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I was about to do a transaction and the gas fee was very high! Any advice on how to get the lowest gas fees? I have looked at the heatmap, and I can see that at certain times and days, it's a bit lower. Any advice for a newbie?
Thanks!!
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I faced this issue through out last month because I had some USDT in my wallet but it was an ETH-chain USDT which requires me to have some ETH to spend as gas fee. First, I bought some Ethereum on the MEXC exchange because they had some low fee of withdrawal and a little amount as minimum withdrawal limit.
After I withdraw to my wallet, I tried to swap the USDT to ETH but I got charged $9 worth of ETH meanwhile the USDt faild to swap. After Iost $9 due to the fail swap, I was only left with $5 worth of Ethereum which was very small compare to the required gas fee to carry out the transaction.
First what I did then was to wait till early morning, once it's around 1AM-5AM gas fee usually reduces, although not all time, so you can try carrying out your withdrawal around early hours of the day.
Second suggestion is that, some wallet usually have a high transaction fee compare to other wallet, so I would suggest for you to download Metamask, import your wallet there and try using it to withdraw your coin. The wallet usually have a low fee and you can modify the fee to your choice.
It was this two method that helped me to finally move out my USDT from my wallet.
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I was about to do a transaction and the gas fee was very high! Any advice on how to get the lowest gas fees? I have looked at the heatmap, and I can see that at certain times and days, it's a bit lower. Any advice for a newbie?
According to this site (https://etherscan.io/gastracker), one can send ETH with just $.78 as of 4/7/24 which is kind of low compared to what I paid days ago which amounted to almost $3...quite so high in my own standard. Indeed, there are days when the gas fee can be low but there are also many days when they can be shockingly high...especially if you compared the rate if one will be using other blockchains like BNB. Now, if you compared it to BTC, I think ETH will still be a winner because as of Apr 05 2024 the average transaction fee is $4.016 (https://ycharts.com/indicators/bitcoin_average_transaction_fee) and for now there is nothing we can do about it except if you are in an exchange because you can convert your ETH or BTC to other asset and send the same somewhere else and then convert again to ETH or BTC.
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I was about to do a transaction and the gas fee was very high! Any advice on how to get the lowest gas fees? I have looked at the heatmap, and I can see that at certain times and days, it's a bit lower. Any advice for a newbie?
Thanks!!
Yes, you are right, at certain times the gas fees for making transactions will be low when not many people are using the network you are using. However, when the network conditions are busy with transactions, it will make us think again about making transactions because usually it will charge transaction fees. which is quite expensive as you have experienced.
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I was about to do a transaction and the gas fee was very high! Any advice on how to get the lowest gas fees? I have looked at the heatmap, and I can see that at certain times and days, it's a bit lower. Any advice for a newbie?
Thanks!!
Get a wallet which let's you customize fees, such as metamask
Use gas tracker to get the lowest price per gwei
http://etherscan.io/gastracker
Use customized fee or the lowest recommended.
You can read about ethereum fees here
https://www.altcoinstalks.com/index.php?topic=319506.0
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I was about to do a transaction and the gas fee was very high! Any advice on how to get the lowest gas fees? I have looked at the heatmap, and I can see that at certain times and days, it's a bit lower. Any advice for a newbie?
Thanks!!
The average gas fee for the Ethereum network this time is between 16 - 20n gwei. And this ranges between $1 to $1.5. So, actually, it is quite affordable as tu maosh is under 20gwei. Usually, sometimes up to hundreds of gwei and this happens at bearish times at that time. Whatever it is and whatever it is at that time, there really is no other choice but to transfer it. But yes, sometimes it's really stressful looking at the fees.
but now it's different. Even though the market is quite up, the Etheruem network fees are still quite affordable. What's more, it's very easy to use. It's just that nowadays there are a lot of competitors. so the Etheruem network must be able to start anticipating it.
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I thought that eth solves this high fees already due to transitioning to PoS? But it looks like it doesn't help at all. Fees are still usually very high.
Anyway, you can follow what bitmover suggested above. There are many wallets that offers cuztomizable fees.
