ETH gas fees are a joke.

[Captain Corporate]

I honestly think that it is a temporary thing that will pass soon. I know that spending nearly 3 bucks per transaction, and as high as 20+ dollars for each action taken, that seems like a lot, like approving a new token? That can go as high as 40 bucks depending on the moment. You think this could be sustainable? Obviously that's just a period, and as soon as people slow down and we get this clog out of the way, it will go back to transactions as it happens and the price will fall. It just happened to have a moment when there were a lot, and that caused a clogging in the system that we haven't fix yet, but that will with time and we will be seeing much cheaper everything very soon, this current fees can't be sustained for too long.

[1715121997]

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[GreatArkansas]

I honestly think that it is a temporary thing that will pass soon. I know that spending nearly 3 bucks per transaction, and as high as 20+ dollars for each action taken, that seems like a lot, like approving a new token? That can go as high as 40 bucks depending on the moment.
(....)

This is an already known issue of Ethereum for years now. Scalability is really the issue right now for Ethereum and that's why the birth of layer 2 networks started and it will help to scale the Ethereum network.

To be honest, Ethereum for me right now is only for whales. If you are just a person who want do use Ethereum using small funds, you will eat by these high transaction fees.

[hd49728]

This is an already known issue of Ethereum for years now. Scalability is really the issue right now for Ethereum and that's why the birth of layer 2 networks started and it will help to scale the Ethereum network.

Hopefully layer 2 projects will have to solve this. People will have to afford to lose expensive fee from bridging their Ethereum on layer 1 to layer 2 and after that they can enjoy cheaper transaction fee. However, a biggest threat is security of bridges which is unknown and from past stories, hacks, we can see cryptocurrency bridges are favorite targets of hackers.

Development of layer 2 projects is good but we also need to see they spend more resources to improve security especially for cryptocurrency bridges.

To be honest, Ethereum for me right now is only for whales. If you are just a person who want do use Ethereum using small funds, you will eat by these high transaction fees.

It is a hook which was used by Binance and CZ to shill their Binance Smart Chain in 2020. Ethereum is for the rich and make you poorer. Binance Smart Chain is for the poor and make you richer.

[ARCADIA-OG]

Can't agree more, the TX fees makes it impossible to massify crypto in emerging economies, not even talking about the extra resources needed for that.

In theory the fees should be lower after the changes in mining mechanics, right? But if that happens, then what's the point of all those L2s?

[Walesone]

Welcome to the world of crypto, where you have to pay more to transfer your funds than what you actually received. Looks like ETH fees are taking more money from you than the IRS. Have you considered putting your crypto in a piggy bank instead?

[Psynthax]

it's indeed a joke, you could say paying $35 for just a transaction is ridiculous considering other blockchain only requires measly $0.1 and yet ethereum with its classic gas fee will always require something so high, even though many kept saying that there are L2 for alternative and other blockchain like BNB but lets be honest here, those blockchain in general aren't really active like ethereum.

[wiss19]

So I have to pay $9 ETH to transfer 70 USDT I just received, out of my wallet? And worse, transferring any amount of ETH will set you back $3 in gas fees.

I've just converted most of my ETH to BTC, and have $0.5 left in metamask. It claims to have an "advanced gas control" when you hit Send, but it's not showing me that.

Is there a way for me to lower the gas fees from metamask, or otherwise import the wallet into some other software?

As far as I know, since I've used MetaMask quite a lot in the past, they have the option to edit the gas fees for every single transaction that you initiate, and it depends on the network congestion and the gas amount you select about how much time the transaction will take to get confirmed, it will obviously take more time if you reduce the gas fee.

Paying $9 for a $70 transaction is too much, and you should have first researched or asked about it then you should have done it and you could possibly save a few dollars from the gas fees that you've paid.

[fullhdpixel]

ETH fees are huge indeed. I was using TRX instead of it, but its fees are becoming worse too. LTC is a good option with low fees and fast transactions, but it doesn't have tokens on its blockchain.

