Ethereum fees are becoming like Bitcoin fees

[leea-1334]

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.

I've been experiencing a huge increase in transaction fees lately, i think there is congestion causing the network to clog. It might be due to the #DEFI wave that brought about many projects launching their products on eth network.... I heard that the blocksize also got increased by almost 10times and with ethereum 2.0 around the corner to launch, i believe we'll see an improvement real soon

I had to pay $5 ++ for smart contract functions for some stupid thing just to get my ETH unlocked out of a stupid platform I never want to use again. I actually even waited a couple of weeks but the price of gas got actually worse, not better. Ethereum really needs to fix this because Bitcoin fees were a problem for a short time and you knew it does not last but ETH seems to be getting worse and worse.

[Poppy_ALTStrader]

It's a big problem, if you make a contract transaction without fee limitation, the transaction fee may cost up to $50 for per transaction. But if you set up limit gas, the transaction will take up to hours to complete.

I hope the fee will decrease at the nearest time because it's pretty high

[cryptoherr]

Yeah the decentraliced finance trend increases ETH fees. Most defi products are built on Ethereum this means a lot of traffic for the network. I myself have a transaction which is stuck since 1 month haha

[ufaiz50]

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.

You can make adjustments to the GAS according to the fee you want, but that will affect your transactions. I also experienced an increase in fees on transactions but that is not so much in my opinion and not so much a problem because you can adjust the GAS value according to what you want. ethereum raised their size block so I think the miners also increased their gas limit. The benefits also affect us with increasing block sizes.

[torrantz]

It's a big problem, if you make a contract transaction without fee limitation, the transaction fee may cost up to $50 for per transaction. But if you set up limit gas, the transaction will take up to hours to complete.

I hope the fee will decrease at the nearest time because it's pretty high

It will certainly decrease but when the traffic become lower. It's always the nature of blockchain to get its price increased when the traffic is high since people always racing to get their transaction confirmed thus giving higher fee. Actually, using usual normal fee could still make your transaction get confirmed but just longer.

[fuer44]

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.

no, not go up. yesterday I sent eth from wallet 1 to another wallet the fee is still low. You might set the gas price too high so the fee is high and that also impacts the speed of the transaction. just try to set it to the default gas price. waiting a little longer is not a problem, after all, also not until 1 hour for gas prices in general.

[Squezzi55]

The issue with Ethereum high fee should be fix and better once the next 2.0 upgrade get launched, with proof of staking things will be better I believe, if you are facing glass fee issue I suggest you find wallets like coinomi or trust wallet to adjust fee manually, also don't reduce too low, this can make your transaction hang in the blockchain for long

[casperBGD]

yeah, that it a fact, but as well, average BTC transfer is cca. $1k, and for Ethereum network it is not viable for most games and applications to have this high transaction fee, it takes more to transfer something, than the value of the transfered item, this has to be improved, or number of users on Ethereum will go down, which is not necessarily a bad thing

[Thomas-s]

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.

no, not go up. yesterday I sent eth from wallet 1 to another wallet the fee is still low. You might set the gas price too high so the fee is high and that also impacts the speed of the transaction. just try to set it to the default gas price. waiting a little longer is not a problem, after all, also not until 1 hour for gas prices in general.

the price changes every day. if yesterday I sent money and the price of the commission was 0.3 $, then tomorrow the price for the commission may already be 1.3 $. such volatility is not normal. I hope that they can fix it, one day

[MCobian]

It's true that Ethereum fees are very expensive now, I made Ethereum withdrawals from exchanges that got fees above $ 1
or around 15,000 satoshi. Maybe increasing from block size, miners decided to increase the gas limit. Therefore I prefer other
altcoins, which cost transactions are cheaper when withdrawing from exchanges. I recommend Litecoin or Ripple.
 

[MUG1WARA]

some time ago I posted a discussion about gas prices here https://bitcointalk.org/index.php?topic=5261480.0.
I am a lover of ethereum but if the developer cannot overcome this problem soon there will probably be many people who will feel bored and will use another altcoin

[omnik]

It's a big problem, if you make a contract transaction without fee limitation, the transaction fee may cost up to $50 for per transaction. But if you set up limit gas, the transaction will take up to hours to complete.

I think that any wallet has already put the automation to calculate the fees based on the latest data that can be gotten from the ethgasstation. That doesn't make sense if you were saying like that but again what you meant about contract tx and did you meant to create a new contract?

[criket]

some time ago I posted a discussion about gas prices here https://bitcointalk.org/index.php?topic=5261480.0.
I am a lover of ethereum but if the developer cannot overcome this problem soon there will probably be many people who will feel bored and will use another altcoin

I was also surprised by what happened to transaction costs from Ethereum. maybe you are right, it can make traders less attractive. Moreover, the ethereum market price growth is also not too high.

[amos77978]

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.

and I thought I'm the only one who noticed the hick in price of transaction fee.. I've now moved most of my savings in cryptocurrency into bitcoincash.. it has far lower fees compared to ethereum

[amos77978]

and something seriously needs to be done to reduce the fees on the ethereum blockchain else most projects may start looking for an alternative blockchain to build their platform

[bitgolden]

I feel like people are making a big deal out of the fee's. I get that we are using crypto because it is cheaper to send and receive money thanks to crypto, plus in many nations half a dollar is still a lot of money and in those nations regular bank transactions are not even that much.

However bitcoin and ethereum were never created so that you can send money cheaply and fastly, it was created because it was a better alternative to regular currency, not to payment processors. Bitcoin is not a rival to paypal, it is a rival to money itself as the whole concept. So, if you see etheruem fee's increasing (which is still quite low if you ask me) remind yourself that it doesn't matter because ethereum doesn't have a goal like being cheap to send, it has a goal to be better than dollar.

[Poppy_ALTStrader]

and something seriously needs to be done to reduce the fees on the ethereum blockchain else most projects may start looking for an alternative blockchain to build their platform

Guess it's one of the reason why fees are becoming higher...

[Pasutinmeur]

and something seriously needs to be done to reduce the fees on the ethereum blockchain else most projects may start looking for an alternative blockchain to build their platform

Core developers of ethereum have been planning to implement the sharding on the serenity update and I think you will not see higher fees like what is happening right now. It will come next year and people must be patience.

[sayam]

I was surprised to see that the minimum gas price is over 65 Gwei now. I know that it's possible to transact with low gas prices but that particular transaction can be failed. Even if successful, it may take a long time. If you have to pay 1$ fee for 5$ transaction it's really bad.

[OptimusPrime_3]

Alarming, the increasing price in fees are really alarming. Price changes almost if not everyday. The volatility is on the high side.We are forced to think what happens with ETH 2.0?