Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Ethereum Forum => Topic started by: dragononcrypto on December 22, 2020, 11:51:11 AM
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At the moment I'm still usually Ethereum network but usually having to wait a while for transactions to confirm, anywhere between a few hours to a day or so when using 20-30 gwei. What do you do when faced with high gas fees, do you wait or submit transactions with lower fees or pay the higher prices?
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I hate seeing my transaction being pending for too long and require me to wait until it fully successful that is why I chose to pay my transaction a little bit higher.
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I usually use the gas fee from Imtoken and don't change it because I think it is fast enough for delivery, so I don't know how many gwei I use I only calculate what I will trade to cover gas costs, get profit or not, from the transaction
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I haven't done a transaction in ethereum blockchain until recently. I've spent 27.5, 40, and 44 gwei and all of them were confirmed almost instantly. It was a necessary transaction that's why I didn't bother adjusting the recommended fees.
If I'm to based it on my transactions before, I wouldn't send with a fee over 10 gwei.
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Commonly, in a normal cnditin, I will eait the gas fee uder 25 gwei. It is on the economy rtae
However, if it is in a little hurry, I will also still do tranfser at the rate of maximally 60 gwei. If it is more than it I prefer to hold it and delay the transfer.
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Last few months, gas fees is a common problem but we can't avoid it. We only can wait few hours when transaction pressure relative lower. Most of the time we have to pay 41-50 gwei which expensive, although once it was more than 300 gwei. Last year, we have made all transactions from 5-31 gwei which was comparatively very less.
What do you do when faced with high gas fees, do you wait or submit transactions with lower fees or pay the higher prices?
In times of emergency need, we have to pay higher fees but in less necessity, we can wait for lower fees.
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I use the low cost of gas, while waiting for the gas price to fall, then I will send my token ;D
Arround 10-20 gwei
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Several times I had to make transactions when the gas price was high, but sometimes I needed to do various urgent transactions and therefore I had no choice, and of course I always make transactions in the evening when the gas price is minimal and usually it is around 21-30 gwei.
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Several times I had to make transactions when the gas price was high, but sometimes I needed to do various urgent transactions and therefore I had no choice, and of course I always make transactions in the evening when the gas price is minimal and usually it is around 21-30 gwei.
Yesterday I made a transaction and charged 20 Gwai for gas and my transaction was canceled after 3 hours of waiting. then I set 25 Gwei, but the transaction was pending almost all night and I had to manually cancel the transaction. I believe that there is a certain framework where you can adjust the commission yourself, but it does not always work.
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I usually use 51-60 gwi for rapid transaction .I also use automatic gas transaction system cause i hate to wait for any transaction .I don't make any transaction when its been high .I think the fees will decrease as the recent time we face a lot of transaction that's why fees are increasing .
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Ethereum price is currently OK. However, I think Ethereum's gas fee is a big problem. Because eth gas is declining by transactions due to increase. Many are being harmed by the transaction. Currently having to spend extra.
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At the moment I'm still usually Ethereum network but usually having to wait a while for transactions to confirm, anywhere between a few hours to a day or so when using 20-30 gwei. What do you do when faced with high gas fees, do you wait or submit transactions with lower fees or pay the higher prices?
Saya termasuk anggota baru jadi belum pernah dihadapkan pada biaya gas yang tinggi, tapi seandainya nanti terjadi, saya akan mencoba menunggu atau mengajukan biaya yang lebih rendah
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Actually I will use a low gas fee like 10gwei but all of that can be seen from the token I want to send, if I want to send it to an exchange, then I will add a maximum fee of up to 75gwei.
I do this to speed up transactions, but in certain hours and still see Gasprice at all times.
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I always use trust wallet as my researving cryptocurrencies. When. I transfer ERC 20 assets from trust wallet then gas fees automatically change. There are no options to change Ethereum gas gwei .
