insane fees on eth (uniswap)

[khiholangkang]

Recently i have done tx on uniswap. The total fees cost goes 50-80USD. noramlly compare to binance smart chain its huge.

For small player yes it is.

anyway there is "Approve" and "swap" . each there are charging. why there are two things , means approve and swap,

Because you have to approve the terms of the platform first, then you can swap.

there need to eth 2.0 or BSC needy to replacement this insane network fees... I really fedup

Currently, there are many projects on the ETH platform that have migrated to BSC, you can see them at Pancakeswap.

[1714773743]

1714773743

[btcsmlcmnr]

Recently i have done tx on uniswap. The total fees cost goes 50-80USD. noramlly compare to binance smart chain its huge.

anyway there is "Approve" and "swap" . each there are charging. why there are two things , means approve and swap,

there need to eth 2.0 or BSC needy to replacement this insane network fees... I really fedup

Not all ERC-20 tokens work on Binance Smart Chain. If you don't have option to use Binance Smart Chain for your swaps, you will have to wait for hours when transaction fees on ETH network is cheaper than other hours. You can wait and broadcast your transactions in hours from 0 UTC to 12 UTC that often give you cheapest transaction fees (Gas price) in a day.

Gas now can help you https://www.gasnow.org/

[GUIDE] How to cancel or replace an ETH transaction (Metamask, MEW, MyCrypto)

[Genemind]

This had been an issue on the ERC-20 platform since the Defi hype started. The fees will kill small investors since microtransactions still have huge fees. BNB created a solution to this providing lower fees and faster transactions, it had become one of the best platforms for Defi projects. There are a lot of altcoins that is competing with ETH right now such as ADA, BNB, DOT and many more, I guess this is the meaning of becoming one of the top coins in crypto, whatever your lapses are will be used against you. These platforms offers low transaction fees and developing and solving ethereum's problem applying it in blockchain.

[southerngentuk]

Everyone knows it's slow and not cheap, but why are people still choosing it. It is not the only product in this space to use, there is no need to complain because no one will be of any help but to accept it, do you have any other options. BSC is one of the good candidates recently, but people need to be patient for the next updates to Ethereum.

[cryptoaddictchie]

That leaves me for a reason to trade only if necessary or if I have token and coin I bought before that only can be exchange on uniswap. Dont get me wrong, but I never gonna blamed the eth network or either uniswap for this as we all knew how eth congestion worsen but of course as a consumer or client its my right to speak that eth should do anything and everything to improve this tremendous fee, I know its hard to plan up everything but this problem is not a minor issue that could affect your project later on if continously ignored. But I'm still in for the best for eth.

[btcsmlcmnr]

That leaves me for a reason to trade only if necessary or if I have token and coin I bought before that only can be exchange on uniswap. Dont get me wrong, but I never gonna blamed the eth network or either uniswap for this as we all knew how eth congestion worsen but of course as a consumer or client its my right to speak that eth should do anything and everything to improve this tremendous fee, I know its hard to plan up everything but this problem is not a minor issue that could affect your project later on if continously ignored. But I'm still in for the best for eth.

It is all about planning up your transactions. Some bounty hunters blame on ETH network when they are charged with expensive costs for ERC 20 token movements but at the same time the value of tokens they move is not too high.

Fee will be cheapest when price of ETH or ERC-20 tokens are stable in very narrow price range (not pumps, not dumps).

They decide to move their tokens when price skyrockets and by that they would know transaction fees will be high. Why they do not move their tokens when price is low and wait for pumps to sell? It is their bad plan or no plan at all and Ethereum network is not responsible for this.

[Rana590]

It is really horrible if you think about uniswap fees on Ethereum. Day by day, it is going out of control and we have nothing to do. Pancakeswap is the best alternative of uniswap if everyone use it regular basis.

[TastyChillySauce00]

that's why you should avoid using swap within ethereum blockchain at the time being, using swap meaning you gonna execute minimum two transactions while making one transaction alone already costs so high. Just use the centralized exchange at the time being if you don't have that big capital, now platform like uniswap is the bigboys' playground.

[aryana42]

Recently i have done tx on uniswap. The total fees cost goes 50-80USD. noramlly compare to binance smart chain its huge.

anyway there is "Approve" and "swap" . each there are charging. why there are two things , means approve and swap,

there need to eth 2.0 or BSC needy to replacement this insane network fees... I really fedup

You are too late to be fed up because other people are already fed up because of it, so what you need to know is that every exchange with a swap model will always have two questions, namely "Agree" and "swap" just because at Uniswap Gas the transaction is very crazy so that the it is taken advantage of by another exchange whose transaction gas is not as crazy as in Uniswap.

[leea-1334]

This had been an issue on the ERC-20 platform since the Defi hype started. The fees will kill small investors since microtransactions still have huge fees. BNB created a solution to this providing lower fees and faster transactions, it had become one of the best platforms for Defi projects. There are a lot of altcoins that is competing with ETH right now such as ADA, BNB, DOT and many more, I guess this is the meaning of becoming one of the top coins in crypto, whatever your lapses are will be used against you. These platforms offers low transaction fees and developing and solving ethereum's problem applying it in blockchain.

BNB provided a solution but this was exactly what Bitcoin Cash did when they said Bitcoin was not scalable. And we all know what happened to it. Nobody used it no matter how cheap it was.

Providing a new chain to ask people to migrate to is not always the best solution,,, it might seem like it is working now for BSC but I wonder how sustainable after defi and nft dies?

[akirasendo17]

This is why lots of projects are transferring to BSC, imagine you will buy worth 30 USD coin, and the fee is double the amount you will buy, won't you be disappointed? or selling, also the transfer fee is so high, unlike last year if this won't be fixed there will be less project launch in erc20 and lots for BSC, but I'm sure they have already had or created a fix for the issue, but until then, lots of people in the community are not happy about it.

