High gas fee for sending token is still a problem

[JeffBrad12]

The gas fee on Ethereum is crazy and I just don't know how those people trading on it expect small accounts to make money from it, I saw  an account spent $81 to exchange $100 tokens on Uniswap, he should have waited or not make the trade at all because it is a zero-sum game, the only winner hear are the whales, If your portfolio is less than $100k there is no need to use Ethereum network move to other chains and compound your gains

there are some coins airdrop that still outweight the fee needed so someone are just gonna go on and swap their coin despite the massive fee, heck even yesterday it requires $200 for just swapping which is ridiculous yet so many are still doing it because they think at least they still made profit from the swap even though 80% of the profit get eaten by the fee alone.
i recommend to just use layer 2 these days, moreover many of the activities are now moving over to the layer 2 anyway, like nft minting and some meme coins airdrops. but we can't deny the fact that many good quality platform are still fully deployed in ethereum, can't deny that even though some of them already deployed their smart contract in layer 2.

[mdzahed134]

The gas fee on Ethereum is crazy and I just don't know how those people trading on it expect small accounts to make money from it, I saw  an account spent $81 to exchange $100 tokens on Uniswap, he should have waited or not make the trade at all because it is a zero-sum game, the only winner hear are the whales, If your portfolio is less than $100k there is no need to use Ethereum network move to other chains and compound your gains

Because Etherum is very busy network comparing with other chain. But it’s true that ETH transaction fee is very expensive even in this bearish market. I always avoid UniSwap it’s not for small traders, sometimes here swap fee is bigger than your initial token price which is ridiculous. 

[doomloop]

I guess this has something to do with the hype coins that have been lately flying like the meme coins and Pepe coins. The NFTs during 2021 have also made the fees too high, while we're near to the bull run again. There have been projects left and right and developers are quick into making something again that shall gather the attention of many investors. From this, they're making cause for the traffic in the network that results for the fees to be high. While for bitcoin, the fees are high as well and this is ridiculous where you can see almost everywhere that the fees are nowhere to be found but all of them to be crazily high. I'm just thinking positive on this that we're actually near to the bull run.

It isn't specifically caused by hyped tokens or coins since not all of them are released on the ETH network and they mainly support multiple chains, it is pretty rare these days that a token or a coin is only available on a single chain, interoperability has become the new norm for the projects launching in recent times.

The fees on the Ethereum network have always been a problem since its inception, that is the reason why developers decided to switch the network to PoS so that it can process more transactions in less time with lower fees.

[SyndicateLabs]

You are more interested in altcoins and you only know how to use the ecosystem on ETH , maybe you should look at the problem a bit more when we can easily find other solutions with the system. eco has lower fees. I'm thinking if you're FOMOing shitcoins or memes on that system, if that's true then you also need to understand the risk and return you need to accept for your behavior. With the overall return from investing in altcoins I think there are many ecosystems in this space that provide a pleasant experience so you really do your research, dumps from BNB, AVA, DOT, MATIC, SOL,... lots of places to look.

[glendall]

gas costs are not always high, you must be diligent in checking shipping costs regularly so that when costs are lower than previously predicted you can send to exchanges
, shipping costs are always a problem for small traders / coin owners, sometimes the shipping costs are not sufficient when the coins we are going to send are exchanged, thus letting the coins become worthless in the wallet

[Rampagoe004]

You can switch to another network like BNB, MATIC or ADA. They have smooth transaction speeds and low GAS fees. BTC is the mother of crypto but with expensive GAS fees and slow transaction speeds this is a problem BTC needs to solve.

[poodle63]

You can switch to another network like BNB, MATIC or ADA. They have smooth transaction speeds and low GAS fees. BTC is the mother of crypto but with expensive GAS fees and slow transaction speeds this is a problem BTC needs to solve.

It's not possible if your token based on the ethereum network. You must accept it but as long as people are feeling so good move from ethereum chain and they can use what you have suggested as secondary chains to do the transactions.