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On December 27, I had to pay 120 Gwei for a ~ 3 minute transaction, I got more and more bored with Ethereum GAS fees
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I used to pay only 20-40 gwei but lately i have to pay 80 to 120 gwei is really crazy for paying such high
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yes i usually pay 50 to 80 gwei very high GAS price i also have 1 set of transaction, pay 140 gwei for fast transaction and 120 gwei for transaction `~ 3 min
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Yes, the gas price is very high recently, making me not want to invest more in Ethereum. Bitcoin, although the gas price supply is not less than Ethereum, but the profit of Bitcoin is huge. I will sell Ethereum when it feels at the desired price
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yes, gas fees make traders very bored with Ethereum. ETH2.0 has launched but gas fees have not been changed along with the slow increase in price and not as promised by ETH2.0 which makes me no longer excited about Ethereum.
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Arround 10-20 gwei
10-20 gwei is very low, maybe that's a transaction that is often used in the past 2017.
At that time GAS was very cheap to send tokens from erc20 and it was very environmentally friendly to all the cryptocurrency community.
Unfortunately now for GAS transactions are very expensive and it is very sad.
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Increasing gas fees is a big problem. Interrupting transactions, not being able to deposit in many token exchanges. Because Ethereum gas fee is high, many users are suffering. I am currently suffering a lot from using this platform. Hopefully this problem will be solved in the future.
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On December 27, I had to pay 120 Gwei for a ~ 3 minute transaction, I got more and more bored with Ethereum GAS fees
Today I transfer my INVIZON bounty campaign rewards from trust wallet to vindax exchange wallet with rate of Ethereum gas fee more than $7 . I totally boaring about network fees.
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I never remember how much the eth gas fee I paid when I made a transaction, what is certain is that if the price of gas is expensive I will delay the delivery first.
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A few years ago I only paid 5 gwei and tolerated the delay in transactions, but now it seems 5 gwei is the simplest way for us to learn to be patient while ETH2.0 is completed :)
Currently I usually pay 50 gwei per transaction, as a habit, because this is the price offered by some events (swap token).
I rarely move my tokens, so I think I can totally accept the 50 gwei price. If the transaction costs are too high, I will wait until another time with a better price.
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I often see the price of gwei on Etherscan and it changes all the time.
In fact, just now I saw the price of GAS on the Etherscan website was around 120 gwei, then when I typed this thread I waited for a while and it fell to the price of 103 gwei.
I don't know, I don't know about this because it might be really sad for Ethereum lovers.
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I always try to make a transaction where the gas price is low enough. Actually, the gas price decreased after the DeFi hype it's just the price of ethereum. If you see GEWI then you can see sometimes it go below 50 GEWI. It was similar to this before too as i can remember.
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Today I try to transfer kingswap coin from my personal wallet to uniswap interface website wallet but for excess gas fee I can't transfer.
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It is different if you send ETH or ERC-20 or you are using Uniswap.
this site for the gas is great: https://explore.duneanalytics.com/public/dashboards/ZN89dYu9g2ErUDWhEJJbLlsXxZRAiOprTL0eGdU6
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Today I try to transfer kingswap coin from my personal wallet to uniswap interface website wallet but for excess gas fee I can't transfer.
Uniswap, justswap requires huge trasaction fees than normal ERC20 tokens transfer to any exchange. It is better to avoid such sites if tokens list in another Centralized exchange. Recently i had to pay $10 for exchange of small amount.
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I think it depends on what coins you use, if you use bitcoin I usually only need $ 2 in shipping and use an Electrum wallet, while for the ERC20 I usually use the lowest gas fee of only $ 5 even though currently gas costs are on the rise.
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For several months ago, I commonly pay for around 20 gwei. But now, it is too hard to find this rate. It is mostly about 40 gwei. the fee of gas ETH is so damn high right now and we cannot ignore it if we want to transfer our tokens. And this is probably still ongoing again and again moreover heading to the bullish altcoins
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For several months ago, I commonly pay for around 20 gwei. But now, it is too hard to find this rate. It is mostly about 40 gwei. the fee of gas ETH is so damn high right now and we cannot ignore it if we want to transfer our tokens. And this is probably still ongoing again and again moreover heading to the bullish altcoins
20 gwei is now a dream of transfer but till now we are facing a huge critical moments when we see transaction fees is above $7-$10. It is better to wait or avoid now Ethereum network.
