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RIFAT001
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October 11, 2021, 06:10:05 PM
 #1

Over the last few days, I have faced many problems while transacting a few tokens. Even after I repeatedly deposited in a few wallets, at one point the transaction was going to stop. That is what is in Uniswap. I have deposited 20$ due to additional fee. But the fee needs to be above 50$. So has been interrupted to swap a few times. Currently I think the Ethereum platform is the most expensive. What do you think?

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October 11, 2021, 07:05:19 PM
 #2

These days I try as much as possible to avoid the Ethereum network. Ethereum is a wonderful blockchain, what with it being a DeFi torch bearer, but its just too unwieldy to transact. With insane transaction fees, I can't touch Uniswap or Sushiswap with a long pole. Between has to fix this platform, or sale the competition would eat it alive

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October 11, 2021, 07:07:04 PM
 #3

Over the last few days, I have faced many problems while transacting a few tokens. Even after I repeatedly deposited in a few wallets, at one point the transaction was going to stop. That is what is in Uniswap. I have deposited 20$ due to additional fee. But the fee needs to be above 50$. So has been interrupted to swap a few times. Currently I think the Ethereum platform is the most expensive. What do you think?
Yes, trading ethereum tokens on the decentralized exchanges are the most expensive one than others, if you want to make the trade to happen then you have no other choice than spending the required fee but if you are someone who is not ready to spend that much as fee but don't care about the KYC then there are some good centralized exchanges are available for cheapest trading experience.

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October 11, 2021, 07:09:53 PM
 #4

Over the last few days, I have faced many problems while transacting a few tokens. Even after I repeatedly deposited in a few wallets, at one point the transaction was going to stop. That is what is in Uniswap. I have deposited 20$ due to additional fee. But the fee needs to be above 50$. So has been interrupted to swap a few times. Currently I think the Ethereum platform is the most expensive. What do you think?

Unfortunately, there are times when the Ethereum fee on Uniswap is higher than $50 .. I had a situation once that it exceeded even over $70 level.
The popularity of Ethereum make that it has more and more users and hence such a high fees.
This is also why so many projects using Binance network have appeared.
Hopefully things will change when Ethereum 2.0 is introduced.

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October 11, 2021, 07:15:44 PM
 #5

Over the last few days, I have faced many problems while transacting a few tokens. Even after I repeatedly deposited in a few wallets, at one point the transaction was going to stop. That is what is in Uniswap. I have deposited 20$ due to additional fee. But the fee needs to be above 50$. So has been interrupted to swap a few times. Currently I think the Ethereum platform is the most expensive. What do you think?
Yes, very expensive lately. But what can we do to reduce the fees? we have to wait until the network shows a cheaper gas fee so that we're going to have a transaction that won't be that have much fee. But doing this will require you to be patient because it will take you sometimes an hour or two before you see the drop in the gas fees. So, if you're not in a hurry and you want to pay for cheaper fees then that's all you need to do until ethereum developers do something about it.

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October 11, 2021, 08:39:03 PM
 #6

Make sure your ETH transaction is worth it e.g use 3-5$ to transact 150$ and you won't feel like you are at loss, don't send 40$ with 6-7$ that's not cool and always watch out for gas fee before making a transaction, use website like ethgas.watch to track fee

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October 11, 2021, 08:44:17 PM
 #7

Indeed these days the fees on ethereum back become expensive such as before looks like the latest hard fork doesn't give any impact at all in the terms of network fee. Even today the fees are approximately $10 without additional tax fees from the third party such as uniswap, due to it nowadays I prefer to avoid doing many transactions in a short time unless it necessary to do.


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October 11, 2021, 08:55:55 PM
 #8

Before making a transaction or swap a token on uniswap you should check the gas fee. You can check it here https://etherscan.io/gastracker.  Then you will understand how much fee you need. Because if you deposit the fee in your wallet again and again, $5-7 will be deducted as transaction fee each time. This will increase your cost.

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October 11, 2021, 09:20:50 PM
 #9

Gas fees are not fix so expect for its price to continue to rise during the market up trend.
This has been the problem with ETH network, and yes its the most expensive so far and I do also have such experience the worst thing here is that after paying the required fees, the transaction will not process because the system will tell you that you do not have enough gas fees, I wasted a lot of money because of this.

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October 11, 2021, 10:16:42 PM
 #10

Over the last few days, I have faced many problems while transacting a few tokens. Even after I repeatedly deposited in a few wallets, at one point the transaction was going to stop. That is what is in Uniswap. I have deposited 20$ due to additional fee. But the fee needs to be above 50$. So has been interrupted to swap a few times. Currently I think the Ethereum platform is the most expensive. What do you think?
Trading ethereum tokens on decentralized exchanges is the most expensive compared to others, if you want the transaction to happen then you have no choice but to pay the required fee. And Unfortunately, There are times when Ethereum fees on Uniswap are higher than 55$. I had a situation once that it exceeded even more than 80$.The popularity of Ethereum makes it more and more users and hence such high fees.I always hope later this year when ETH 2.0 coming out will somewhat improve the current gas because it is too expensive compared to the coins on the ERC -20 ecosystem that we own and it is very difficult to move.

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October 11, 2021, 10:27:26 PM
 #11

(....)
Currently I think the Ethereum platform is the most expensive. What do you think?
Yes, it is, even though how expensive the fee is, there are still a lot of people using it. So if your funds are not quite huge that you will get rekt by just on fees, try to find other alternatives of Ethereum, I believe that these days, Ethereum is for whales only.
By the way, about the gas fees on Ethereum, you can try to use the gas tracker from etherscan: https://etherscan.io/gastracker . By using that, you may find how much is the estimated cost for every transaction based on the different gas you set.