[FrozenBit]

The increase in Ethereum gas fees can cause many difficulties for cryptocurrency wallet users. The best way to get ready for the bull market and reduce the risks associated with sending tokens from one wallet to another is to approach some Ethereum alternative. For example, consider using other blockchains like BSC, Solana or Polygon, where transaction fees are lower and transaction confirmation times are faster.

Alternatively, you might consider moving your tokens to another version, which is not based on the Ethereum chain. For example on the BSC or on another technology platform like Cardano, Polkadot or Avalanche. This can help reduce the load on the Ethereum chain and help reduce gas fees. Before making any changes, you should thoroughly understand the different blockchains and platforms and make a decision based on the facts and your needs.

[livingfree]

You can switch to another network like BNB, MATIC or ADA. They have smooth transaction speeds and low GAS fees.

As long as there's the option to go with other networks for those altcoins that you're about to transact or send then that's much better.

But AFAIK, still, not all of these altcoins do have supports for their other networks and that's why those that are into ERC20 that has need to pay for the high fee needs to pay the fee.

BTC is the mother of crypto but with expensive GAS fees and slow transaction speeds this is a problem BTC needs to solve.

You don't call gas fee if the transaction is made in bitcoin. And this problem isn't for bitcoin to solve but those altcoins that needs to solve their own scaling issues.

[kesmex]

You can switch to another network like BNB, MATIC or ADA. They have smooth transaction speeds and low GAS fees. BTC is the mother of crypto but with expensive GAS fees and slow transaction speeds this is a problem BTC needs to solve.

Binance and Matic are more favorite than Cardano, I've never even seen some NFT market or DEX platforms use ADA as a fee,
so indeed these two coins are Binance and Matic who will replace Ethereum if Ethereum doesn't fix the gas fee problem,
even though the Ethereum ecosystem used to be far away better and busier than now.

[Joeyp]

Switch to TRON network, TRON transfers ( ~3 each day ) are free. Plus there are various tokens, like Tether USDT in TRON network.

[timoshani]

The gas fee on Ethereum is crazy and I just don't know how those people trading on it expect small accounts to make money from it, I saw  an account spent $81 to exchange $100 tokens on Uniswap, he should have waited or not make the trade at all because it is a zero-sum game, the only winner hear are the whales, If your portfolio is less than $100k there is no need to use Ethereum network move to other chains and compound your gains

Because Etherum is very busy network comparing with other chain. But it’s true that ETH transaction fee is very expensive even in this bearish market. I always avoid UniSwap it’s not for small traders, sometimes here swap fee is bigger than your initial token price which is ridiculous. 

Fee is less in the L2 network, but no one uses it. Therefore, you have to pay the cost of the transaction in the main Ethereum network. But everything is simple here, if it is profitable, and you need to urgently carry out an exchange, then you will still pay. It is a pity that the best times are gone. Now, the developers of any blockchain make money on you. I doubt that there is such a need to pay for the functioning of the network. If everyone refused to carry out such expensive transactions, then the commission would decrease. All this is artificial. Blockchain has become a centralized system, unfortunately. Nakamoto Satoshi's dream is dying.

[carlfebz2]

I have more interest in altcoins than bitcoin because they give more ROI, but we are not in a bull market yet and Ethereum gas fee keeps surging since yesterday, it is fair if you are sending ETH from a wallet to another but the real deal is when you plan to send tokens from a wallet to another, the gas is high and this makes me wonder what will happen in a bull market, because most of my tokens are on Erc-20 chain, what is a good way to be prepared for this?

We do have different blockchain which it isnt really that just focusing on erc20 but cant really be denied that there are lots of projects under erc chain which it isnt shocking that they are really that somewhat

dominating in the market but come in mind that we do have BEP20 which is on binance chain which fees are way too cheap but surprisingly there are still having that huge demand on most tokens sitting on erc20.