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I was used to paying under 1$ but right now it is possible to pay even 15 /20$ for slow and 100 usd for fast which is way to much so right now while eth is pumping so as lot of people anxiously awiting eth 2.0 with its sharding solution which will hugely lower transaction fees
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31-40 gwei when I was in 2017, at that time I was still following the booming bounty.
And I think that at that price, I think it is quite cheap and more efficient than now which is very expensive.
Maybe this year the transaction fee is around 150 gwei because now it has reached 100 gwei, Oh My God!
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Gas fee is so high I can't even imagine, the other day I want to send some tokens and gas was as high as $17 eth for fees :o I quickly cancel the transaction and wait when the gas price is a bit fair, I can't believe the amount we have to pay to send erc20 tokens, this is unbearable.
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How can we send any token from my erc20 address to exchange wallet. When etherium gass fee will low i don’t know. Tomorrow i try to send some token on exchange, but i calculate that my all tokens worth is $15 but need gass fees $8 for transaction. How this possible i cant understand.
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Ethereum price exceeded $1200. The growth of the asset per day was 11.8%, over the past seven days - 62.7% the price of gas increased again. We need to look for some solutions to this problem, if the price of gas rises, then trading on stock exchanges will stop.
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I think sending cryptocurrency usually costs between $ 1 or more depending on the busy conditions of transactions and the price that is soaring. if you don't want to use high fees then you can use other altcoins.
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I think for EThereum's GAS coin transactions it is always changing every time and it cannot be ascertained when it will go up or down.
But if we see the price of Ethereum going down then GAS will go down and if the Ethereum price goes up then GAS will go up too.
When I reply to this thread, I see the GAS cost on the etherscan is around 55 gwei and when it refreshes it changes again it goes up to 60 gwei.
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Dont know to properly answer that question. I'm using myetherwallet and "normal" transaction speed. The cost and transaction speed varies all the time. I've tried using "slow" and setting gwei manually, but from time to time network just burn my gas and transaction fails. That is why I've chosen "normal" transaction speed with already preset gwei amount.
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I think for EThereum's GAS coin transactions it is always changing every time and it cannot be ascertained when it will go up or down.
But if we see the price of Ethereum going down then GAS will go down and if the Ethereum price goes up then GAS will go up too.
For this reason, we have the choice of how much we have to pay for Gas when sending Tokens, if it's not urgent then we just wait for the price of Gas to drop and then we send it. And during my experience in sending tokens, the highest gas I use is $3.
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I cannot take it anymore when I use Uniswap fees are insane high 10-15 usd every trade thats unbelievable fees just by buying and selling your profit goes to miner and you only get so little thats why I stop using ether dapps now and I use CEX when trading.
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Fees is to much high i trade now i pay 20$ thats to much high fees i think in few days fees will be good that will be easy to trade,
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High gas fees are a big problem in the Etherium network these days. I personally try to use 21-30 gwei; However, it cannot be implemented all the time. It is not possible to deposit most of the rewarded tokens on the exchange due to high gasphi, as the token seller has to pay a higher gas fee than what is available. However, I hope that after the full implementation of Ethereum 2.0, we can get rid of this high gasp.
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10 gwei should also be able to send Ethereum because 10 gwei is a relatively cheap value.
Don't confuse the ethereal price of Ethereum, then the price of GAS is expensive, I think this is irrelevant and tends to be almost the same as the real world.
this is a digital world, where cryptocurrency must be more efficient than the real world.
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Gas fee is so high and there is no telling when it may likely come down, just now I was trying to send some tokens to bithumb exchange and I was charged $10 which was too high considering the token I was about to send was not much, I just change my mind from sending since I don't have such gas fees. It is unbearable.
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I have a hard time selling some of my altcoins because of the transaction fee, on Mew and MyCrypto desktop application I can set up the fee I have no problem getting my transaction confirm in 24 hours but using a noncustodial wallet like the wallet I'm using is a big problem as I cannot change the transaction fee and it's always high ranging from $10 to $15.
