Fees are sky high

[ElaineGanda]

The market price value of top cryptocurrencies are inceasing along with the gas fee of some of them. It is sad that there are side effects in increasing the price and of it is the high gas fee. If affects the low-end or small time traders and investors because most of their investments will go only in gas fees.

That's why you have to look for other coins that don't run on the ethereum network , many projects are moving from the ethereum network to the binance network, so research before you buy coins, such as USDT which runs on many networks such as ethereum, binance, omni, tron .
So when you want to withdraw you can choose the Binance or Tron network because the costs of these two networks are cheap.

But how about the conveniency and effectivity of those altenative networks? Is it often to experience the data traffic while the transactions are on going? If those alt networks are worth it, then I go with it and leave ethereum.

[Alohadanc3]

Yeah for last 5-6 months the gas fees in ethereum is touching sky. And day by day it's increasing even more. After uniswap and more likely the defi projects the gas fees started to pumpnand if the market go more up it will go higher. But after ethereum 2.0 come to market this problem will be solved. Before that we don't have anything to do. That's it.

[Teraboy]

after ethereum 2.0 come to market this problem will be solved. Before that we don't have anything to do. That's it.

The question is if when will it happen? We must see that if there will always be the delay before the implementation of old proposal. That gives us a small insight about the possibility for the proposal to be delayed again.
The proposal already tested but that needs more process to be implemented in the network.
Implement the proposal is not an easy task dude. This is always having various contradictions.

[aryana42]

Yeah for last 5-6 months the gas fees in ethereum is touching sky. And day by day it's increasing even more. After uniswap and more likely the defi projects the gas fees started to pumpnand if the market go more up it will go higher. But after ethereum 2.0 come to market this problem will be solved. Before that we don't have anything to do. That's it.

Yes, but the problem is when will Ethereum 2.0 be fully resolved? this is what a lot of people are waiting for right now, because so many people say so that makes everyone wait for it, so are you sure when Ethereum 2.0 is finalized there will be an effect on the Gas cost?

[molsewid]

That is the problem of most because the gas fee is very expensive especially when you send ethereum and bitcoin to other wallets or transactions but if you really want to buy BCH try to swap your funds with another exchanger that has a small fee such as poloniex exchanger and there buy bch using different tokens.

Up until now the most concern of every traders and investors of cryptocurrency was its fee which is as high as the sky. Which is i understand that some of us here were thinking twice if they were going to convert their crypto to in cash it in their respective nation currency. Even myself, it is my most concern and if i had an extra source of income that i could use to sustain my needs in life, i wouldn't want to convert my crypto unless it is so important.

[Kitaiev]

High Fee is now a big problem for low income investor. Of course no one can bear 20% fee.
I have some solution for you to avoid high fee.
First choose Binance P2P trading where you will get Usd or Btc without any fee. Then trade for BCH.
2nd one is tobuae FTX exchange. Send trc20 to Ftx and exchange this xoin with BCH. Ftx has no withdraw fee . you can withdraw btc,Eth,BCH without any fee to any wallet or exchange.

I did everything as you described and at the moment FTX exchange has changed its policy for withdrawing funds. At that time i was withdrawing ETH from the exchange and paid commission of 0.0025 which isnt much compared to other exchanges...

[gwdf1]

Ethereum developers make no claims about any solution to the problem of expensive transactions. This puts people in an uncomfortable position and they have to look for alternative methods of transfers in other networks. You can see how the price of BNB jumped and the volume of transactions on BSC increased

[Mahanton]

Ethereum developers make no claims about any solution to the problem of expensive transactions. This puts people in an uncomfortable position and they have to look for alternative methods of transfers in other networks. You can see how the price of BNB jumped and the volume of transactions on BSC increased

Impressions that i do have on this moment or whats up into my mind on telling, what he heck ETH developers been doing this time? Fees are way too high and there's
not sign of some sort of network becomes normal and still continuing to experience the same problem which isnt already tolerable for a long period of time.
If we do compare it on Bitcoin clogged network and the time or duration on where the network becomes calm then you can really tell the difference.
They do have their own flaws but you can point out which one is bearable and which one isnt.Time for jumping on other boat?

[tabas]

Ethereum developers make no claims about any solution to the problem of expensive transactions.

Actually, there's already a solution that's about to come somewhere around July of this year.
Ethereum’s ‘EIP 1559’ Fee Market Overhaul Greenlit for July

[BuNga_cute]

In my opinion, BCH transaction fees are not very high when compared to Ethereum which has much higher transaction fees. Maybe you chose
the wrong platforms to buy BCH, so you will be exposed to quite high transaction fees. I recommend using Binance to buy BCH, you can first
deposit to Binance exchange and after that you can buy BCH. You can later prove yourself that the BCH transaction fees are not that high.

[ElaineGanda]

Sad to say that fees are also soaring high and it is not profitable on the side of small scale investors. Well I read that by the month of July, the issue of high gas fee in ethereum will be resolved, I hope that other tokens with high gas issue will be resolved also.

