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Author Topic: TX Cost , fees and gas  (Read 190 times)
NeuroticFish
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January 04, 2022, 09:16:26 AM
 #21

Unfortunately these days people who talk about bitcoin fees seem to have never even used bitcoin. They are either repeating some FUD they read somewhere or are confused about the token they were using in some shitplatform (like WBTC) and had to pay an outrageously high fee on that platform and though they were using "bitcoin" whereas they are using a scam token.

Some don't understand that whatever wrapped bitcoin on whatever chain is not bitcoin.
Some don't understand the difference between the withdrawal fee from an exchange and the tx fee on the network.
And yes, some may read the outdated FUD the bcashers used to be spreading.

But imho screaming "FUD" won't help much. Imho the way to do it is to help them understand, help them learn...
Otherwise tomorrow they'll be screaming that bitcoin is a scam because they've withdrew bitcoin on binance chain and it's not visible in electrum.

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Reid
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January 04, 2022, 10:56:01 AM
 #22

Ethereum - $5 average. Wallet to Wallet. What's hurting is the ERC20 transactions which is difficult to swallow. $20-$25 fees for every transaction.
And, if you are just sending a $5 worth then better forget about it. I have a lot of tokens stuck in different wallet and I cannot even send them back to my main account anymore.
In Bitcoin, I don't have a problem. It's cheaper now than months ago when the price was surging. You just need to wait for the correction if you are aiming for the right price and as long as it's from wallet to wallet and not from an exchange to a wallet. Because those fees from exchange are way different using base amount. 
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January 04, 2022, 01:47:54 PM
 #23

Unfortunately these days people who talk about bitcoin fees seem to have never even used bitcoin.

I'm afraid the number of people claiming to use, invest, hold, Bitcoin etc. is too damn high. Most people who think they're using Bitcoin are either only speculating on an exchange, and have never so much as owned sole control of private keys, never mind signing a Bitcoin transaction, never mind understanding how fees work in any of the different networks they're using.

So they'll never enjoy the truly low fees Bitcoin has been enjoying for most of the years past. Peak network or not, they're paying some arbitrary fee and complaining about the value of Bitcoin being too high.

And no, I'm not being elitist, I'm a simple user. But I actually used to be really optimist about users until you start transacting Bitcoin with a lot of people and they give you exchange and app wallets.

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CryptoWebDirectory
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January 07, 2022, 08:32:16 AM
 #24

Talking about everything 2022 ,BTC tx price, ERC20 and BEP20 tokens.
10-20$ for 1 transactiion fee, even if sending 1$ .

This is why I've pretty much stopped using Ethereum until the 2.0 update is rolled out. BEP isn't nearly as bad. There are times I'll do a BNB transaction on PancakeSwap and it'll be $0.80 or $0.90 which is nothing compared to Ether. Even now in 2022, I don't think tx fees on BEP tokens will get too crazy, especially not if Ethereum completes the 2.0 update.

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Zanab247
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January 07, 2022, 09:06:07 AM
 #25

Many investors prefer any coin that has low fee than the one that has high fee like ethereum. Ethereum fee is still making some investors to quit and join bitcoin investment because the fee is low compared to ethereum.
Every investors need a coin that will bring more income into their investment than the one that will cause them so much gas fee at the end of the investment. In this year 2022, I guess ethereum fee is preparing to reduce more than bitcoin to gain more population in the exchange market.

masterrex
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January 07, 2022, 10:15:28 AM
 #26

Talking about everything 2022 ,BTC tx price, ERC20 and BEP20 tokens.
10-20$ for 1 transactiion fee, even if sending 1$ .

Yeah that was the most talk topic in the cryptocurrency forum's and maybe on social media particularly Twitter because Eth transaction fees were too high in the previous months that paved the way for BSC Network to rise as an alternative Blockchain same as Polygon which is cheaper fees even now that the Ether price was declining but still the transaction fees on Ethereum Network particularly ERC20 transfer is high about $18-$22 dollars per transactions.
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January 07, 2022, 10:39:10 AM
 #27

~
Unfortunately, this is our reality and the commissions will probably remain at this level in the future. As for BTC and ETH, if you make transfers within the network, then only on condition that you have a large amount, then it will not be a pity to pay a high commission,
~
BTC and ETH network always get more expensive especially if the price becomes more active and this has been the problem since then that even the ETH developer can’t solve.
It looks like you guys are as outdated as the OP. When was the last time you actually sent BTC or at least checked the transaction fee over the Bitcoin network? I've been sending weekly/monthly using non-custodial wallet and it only costs me under a dollar every time.
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January 07, 2022, 11:56:34 PM
 #28

Talking about everything 2022 ,BTC tx price, ERC20 and BEP20 tokens.
10-20$ for 1 transactiion fee, even if sending 1$ .
The transaction fees of each network are different. Sometimes, I only need a few cents and under $1 to send around $50 in BTC. Or less than $1 to send using the BSC network. But if that is about ERC20, it is higher than other network fees. the fees will range at least more than $4. And we must also have the least amount in our ERC20 wallets of gwei in order to send the transaction to be available.
Aside that, we must also have certain amount of tokens or coins to send, commonly will be minimum at certain alunt.
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January 07, 2022, 11:59:02 PM
 #29

Talking about everything 2022 ,BTC tx price, ERC20 and BEP20 tokens.
10-20$ for 1 transactiion fee, even if sending 1$ .
The transaction fees of each network are different. Sometimes, I only need a few cents and under $1 to send around $50 in BTC. Or less than $1 to send using the BSC network. But if that is about ERC20, it is higher than other network fees. the fees will range at least more than $4. And we must also have the least amount in our ERC20 wallets of gwei in order to send the transaction to be available.
Aside that, we must also have certain amount of tokens or coins to send, commonly will be minimum at certain alunt.

we have different options now today. even usdt, you can send it via TRC20, BEP20 or other networks. just check the fees because every exchange has their own fees. or btc, now you can choose other networks aside from the native network. i was in awe when one of the gambling platforms here enabled the withdrawal of btc via bsc network because the fees are really really cheap. but if you go to eth network, of course they are still expensive up until today.
so now i guess, we are having more options because of these rising new networks. we are not confined with erc20 anymore.

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January 08, 2022, 12:18:57 AM
 #30

...
i was in awe when one of the gambling platforms here enabled the withdrawal of btc via bsc network because the fees are really really cheap. but if you go to eth network, of course they are still expensive up until today.
Transaction fees when sending BTC via the native chain is still more expensive but it isn't that far from BSC as of late. You should be in more awe if they allowed withdrawal of Ethereum or supported erc-20 tokens via BSC since there's a huge difference. That would help you save at least $10 per withdrawal and that's something.
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January 08, 2022, 04:08:19 AM
 #31

Talking about everything 2022 ,BTC tx price, ERC20 and BEP20 tokens.
Have you used segwit before? The transaction fees of bitcoin right now is less than $1. It seems like you have not yet done any research before about the latest transaction fees, right?  You must check it again and the transaction fees for bitcoin is really cheap these days.



10-20$ for 1 transactiion fee, even if sending 1$ .
That's a non sense fees is only happening with ethereum blockchain and as far as i know the rest of blockchains have cheap fees that's why ethereum blockchain is not relevant anymore. Sometimes 1 transactions cost more than $100.People are waiting for the solution but it's not even coming.

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