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10 gwei should also be able to send Ethereum because 10 gwei is a relatively cheap value.
Don't confuse the ethereal price of Ethereum, then the price of GAS is expensive, I think this is irrelevant and tends to be almost the same as the real world.
I am actually different from your view I vote for 21-30 gwei because I see that there really needs to be an increase to give awards so that they can make updates that may be necessary. so that there will be improvements for the user. at least there is mutual respect between users and those who run.
this is a digital world, where cryptocurrency must be more efficient than the real world.
if this I strongly agree and support what you say and we have to look from the side that maybe should be able to understand each other, of course the views are very appropriate at this time and we cannot avoid that there have indeed been changes happening at this time and it is always updated .
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Gas fee is so high and there is no telling when it may likely come down, just now I was trying to send some tokens to bithumb exchange and I was charged $10 which was too high considering the token I was about to send was not much, I just change my mind from sending since I don't have such gas fees. It is unbearable.
It seems that gas fees have not been resolved properly because gas fees are important for those who do have small transactions like what our colleague experienced. it may also be experienced by all of us who will make transactions. hopefully there will be other alternative uses for gas fees.
it seems that gas fees also greatly affect exchangers,
because the gas fee transaction is too high, so the exchanger also does bad things with a stipulated minimum deposit that feels heavy too.
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I'm fine with paying around 2-3 USD for regular transaction and "not more than 5 USD" for a quick.
Can someone explain why in a time period of 5 min for example, transaction fee is so different? I may transfer ERC20 token to Binance with 5 USD fee, while sending same token to Uniswap cost two times more
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I'm fine with paying around 2-3 USD for regular transaction and "not more than 5 USD" for a quick.
Can someone explain why in a time period of 5 min for example, transaction fee is so different? I may transfer ERC20 token to Binance with 5 USD fee, while sending same token to Uniswap cost two times more
For only 2-3 dollars, of course everyone can accept it, but sometimes it doesn't make sense that makes us annoyed with ethereum, so I outsmarted it by changing to XRP because the transaction fees are very cheap.
Uniswap is only because it is easier to make transactions and is not complicated, but it is not recommended to be used as a place for transactions because the price is extraordinary, especially if you use metamask sometimes by having $ 35 dollars in metamask you cannot make transactions because there are some coins that must have extraordinary deposits .
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I'm fine with paying around 2-3 USD for regular transaction and "not more than 5 USD" for a quick.
Can someone explain why in a time period of 5 min for example, transaction fee is so different? I may transfer ERC20 token to Binance with 5 USD fee, while sending same token to Uniswap cost two times more
For only 2-3 dollars, of course everyone can accept it, but sometimes it doesn't make sense that makes us annoyed with ethereum, so I outsmarted it by changing to XRP because the transaction fees are very cheap.
Uniswap is only because it is easier to make transactions and is not complicated, but it is not recommended to be used as a place for transactions because the price is extraordinary, especially if you use metamask sometimes by having $ 35 dollars in metamask you cannot make transactions because there are some coins that must have extraordinary deposits .
Unfortunately, transactions this year require more than $2 to make a transaction on average. Only a few networks still have fairly low transaction fees, such as BSC and Solana.
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People are already on the road to forget using the ethereum network because there are a lot of fees to spend and the downside is big losses for everyone. Nowadays most of the new projects are entering the market with bsc and ton network support due to which people are not excited about using ethereum network. I myself have spent a lot of time in and out of the ethereum network. However, gas fees are determined based on the content of the lane. If you want to make a quick transaction, gas fees are increased. Again these fees always go up and down especially following the rise in the price of ethereum.
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The last time I used Ethereum was when fees rose to over $20 in fees and it was even more when sending Eth based tokens, and that's how I just resorted to just watch Eth from afar and try it's competitors like Tron, BnB, Ton etc.
Btw, I don't think tx fees are fixed because these rely on demand of the network , if network is on high demand expect to pay a premium and if it's not busy like say in the evening then expect to pay lower than usual..so it's all in the timing of when you make the transactions.
