insane fees on eth (uniswap)

[bitcon]

People are increasingly disappointed in Ethereum or rather in the inaction of its creators. I believe that Ethereum has grown so high only thanks to retail users. Now with worldwide recognition, is the development team targeting big investors only?

People can completely lose confidence in the network and go to places where they offer more convenient conditions for cooperation. Ethereum team should think and start doing something.

[1714751992]

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[1714751992]

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[1714751992]

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[coin-investor]

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

I stopped trading on Uniswap because I have a similar experience like yours 70% of the value of my coins has been taken out on one transaction only, so all the coins the tokens I received in the bounty are stuck to my wallet as I have no Ethereum to use for gas and still waiting for the time that the core developers fix this issue, I just hope all my tokens will not turn into shitcoin.

[Renampun]

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

This problem has been discussed for almost a year and is still without a solution...
Swap platforms usually have high gas fees because many of them also farm there. If the coin/token you want to exchange is another exchange option then just choose another exchange, don't uniswap.

[tvplus006]

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

You can't blame the high fees solely on the Ethereum network.  1inch Exchange has released a new update that reduces the amount charged for the swap commission. Thus, the commission charged by 1inch is now 10% lower than for a similar transaction on Uniswap and 3.5% lower than on 0x Protocol.

[Ibrahim60]

In uniswap transaction fee is so much high. They take fees two times. First you need to confirm it and need to give fees and next in the final stage withdraw. Also need high fees. Though their transaction speed is fast but gas fee is much higher. I don't know why it is damn high. I'm confirming a token to swap but i can't withdraw it for withdraw fee. This is a sad thing for all small trader.

[tvplus006]

In uniswap transaction fee is so much high. They take fees two times. First you need to confirm it and need to give fees and next in the final stage withdraw. Also need high fees. Though their transaction speed is fast but gas fee is much higher. I don't know why it is damn high. I'm confirming a token to swap but i can't withdraw it for withdraw fee. This is a sad thing for all small trader.

You have answered your own question: the price of transactions on Uniswap is higher than the average on the network due to the fact that an increased commission is charged, which ensures the speed of transactions. You have answered your own question: the price of transactions on Uniswap is higher than the average on the network due to the fact that an increased commission is charged, which ensures the speed of transactions.

[jerry0]

Are you talking about the exchange uniswap?  If so, im confused because i thought you pay a percentage only like coinbase/bitstamp etc?  Or do you mean when transferring from wallets?

[Bazlur]

One thing I don't understand is why I need to get approved when I want to swap on Uniswap? I think it's a trap to steal our money. Most of the tokens are being listed in this exchange after deducting a lot of money from the customers in such exchanges. Project owners are just thinking about themselves and not thinking about what will happen to others.

[ShowOff]

I did a small swap $220 ETH, but after giving the fees I only received $161  worth of the token I swapped for. Uniswap trading fees kinda ridiculous and this is not expected. Nowadays it's too much to handle the crazy gas fees. It's not worth using for small traders.

If you don't like uniswap just because the transaction fee are so high, don't use uniswap. Uniswap is not for those with a low estimated asset value, at least you should make a profit after you agree to the fee. Easy enough, right?

I think people shouldn't use uniswap if they don't agree with high fee and they can trade their altcoin on other listed exchange. I even firmly believe that uniswap is what make the ethereum fee so expensive.

[Yamifoud]

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

We are looking for a better way to save some fees but as a certain coin that only listed in uniswap, we find no choice but to pay for it or else, we don't. Just like if the value of your coins is $1,000 and need to pay $100 is still acceptable (for me) but if that only valued below $500, I don't know? It is really an insane thing but sometimes gives us no choice and we have to do it.

[Dhoe]

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

This happen on which coin we have right now, if market only on Uniswap what have to do because we must trade and sell coin on Uniswap, but if you can get your coin listed on BSC exchange like binance or pancake you can get less fees or only 0,2$ each transaction when selling or buying coin.

[Coin_trader]

Are you talking about the exchange uniswap?  If so, im confused because i thought you pay a percentage only like coinbase/bitstamp etc?  Or do you mean when transferring from wallets?

He was referring to the transaction fee from ETH wallet to Uniswap. Uniswap has a required amount of transaction in able to process the swap. You can’t swap your tokens using the suggested transaction fee of ETH. This transaction fee and exchange fee is what comprises the fees which OP talking about on this topic. Experience it by yourself to have a fully grasp on it.

[bobyhodob]

It seems that if you are not too pressed to use Uniswap as a buy token, I better play on the Binance Smart Chain platform which is a bit cheaper in fees

[Hasan986]

Uniswap charges extra. Much more that can be caught. I sold a coin and got 60$. Calculated that the total fee is 50$. Uniswap does not want to trade from there for a hefty fee. Finally, i see loss is calculated for the fee.

[Mtaiwo]

me too am tired of this crazy gas fees, what we just need is to endure till solution is find to it, and if the you want to do worth it, you can do it. just like me have not conduct any transaction since last year december.

[nimogsm]

I just don't use the service because of the high commissions,always looking for alternative ways to sell if there are any.There is no desire to overpay once again.

[tyz]

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 can not compare the ETH network with BSC network.

I agree with you, ETH desperately needs huge improvements in scalability. But these will not be really achieved with ETH 2.0. The fees will drop a little, but still remain comparatively high, so the issue of high fees will remain for a while longer.

[Maslate]

I just don't use the service because of the high commissions,always looking for alternative ways to sell if there are any.There is no desire to overpay once again.

Actually, it is a thing we do but OP didn't find any exchanger for his token and that leaves no choice either, he has to sacrifice the fee or just lose that price opportunity. Because if I am in his situation, I should still have to sell/swap it. But of course, we consider first also the value of the token (total price) versus the fee collected. If that we are still profiting why we should have to wait for the fee to lower down? This is just an opportunity, I don't know that if it knocks you again in the future.

[virasisog]

BSC aimed to solve ETH platform's problem which is high transaction fees. This had been ETH's problem since the DeFi hype started, I've lost some of my tokens where swap is needed due to this high fees. Imagine holding about less than a dollar token and the team requires swap in a certain time but you will have to pay the fee for the swap, microtransactions are not viable and it is not economic.

[gurunanakji777]

Yes, Binance smart chain is much better than Uniswap because of fewer transaction fees. If the total fees reach 50-80 USD that means small players can not imagine trading on Uniswap because of high fees. It should be within some limit. Let's see what happen when Eth 2.0 launch but at present BSC is a good option to trade. If the gas fee is continuously high in Uniswap small traders will be away from Uniswap and we must know the small traders are much higher in no as compared to big traders. I want to sell my coins listed on Uniswap now desperately waiting to list my coins on other exchanges so that I can sell and save the high fees.