insane fees on eth (uniswap)

[onecall123]

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.

Yeah it's getting ridiculous. Ethereum GAS Fees are unacceptable and also unbearable in terms of micro transactions. Time is moving too fast, but unfortunately until now we're far away of getting cheaper and fast transactions. Binance smart chain is here to rescue us from ETH platform's problem. Ethereum suffers, but BSC will replace.

[1713889615]

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[1713889615]

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[TopTort777]

Lol. Topic about fees created on March 17 2021. Where have you been buddy in last 3-4 months? Fees has been like this already for a long time. Just get used to it. Or try to catch “a bit lower fees on saturday/sunday nights”.

[Teraboy]

but the selection of projects is still small, it also needs time to grow big.

It's caused by BSC was still a new platform and it has no big community like ethereum. The majority of various tokens were still centralized on ethereum chain and that makes people have no choice rather than still use ethereum as the chain to trade their tokens.
Anyswap will always need approval from the users and it will be interated with the smartcontract to call a function to swap the token.
BSC and Ether have almost the same mechanism.

[TastyChillySauce00]

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.

Definitely, microtransaction isn't ethereum's thing as of now same with bitcoin I suppose, it's only worth it if we have more than $300 not to mention how volatile eth gas price was it's like gambling when we trying to send a transactions within eth blockchain. but july is near so hopefully the devs of eth can prove their words.

[Kelvinid]

and to make it worse many and many projects still creates token inside etheruem blockchain like dude, aren't there any smart contract platform out there other than ethereum.
 it really grind my gear lol and to cope up with that I just don't really touch ERC20 token like again, this one coin just making me poorer and poorer for each transaction executed.

I don't understand why that still is. And come to think of it, the Ethereum team will continue to ignore this issue or not respond to it as quickly as they ought to because of new projects keep developing on the network. If it where that there is some significant shift from them, then maybe they could have look at this problem swiftly but lets see how far we go with this.

Their plan to launch ETH2.0 this July as their propose solution to high fees but can't be sure if that will launch as schedule or not. And be sure if that will become effective.

Really disappointing how the situation goes like this and Vitalik don't have any update for their status in regards to ETH2.0. People have come to think that Ethereum developers don't care about this issues, yeah, it is obviously we don't see any. And even they have a solution but this never give the comfort to everyone. Why? because they are dumb to late to make actions and many traders and investors had suffered already.

[matchi2011]

and to make it worse many and many projects still creates token inside etheruem blockchain like dude, aren't there any smart contract platform out there other than ethereum.
 it really grind my gear lol and to cope up with that I just don't really touch ERC20 token like again, this one coin just making me poorer and poorer for each transaction executed.

I don't understand why that still is. And come to think of it, the Ethereum team will continue to ignore this issue or not respond to it as quickly as they ought to because of new projects keep developing on the network. If it where that there is some significant shift from them, then maybe they could have look at this problem swiftly but lets see how far we go with this.

They are still getting support and there are many traders who are not minding this fees they are capable in paying that insane amount
and just continue doing business using this chain.

The team will continue to ignore as there's not much impact to this chain, unless many developers will switch and and use other chain
for transacting might force the team to think of this fees.

[dhemasm]

Well, Ethereum gas is really high and if you do trade on uniswap it will cost that amount which is ridiculous. If you still insist to trade on Ethereum Network especially Uniswap, You can try to wait until Midnight UTC Time, The gas fee was much lower on that time (60-90 Gwei) but it's not efficient right? Then you can use BSC or maybe some Layer 2 Exchange or Network like 1Inch or Matic network. Well, let's just wait until ETH 2.0 launched or EIP-1599 Implemented.

[dihari]

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.

[zasad@]

Well, Ethereum gas is really high and if you do trade on uniswap it will cost that amount which is ridiculous. If you still insist to trade on Ethereum Network especially Uniswap, You can try to wait until Midnight UTC Time, The gas fee was much lower on that time (60-90 Gwei) but it's not efficient right? Then you can use BSC or maybe some Layer 2 Exchange or Network like 1Inch or Matic network. Well, let's just wait until ETH 2.0 launched or EIP-1599 Implemented.

To use BSC or Layer 2 Exchange you will have to pay a commission on the Ethereum network.
If you have $ 100 worth of tokens, then you will pay $ 40-50 in commissions anyway.
Then it is probably easier to pay a commission for transferring these tokens to a centralized exchange at a time when the cost of gas is low.

[MatchPS]

The fees are really getting out of hand. I'm afraid that the fees are going skyhigh and that 'normal' dont swap or buy ETH anymore. ETH is a coin for rich people in the future. This is really bad because trading on the Binance chain is really cheap so alot of coins are migrating to binance because of that. SO ETH FIX THIS PROBLEM...

[btcltcdigger]

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

[tvplus006]

This is one of the problems of investors as well as holders of altcoins and they are looking for a solution on how to save on the gas fee because the eth gas fee is now too high but if the eth 2.0v ends there is a chance that the gas fee will fall and you can transfer altcoins again now, all you can do is hold first.

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.

[Koro-Sensei]

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.

[deathcode]

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.

The ones doing the transactions now are of course those who have big trades.
if we look at token trading on uniswap. apart from high transaction fees. most transactions are of great value. that is because if they transact with a small value it is clear that they will only be thrown away for a fee.

[makishart]

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.

It was killing all of the little shrimps that used ethereum service as you can see that there are bunch of complaints about that and that has proven that if uniswap is not worth anymore to be used by the small traders.
two digits fees for a single swap transaction and that's more than crazy.
Even the big traders are also complaining about that dude. The miners were killing this chain

[Bitstar_coin]

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 

[jaberwock]

Lol. Topic about fees created on March 17 2021. Where have you been buddy in last 3-4 months? Fees has been like this already for a long time. Just get used to it. Or try to catch “a bit lower fees on saturday/sunday nights”.

I think people are fed up with it, that's why we keep seeing more and more new posts about it, it is not new but people still want to talk about it and that's the problem, nobody is fine with this, and old topics become huge and get lost, so they start a new one to tell what they want to tell and be seen about it as well. This is why I think it is obvious we could have many topics about this and we will keep seeing these things in the future as well, instead of going against it, we should join in.

I have personally stopped using ETH blockchain, moved fully to BSC and since I made that change I have spent maybe 50 bucks on all of my moves and I make at least a few every single day for the past month, that shows you how cheap BSC can be. I can tell you that it would take me just one approve and swap on a token to pay more than 50 bucks on uniswap if I stayed there.

[bryant.coleman]

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.

As such there is no solution for this. The fee has remained at extremely high level for more than four months now, and the indications are that it will remain like that for for the remainder of this year. I feel bad about the bounty hunters. But they need to look for alternatives. They can contact the bounty manager and request a single ERC-20 recipient address for a large number of hunters. This would make it more affordable to convert the tokens to ETH. Once the tokens are converted to ETH, they can split up the ETH among themselves.

[bitzizzix]

This is one of the problems of investors as well as holders of altcoins and they are looking for a solution on how to save on the gas fee because the eth gas fee is now too high but if the eth 2.0v ends there is a chance that the gas fee will fall and you can transfer altcoins again now, all you can do is hold first.

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 ethereum problem is not far from a gas problem, and it will not affect those with a big advantage because it is worth what it gets and will continue to use it.
In contrast to small traders or anything that has a small income will be a consideration.
I'm sure the gas problem will be resolved soon it just takes time for that.

[Lordhermes]

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.