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The last time I used Ethereum was when fees rose to over $20 in fees and it was even more when sending Eth based tokens, and that's how I just resorted to just watch Eth from afar and try it's competitors like Tron, BnB, Ton etc..
I also experienced that, but now, I haven't used the Ethereum network to send tokens for a long time. So it's been quite a while, it used to reach tens or even hundreds of gwei during the bullrun last season. and this is very expensive, especially since the tokens sent are not worth the fee. That was one of Ethereum's weaknesses at that time so that the transaction fee was very high.
But now, it seems to have gone down quite a bit. Because I saw several times that it was even below 5 gwei. This is getting better. it's just that there are still changes in the increase and decrease of gwei gas. so it would be much better if you always check the fee before making a transaction.
But now, the fee is getting higher and higher again. It is baout 15 gwei. wow, it's really rising up again.
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The last time I used Ethereum was when fees rose to over $20 in fees and it was even more when sending Eth based tokens, and that's how I just resorted to just watch Eth from afar and try it's competitors like Tron, BnB, Ton etc..
I also experienced that, but now, I haven't used the Ethereum network to send tokens for a long time. So it's been quite a while, it used to reach tens or even hundreds of gwei during the bullrun last season. and this is very expensive, especially since the tokens sent are not worth the fee. That was one of Ethereum's weaknesses at that time so that the transaction fee was very high.
But now, it seems to have gone down quite a bit. Because I saw several times that it was even below 5 gwei. This is getting better. it's just that there are still changes in the increase and decrease of gwei gas. so it would be much better if you always check the fee before making a transaction.
But now, the fee is getting higher and higher again. It is baout 15 gwei. wow, it's really rising up again.
We know that ethereum network is the second position crypto in cryptocurrency market. We also saw saw it’s popularity will spread in all over the world. But another thought we know that ethereum network is very expensive in cryptocurrency world. So that many people give up hope from ethereum network. They want to reduce there fees, so many people were choose ton network for pay fees. But when i used in ethereum, than i Usually used 51-60 gwi for fast transaction.
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I myself have spent a lot of time in and out of the ethereum network. However, gas fees are determined based on the content of the lane. If you want to make a quick transaction, gas fees are increased. Again these fees always go up and down especially following the rise in the price of ethereum.
It's been quite a while since the last time I made a transfer with this Ethereum network, the fee for transactions in the Ethereum network. The movement of transaction fees in this network is still quite the same as usual, if the price of ETH goes up and the network gets denser, the fee will immediately increase quite drastically. Yes, it all still depends on the density of transactions on the network and also the possibility of the movement of the ETH price itself.
However, for now the fee is only around 5gwei and it is almost the same for Low - Average - and High
That's quite different from a few days ago, when I checked the gas which was more than 10 gwei.
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Unfortunately, transactions this year require more than $2 to make a transaction on average. Only a few networks still have fairly low transaction fees, such as BSC and Solana.
Yeah, in many cases, the transfer fees should be above $2 (minimum fees). But I think it is already cheaper now, Ethereum is no longer as expensive as in the past. I still remember that the transfer fees were above $20. I even didn't want to transfer any coins with the network of Ethereum because the transfer fees is higher than the value of the coins. ;D
Yes, the fees on Solana, BSC (BEP20), Tron, and Polygon are cheaper. Now, people also prefer using TON chain (network). We have many alternatives of cheap networks.
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The last time I used Ethereum was when fees rose to over $20 in fees and it was even more when sending Eth based tokens, and that's how I just resorted to just watch Eth from afar and try it's competitors like Tron, BnB, Ton etc..
I also experienced that, but now, I haven't used the Ethereum network to send tokens for a long time. So it's been quite a while, it used to reach tens or even hundreds of gwei during the bullrun last season. and this is very expensive, especially since the tokens sent are not worth the fee. That was one of Ethereum's weaknesses at that time so that the transaction fee was very high.