Yes, its been a main problem on erc20 on having that huge gas fees on transferring token and this is why most of shit coins or meme coins being created is mostly on binance chain.
You would eventually be able to see and compare it out specially on checking out those DEXe's. Making up some small amount transactions is never been that worth
on which it would really be just that eaten by the gas fees and this is why there are lots of people who had been hating up on making tx on eth chain.

[kamvreto]

~snip~dominating in the market but come in mind that we do have BEP20 which is on binance chain which fees are way too cheap but surprisingly there are still having that huge demand on most tokens sitting on erc20.

Yes, its been a main problem on erc20 on having that huge gas fees on transferring token and this is why most of shit coins or meme coins being created is mostly on binance chain.
You would eventually be able to see and compare it out specially on checking out those DEXe's. Making up some small amount transactions is never been that worth
on which it would really be just that eaten by the gas fees and this is why there are lots of people who had been hating up on making tx on eth chain.

BEP20 is also quite cheap but try to use the MATIC (POLYGON) chain, it will be cheaper and even very cheap. I quite often use the MATIC chain for some trading on Dex or to make withdrawals from some exchanges or do arbitration using the cheaper MATIC chain. Besides that, chains like TRX can also be another option for cheaper withdrawals compared to having to use an ERC20 chain, which we already know will be very expensive.
only in certain cases I use ERC20.

[JeffBrad12]

Switch to TRON network, TRON transfers ( ~3 each day ) are free. Plus there are various tokens, like Tether USDT in TRON network.

they are really good solution for sending stablecoin honestly, their fees are so cheap that it's always worth it when it comes to using stablecoin in this blockchain.
though there aren't many tokens deployed there and also even meme coin is very few in there which categorized as some shitcoins.
i think the problem that forces people out there to use the ethereum blockchain is that the emergence of newer coins that gonna steal attention of many and become the next best coin
ever which gonna increase in value more than hundred times is always in ethereum, not in some place else.

[SirLancelot]

You are more interested in altcoins and you only know how to use the ecosystem on ETH , maybe you should look at the problem a bit more when we can easily find other solutions with the system. eco has lower fees. I'm thinking if you're FOMOing shitcoins or memes on that system, if that's true then you also need to understand the risk and return you need to accept for your behavior. With the overall return from investing in altcoins I think there are many ecosystems in this space that provide a pleasant experience so you really do your research, dumps from BNB, AVA, DOT, MATIC, SOL,... lots of places to look.

Altcoins had some different functionalities from Bitcoin, no wonder why many people are hooked on them. We can't blame him if he only knew ETH. He might be one of the pioneers in crypto because ETH was among the first altcoin to be introduced to have a smart contract functionality. If he is a die-hard fan of it, I know that he is also aware about the problems of it and that is why he is here complaining about the gas fee.

There are solutions for it. One is like you said eco but I think this was rarely used compared to others so maybe they are much better than it? Shitcoin are risky but also very rewarding. It's up to us if we take the risk and pay more for the fee but there were also shitcoin in other networks. The risk on them is much lesser.

[Games.Bitcoin]

Currently, high gas fees for sending tokens within cryptocurrency systems remain a persistent problem. The fees required to process transactions on blockchain networks can sometimes be very high, especially during high network congestion. It can then be seen that if a customer tries to send a small amount of tokens, his transaction has little benefit with the cost. This high gas fee then makes that user unusable. This problem currently causes widespread problems and disruptions for cryptocurrency customers, which hinders the possibility of daily transactions. However, efforts are underway to explore alternative solutions. This high gas transfer will continue to hamper its usability and accessibility until an alternative solution is developed.

[mdzahed134]

~snip~dominating in the market but come in mind that we do have BEP20 which is on binance chain which fees are way too cheap but surprisingly there are still having that huge demand on most tokens sitting on erc20.

Yes, its been a main problem on erc20 on having that huge gas fees on transferring token and this is why most of shit coins or meme coins being created is mostly on binance chain.
You would eventually be able to see and compare it out specially on checking out those DEXe's. Making up some small amount transactions is never been that worth
on which it would really be just that eaten by the gas fees and this is why there are lots of people who had been hating up on making tx on eth chain.

