insane fees on eth (uniswap)

[Golftech]

The reason why am not able to buy or invest in any project that is trading on uniswap only, it is ridiculous how people sing praises of the is exchange with high gas fees, it doesn't make sense why a dex should have such high fees, am not a fan, not now not never 

This affected so many investors trying to buy coin during the Defi hype period, that's why most of the project falls in to bsc smart chain for an easy charge, ethereum blockchain is demanding huge charge for a transaction this time, $15 which is equivalent to what some low dude can't afford.

But most of those traders and investors who ride with DeFi hypes do have enough money, I'm talking about

those who took advantage of the hypes, even they are paying huge amount for the transaction fees it's been

covered since they are really investing huge amount and expecting high returned profits, it's vety unlikely with

small players, the fee itself already sucked the initial investment so it rather not to participate.

[ene1980]

This problem with high commissions occurs mainly in bounty hunters when they try to transfer their earned coins from the wallet to the sale. For those who constantly trade on decentralized exchanges, such commissions are not critical, because the profit received from trading is thousands of dollars.

The small traders are suffering in situations like this and there is no way they are going to trade during these high fees situation thinking they could profit and even big traders who are planning to trade for a much longer time the amount of money they are providing as transaction charges will accumulate and become insane even if they are doing thousands of dollars worth of profit.
If ETH does not fix the issue many chains will migrate the platform from ETH to others.

[Twinkledoe]

This problem with high commissions occurs mainly in bounty hunters when they try to transfer their earned coins from the wallet to the sale. For those who constantly trade on decentralized exchanges, such commissions are not critical, because the profit received from trading is thousands of dollars.

The small traders are suffering in situations like this and there is no way they are going to trade during these high fees situation thinking they could profit and even big traders who are planning to trade for a much longer time the amount of money they are providing as transaction charges will accumulate and become insane even if they are doing thousands of dollars worth of profit.
If ETH does not fix the issue many chains will migrate the platform from ETH to others.

Uniswap is not for small traders anymore. Anyway, a lot of projects are going to BSC already. So if they will not improve their fees, in time, they will lose a lot of customers, even with these big whales. Of course, they always want cheaper fees. And if there is another option, I seriously think, they will go for it. So they should be prepared for that to happen. Traders switching to a better platform.

[Distinctin]

The reason why am not able to buy or invest in any project that is trading on uniswap only, it is ridiculous how people sing praises of the is exchange with high gas fees, it doesn't make sense why a dex should have such high fees, am not a fan, not now not never 

This affected so many investors trying to buy coin during the Defi hype period, that's why most of the project falls in to bsc smart chain for an easy charge, ethereum blockchain is demanding huge charge for a transaction this time, $15 which is equivalent to what some low dude can't afford.

This not surprising this time, ERC20 tokens have a huge transaction fee. Most bounty hunters are complaining about this one, that actually hard for them when their token just valued at $40 (for example) and have to pay for $10-$15, it is a big loss for them. Really disappointing but they have no choice this time if they want to sell/swap it, they have to sacrifice some bucks in order to get money from hunting.

[susuberuang]

The thing that I'm worried about the am already happening now where the cost of uniswap transactions be very high, this making the bonty honter suffer a lot, get disappointed and complain a lot, because of the profits and transaction costs is almost the same, this is clearly detrimental to small traders, like the uniswap, not for small traders at the moment, and I think if the management does not make corrections to this problem, traders who use the uniswap will leave Etherem and move to another platform, if this happens I believe the popularity of ETH will decline,

[TastyChillySauce00]

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

BSC fee's are the only posivie thing that go into BSC favor. Rest is not.
Fundamentally, BSC is crap, and within a month or two, ETH fee's will come down, and BSC will be dead like xdai and matic

Couldn't agree more, the fact that BSC centralized is supposedly to keep people who concerned about the idea of crypto in the first place from moving over to it if they could grasp that centralized means CZ gonna be the supreme lord which has authority over this blockchain.

Until this day I keep wondering why most of people choose to migrate to BSC than to other decentralized smart contract platform. I know the migration to BSC is simple but it's still better to move over the same decentralized blockchain than to centralized ones.

[galestorm]

I havent tried uniswap before. I was planning on swapping my coins on that network but based on your post, maybe i'll pass. Nowadays transaction fees are really expensive, which doesnt make up for the amount of coins that small traders have in their digital wallets. Too costly for my opinion and not worth to transact. That's why others bulk up the amount of coins that they have just so the fees paid would be worth it. Im currently searching for a network that is perfect for bounty hunters and small investors that have affordable transaction fees.

[ven7net]

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're right! The story around fees on the Ethereum network is already beginning to stir and cause distrust. When I saw how much commission fees to pay on Uniswap, I wondered if Ethereum developers really think that with such commissions they will have more users? As for me, they, on the contrary, are losing ETH holders every day, and many projects are switching to other blockchains. This is all very bad for our community and would love to see this problem resolved as soon as possible.

[mdzahed134]

It's not worth it anymore to use defi platform with ethereum network. Due to the gas fee, it is only for the whales. Also I never use uniswap anymore since the first time I use it and they charged me more than $10 for approval.
If you have 10 tokens with each value no more than $100, I recommend you to just wait patiently for exchange listing to sell all of them.

Also i didn’t used Uniswap exchange when it’s entered in the market, actually when i was no coins which need to sell in this exchange. Provably it’s fee was quite high from first time but now it’s extremely high. It’s now the rich people’s exchange. I awaiting to sell a coin which now listed in Uniswap but i'm looking for a new exchange.