[matchi2011]

For a faster transaction, with high priority, the total fee one have to spend on uniswap is ~$116. Who the hell using this rich network to swap tokens? I'm not that rich and I'm fine with CEX.
I was looking for buying Arcona and found this ridiculous fee.

With investors / traders that have huge amount of investment capital, they are the one who can manage to pay this fee to the priority
transaction, they've got the money and they are willing to take it.

But like you, small traders like us are surely annoyed with such high fees.

that's why you should avoid using swap within ethereum blockchain at the time being, using swap meaning you gonna execute minimum two transactions while making one transaction alone already costs so high. Just use the centralized exchange at the time being if you don't have that big capital, now platform like uniswap is the bigboys' playground.

For the time being, using CEX is the best alternative if you don't have that huge capital to cover those TX fees.
Uniswap is for those who got the money and understand the process well.

[masterrex]

Recently i have done tx on uniswap. The total fees cost goes 50-80USD. noramlly compare to binance smart chain its huge.

anyway there is "Approve" and "swap" . each there are charging. why there are two things , means approve and swap,

there need to eth 2.0 or BSC needy to replacement this insane network fees... I really fedup

That's true it was a pretty insane, unjustifiable, unsustainable name it all you want because that's true, That's why I'm stopping using those Ethereum base DEX because I feel I was robbed every time I'm using it, I'm just sacrificing my last ERC20 tokens and sell it and suffer, loses because of the huge TX fees, and then I was migrating to BSC, don't get me wrong I'm a Huge eth fan but because of these monstrous fees, it's better to leave it temporarily By the way in the news the greedy miners are against in EIP proposal and planning and attacked to the network for me that was a clear manifestation of greediness.

[tvplus006]

I have BitSong coin worth of 85$ right now, but these coin got listed only Uniswap exchange so no way to sell it anywhere. Fee is really big thing for such small amount coin. I will get nothing if I sell it now because i need to 70$-80$ fee to swap this coin. For Uniswap crazy fee a lot of users can't sell their token.

Uniswap was created not so that bounty hunters could sell the coins received from the bounty there, but for traders who trade new coins that are not yet represented on centralized exchanges. Therefore, you need to be patient when your coin will be traded on CEX, or you should use Uniswap on the weekend, when the network load will be lower and, accordingly, the commission will also be lower.

[ivankoh]

For a faster transaction, with high priority, the total fee one have to spend on uniswap is ~$116. Who the hell using this rich network to swap tokens? I'm not that rich and I'm fine with CEX.
I was looking for buying Arcona and found this ridiculous fee.

This is the big problem for a small time holder. I do have a $35 token and I can’t even sell it because of the fees. Huge fees network are crazy, they keep on growing as time past by and we’re lucky to have BSC on board though tokens are still with ETH, soon if the update of ETH fails to address this crazy fees, many will shift to BSC.

There have been a lot of topics regarding ethereum's gas ... Of course the majority of this climax complained about it.  If ETH is maintained at its high level and transaction volume evenly over the long term, it truly represents a great opportunity for miners.  And they will have huge hit points for the achievement, which means that the distance between ETH and BSC will be closer.  Condolences for this, it is force majeure at this point.

[rozak]

I have BitSong coin worth of 85$ right now, but these coin got listed only Uniswap exchange so no way to sell it anywhere. Fee is really big thing for such small amount coin. I will get nothing if I sell it now because i need to 70$-80$ fee to swap this coin. For Uniswap crazy fee a lot of users can't sell their token.

Uniswap was created not so that bounty hunters could sell the coins received from the bounty there, but for traders who trade new coins that are not yet represented on centralized exchanges. Therefore, you need to be patient when your coin will be traded on CEX, or you should use Uniswap on the weekend, when the network load will be lower and, accordingly, the commission will also be lower.

indeed sometimes there is a reduction fee at UniSwap. but I guess it's still too high a value.
before the BSC was launched and was as busy as it is today. Transaction fees at UniSwap are already very expensive compared to other exchanges. and this is also exacerbated by the increasingly expensive price of ethereum.
UniSwap is not friendly for bounty hunters. would be preferable to UniSwap for large traders and investors.

[codpku]

Every market have their market i think, people who use uniswap ofcourse already count their profit and $50 its just a common for them i think

[Onuohakk]

The high cost of transactions fee is not from uniswap rather it's from the ethereum network.
Uniswap just made trading easier and faster without long protocols of KYC.
If the ethereum network continues with its high rise of transactions fees, in year's to come another preferable altcoin will be used other than ethereum

[rosebrand]

The transaction fees charged by Uniswap is just too high and expensive therefore Making small traders being unable to transact using Uniswap because there can't afford paying such high amount and this is actually caused by the ethereum high gas fee for transactions and if this isn't resolved people will be left with no choice but to find a cheaper network to work With. Uniswap is for big traders who can afford paying such high fees for transactions.

[mdzahed134]

I have BitSong coin worth of 85$ right now, but these coin got listed only Uniswap exchange so no way to sell it anywhere. Fee is really big thing for such small amount coin. I will get nothing if I sell it now because i need to 70$-80$ fee to swap this coin. For Uniswap crazy fee a lot of users can't sell their token.

there is nothing you can do about it, because the fee at Uniswap is like the price of Bitsong you have,
I also have other coins, and only $ 40 only,indeed it means a lot to me, but we can't do anything but wait for fees to fall

Don’t expect for reduce network fee earlier because Uniswap fee is always over than any centralized exchange. Even though i think also ETH network fee doesn't seem to be lower very soon, provably will take end of this year i mean we have to keep patient until launch ETH 0.2 Besides, i don't see any sign of reduction at the moment.