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I was about to do a transaction and the gas fee was very high! Any advice on how to get the lowest gas fees? I have looked at the heatmap, and I can see that at certain times and days, it's a bit lower. Any advice for a newbie?
Thanks!!
The high cost of a transaction in the ethereum network is the biggest pain of this blockchain, but transactions do not always cost 20-30 dollars, sometimes you can transfer ethereum tokens for 1 dollar, although this is not considered cheap, but quite normally, you can pay attention to the fact that at certain times of the day or when there are some very large purchases of the ether network, the cost rises if you urgently need to buy or sell something, you will do it anyway. And if you want to transfer ether tokens within a day or two, then go to the etherscan below, I’ll send it to you link.
https://etherscan.io/gastracker
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I thought that eth solves this high fees already due to transitioning to PoS? But it looks like it doesn't help at all. Fees are still usually very high.
Anyway, you can follow what bitmover suggested above. There are many wallets that offers cuztomizable fees.
how I wish that this already solved the problem but it doesnt , instead fees are still high in certain time like these week , because I have use Ethereum coupleof weeks ago but did not face this high fee so i think now that the network is congested same reason why the fee increased this high.
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I thought that eth solves this high fees already due to transitioning to PoS? But it looks like it doesn't help at all. Fees are still usually very high.
Anyway, you can follow what bitmover suggested above. There are many wallets that offers cuztomizable fees.
how I wish that this already solved the problem but it doesnt , instead fees are still high in certain time like these week , because I have use Ethereum coupleof weeks ago but did not face this high fee so i think now that the network is congested same reason why the fee increased this high.
Using a good wallet will let you pay the minimum fee possible. It won't solve ethereum network scalability problem...
You can use layer 2 for that. Optimism, arbitrum, matic, etc..
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Use the electrum fee tracker as already mentioned will help including the kind of wallet you're using which may permit for making adjustment on any fee, however we must never forget that we may likely not to see the Ethereum network fee as the same as we have in other networks like bitcoin and TRON network, which also indicated that no matter how low you have it with Ethereum network, it may not be as low compared to other networks.
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Thanks for all of the replies! I have metamask, didn't even know that it was a good wallet for getting lower fees. Any specific settings I need to do?
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You don't need to change anything on your wallet, but if you use MEW and Enkrypt, there is an option to change during the transaction, 4 variants are possible, choose the one that suits you. If not, it means that you have to wait for the price of gas to decrease. You can follow it on the CoinTool website.
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Okay cool. I will look into that, thanks :)
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Thanks for all of the replies! I have metamask, didn't even know that it was a good wallet for getting lower fees. Any specific settings I need to do?
The wallet does not reduce fees, but some wallets have better estimates of fees than other wallets, so if you use a wallet like this, the estimate will be better.
NEW WALLET have a better estimates than MM
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ah thanks for that clarification!!
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Thanks for all of the replies! I have metamask, didn't even know that it was a good wallet for getting lower fees. Any specific settings I need to do?
For MetaMask, there are no specific settings to reduce the fees, only when sending the transaction. You can determine the fees by specifying the gwei value of the Ethereum fee gas. The lower this value is, the lower the fees will be.
But of course, you must be aware that reducing these fees will lead to a decrease in speed or an increase in the transaction time, which may take a long time if the fees are very low.
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Gas fees are super low right now! I just made a couple of transactions and the fee that started with 100 dollars when I started this thread was down to 15 dollars today!
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It is surprising to see fees on ethereum are currently lower than on bitcoin, maybe because same people who are messing around with nft and runes now moved from ethereum to bitcoin.
If you plan to move around some tokens and stable coins and make transactions on ethereum blockchain than this is the right time to do it.
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I was about to do a transaction and the gas fee was very high! Any advice on how to get the lowest gas fees? I have looked at the heatmap, and I can see that at certain times and days, it's a bit lower. Any advice for a newbie?
Thanks!!
Just as cryptocurrency coin prices fluctuate, Ethereum transaction gas fees also do. Sometimes it's high, sometimes it's low, but because of the dense activity on the Ethereum Blockchain, many people increase transaction fees so that their activity is quickly confirmed.