BEP20 is also quite cheap but try to use the MATIC (POLYGON) chain, it will be cheaper and even very cheap. I quite often use the MATIC chain for some trading on Dex or to make withdrawals from some exchanges or do arbitration using the cheaper MATIC chain. Besides that, chains like TRX can also be another option for cheaper withdrawals compared to having to use an ERC20 chain, which we already know will be very expensive.
only in certain cases I use ERC20.

You know most of the coin didn’t deployed in Matic chain so it’s a main problem we can't use it and missed this opportunity. But i see now there are so many coins implemented in BSC network, so this is alternative way to sell tokens with low gas fees instead of ETH Network.Same thing in Tron network, a very few coins are deployed, so there are no way to use it without USDT Tether.

[abel1337]

~snip~dominating in the market but come in mind that we do have BEP20 which is on binance chain which fees are way too cheap but surprisingly there are still having that huge demand on most tokens sitting on erc20.

Yes, its been a main problem on erc20 on having that huge gas fees on transferring token and this is why most of shit coins or meme coins being created is mostly on binance chain.
You would eventually be able to see and compare it out specially on checking out those DEXe's. Making up some small amount transactions is never been that worth
on which it would really be just that eaten by the gas fees and this is why there are lots of people who had been hating up on making tx on eth chain.

BEP20 is also quite cheap but try to use the MATIC (POLYGON) chain, it will be cheaper and even very cheap. I quite often use the MATIC chain for some trading on Dex or to make withdrawals from some exchanges or do arbitration using the cheaper MATIC chain. Besides that, chains like TRX can also be another option for cheaper withdrawals compared to having to use an ERC20 chain, which we already know will be very expensive.
only in certain cases I use ERC20.

You know most of the coin didn’t deployed in Matic chain so it’s a main problem we can't use it and missed this opportunity. But i see now there are so many coins implemented in BSC network, so this is alternative way to sell tokens with low gas fees instead of ETH Network.Same thing in Tron network, a very few coins are deployed, so there are no way to use it without USDT Tether.

Even with a very high gas fees, developers still choose to deploy on ethereum knowing that there are a demand on that blockchain. As an investor,, I don't find it helpful knowing that we all gonna suffer from ridiculous gas prices. Developers should consider blockchain that offer  cheap gas fees. I don't know the technical side of things on how they deploy a token on ethereum but fundentally, ethereum is a strong project and even many project had tried and achieve to outperform ethereum, People still choose erc20.

[timoshani]

~snip~dominating in the market but come in mind that we do have BEP20 which is on binance chain which fees are way too cheap but surprisingly there are still having that huge demand on most tokens sitting on erc20.

Yes, its been a main problem on erc20 on having that huge gas fees on transferring token and this is why most of shit coins or meme coins being created is mostly on binance chain.
You would eventually be able to see and compare it out specially on checking out those DEXe's. Making up some small amount transactions is never been that worth
on which it would really be just that eaten by the gas fees and this is why there are lots of people who had been hating up on making tx on eth chain.

BEP20 is also quite cheap but try to use the MATIC (POLYGON) chain, it will be cheaper and even very cheap. I quite often use the MATIC chain for some trading on Dex or to make withdrawals from some exchanges or do arbitration using the cheaper MATIC chain. Besides that, chains like TRX can also be another option for cheaper withdrawals compared to having to use an ERC20 chain, which we already know will be very expensive.
only in certain cases I use ERC20.

You know most of the coin didn’t deployed in Matic chain so it’s a main problem we can't use it and missed this opportunity. But i see now there are so many coins implemented in BSC network, so this is alternative way to sell tokens with low gas fees instead of ETH Network.Same thing in Tron network, a very few coins are deployed, so there are no way to use it without USDT Tether.

But you still have to pay a fee for using the bridge from ETH to BSC. Perhaps this approach is beneficial for large volumes, but for small amounts, such a fee simply kills.