Uniswap

[shollyen]

I really fear trading on uni swap, not because of anything, but more because of the gas fee and slippage you need to increase before you can get your transactions through, most especially at this time of congestion in Ethereum network.

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[btc_angela]

If this is the case then Uniswap or DeFi should be looking at scaling right now because everyone will suffer if the price of gas fees are continue to increase in the next couple of months. I don't know how viable it is, but this is the only solution otherwise we will hear a lot of complains and there will be a time that this problem are going to be out of control.

[CarnagexD]

Man I really got frustrated just earlier coz I paid $6 for my transaction that arrived for about 30 mins, like what is happening to ethereum network. What's bothering is that I only got a small size transaction happens to be transferring just $3, I need it instantly so I chose ethereum little did I know that it would costs me more than using bitcoin for time and money. Now if you gonna tell me why I don't wanna trade in uniswap this is why.

[FontSeli]

did you guys try trading on it? i heard fees are insane. how much gas i pay for lets say 100$?
im fomo with bunch of shitcoins there as they grow insanely, i wanna catch some profit there before coins dump...

The cost of Gas today actually reached 240 Gwei, and this is really a very large number, especially for Sunday, but you exaggerate the size of the Commission of 100 dollars.


Now the cost of Gas has fallen to ~100 Gwei you can see it here: https://ethgasstation.info/

And a leader in the transaction really was Uniswap:

[flagpara]

Uniswap offering is different from CEFI and those people using it understand the price they need to pay, but I believe with better scaling means the transaction fee would come down. There are reasons the volume is going up, today the trading volume surpass that of CoinBase today and I expect it to keep eating deep into CEFI volume

If I'm not wrong, I can't see that the "Unisawp" decentralized exchange volume isn't higher than Coinbase pro exchange. Now is the biggest advantage of centralized exchange. Some projects are moving to another blockchain for high transaction cost. It is impossible to trade in decentralized exchange but we can trade with fast TPS on centralized exchange.

[Gotumoot]

Before trading you should consider the fees and you should think if it is worth it.
If you would trade with only a small capital then all the profit and even your capital would be eaten by the fees then you would only lose it is better to hold than to trade with an exchange with a high fees.

[noorammak]

Uniswap is only suitable for rich people and deals with large amounts of money. It is not suitable for small traders because transaction fees are too high, if you do not want to lose a lot of costs then the transaction will be delayed and slippage leads to transaction failure. Or if a trader is certain that what he buys will increase in value multiple times over the time he desires, it is worth bearing the high costs because he will be rich.

[Crypto_lion]

Uniswap is a gift to all the projects as well as traders . Although the price of transactions are high due to high gas price it is a welcome addition to crypto traders especially those who prefer decentralized exchanges.

[jonatha28]

did you guys try trading on it? i heard fees are insane. how much gas i pay for lets say 100$?
im fomo with bunch of shitcoins there as they grow insanely, i wanna catch some profit there before coins dump...

I've tried to trade there couple times and its works just fine.
fees are pretty big, thats true, about $18-$28 for a transaction which is obviously insane amount but profits can be ridiculous as well

[makishart]

Yeah, it's pointless for me now. I can't sell $10 worth something without paying $20 in fees. I need to wait for the gas prices to calm down a lot before i even take a look at that again.

If this trend will still continue and there was no reason to sell your coin on uniswap. The tx fees will still remain the same if the traffic on uniswap is not get getting down. I was also watching how big the fees to trade on uniswap and that makes it not worth to be used by the small traders.

[Princejebs]

I was trying to swap another token, but when I see the fees then i rejected the transaction the fees was $7 for little tokens amount, I suggest if you want to do trading on Uniswap, then you should try to buy the token at low prices and sold out 2x or 3 x profit, it will be costly, and you will be charged from $5 to $7 fees due to high Etherum network fee

Ethereum network is killing traders vibes and making swapping becomes something for big whales. I can't imagine moving a 15USDT that cost $10 gas fee, those fee are insane compare to Btc and other blockchain network.
This should be a stepping stone for other projects that has always wanted to compete with ETH and take over the lead.