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October 11, 2021, 10:31:47 PM
 #12

What do you think?
You need to prepare lots of money just to swap on uniswap. You must put additional funds to make your transaction will be running smoothly and it will be approvind by the block as fast as possible. You're correct about your statement if ethereum was the most expensive platform right now. It will not worth for small traders like you to trade on ethereum and its dex. You must have spent two digits just for the fees and sometimes it was increasing to the three digits.
Ethereum was the first smartcontract platform and the calculation that already made by ethereum developers about the blocksize didn't meet their expectation as it's not enough to be used for the mass adoption. Currently ethereum was the expensive one and that was forcing small traders migrate to the competitor like binance chain and polygon which was offering cheapest fees than ethereum. This must be solved or more people will be going out from ethereum. I can't deny the fact people have been starting to use ethereum as a store of value just like bitcoin.
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October 11, 2021, 11:33:21 PM
 #13

Gas fees are not fix so expect for its price to continue to rise during the market up trend.
This has been the problem with ETH network, and yes its the most expensive so far and I do also have such experience the worst thing here is that after paying the required fees, the transaction will not process because the system will tell you that you do not have enough gas fees, I wasted a lot of money because of this.
This is the problem that we can't do nothing about it but just wait for a reduction in gas fees that may possibly happen when ethereum 2.0 takes place. It's either you continue using it or stop transacting with ethereum network as i believe only rich users can afford its high gas fees. And since the developers have not come to fix it properly, so i guess you're right that this gas fees at the present will certainly increase in the days to come. But despite all this issue, ethereum network is still the top's choice for a lot of users.




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October 11, 2021, 11:52:22 PM
 #14

Over the last few days, I have faced many problems while transacting a few tokens. Even after I repeatedly deposited in a few wallets, at one point the transaction was going to stop. That is what is in Uniswap. I have deposited 20$ due to additional fee. But the fee needs to be above 50$. So has been interrupted to swap a few times. Currently I think the Ethereum platform is the most expensive. What do you think?
you don't say ?!! Ethereum became a platform for the rich because of those high fees, if you're willing to swap few bucks like $50 or $60 you won't get anything from that, it is not for poor people and small transactions, i can't use it anymore especially to swap tokens on Uniswap or others, sometimes i use it to send a token to an exchange and i barely can do that without getting finessed with high fees.

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October 11, 2021, 11:58:57 PM
 #15

Over the last few days, I have faced many problems while transacting a few tokens. Even after I repeatedly deposited in a few wallets, at one point the transaction was going to stop. That is what is in Uniswap. I have deposited 20$ due to additional fee. But the fee needs to be above 50$. So has been interrupted to swap a few times. Currently I think the Ethereum platform is the most expensive. What do you think?
I feel you because I also waiting when the gas fee drops below $5 to transfer my coin into exchange but it seems it's impossible to happen.
The gas fee isn't permanent, it also fluctuates the same as the price of the Etheruem, the same as what I have done, I'm looking for perfect timing when the gas fee reduces too much.

You can monitor it here, https://etherscan.io/gastracker.
Currently, Uniswap has an estimated cost of transfers and interactions fee, it's currently $70 for the low transaction cost.

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October 12, 2021, 02:07:02 AM
 #16

You can monitor it here, https://etherscan.io/gastracker.
You can check it with other websites

https://ethgasstation.info/index.php
https://ethgasstation.info/calculatorTxV.php
https://ethgas.watch/

Monitor GAS price is not enough because sometimes your transactions can be stucked on the network if suddenly the network has big changes. You will have to cancel or replace your transactions.

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

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October 12, 2021, 02:19:39 AM
 #17

This is one of the reasons why the users and developers of ETH are going away and doing new projects. Many people are collaborating and creating new chains, and they are faster and better than ETH. It's just that ETH is like the BTC of contracts. It's the starter of that, and it has paved the way to development and making faster and better technology.

Many people are surprised with how much it can be but do not know how much you know the network is valued. It's not wise to transact at such a high rate, but people are using it because of its applications.

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October 12, 2021, 02:30:37 AM
 #18

This is one of the reasons why the users and developers of ETH are going away and doing new projects. Many people are collaborating and creating new chains, and they are faster and better than ETH. It's just that ETH is like the BTC of contracts. It's the starter of that, and it has paved the way to development and making faster and better technology.
One of the developers, co-founders of Ethereum, Gavin Wood left Ethereum project and created a new project that can be Ethereum killer, Polkadot and Kusama.

Price of $DOT is lower than $SOL (Solana) but the potential of Polkadot is bigger than Solana. I think the ecosystem of Polkadot will be the real and biggest competitor of Ethereum. Solana is not. Another big competitor of Ethereum is Binance Smart Chain.

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October 12, 2021, 02:35:08 AM
 #19

Price of $DOT is lower than $SOL (Solana) but the potential of Polkadot is bigger than Solana. I think the ecosystem of Polkadot will be the real and biggest competitor of Ethereum. Solana is not. Another big competitor of Ethereum is Binance Smart Chain.
Let's not talk about price because SOL has already taken the lead on it. So why is it that SOL has the market but not DOT? Or is it already finished? Can you elaborate more on why it can be the Ethereum killer? I have been looking for something that I can invest in for the long run instead of just BTC. I have known DOT for quite some time but have not yet invested in it.

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October 12, 2021, 03:27:21 AM
 #20

Ethereum network is over-rated and needs to stop their nonsense if they wanted to keep their investors happy and contented with their service because it's almost every day or every week's people are not satisfied with what they are saying just for mere transaction fees. If you ponder on some other network, BSC and MATIC are better especially MATIC where there's almost nothing to pay for when doing transactions. People will switch to this available network if they find some way to use it as an alternative to Ethereum Network.

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