This is why Gas prices on the Ethereum network continue to be high, there is no other way to get cheap Gas fees except to wait for them to go down.
But sometimes it takes a very long time!
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It is surprising to see fees on ethereum are currently lower than on bitcoin, maybe because same people who are messing around with nft and runes now moved from ethereum to bitcoin.
If you plan to move around some tokens and stable coins and make transactions on ethereum blockchain than this is the right time to do it.
Those bitcoin fees won't last long. They are not sustainable... once those ordinals shit stop,fees will be sub 30 satvB again
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Those bitcoin fees won't last long. They are not sustainable... once those ordinals shit stop,fees will be sub 30 satvB again
The question is when, although the devs have planned about that, but i find nothing about the dates. I would better it could be done sooner or else we will soar this huge fees for several days, it's worst.
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Those bitcoin fees won't last long. They are not sustainable... once those ordinals shit stop,fees will be sub 30 satvB again
The question is when, although the devs have planned about that, but i find nothing about the dates. I would better it could be done sooner or else we will soar this huge fees for several days, it's worst.
I think this is not just devs dependant.
Even without any update in bitcoin protocol, these people just ran out of money in the past. We had seen spikes of 500 sat/vB before, and after a few weeks things were back to 30sat vB. Fees are already coming down again.
But I agree that we should have some update in the protocol to avoid this secondary usage of the blockchain.
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I think this is not just devs dependant.
Even without any update in bitcoin protocol, these people just ran out of money in the past. We had seen spikes of 500 sat/vB before, and after a few weeks things were back to 30sat vB. Fees are already coming down again.
But I agree that we should have some update in the protocol to avoid this secondary usage of the blockchain.
I don't think the Bitcoin miner community would agree to the removal of the Inscription update as it could be a useful feature in the future and it is providing them with income after the block reward has been halved. The same thing happened in the block size war in 2017: the community chose the path that would benefit overall development, including the long-term interests of miners.
Regarding Ethereum: Layer-2 has become a fairly effective solution but it will not replace Ethereum Layer-1. It's a shame that sharding was removed, we don't have any information about the next update to improve Layer-1 speed, so Layer-1 transaction fees will continue to rise during bullruns. Currently, the cost of transferring ETH is acceptable, around 8-10 gwei ~ $0.5 - 0.7, but swap fees are still quite expensive compared to other blockchains. All users can do is switch to using Layer-2 like Arbitrum or Base 8)
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Those bitcoin fees won't last long. They are not sustainable... once those ordinals shit stop,fees will be sub 30 satvB again
It's not just ordinals that are creating very high fees, and 30 satvB is not exactly low fees either.
I think miners will try to increase their profit with higher fees, and there is clearly ''someone'' with money printing machine who can always spam the network.
Recently there was similar spam attack for monero, so it's not only happening with bitcoin.
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Those bitcoin fees won't last long. They are not sustainable... once those ordinals shit stop,fees will be sub 30 satvB again
Transaction fees after the halving occurred increased very sharply, this is indeed a fairly high increase in gas fees throughout the history of bitcoin. But as time goes by, gas costs have started to fall gradually.
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n fees after the halving occurred increased very sharply, this is indeed a fairly high increase in gas fees throughout the history of bitcoin. But as time goes by, gas costs have started to fall gradually.
If you haven’t noticed, this thread is not about Bitcoin at all, we are talking about Ethereum here and about what kind of transactions there are in Ethereum, they are in Bitcoin, even though you are right that on Bitcoin now there are very expensive commissions, I advise you to write about this next time, rarely about Bitcoin .
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n fees after the halving occurred increased very sharply, this is indeed a fairly high increase in gas fees throughout the history of bitcoin. But as time goes by, gas costs have started to fall gradually.
If you haven’t noticed, this thread is not about Bitcoin at all, we are talking about Ethereum here and about what kind of transaction
Yes, it's true that this thread discusses Ethereum, but perhaps what is meant is that the movement of gas fees depends on price movements and bitcoin transaction conditions. As long as Bitcoin has high enough gas fees, it will make many traders carry out transactions using altcoins, including Ethereum, so it will create gas fees. Ethereum is increasing as well because transactions on the Ethereum network are becoming congested.
