fast enough for me.

[Kiweikoo]

That's the risk of bitcoins price increase, the fees are even getting higher. As for me, we have our own views and perspective in cryptocurrency and yes, fees are making things hard but I still see the bright side of cryptocurrency there. Transaction fees aren't new so we should just deal with it.

Ya it is already happen before and it is more than now, we people must remember when bitcoin price on it's peak, it fees for sure is higher than now. But in other side, our assets value grow too. I think it is consequency in crypto and people who join in it don't have any choice right?

Come on man! A 0.14 USD/tx is charged as a next dollar fee after making a transaction of 6 blocks. I do not find the price as high as you have to give in banks. And since there is a high demand for crypto, and the system operates at the speed of light and there are so many reasons due to which Bitcoin is growing, it is going to go up in values. This is another reason why the prices of Bitcoin wick rise.

[shark69]

Cryptocurrency has now moved into an investment instrument, that's the fact that happened.  This has deviated from the original goal of becoming a currency.  People only intend to save cryptocurrency then wait for the high price to sell it, isn't this an investment concept.

[redsun114]

If you think that the fees you're seeing right now is high, then wait till the price of Bitcoin goes high to a rate like $20,000 and then you will know what is high fees. Currently the fees we have is not even high if you ask me, cause I can remember that the fees in 2017 was way more high than what it is now to the extent a lot of people started complaining about it. Haters started using that opportunity to talk about price correction lol. So this is a normal thing with cryptocurrency, as the price is going up so will the fees for transaction be going up as well. That's why you will see few people that don't even want the price increase.

Yeah that is right. The fee rises with the amount of money you want to transfer and the rise in the market value of Bitcoin. This is because the fee that is associated with one dollar transaction rises as you keep on increasing the number of dollars after a certain point. And when the value of Bitcoin is high, you of course have to pay a bit high for the transfer of a huge value.

[Indrawan77]

The cost and fee maybe high for now but it will reduce in the future and it's your lost if you don't want yo invest in crypto, there are many people already gained profit, it has been proven really easy to used crypto as a global payment, so if you think crypto doesn't give you easiness then juts don't used it

[akram143]

Everyone is agree that the cryptocurrency are definitely more valuable than the normal money but we cannot know how to the valuable things properly that's why the cryptocurrency still now not being accepted by people but improving the cryptocurrency is effective for everyone in their future.

[michellee]

Cryptocurrency has now moved into an investment instrument, that's the fact that happened.  This has deviated from the original goal of becoming a currency.  People only intend to save cryptocurrency then wait for the high price to sell it, isn't this an investment concept.

Not just for investment instrument because cryptocurrency now becomes a new way for people to make money. We see that many people still trying to make more money from crypto, and they use many ways to earn more bitcoin or another coin. But we see that the fee was increased too related to the increasing of bitcoin price and that will make people save their bitcoin and only withdraw if they need money.

[maxreish]

Obviously, on smaller amount it is getting worse but that is only for bitcoin. If you are going to send a million dollars to someone via bitcoin that is great, but if you want to send 5 bucks to someone you can either use ethereum or any other smaller altcoin.

Quite true. OP, I understand where you are coming from. But i do not think cryptocurrencies are not worth to invest where in fact many of us here are enjoying the profits we've got from bitcoin. There is a solution to your frustrations. I also convert my btc to other altcoins like eth  or xrp to at least lessen the fees. As you can noticed, btc tx's are very slow. Eth and xrp transactions are not.

[ricardobs]

Where you get this analysis? I have recently traded some bitcoins with very low transaction fees and this exchange also provide a secure wallet.
"Trade with Confidence"

Of course it is easier, faster and less expensive than banks to get your money transferred in Bitcoins. You have gotten that cost of trust eliminated if you use Bitcoins to transfer your money. I do not know why you find the fee so high. Did you do the comparative analysis? You could still try to look for alternatives that might enable you to save money that you paid as transaction fee but I think there would be little difference.

Do people still want to compare the transaction fees they pay using a traditional centralized system to what they pay when using the decentralized system of blockchain for their transaction. If we consider so many things that blockchain transaction has even eliminated from the normal ways we have been transacting of business, we would realized that it is not even up to 1 % of what we would have lost if we had gone through the other local way.