[Traderbtcc]

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

$50 to $80 per trade? wow I could probably use that x1000 to pay trading fees on a CEX or swap on a DEX that runs on BSC alot of times before I would need another gas fees, these high gas fee on Ethereum Network is a big problem, but even though the solution is there ETH 2.0, it seems there are some procedures it has to go through before it's been implemented cause it's a decentralized community, with that said, I don't think Uniswap should move over to BSC, remember BSC is just like a prototype of Ethereum Network,I don't see any need to move over because ETH 2.0 will solve all the current problems ETH network has now.

[btcltcdigger]

Couldn't agree more, the fact that BSC centralized is supposedly to keep people who concerned about the idea of crypto in the first place from moving over to it if they could grasp that centralized means CZ gonna be the supreme lord which has authority over this blockchain.

Until this day I keep wondering why most of people choose to migrate to BSC than to other decentralized smart contract platform. I know the migration to BSC is simple but it's still better to move over the same decentralized blockchain than to centralized ones.

Human greed basically. Lately, there's been dozens and dozens yield farms popping up every day on BSC, because it's so cheap.
And greedy people are flocking like flies to shit on them. And guess what, most of them are rug pulls

[devollito]

Uniswap transactions take two swap, Token - WEYH- ETH and this is what makes people pay more when they exchanges the token with uniswap, and this is hiw uniswap community taking profit, but it is good for liquidity of the token on it. If you did this at pancake swap it will not charge you that high because Binance smart chain fees is not high as ethereum fees.yhe problem is not on uniswap but on the ethereum network fees.

[carrie_white]

yes I agree with you, the uniswap gas fee are insane, the lowest cost is 50 $, very not worth it, therefore I use other alternatives besides eth, I use polkadot and binance, I'm sure polkadot and binance can shift eth position if it continues like this

[asriloni]

yes I agree with you, the uniswap gas fee are insane, the lowest cost is 50 $, very not worth it, therefore I use other alternatives besides eth, I use polkadot and binance, I'm sure polkadot and binance can shift eth position if it continues like this

I'm not sure that will happen. When you are having your tokens that only available on ethereum chain and what will you do? do you wanna abandon your token there? That's why ethereum chain is still active right now.
It may need until last year for this problem to be fixed.

People are being forced by the situation if their assets were still using ethereum blockchain. The uniswap is still used by so many people.
It looks like the binance and polka users will still use ethereum too.

[criket]

yes I agree with you, the uniswap gas fee are insane, the lowest cost is 50 $, very not worth it, therefore I use other alternatives besides eth, I use polkadot and binance, I'm sure polkadot and binance can shift eth position if it continues like this

I'm not sure that will happen. When you are having your tokens that only available on ethereum chain and what will you do? do you wanna abandon your token there? That's why ethereum chain is still active right now.
It may need until last year for this problem to be fixed.

People are being forced by the situation if their assets were still using ethereum blockchain. The uniswap is still used by so many people.
It looks like the binance and polka users will still use ethereum too.

when those ERC tokens don't decide to swap to another chain then that obviously won't happen.
UniSwap users will continue to exist on the ethereum network. we can't fight back, this is what happened until now.
he said the improvement was in the middle of this year, so I think all ethereum chain users must be patient with this urgent situation.
what makes people really angry is when they see their token price go up but can't pay the exorbitant Gas fee.
because so far I have seen several transactions on Uniswap now dominated with large values. obviously, it's not a user of a bounty hunter or airdrop.

[doomloop]

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

ETH is carrying a lot and I think that’s what’s causing the fees to be this year, plus the bullish trend, so it’s going to be high. A lot of people has been complaining about this same thing that has been happening for a long time and it seems there is nothing we can do about it than to keep on waiting for the ETH 2.0 till it’s released, and we don’t know for how long.

I noticed some people started making use of the TRX (Tron) coin, seems like it’s the best now for transactions as I am now seeing a lot of people who are using it. Bitcoin can’t be the next option since it is also experiencing the same high fees as Ethereum has been going through, and I think this is going to continue for long, I guess until the bullish trends are over and it will all stop happening.

[mdzahed134]

It is killing the small time traders and bounty hunters. If you were paid in a bounty having a 100$ worth and the eth gas is in 20$ or so + after exchange the withdrawal fee is much likely to be that high. Lucky are those who have big trading portfolios.

Indeed, small traders will never go to trade here with small amount of money because fees may be higher than their initial investment. It could be when bounty hunters have no any other way to sell their tokens. You can't swap by 20$ if you considering minimum fee, i have been swap a token after paid, 70$.

[MUG1WARA]

With the price of Ethereum this high, I can only imagine how much gas fee it will cost to make a simple transaction on Ethereum blockchain, Binance Smart Chain is an improvement of Ethereum that's why the gas fees are lesser there, lately Ethereum has been loosing so many projects to Binance Smart Chain since gas fees are alot more cheaper, they don't want their investors to be scared of investing because of high gas fees.

[donatello345]

Well, it was already necessary to get used to it, of course it is difficult to get used to such commissions. Especially when you need to make an exchange for a few dollars, and the commission is 10-20 times more expensive than the exchange amount.

But this is because of the high price of Ethereum.

[mrjoy15]

I had uniswap experienced and until now it was an expensive learning. I lost my valuable ether with this stupid exchange. I was trapped but released this problem when I moved pancakeswap. I learned my lesson and you guys need to do your homework before moving your crypto around.