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I was about to do a transaction and the gas fee was very high! Any advice on how to get the lowest gas fees? I have looked at the heatmap, and I can see that at certain times and days, it's a bit lower. Any advice for a newbie?
The gas fee will always change in size, depending on the current condition of the network. By default, the number of devices that must be purchased for transfer can be checked on the following site:
https://etherscan.io/gastracker
That's about 11 gwei at the moment and maybe we could say that it's quite small. But yes, we do have to regularly check the gas tracker so we know when the estimated gas fee will go down, it won't be that high anymore. Because it really depends on the crowd level of the network.
But in fact, the amount of gas fees on the Ethereum network is currently not as high as before. And currently, it is Bitcoin transfer fees that are increasing like crazy and very drastically.
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I was about to do a transaction and the gas fee was very high! Any advice on how to get the lowest gas fees? I have looked at the heatmap, and I can see that at certain times and days, it's a bit lower. Any advice for a newbie?
The gas fee will always change in size, depending on the current condition of the network. By default, the number of devices that must be purchased for transfer can be checked on the following site:
https://etherscan.io/gastracker
That's about 11 gwei at the moment and maybe we could say that it's quite small. But yes, we do have to regularly check the gas tracker so we know when the estimated gas fee will go down, it won't be that high anymore. Because it really depends on the crowd level of the network.
But in fact, the amount of gas fees on the Ethereum network is currently not as high as before. And currently, it is Bitcoin transfer fees that are increasing like crazy and very drastically.
Currently, ethereum gas has dropped to 6 Gwei and this is a fairly low transaction fee for ethereum. Maybe because market conditions are not good, this ultimately reduces ethereum transactions and makes ethereum transaction fees as cheap as they are now.
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High transaction cost is a major problem for ethereum transaction. Sometimes it is high and sometimes it is low. You have to check from time to time when the transaction cost is low you can execute the transaction. I always do the same thing.
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I was about to do a transaction and the gas fee was very high! Any advice on how to get the lowest gas fees? I have looked at the heatmap, and I can see that at certain times and days, it's a bit lower. Any advice for a newbie?
Thanks!!
This issue has been around for a long time, the most criticized in the Ethereum market and the most complained about by investors is its excessive transaction fees. A few years ago Ethereum thought of bringing their new technology to the market to eliminate this problem of excessive transaction fees but so far they have not succeeded in bringing their new technology to the market. They are working on Ethereum 2.0 technology till now and so far they have not succeeded in their work. If this technology succeeds in the market, hopefully there won't be the complaints we have about Ethereum.
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I was about to do a transaction and the gas fee was very high! Any advice on how to get the lowest gas fees? I have looked at the heatmap, and I can see that at certain times and days, it's a bit lower. Any advice for a newbie?
Thanks!!
Do it on weekends.
Currently, it's Saturday here in our country, and I tried to make a transaction on Ethereum Network and the gas fees when I did it is only $8. I did say the word "ONLY" because most of the time especially in the weekdays, the transaction fees on Ethereum can go to as high as $50. For now, that's the best thing that you can do if you want to make a transaction under Ethereum Network, but in general, gas fee on Ethereum is very high especially for an average investor compared to other L2's out there like Polygon, Arbitrum, etc.
My suggestion is that, as much as possible, don't make a transaction on Ethereum network if you are only transferring a few bucks or even a hundred bucks.
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Do it on weekends.
Currently, it's Saturday here in our country, and I tried to make a transaction on Ethereum Network and the gas fees when I did it is only $8. I did say the word "ONLY" because most of the time especially in the weekdays, the transaction fees on Ethereum can go to as high as $50. For now, that's the best thing that you can do if you want to make a transaction under Ethereum Network, but in general, gas fee on Ethereum is very high especially for an average investor compared to other L2's out there like Polygon, Arbitrum, etc.
