insane fees on eth (uniswap)

[udayantha11]

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

[1714800138]

1714800138

[bittick]

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 is an improvement version from ethereum in term of scalability. that's why BSC cost less compared with ether and it will be easily to be adjusted consider BSC was totally a centralized chain.

Approve means you re giving permission to the swap to access your asset and then swap means your asset being swapped into the destination asset.
The solution for this problem already created but again since ethereum decentralized and it can't be implemented easily.

[udayantha11]

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 is an improvement version from ethereum in term of scalability. that's why BSC cost less compared with ether and it will be easily to be adjusted consider BSC was totally a centralized chain.

Approve means you re giving permission to the swap to access your asset and then swap means your asset being swapped into the destination asset.
The solution for this problem already created but again since ethereum decentralized and it can't be implemented easily.

you are extremply explained it. i will research more. you answer is very good

[semobo]

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

Binance smart chain is an individual chain and yes it can be an alternative to the high fee but every project need to swap their tokens to BSC chain before you can transfer them for cheap price but ethereum is decentralized while BSC is completely centralized as far as I know so we can't really trust them in long term.

[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.

[Little Mouse]

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.

[batang_bitcoin]

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

2.0 is already coming but there's no definite time when it will be finished. Wait until July, there's the improvement that Vitalik has proposed abou the EIP 1559.
I wonder why you are paying that much fees just to pursue the transaction if you can set it to the lower amount. Maybe that's the fixed amount that will accelerate your transaction. I've done a transaction and have to pay around $5-$10 and it has quickly got the network confirmation for Ethereum.

[acener]

Because of the insane fee on ETH even though I don't want to hold my balance on trading site it is the best option for me if I want to hold some erc20 tokens.
I don't want to spend most of my investment on fee's I am just a small time trader so if I want to take out my money on trading site it wouldn't be on ETH or any erc20 tokens.

[someone703]

This is too familiar when using the services on ERC20, the advice for you is to limit small transactions if it is not profitable for you, do not trade because it only makes you lose money add crazy fees. Choosing BSC is a better solution in the meantime.

[JooBra]

This is too familiar when using the services on ERC20, the advice for you is to limit small transactions if it is not profitable for you, do not trade because it only makes you lose money add crazy fees. Choosing BSC is a better solution in the meantime.

Hope the solution they come with will be good since this is killing small traders. Fees are crazy. I'm small trader and all my trading is done on Binance for now since ERC20 tokens on UNI are not in the reach for me now.

[DoublerHunter]

^ We can think that this ETH network and using ETH is for rich people only. I have many tokens that listed on uniswap below $100 but I can sell them all because of the huge fee, probably around $15-$20 including all the fee, it means if we don't have a balance in our ETH wallet we need to transfer fund for the gas fee purpose. That is double the cost while you are covering the fee. Let us try this BSC, this was built because to compete with the gas fee of ETH and hopefully we will see results on V.20 of ETH.

[wheelz1200]

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

Simple solution dont use it.  Its absurd the fees are that high i agree.  Uniswap is swamp of coins anyway.  You can do just as well on other platforms and not be extorted to pay.

[Cappex]

The problem of exaggerated commissions is a big limitation of ethereum that we hope will be solved with ETH 2.0... Binance has managed to emerge in recent months precisely because its binance smart chain is more scalable, but I do not think it is the definitive solution because I believe that it is too centralized.
I am confident that other solutions will come (Cardano and Polkadot seem to work well) and I have been following Graphene for months, a new project by Team Phore that has been promoted to high scalability.

[Dollar_Hunter]

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

[makishart]

This is too familiar when using the services on ERC20, the advice for you is to limit small transactions if it is not profitable for you, do not trade because it only makes you lose money add crazy fees. Choosing BSC is a better solution in the meantime.

Hope the solution they come with will be good since this is killing small traders. Fees are crazy. I'm small trader and all my trading is done on Binance for now since ERC20 tokens on UNI are not in the reach for me now.

It may not come very soon as there were so many dramas for the implementation of this EIP. You can't expect this will be fixed as soon as possible.
Did you watch the latest drama from the miners that the majority of these miners disagreed with the implementation of EIP1599?
POW is a crap and it was even preventing the blockchain to be upgraded.

[DaMut]

On the positive note because of this insane fees, we are hardly to see an obvious scam project unlike binance.
just a few hours ago I played with it and found 5 scam projects out of 6.
if you are really going into it, it is advisable to know what you are doing because the scam is very common in binance chain.
still love eth but the fee scares me quite a bit, not sure when eth 2.0 can go live.

[Johnyz]

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.

[Dollar_Hunter]

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

it is crazy fees from Ethereum, somehow people can trade at Uniswap even though the fees for swap are already very expensive,
why are they still used? I am surprised, even though there are many cheap smart contract platforms that can be used,
such as Stellar, EOS, NEO or BSC, Just imagine that the fees for one swap at Uniswap reach $ 80 ?, haha really cruel!

[FairUser]

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

Well many users are starting to get bored using services on ERC20 and incur stupid fees. And personally I also find it really stupid to make transactions that incur fees of $50 $100, I would never do that and wait for the fee to drop is the way I choose, but If the coin that I am holding is highly profitable than accepting such fees is not too big for me.

[terciduk123]

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

Many people have complained about this problem, but Uniswap still has a high trading volume, I don't really understand why there are still many people who trade at Uniswap with very high transaction fees. maybe later Uniswap will find a solution to this problem and later will be Uniswap V3 which is more user friendly.