I think we just need to learn to appreciate the system and stop looking for everything to be free and to me, most of the transactions I have done through blockchain has been fast enough for me.

Talking about the transaction fee, Bitcoin has dramatically reduced the transaction fee as compared to the banks or other third parties who would charge you something called the cost of trust much higher in value as compared to what you have to bear here. This is the reason people prefer to transfer their money in the form of Bitcoin-and transaction stays between the payer and the payee.

[dimonstration]

When we do transaction make sure to use or maximize it to the fullest, like don't send twice or thrice if it's a same address to send with at almost same time. Maximize the transactions your about to use. It needs some planning before doings so on how you'll be able to retrieve those fees back thru trading.

[Oilacris]

Where you get this analysis? I have recently traded some bitcoins with very low transaction fees and this exchange also provide a secure wallet.
"Trade with Confidence"

Of course it is easier, faster and less expensive than banks to get your money transferred in Bitcoins. You have gotten that cost of trust eliminated if you use Bitcoins to transfer your money. I do not know why you find the fee so high. Did you do the comparative analysis? You could still try to look for alternatives that might enable you to save money that you paid as transaction fee but I think there would be little difference.

Do people still want to compare the transaction fees they pay using a traditional centralized system to what they pay when using the decentralized system of blockchain for their transaction. If we consider so many things that blockchain transaction has even eliminated from the normal ways we have been transacting of business, we would realized that it is not even up to 1 % of what we would have lost if we had gone through the other local way.

I think we just need to learn to appreciate the system and stop looking for everything to be free and to me, most of the transactions I have done through blockchain has been fast enough for me.

Talking about the transaction fee, Bitcoin has dramatically reduced the transaction fee as compared to the banks or other third parties who would charge you something called the cost of trust much higher in value as compared to what you have to bear here. This is the reason people prefer to transfer their money in the form of Bitcoin-and transaction stays between the payer and the payee.

And this is where Bitcoin is do much preferred yet making transactions peer to peer without any 3rd party involve which do make it as a gem but

Soaring fees would be the main problem when BItcoin networks tend soar and have that kind of price rally.It do charges even more that on a usual fiat transaction
and this is the flaw I'm seeing with btc.

[aderidwan98]

High cost ? Not really, if you object to the high costs of bitcoin or ETH you can use Altcoin for payment tools to avoid high shipping costs, such as XRP, ACT or XLM

[mersal]

High cost ? Not really, if you object to the high costs of bitcoin or ETH you can use Altcoin for payment tools to avoid high shipping costs, such as XRP, ACT or XLM

It seems like the transaction fees were high but no that really because increase of crypto currency increases the same value of satoshi to be higher when we convert them into USD so don't calculate the fee with USD only make calculations on sats/byte which can make us to know that fees are high or low at the moment.

And also we can send transaction with low fee when there is not much of priority to receive the transaction immediately.

[Ucy]

Well, this is likely due to congestion ... which is usually temporal.
Some cryptocurrencies  have  permanent solutions for  the increase in fees and network congestion.  Bitcoin for example would solve this eventually with improved and effective lightening Network

[rodel caling]

Everyone has a different analysis, and I like your analysis of crypto fees.
If the fee is expensive, there is actually a good solution trying to use another coin that has a cheaper fee. XLM / stelar applies a low fee on every transaction. I think it's worth a try.

I respect your opinion and i agree with you everyone has own analysis and experience, I think transactions fees it depends on the exchange we can use some they take advantage to get high transaction if the market is doing good.

[Cosbycoin]

The cost and fee maybe high for now but it will reduce in the future and it's your lost if you don't want yo invest in crypto, there are many people already gained profit, it has been proven really easy to used crypto as a global payment, so if you think crypto doesn't give you easiness then juts don't used it

Well yeah with the passage of time, as crypto spreads more and more, there could be dramatic reduction in the cost of transaction. Even now, it is very good and economic to get your funds transferred using Bitcoin rather than doing so via bank which charge you big money. The cost of transaction goes on replicating as you increase the fund transfer above a limit in case of banks.

[shesheboy]

Nowadays ? What about before ? On the past years when crypto started to became popular and its price boosted , crypto is already considered as more than money due to its high price and also on its different usage  . you can add in the expensive fees ( as what you said )  but despite all of that , i think money is still superior and cant be replaced by any other payment method/currencies not even cryptos .