My suggestion is that, as much as possible, don't make a transaction on Ethereum network if you are only transferring a few bucks or even a hundred bucks.
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Yes, I realized that weekends are better so I will stick with that for the future. I also need to get comfortable and learn/use L2s
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I was about to do a transaction and the gas fee was very high! Any advice on how to get the lowest gas fees? I have looked at the heatmap, and I can see that at certain times and days, it's a bit lower. Any advice for a newbie?
Thanks!!
This issue has been around for a long time, the most criticized in the Ethereum market and the most complained about by investors is its excessive transaction fees. A few years ago Ethereum thought of bringing their new technology to the market to eliminate this problem of excessive transaction fees but so far they have not succeeded in bringing their new technology to the market. They are working on Ethereum 2.0 technology till now and so far they have not succeeded in their work. If this technology succeeds in the market, hopefully there won't be the complaints we have about Ethereum.
Unfortunately, over time, Ethereum has not made improvements to its network, so currently the Ethereum network has a weakness in that transaction fees are quite expensive, even though Ethereum's network security is good, there are still weaknesses that other people take advantage of to create new networks.
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Unfortunately, over time, Ethereum has not made improvements to its network, so currently the Ethereum network has a weakness in that transaction fees are quite expensive, even though Ethereum's network security is good, there are still weaknesses that other people take advantage of to create new networks.
You can check out the gwei here https://etherscan.io/gastracker
Now the Ethereum network fee is cheaper but cannot be compared to the layer 2 network because it is different but at least with the current low gwei it is what many people expect as Ethereum users who often make transactions.
In the past when making bridge transactions it cost a lot of money but for now it is not more than $10 or even below, but for me this is already quite low.
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High transaction cost is a major problem for ethereum transaction. Sometimes it is high and sometimes it is low. You have to check from time to time when the transaction cost is low you can execute the transaction. I always do the same thing.
But what we are trying to establish here? is that why not have at least a normal fee instead of growing high and low? because if we are in a hurry sending but the fee is too much ? then how can we use ethereum right away.
in this matter people are changing their use for other altcoins .
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A big investor or a medium investor while investing does not think so much about when they will sell their investment but they definitely think about which platform they are investing in. Generally, users on the Ethereum platform find it a hassle to transfer Ethereum because the transaction fees of Ethereum are the highest at all times. Since Ethereum has yet to solve this problem, their complaints will continue to come.
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High transaction cost is a major problem for ethereum transaction. Sometimes it is high and sometimes it is low. You have to check from time to time when the transaction cost is low you can execute the transaction. I always do the same thing.
Ethereum transaction fee is known to be high in general, even if you're not sending Ethereum coin itself but involves the use of any other coin on the Ethereum network, you are expected to pay a more higher transaction fee, we should know this as a common attributes for the use the of network, and before initiating any transaction, we should first consider the cost for making it if it can be affordable by us or not.
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High transaction cost is a major problem for ethereum transaction. Sometimes it is high and sometimes it is low. You have to check from time to time when the transaction cost is low you can execute the transaction. I always do the same thing.
Ethereum transaction fee is known to be high in general, even if you're not sending Ethereum coin itself but involves the use of any other coin on the Ethereum network, you are expected to pay a more higher transaction fee, we should know this as a common attributes for the use the of network, and before initiating any transaction, we should first consider the cost for making it if it can be affordable by us or not.
When Ethereum transaction fees increase, this has become a natural thing when many people use Ethereum to send money, this will make the network increasingly busy and ultimately require gas fees that are more expensive than usual.
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There is no solution for this, just check diligently, in my opinion, because the gas fee will have time to be cheap, in my experience, it's cheap here, not like before, which was only 0.xx $, but at least it's cheaper than usual
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There is no solution for this, just check diligently, in my opinion, because the gas fee will have time to be cheap, in my experience, it's cheap here, not like before, which was only 0.xx $, but at least it's cheaper than usual
Of course, for awhile, I felt like I was married to the heat map and checking in on it every 5 minutes! I was able to do the transaction at a decent rate in the end. The first price I had was 100 dollars and it went down to 18 dollars.