[kramchers]

I have about 35$ that I'd like to buy BCH with, but with the transaction fees, I can barely get 8$ out of those 35$. Anyone know a way to buy BCH on blockchain directly from your BTC balance? Also, Could I maybe set a low low fee and use transaction accelerator to push it through?

Does your local change have XRP? Because in my local exchange there is an XRP where I can able to convert my fiat into this currency,
then once it's been converted the transaction fee is too small or cheap. And once it has been transfer I can now sell it in the platform where I transferred it to start an activity in trading in the exchange, just simple as that.

[CryptoSable]

Yea, high fee is a big problem

[poodle63]

Ethereum developers make no claims about any solution to the problem of expensive transactions. This puts people in an uncomfortable position and they have to look for alternative methods of transfers in other networks. You can see how the price of BNB jumped and the volume of transactions on BSC increased

Bruh there's already proposed solution and it's still ongoing on its implementation, you know what the devs could not do much without miners support and it's really annoying I know but for the implementation to take an effect it needs some time, not to mention last time I checked the last block average fee it's already relatively low although still higher than other blockchain so our best course of action is just to wati.

[cyriljundos]

i think bch would be the wrong choice for you. choosing other alternative coins that you can probably gain you extra income. if you buy $35 and you will get only 8$ it would be too much fee and its quite high . i would suggest you to buy alt coins on exchanges and trade it so that you can earn and gain profit.

[tygeade]

I really don't know how going to fix this, if eip 1559 will help ETH or if there is a situation with bitcoin that will be fixed but this really keeps people from buying. Think about how many people will decide not to invest if the entry point is paying 40 dollars as a fee for getting in, and think of how many more people would join if the fee for getting in was 70 cents?

I mean they are obviously different and I would say that it slows down our increase as well, which is why I do not believe that we should be getting these fee's any higher, but I do not know how we will get it lower neither.

You know the reason why its high right? Miners do not "charge" people a lot, it is the people that pay a lot, if people decided not to pay we could drop it right away today in an hour make it small, but people pay more to get theirs go faster and that causes it to basically go up more than we can assume because they compete with other rich people to pay more to get their transaction done and poor people left in the between get the trouble.

[ElmedoRator]

I really don't know how going to fix this, if eip 1559 will help ETH or if there is a situation with bitcoin that will be fixed but this really keeps people from buying. Think about how many people will decide not to invest if the entry point is paying 40 dollars as a fee for getting in, and think of how many more people would join if the fee for getting in was 70 cents?

I mean they are obviously different and I would say that it slows down our increase as well, which is why I do not believe that we should be getting these fee's any higher, but I do not know how we will get it lower neither.

You know the reason why its high right? Miners do not "charge" people a lot, it is the people that pay a lot, if people decided not to pay we could drop it right away today in an hour make it small, but people pay more to get theirs go faster and that causes it to basically go up more than we can assume because they compete with other rich people to pay more to get their transaction done and poor people left in the between get the trouble.

Yes it is very annoying but still have to accept and wait, I still have some coins on ERC20, and it really makes me crazy when I withdraw $50 and lose up to $20 in fees, that's why I specialize in BSC more recently. I also heard about EIP1559, and they will start from April 7 and hope by then things will become more stable.

[Cling18]

That's actually one of the struggles that I have been facing these days. Out of 100% of the coins that I'm withdrawing, I'm usually spending 40% on the fees. I tried using lower fees and my funds ended up being stuck and unconfirmed for weeks but we have to deal with it since that's a part of the market growth.

[nicecrypto]

I have about 35$ that I'd like to buy BCH with, but with the transaction fees, I can barely get 8$ out of those 35$. Anyone know a way to buy BCH on blockchain directly from your BTC balance? Also, Could I maybe set a low low fee and use transaction accelerator to push it through?

For bitcoin, Ethereum, Bitocin Cash. It is estimated that we will spend quite a lot of money if our transactions are low. why don't you use altcoins with low fees? There are many options such as Tron or Doge. the delivery itself is quite fast than bitcoin. with the money you call you should choose this and avoid sending bitcoins if your money is low because you will spend a lot of fees

Exactly, I was going to do some transfer with Ethereum and this was even before all this madness of high gas fee and I noticed it would be cheaper for me to convert my bitcoin into Tron and send the Tron to the other exchanges which as you said was faster and cheaper. I think we just have to be wise with this things as we navigate the crypto ecosystem.

[Savagecodes]

High Fee is now a big problem for low income investor. Of course no one can bear 20% fee.
I have some solution for you to avoid high fee.
First choose Binance P2P trading where you will get Usd or Btc without any fee. Then trade for BCH.
2nd one is tobuae FTX exchange. Send trc20 to Ftx and exchange this xoin with BCH. Ftx has no withdraw fee . you can withdraw btc,Eth,BCH without any fee to any wallet or exchange.

Sounds very good solution for the OP. However you can also try to go with the BNB as fee structure. I think they are having 50% off on your fees if you pay with the BNB. But again the challenge is you need to have BNB in your possession to avail that offer.

You can also try to go with the SWAP option from other sites. I think that will have less fees and your swap would be far instant as compared to sending the money to BCH broadcast.