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Author Topic: The transaction fee is more than double the transaction amount .  (Read 5064 times)

Offline Condorlaib

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Re: The transaction fee is more than double the transaction amount .
« Reply #15 on: December 19, 2020, 05:40:56 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.
According to the developers, the transaction price should drop at least a hundred times and the bandwidth should increase to 100,000. But until this happens, the commission can be adjusted manually, especially when using Trust Wallet.

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Re: The transaction fee is more than double the transaction amount .
« Reply #15 on: December 19, 2020, 05:40:56 PM »

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Offline Zed0X

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Re: The transaction fee is more than double the transaction amount .
« Reply #16 on: December 19, 2020, 06:50:37 PM »
~
However, the transaction fee should be less than the transaction amount.
You cannot dictate what the transaction fee should be. It's an open network where anyone is free to choose how much gas fee they want to use for their own transaction. The other senders won't know about the amount of your transactions and the miners won't care either.

Offline cryptopediabd

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Re: The transaction fee is more than double the transaction amount .
« Reply #17 on: December 19, 2020, 10:59:39 PM »
I am also facing issue. Presently the fees of ERC20  is high enough for me as well. In addition in certain hours. My proposal is continuously to check once more the transaction fees, some time after an hour.  Its because of market capitalization. The biggest pump in 2020.
« Last Edit: December 19, 2020, 11:33:51 PM by cryptopediabd »
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Offline dragonvslinux

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Re: The transaction fee is more than double the transaction amount .
« Reply #18 on: December 20, 2020, 10:38:21 AM »
It's true the gas prices remain hideous and I wouldn't bother competing with the high 3 figure gas prices others are paying for. Personally I will put in transactions for 20-30 gwei, which with tokens cost aorund $1, or otherwise 30 cents for Ether transfers, and wait for necessary amount of time for confirmaiton.
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Re: The transaction fee is more than double the transaction amount .
« Reply #19 on: December 20, 2020, 11:19:24 AM »
Yes, Ethereum gas fees are much higher now.  Due to which everyone is suffering a lot of problems. Everyone hoped that the gas fee will be reduced a lot after the launch of Ethereum 2.0.  But it has not been implemented yet. If the Ethereum gas fee is not reduced in the future, I think Ethereum will be a big loss.  It currently costs more than  2 to send 2 Ethereum.
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Offline Sterling

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Re: The transaction fee is more than double the transaction amount .
« Reply #20 on: December 21, 2020, 09:30:11 AM »
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.
Gas fee is too high. Small investors like us have almost no profit. Maybe I will leave Ethereum in the near future and switch to new platforms that promise more growth

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Re: The transaction fee is more than double the transaction amount .
« Reply #21 on: December 21, 2020, 09:41:51 AM »
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, GAS fee is one of the points that make traders increasingly abandon Ethereum when the price of Gas wua is high, I am transferring money to new platforms like BEP20 or TRC20, and what about you?

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Re: The transaction fee is more than double the transaction amount .
« Reply #21 on: December 21, 2020, 09:41:51 AM »


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Re: The transaction fee is more than double the transaction amount .
« Reply #22 on: December 21, 2020, 10:07:59 AM »
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, GAS fee is one of the points that make traders increasingly abandon Ethereum when the price of Gas wua is high, I am transferring money to new platforms like BEP20 or TRC20, and what about you?
đây là một điều rất khó chấp nhận khi lợi nhuận của các nhà giao dịch phải bị chia rất nhiêu cho phí GAS. tôi đang cảm thấy chán nản và muốn đầu tư vào các nền tảng mới
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Re: The transaction fee is more than double the transaction amount .
« Reply #23 on: December 21, 2020, 10:31:40 AM »
Is Ethereum joking around with investors when its gas fees are too high, reducing investors' profits?
does Ethereum no longer respect investors as they do not deal with the GAS fee issue

Offline Bitstar_coin

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Re: The transaction fee is more than double the transaction amount .
« Reply #24 on: December 21, 2020, 10:49:06 AM »
The price of eth has gone up and so will be the transaction fees, any transaction you are making now especially transferring alts has a high fee compare to few days back, this has already been said that once eth price increases the fees will also increase, eth 2.0 was suppose to bring a solution but this will take some time before any positive effect will occur.

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Re: The transaction fee is more than double the transaction amount .
« Reply #25 on: December 22, 2020, 01:14:56 PM »
Unfortunately, we are not in the position to control this annoying matter of ethereum. We can choose to lower the gas but that only if you are willing to wait and also it is better not to make any transaction if you are just withdrawing a small amount of fund.

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Re: The transaction fee is more than double the transaction amount .
« Reply #26 on: December 22, 2020, 06:25:32 PM »
Is Ethereum joking around with investors when its gas fees are too high, reducing investors' profits?
does Ethereum no longer respect investors as they do not deal with the GAS fee issue
Mate, do you have a basic understanding on how ethereum transaction works? Do you even follow ethereum developments? Does ethereum 2.0 ring a bell?

Those who are buying ethereum for trading and/or long term investments aren't bothered with the gas fees anyway. A $1 or even $10 fees are measly to them.

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Re: The transaction fee is more than double the transaction amount .
« Reply #27 on: January 08, 2021, 05:29:24 PM »
It is not very friendly for sending bounty tokens today.
If the gas for Ethereum transactions is around 200 gwei, then the transaction to send Ethereum is around 10 USD and for sending tokens it is definitely more than 20 USD.

This is really more expensive when compared to sending Bitcoin, maybe the token from erc20 will have to have a more genius understanding for this kind of problem.
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Offline juv3ntus1

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Re: The transaction fee is more than double the transaction amount .
« Reply #28 on: January 15, 2021, 07:29:17 AM »
I just see a solution (L2 AMM) for the expensive fee on the Loopring twitter a video where a tranzactions of 10 $ (eth-usdc)on loopring dex have a cost fee only 2 cents.
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Re: The transaction fee is more than double the transaction amount .
« Reply #29 on: January 17, 2021, 09:17:16 AM »
We cannot alleviate or reduce these costs because this is the demand of miners and the price of Ethereum continues to rise.
The cost of GAS depends on the price of Ethereum, the more expensive Ethereum, the more expensive the GAS transaction.

This method is widely discussed in various media and it definitely falls into a very good category for Etheruem but sad for Bounty Hunters.
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