So this was still a problem? I thought it was fix already by the time ETH upgraded their system but there must be some improvements and the fees are not really worse as before. I think that's also because new coins have now been invented which is said to be a good alternative to ETH but before them, we have the old coins. LTC is the first alternative to ETH.

TRX is only invented later on. In the early days of TRX, its much better compare to LTC but indeed that it got worse lately. I think that is because many people are now using it. There's also an issue about TRX and its founder. Other than them, have you tried Matic already? or try the Binance chain.

[AakZaki]

When there is a significant increase in transactions on the Ethereum network ERC20 Gas fees will slowly rise. It will indeed have an impact on the shipping costs made. I've even experienced paying over $10.  There is no other way to save it, or you just need to set the gas according to what you want, and it will be executed when the gas fee matches the gwei setting you did.
It's quite annoying, when you have to convert but are faced with a high cost.

[Wiwo]

Welcome to the world of crypto, where you have to pay more to transfer your funds than what you actually received. Looks like ETH fees are taking more money from you than the IRS. Have you considered putting your crypto in a piggy bank instead?

I remember an ugly experience back then with Ethereum where I have to pay fees that is higher than the amount I want to send At that point, I thought what the difference is between Ethereum and traditional banks since we pay high fees and have to wait for long for the transactions to get confirmed some time it takes days if the networks are congested. This have been the measure of scalability issues with Ethereum network and even with the multiple networks migration and upgrades same issues have remain unsolved.

This have made many to consider some other coins that have less fees and faster networks, currently there are several coins that have taken over in the scalability of networks with low fees and faster transaction time..

[bitkanu]

When there is a significant increase in transactions on the Ethereum network ERC20 Gas fees will slowly rise. It will indeed have an impact on the shipping costs made. I've even experienced paying over $10.  There is no other way to save it, or you just need to set the gas according to what you want, and it will be executed when the gas fee matches the gwei setting you did.
It's quite annoying, when you have to convert but are faced with a high cost.

setting gas yourself is even worse because if transaction is failed to be executed you'd loss your gas, imagine you wanna set up the gas fee instead you're losing the money.
it's just overall something really need to be solved by the ethereum devs, but until now it just doesn't get solved at all.

[payetlefort]

Not realy a joke but a choice for tokenomics.
more than 70% of your fees are burned...
Just a rich-man choice   

[Teraboy]

there are so many smart contract being deployed in ethereum nowadays, the rate is even more than it was before and many of them are just overpopulating the blockchain.
I wonder why those blockchain developer of the famous project always choose ethereum for their mundane and rather useless attempt of airdrops.
it's like couldn't they simply choose other blockchain that's well adequate and also cheap enough in term of gas fee required, sometimes it's mind boggling.

[Wiwo]

Not realy a joke but a choice for tokenomics.
more than 70% of your fees are burned...
Just a rich-man choice  

Yeah deadily rich man's choice I guess, but why do we have to contribute indirectly to the burnt token through excessively high fees and burning almost 70% of the same fees, it's like a case of the river supplying water to the ocean we're as it is supposed to be the ocean giving the river water.

I won't want to use more harsh words to portray the point I am trying to make, but then I hope you understand, my point is there have not been any benefits for ethereum users from all the net migration and other network development in the ethereuem ecosystem.

[Cling18]

there are so many smart contract being deployed in ethereum nowadays, the rate is even more than it was before and many of them are just overpopulating the blockchain.
I wonder why those blockchain developer of the famous project always choose ethereum for their mundane and rather useless attempt of airdrops.
it's like couldn't they simply choose other blockchain that's well adequate and also cheap enough in term of gas fee required, sometimes it's mind boggling.

High gas fees have been the struggle of many users for years. The developers have promised to lessen it but it still getting more expensive each year. That's the reason why many traders have switched to other network to save fees. Oftentimes, the required gas fee is higher than our withdrawal amount which is too disappointing and in end, we will just hold the funds until its withdrawable and we're able to carry out the gas fees.

