Ethereum fees are becoming like Bitcoin fees

[rz20]

Contract fees are getting higher each day but still, they are not close to BTC fees I think. But transacting NFTs on the other hand using enjin wallet is getting a bit expensive these days yesterday I had to pay around $10 in fees too sell some collectibles lol.

[semobo]

Lately ETH fees have been skyrocketing and I have been paying 50 cents for a normal eth transaction and over $1 for contract functions. Used to be a few pennies at most to get your transaction confirmed quickly.

It's same on my watch too, I use trust wallet and if I try to adjust the gas fee manually I always get a prompt that the transaction might get stucked for days so I have no choice but to send with the exact required fee, I hope this get fixed fast

This has nothing to do with the wallet and actually these kind of wallet save you from waiting forever, because if you are using completely manual wallet you may end up setting the gas fee as normally without checking the required fee at the current moment so its always better to use the recommended fee for faster transaction.

[shaheer001]

Actually Ethereum fees totally depends on Gas price and gas limit. You must set up the gas price and gas limit to minimize the fee.You set may be higher gas limit thats why you have paid more fees during transactions.

[nicedreams]

Lately ETH fees have been skyrocketing and I have been paying 50 cents for a normal eth transaction and over $1 for contract functions. Used to be a few pennies at most to get your transaction confirmed quickly.

This is currently the worst thing happening to Ethereum blockchain. Fees are now expensive and slower to confirm. Does it mean Ethereum network clogs all the time? I am hopeful something will be done soon as possible.

Yes, this is a common thing in Ethereum network when the number of transactions spiked. Best advise for everyone in this time is you should wait till the network cleared up the backlog of transactions or have to pay a high fee.

[OcTradism]

If there are ways to save fees with bitcoin transactions, there are ways to save fees with Ethereum transactions. It depends on how you make your transactions.

Check and select good Gas price (in Gwei) for your needs

[Bezobraznike]

If there are ways to save fees with bitcoin transactions, there are ways to save fees with Ethereum transactions. It depends on how you make your transactions.

Check and select good Gas price (in Gwei) for your needs

   You are right OcTradism, we can choose how much we will pay transaction. With good wallets you can choose your own
fee. But if you choose to small you will wait longer for transaction to be made. Two weeks ago I wanted to transfer some
Ethereums and I chose the lowest possible fee, I waited more than a day to be confirmed.

[Mulann2]

is there a reason behind this high transaction fee lately? I don't understand why this is happening, eth use to be my favourite coin to make withdrawal because of it's low transaction fee but now things have changed,
The other day I tried to make a withdrawal, i found myself looking for the cheapest fees because eth and btc fees where high.

[Kong Hey Pakboy]

is there a reason behind this high transaction fee lately? I don't understand why this is happening, eth use to be my favourite coin to make withdrawal because of it's low transaction fee but now things have changed,
The other day I tried to make a withdrawal, i found myself looking for the cheapest fees because eth and btc fees where high.

Bitcoin really has a high transaction fees that it is now in a $1 dollar due to its high supply and demand. While Ethereum is has now a high gas fee, that is why a lot of people are now complaining on the sudden increase of gas fee of ETH. It is the reason why I use other coins in making transaction because they are much cheaper fee and faster transaction.

[fauzan123]

is there a reason behind this high transaction fee lately? I don't understand why this is happening, eth use to be my favourite coin to make withdrawal because of it's low transaction fee but now things have changed,
The other day I tried to make a withdrawal, i found myself looking for the cheapest fees because eth and btc fees where high.

Bitcoin really has a high transaction fees that it is now in a $1 dollar due to its high supply and demand. While Ethereum is has now a high gas fee, that is why a lot of people are now complaining on the sudden increase of gas fee of ETH. It is the reason why I use other coins in making transaction because they are much cheaper fee and faster transaction.

calm down friend, I'm sure the fee for ethereum not will continue like this there may be other influences that make ethereum fees can rise high before it ever happened and what happened the ethreum fee returned to normal, I think this only a matter of time

[Bananington]

We can always reduce gas limit and gwei, but before doing that, one needs to check ethgasstation. And also reducing fees lead to slow transactions as we all know. Ethereum network nowadays is always clogged, the rise of DEFI has surged activities on ETH blockchain and I believe ETH 2.0 will help a great. The standard fees are just too high.

[10BTCaDay]

Actually Ethereum fees totally depends on Gas price and gas limit. You must set up the gas price and gas limit to minimize the fee.You set may be higher gas limit thats why you have paid more fees during transactions.

The transaction price depends on the network load. if the network has a high load and you put a low transaction price, then it can just freeze in the blockchain and you just will not send your money

[B.wealth]

This is due to the amount of transactions ethereum network is processing per seconds. With time gas fee will increase because daily use is increasing on daily basis. More project are launching under ethereum, and with this, more transactions likely to come in on a daily basis.

[robattfield]

Actually Ethereum fees totally depends on Gas price and gas limit. You must set up the gas price and gas limit to minimize the fee.You set may be higher gas limit thats why you have paid more fees during transactions.

But if you reduce the gas charge, your transaction will be delayed and sometimes it will be stuck for days. A few weeks ago I was in a similar situation when the gas charge was set too low

[timmmers]

It is a good indicator of Ethereum adoption. The recent hype around new version of Ethereum caused that more and more people are buying ETH coins to secure their position in a new Ethereum version. Those who bought now 32 Ethers will be able to stake ETH coins and earn interest from it. 

[Angemas]

Yes, in the past few weeks ethereum fee is crazy, gas price is very high. i don't know what happen right now and this is terrible. I hope this gas price issue will slowly going down.

[mexite]

This spike in ETH fees is good news for miner's but not for users because users get to pay exorbitantly more for a regular transaction. This defeats one of the value proposition of blockchain - to charge minimal transaction costs compared to traditional institutions. I think the proposed dynamic pricing model called EIP 1559 would be implemented soon to regulate this incessant gas wars.

[Bonwin]

I have always noticed that the fee accompanying the transactions on ethereum platform always increase whenever the market if going uptrend. If the few are really high now, I wonder what will happen if there is another bull run. Bith Bitcoin and Ethereum might be competing in gas fee then.

[ancafe]

Yes, in the past few weeks ethereum fee is crazy, gas price is very high. i don't know what happen right now and this is terrible. I hope this gas price issue will slowly going down.

yeah, I has heard of this kind of thing. however, fees from ethereum are not as expensive as bitcoin, only now if you want a fast transaction, you need to pay more. Yeah, but I think that many people are willing to pay quite a lot for fast and priority transactions.

[imstillthebest]

 so it is really true that eth fees are increasing   .  saw somebody complaining last time of his eth transaction saying he payed a good amount of fee but i didnt believed it because eth fees before were only tiny when i used it but i dont know now since im not using eth anymore   . now i think i can belive on him after seeing this thread here  .   it could be because the eth value increased too  ?  i didnt check its value either  but last time i saw it it was above 200 usd something   .  well time to use smaller alts now to save money from fees   .

[thesmallgod]

Well, it is not fixed. The transactions fee change all the time depend on how congested the network is. Bitcoin transaction fee is most time higher and you can't actually compare that with ethereum. Sometime it is better to optimize your spending and I've discover there are little difference in speed for various gas fee