But now, it seems to have gone down quite a bit. Because I saw several times that it was even below 5 gwei. This is getting better. it's just that there are still changes in the increase and decrease of gwei gas. so it would be much better if you always check the fee before making a transaction.
But now, the fee is getting higher and higher again. It is baout 15 gwei. wow, it's really rising up again.
We know that ethereum network is the second position crypto in cryptocurrency market. We also saw saw it’s popularity will spread in all over the world. But another thought we know that ethereum network is very expensive in cryptocurrency world. So that many people give up hope from ethereum network. They want to reduce there fees, so many people were choose ton network for pay fees. But when i used in ethereum, than i Usually used 51-60 gwi for fast transaction.
Well, fees on ethereum can somtimes be irritating especially when the network is overly congested and gas fee prices high. Hence, it comes as no shock that people begin searching for cheaper alternatives to transact in such as the TON network. At times when people are carrying out small transactions, it is not profitable to transact using Ethereum because the fees needed to cover the transaction size are more than the value of the transaction. But if we really do need speed, then like it or not, we have to be prepared to spend more devices in order to process transactions quickly.
However, if Ethereum finds a way to address this issue through new protocol upgrades like Ethereum 2.0 or even through a layer 2 solution, perhaps many people will revisit this network. The thing is that despite of the fact that everything costs a lot, there is a already big Ethereum ecosystem and many do not want to leave this network due to and the fact that security has also been demonstrated.
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Since ethereum is well known for an unpredictable gas fee rates, what i do sometimes is not to even look at the amount required in as much as am interested n making the transaction as a matter of urgency, because going through it could be discouraging to an extent, but when compared to the value of what its been needed for, then i will have nothing to do than to make my transaction at any cost given.
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Talking about how much usually for paying Ethereum gas fees depend on airdrop ERC20 condition, last several days ago fees ethereum looks normal and cheapest but yesterday when Eigen airdrop claiming release drastically huge of fees for transaction trough ERC20 coins network. I think few days later fees will back normal after not any user claiming the coins airdrop but will huge drastically again later if any new airdrop of ERC20 coins releasing.
Now fees ethereum dropped again under 3 Gwei and you only need under $5 to make transaction or lower if only send coins trough ERC20 network, but this cheapest fees can't defend for longer time.
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Talking about how much usually for paying Ethereum gas fees depend on airdrop ERC20 condition, last several days ago fees ethereum looks normal and cheapest but yesterday when Eigen airdrop claiming release drastically huge of fees for transaction trough ERC20 coins network. I think few days later fees will back normal after not any user claiming the coins airdrop but will huge drastically again later if any new airdrop of ERC20 coins releasing.
Now fees ethereum dropped again under 3 Gwei and you only need under $5 to make transaction or lower if only send coins trough ERC20 network, but this cheapest fees can't defend for longer time.
Yes, it will depend on the condition of Ethereum network. If it looks busy, the transfer fees can be above $5. But if the transaction looks normal, the transfer fees should be cheaper than $5. But most of the time, I send my ERC20 coins with around $5. I think it is no problem if our ERC20 coins valued above $100. But if the coins only valued around $5-$10, it is not worth it to spend $5 for the transfer fees. I personally prefer to not moving the coins anywhere. :D
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Yes, it will depend on the condition of Ethereum network. If it looks busy, the transfer fees can be above $5. But if the transaction looks normal, the transfer fees should be cheaper than $5. But most of the time, I send my ERC20 coins with around $5. I think it is no problem if our ERC20 coins valued above $100. But if the coins only valued around $5-$10, it is not worth it to spend $5 for the transfer fees. I personally prefer to not moving the coins anywhere. :D
According to EtherScan data, Ethereum gas fees dropped to a low of around 3 Gwei a few weeks back but have quickly rebounded to over 30 Gwei following the recent market rally spurred by the FED rate cut. This has made Ethereum transactions significantly more expensive but has also contributed to burning more ETH from the supply, pushing Ethereum back into a deflationary phase which is bullish for its future price.
I haven't been using Ethereum for a while now. Layer-2 solutions are much more attractive in terms of speed and cost. For transactions, I only pay a few cents in fees. This allows me to save more to buy native tokens of these Layer-2s, I hope to profit from their potential future price appreciation.