[payetlefort]

Not realy a joke but a choice for tokenomics.
more than 70% of your fees are burned...
Just a rich-man choice  

Yeah deadily rich man's choice I guess, but why do we have to contribute indirectly to the burnt token through excessively high fees and burning almost 70% of the same fees, it's like a case of the river supplying water to the ocean we're as it is supposed to be the ocean giving the river water.

I won't want to use more harsh words to portray the point I am trying to make, but then I hope you understand, my point is there have not been any benefits for ethereum users from all the net migration and other network development in the ethereuem ecosystem.

Yes its a sad game!!

That's why I move to the Cosmos Ecosystem!

Have a good day!

[lalabotax]

So I have to pay $9 ETH to transfer 70 USDT I just received, out of my wallet? And worse, transferring any amount of ETH will set you back $3 in gas fees.

For some reason, the increase in the gas fee for the Ethereum networm seems to be a sign that Bullish might be coming soon. However, what is certain is that this increase is in line with the increase in the price of ETH. but if you have to pay $9 to transfer $70, I think that's a huge amount. Are the various changes made by Ethereum still not a solution to this gas fee problem? If it's always been like this, over time people will switch to other networks that are much more affordable with the same quality

[shinratensei_]

Not realy a joke but a choice for tokenomics.
more than 70% of your fees are burned...
Just a rich-man choice   

very true, even binance founder kept saying that only rich people are using ethereum now, the rest are being forced to use other alternative blockchain which aren't quite the same.
but it's good that due to this fact that the ethereum is demanding higher gas fee which equals to more money that so many projects are now spread out across various blockchain so that not all project are all getting deployed and created in ethereum.
but still, it's such a pain in the ass to deal with ethereum, the fee itself quite literally eating up many of our assets, if we have no choice but use this blockchain.

[sheenshane]

So I have to pay $9 ETH to transfer 70 USDT I just received, out of my wallet? And worse, transferring any amount of ETH will set you back $3 in gas fees.

For some reason, the increase in the gas fee for the Ethereum networm seems to be a sign that Bullish might be coming soon. However, what is certain is that this increase is in line with the increase in the price of ETH. but if you have to pay $9 to transfer $70, I think that's a huge amount. Are the various changes made by Ethereum still not a solution to this gas fee problem? If it's always been like this, over time people will switch to other networks that are much more affordable with the same quality

I did it last when I have Ethereum in my wallet and I wanted to withdraw it but I can't due to the high fee, it's a small amount, and if I blindly accept the gas fee, it almost nothing left.  So the best thing that I did is to monitor the gas fee and check it every day when it will cool down the congestion and it's usually the gas fee cooldown when the weekend comes or there's a worldwide event like holidays.

Ethereum isn't ideal to use in a small amount, so if you have this in your wallet just reserve it for a gas fee when moving your token or coins that are based on the Ethereum network.

Find an alternative way if you're in exchange convert it o trade into altcoins that have a low transaction fee.

[MFahad]

So I have to pay $9 ETH to transfer 70 USDT I just received, out of my wallet? And worse, transferring any amount of ETH will set you back $3 in gas fees.

You are trying to send Usdt when Gwei(gas fee) is high. normally when gas fee are 20 Gwei - 25 Gwei then you have to pay 2$-3$ but if Gwei increases then you have to pay more according to Gwei. Gas fee depends upon number of transaction. when market start up ir down then Ethereum gas fee become high due to increase of number of transaction per block.

Is there a way for me to lower the gas fees from metamask, or otherwise import the wallet into some other software?

I read article about Ethereum fee where they talk so much about fee. After shinghai Upgrade the next phase will be to split transaction into parts. This upgrade will decrease the fee very low. I will recommend to hold until This upgrade but if you still want to use Ethereum network then Keep eye on Gas tracker and when you see Gwei Below 25, you can try to make transaction.

ETH Gas Fee Tracker: https://etherscan.io/gastracker