[Henrytrust]

It would be insane trying to trade in uniwap and other decentralized exchange. A majority, if not all the profit would be spent on transaction fee, because gas fee is ridiculously high these days. I've decided to leave my trades in dex and resume when the gas fee becomes more economical. It feels really bad having to spend so much on gas when the profits on trades are not substantial.

[zasad@]

It would be insane trying to trade in uniwap and other decentralized exchange. A majority, if not all the profit would be spent on transaction fee, because gas fee is ridiculously high these days. I've decided to leave my trades in dex and resume when the gas fee becomes more economical. It feels really bad having to spend so much on gas when the profits on trades are not substantial.

Uniswap discussion
https://bitcointalk.org/index.php?topic=5268409

(GUIDE) How to trade on uniswap correctly
https://bitcointalk.org/index.php?topic=5270415

you are right, there is no point in making deals for 100-200 dollars on uniswap, because the commission can be 10-20% of the amount.
But on uniswap new coins appear first, it may be worth spending $ 20 on commission and get a big profit when the price of a new coin rises

[Wingo]

did you guys try trading on it? i heard fees are insane. how much gas i pay for lets say 100$?
im fomo with bunch of shitcoins there as they grow insanely, i wanna catch some profit there before coins dump...

I don't like to trade on uniswap at the moment because of the high fees. I try to find alternative exchanges with low fees to trade high potential tokens which are listed on uniswap. But right before this alt-defi season going on, it's hassle free to trade on uniswap. Ethereum really must rush their PoS migration, otherwise many projects will migrate to other blockchains with better network speed and fees.

[asriloni]

I have used Uniswap once and it was my first experience, a little surprised because the gas needed is quite much, especially recently eth gas is very out of place. I can't calculate how much you will need but at least not too little. BTW Uniswap is very good.

It will always need more than a few dollars to do a single tx to the uniswap. Uniswap is not a suitable place for the little shrimp as the the high fees will be worthed for the big transaction only.
The defi traders are also rushing everything that related to the defi or finance token. uniswap madness is still happening.

[ibuddy122505]

This gas craze going on with decentralized exchanges are crazy, this is why I still prefer to trade on tier 1 centralized exchange. FOMOS and hype will be gone soon, I just hope this gas fees being charged by dex will be lessen its a big turn off.

You are right, decentralized exchanges is good, but gas fee is so unfriendly that even small transactions can use higher gas that is beyond estimation. If this can be more cheap in the future I think many traders will use it. Sometimes there were times when I wanted to sell my tokens but because the gas was so crazy I finally gave up.

Uniswap gas charge is so unfriendly and even could be pathetic for the little bag holders. Uniswap charges a flat rate for a fee and is only paid if the transaction is successful. The fee structure is completely unsustainable at the moment hopefully it will be calm and more reasonable.

[WalkerIVIV]

I did a trade on uniswap and how much you will pay for the fees is not depending on the how much you will send but that depends on the network traffic. It says when you are sending $100 and then you must input the same fees like others to be able to make your tx gets delivered in a few minutes and the current fees is around $35 for each transaction in the network.

It looks like the down trend has already started since yesterday.

[TastyChillySauce00]

The fee is quite hefty and definitely above average, for those who waits for the gas to decrease that's gonna be far away when uniswap doesnt come out on top of ETH25 leaderboard at ethgasstation as that means they are the one that causing ruckus and flooding with transaction in the whole eth platform. Just bear with it until we ethereum could do something to increase the scalability and capability of its blockchain network.

[khiholangkang]

The fees are very expensive at this time, if you want to trade there you have to have a large capital. For now even small transactions have to pay a minimum of $ 4 in fees

[xenon131]

This gas craze going on with decentralized exchanges are crazy, this is why I still prefer to trade on tier 1 centralized exchange. FOMOS and hype will be gone soon, I just hope this gas fees being charged by dex will be lessen its a big turn off.

You are right, decentralized exchanges is good, but gas fee is so unfriendly that even small transactions can use higher gas that is beyond estimation. If this can be more cheap in the future I think many traders will use it. Sometimes there were times when I wanted to sell my tokens but because the gas was so crazy I finally gave up.

Looks like all the bidding’s gonna be on Uniswap  soon. Trading volume on this exchange sets one record after another and nowadays exceeds than one for Coinbase not to mention the other exchanges. But I think it’s just a "market  foam" that will disappear in a year or two at the most.