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Anything below 30 gwei is good to me, though sometimes despite gas fee being less, you still pay good amounts as some smart contract interactions are just expensive.
For example, just a few days, I was claiming EIGEN tokens, gas fee was around 20 IIRC, and it showed 13 USD as estimated transaction fee, I postponed it and claimed it few days later when gas fee was below 10 gwei and paid about 6 USD.
Ether transfers cost the least, token transfers bit more, and smart contract interactions, the most.
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I see that years have passed, and people still discuss, consider expensive, but still use Ethereum blockchain. Strange phenomenon. There are cheaper blockchain, yet people still use Ethereum. People complain about high transaction fees in Bitcoin (and scare that they will quit or wait for fees to be much lower) when it is more expensive to make a transaction on Ethereum, yet still use Ethereum.
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I see that years have passed, and people still discuss, consider expensive, but still use Ethereum blockchain. Strange phenomenon. There are cheaper blockchain, yet people still use Ethereum. People complain about high transaction fees in Bitcoin (and scare that they will quit or wait for fees to be much lower) when it is more expensive to make a transaction on Ethereum, yet still use Ethereum.
Personally, I stopped using Ethereum, only use it when dapp mandatorily requires as in case of Eigen claim. Nowadays, I keep funds on Optimism or Arbitrum, and use from there when needed.
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I see that years have passed, and people still discuss, consider expensive, but still use Ethereum blockchain. Strange phenomenon. There are cheaper blockchain, yet people still use Ethereum. People complain about high transaction fees in Bitcoin (and scare that they will quit or wait for fees to be much lower) when it is more expensive to make a transaction on Ethereum, yet still use Ethereum.
Personally, I stopped using Ethereum, only use it when dapp mandatorily requires as in case of Eigen claim. Nowadays, I keep funds on Optimism or Arbitrum, and use from there when needed.
Yeah, many projects would do the same, due to the known reasons for craving for more scalability.
OP and Arb are great for their own reasons, and the differences would be technical, mostly.
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Personally, I stopped using Ethereum, only use it when dapp mandatorily requires as in case of Eigen claim. Nowadays, I keep funds on Optimism or Arbitrum, and use from there when needed.
It seems that more and more people and projects are leaving the Ethereum network because of concerns about the very high gas increases, especially during the bullrun era. Based on past experience, it is really annoying when you have to spend a very high amount for gas, even up to hundreds of gwei at that time, but the tokens sent are only a little different from that. That's why I didn't take care of many ERC20 tokens at that time because of the high Ethereum gas problem.
Now there are many choices of networks other than Ethereum, and the fees are very cheap in my opinion. They compete to provide the same service and speed, but the fees are very, very small, compared to Ethereum. That's why many new projects are switching to other networks, such as BSC, Solana, and others. And now there are also many platforms that have provided a variety of network options for carrying out withdrawal or sending, so we can be freer to choose it. while for the use of the Ethereum network, the same as you, usually only mandatory and there are no other options.
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I see that years have passed, and people still discuss, consider expensive, but still use Ethereum blockchain. Strange phenomenon. There are cheaper blockchain, yet people still use Ethereum. People complain about high transaction fees in Bitcoin (and scare that they will quit or wait for fees to be much lower) when it is more expensive to make a transaction on Ethereum, yet still use Ethereum.
Personally, I stopped using Ethereum, only use it when dapp mandatorily requires as in case of Eigen claim. Nowadays, I keep funds on Optimism or Arbitrum, and use from there when needed.
Yes, it is better to keep it in both of the ones you mentioned Even if we get a lot of tokens every time that we use the Arbitrum platform. To get better or cheaper transactions without leaving the Ethereum network, layer-2 scaling solution such as Optimism and Arbitrum can be adopted. As more people adopt layer-2 solutions and changes are made to the main Ethereum network, the Ethereum experience is expected to be better for everyone. Ethereum has also lost quite a lot of it’s user base so far. Thus, your decision right now could not be any better.