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Author Topic: The transaction fee is more than double the transaction amount .  (Read 5059 times)

Offline ttcsalam

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The transaction fee is more than double the transaction amount .
« on: December 18, 2020, 05:10:17 PM »
 I transferred $ 2 from my ether wallet today. But the fee is more than 2 dollars. fee is $ 2.53Truly it is very difficult for hunters. The transaction fee should be reduced. I hope your valuable feedback.
« Last Edit: December 18, 2020, 05:16:04 PM by ttcsalam »

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The transaction fee is more than double the transaction amount .
« on: December 18, 2020, 05:10:17 PM »

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Re: The transaction fee is more than double.
« Reply #1 on: December 18, 2020, 05:17:45 PM »
 Well that is always part of the bullish market that causes congestion. If you want to Save better not to make any transaction yet but since you did,  meaning you are in urgent matter.
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Re: The transaction fee is more than double the transaction amount .
« Reply #2 on: December 18, 2020, 11:39:48 PM »
Yes, it is true, but we can do nothing with this. This is the fact right now that the fee of ERC20 Ethereum platform is very high. Moreover in certain hours. My suggestion is always to check again the fee before transferring an hour per hour. there are some probabilities the fees are low in some certain hours.

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Re: The transaction fee is more than double the transaction amount .
« Reply #3 on: December 19, 2020, 04:36:11 AM »
Yes, it is true, but we can do nothing with this. This is the fact right now that the fee of ERC20 Ethereum platform is very high. Moreover in certain hours. My suggestion is always to check again the fee before transferring an hour per hour. there are some probabilities the fees are low in some certain hours.
You gave a good suggestion. So it has to be done.The transaction has to be done only when the transaction fee is low.However, the transaction fee should be less than the transaction amount.

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Re: The transaction fee is more than double the transaction amount .
« Reply #4 on: December 19, 2020, 05:23:35 AM »
Yes, I experienced the same thing with you, I only make transactions when the tokens I have really have a good price in the market and will leave them in my wallet if the price is low.

I think ETH 2.0 is not fully operational yet, we still have problems with high gas costs
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Offline Malam90

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Re: The transaction fee is more than double the transaction amount .
« Reply #5 on: December 19, 2020, 09:02:36 AM »
Not only you but also most of the users of Ethereum network are annoyed with this transaction fees and DeFi projects require more fee which is unbearable for low volume transactions.

We have nothing to do for reduce transactions fees over night. Only we can avoid time when gas fees is too high and wait for lower fees when transaction pressure are lower.

This transaction fees won't be reduced over night. Ethereum 2.0 already stared and it is a long time process. We need to wait at least phase 2 completed which can take upto 6-10 months from now.

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Re: The transaction fee is more than double the transaction amount .
« Reply #6 on: December 19, 2020, 09:30:54 AM »
6-10 months is a very long period. I am more than sure that it will take even more time. Thus sadly fees amount will keep growing. Bounty hunters are in worst position right now. Projects decreases budget and rewards are often less than the cost of transfering it.
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Re: The transaction fee is more than double the transaction amount .
« Reply #6 on: December 19, 2020, 09:30:54 AM »


Offline Malam90

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Re: The transaction fee is more than double the transaction amount .
« Reply #7 on: December 19, 2020, 11:55:55 AM »
6-10 months is a very long period. I am more than sure that it will take even more time. Thus sadly fees amount will keep growing. Bounty hunters are in worst position right now. Projects decreases budget and rewards are often less than the cost of transfering it.

 Right, It needs more than 1 year but at least 6-8 months needed to be benefited from it. And it is also right that Bounty hunters are suffering much as the budget of project is now very low. Transaction costs are greater than bounty payment that's create a history.

Offline ttcsalam

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Re: The transaction fee is more than double the transaction amount .
« Reply #8 on: December 19, 2020, 11:56:41 AM »
6-10 months is a very long period. I am more than sure that it will take even more time. Thus sadly fees amount will keep growing. Bounty hunters are in worst position right now. Projects decreases budget and rewards are often less than the cost of transfering it.
In fact, it's a little over 6 to 10 months, and it's really hard for those of us who are hunters. Even then we have to work with who we are. We have nothing else to do but it.

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Re: The transaction fee is more than double the transaction amount .
« Reply #9 on: December 19, 2020, 12:17:22 PM »
I transferred $ 2 from my ether wallet today. But the fee is more than 2 dollars. fee is $ 2.53Truly it is very difficult for hunters. The transaction fee should be reduced. I hope your valuable feedback.
High gas fees are making small investors frustrated when Ethereum price is high and transaction fees are making us switch to BTC investment so the price of BTC gas is not huge. New altcoins are also attracting us
Contact me if you need t.me/Emircande

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Re: The transaction fee is more than double the transaction amount .
« Reply #10 on: December 19, 2020, 01:17:09 PM »
It seems you need to look at gasstation to avoid high fees, currently the gas costs are still above 75gwi and I will not make transactions in small amounts because it will consume the amount of ethereum you have if your transactions always fail due to the length of confirmation on the ethereum blockchain.
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Re: The transaction fee is more than double the transaction amount .
« Reply #11 on: December 19, 2020, 01:59:46 PM »
I transferred $ 2 from my ether wallet today. But the fee is more than 2 dollars. fee is $ 2.53Truly it is very difficult for hunters. The transaction fee should be reduced. I hope your valuable feedback.

Yes mate, except you want to transfer an erc20 token, i think it is better to convert to other coins like LTC, TRX WAVE to reduce transaction fees. At this bull run period, the erc20 transaction fee are very high and it not encouraging, transferring coin/tokens should be carry out with other coins.

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FXBOX
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Offline Seerge

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Re: The transaction fee is more than double the transaction amount .
« Reply #12 on: December 19, 2020, 02:27:21 PM »
We should have waited for cheap transaction fees first and then sent our assets, because if the transaction costs are not always high. There are ups and downs seeing the condition of the platform, if the transaction is solid then it is definitely expensive because people will charge high fees so that transactions are quickly confirmed. And we must avoid times like that, unless it is very urgent and cannot be delayed anymore.

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Re: The transaction fee is more than double the transaction amount .
« Reply #13 on: December 19, 2020, 02:39:59 PM »
I transferred $ 2 from my ether wallet today. But the fee is more than 2 dollars. fee is $ 2.53Truly it is very difficult for hunters. The transaction fee should be reduced. I hope your valuable feedback.
At times like this we can't do anything.
As each ethereum price goes up, its gas goes up.
The best solution for bounty hunters is not to make transactions if the coins you want to send are low value. But if the coins you want to send are of high value, you can
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Offline trauchot

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Re: The transaction fee is more than double the transaction amount .
« Reply #14 on: December 19, 2020, 04:58:21 PM »
I completely agree with you, so the Ethereum developers released the first stage of Ethereum 2.0 and as I understand it, with the next stages, the gas price should fall, but when it will be unknown, so you should check the gas price from time to time and make transactions when the gas price is the lowest.
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