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Of course, for awhile, I felt like I was married to the heat map and checking in on it every 5 minutes! I was able to do the transaction at a decent rate in the end. The first price I had was 100 dollars and it went down to 18 dollars.
Generally, during the weekend between Friday to Sunday, there used to be a decline in most blockchain with high fees price, they reduce during the weekend because less people tend to use the network during the weekend, I think that's why you were able to execute the transaction but I was surprised when you said you first $100 unless it's a smart contract transaction and not wallet to wallet address transaction or either it might be a bump in transaction as a result of spam, weekend transactions fees aren't always that high.
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High transaction cost is a major problem for ethereum transaction. Sometimes it is high and sometimes it is low. You have to check from time to time when the transaction cost is low you can execute the transaction. I always do the same thing.
The transaction fee of ETH was very low before but when the price of ETH increased then the transaction fee of ETH also increased since then many people started using BSC chain. ETH's high gas fee gives the bsc, tron, sol, polygon network a great opportunity to become popular. If ETH's gas fee didn't increase so much, maybe other chains wouldn't be so popular. This is a big problem for small transactions. Because if a large fee is charged for completing small transactions, it makes the users unhappy.
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Of course, for awhile, I felt like I was married to the heat map and checking in on it every 5 minutes! I was able to do the transaction at a decent rate in the end. The first price I had was 100 dollars and it went down to 18 dollars.
Generally, during the weekend between Friday to Sunday, there used to be a decline in most blockchain with high fees price, they reduce during the weekend because less people tend to use the network during the weekend, I think that's why you were able to execute the transaction but I was surprised when you said you first $100 unless it's a smart contract transaction and not wallet to wallet address transaction or either it might be a bump in transaction as a result of spam, weekend transactions fees aren't always that high.
Yes sorry, maybe I should have specified that I wanted to lock some dai into the DSR so that transaction is a smart contract. And the 100 dollar was a random weekday when I wasn't aware of the big difference in gas price..
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Depends on the place you are making the transaction. Is it in exchange or on chain wallets? For now Ethereum transaction gas fee is high so I advise you to wait for some months to see if the gas fee will reduce. And you should not in hurry to sell your coins because Ethereum will rise again. So if you sell your Ethereum now, your will be the loser of the altcoin investment.
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High transaction cost is a major problem for ethereum transaction. Sometimes it is high and sometimes it is low. You have to check from time to time when the transaction cost is low you can execute the transaction. I always do the same thing.
The transaction fee of ETH was very low before but when the price of ETH increased then the transaction fee of ETH also increased since then many people started using BSC chain. ETH's high gas fee gives the bsc, tron, sol, polygon network a great opportunity to become popular. If ETH's gas fee didn't increase so much, maybe other chains wouldn't be so popular. This is a big problem for small transactions. Because if a large fee is charged for completing small transactions, it makes the users unhappy.
Recently i saw eth network gass fees are very low. I think it will be continue. We know eth network gass fees are very high from long time. So many people avoid it but if from now gass fees continue low then people again choice ethereum. And i think this low fess will continue otherwise Ethereum will lose his goodwill again.
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I was about to do a transaction and the gas fee was very high! Any advice on how to get the lowest gas fees? I have looked at the heatmap, and I can see that at certain times and days, it's a bit lower. Any advice for a newbie?
Thanks!!
The best advice for a beginner is simply not to use this blockchain for normal purposes (transfer money from point a to point b)
All cryptans use it only for the most extreme situations and very rarely, it seems to exist (the ether network) and it doesn’t exist because no one wants to look and guess the cost of transactions.
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I was about to do a transaction and the gas fee was very high! Any advice on how to get the lowest gas fees? I have looked at the heatmap, and I can see that at certain times and days, it's a bit lower. Any advice for a newbie?
Thanks!!
The best advice for a beginner is simply not to use this blockchain for normal purposes (transfer money from point a to point b)
All cryptans use it only for the most extreme situations and very rarely, it seems to exist (the ether network) and it doesn’t exist because no one wants to look and guess the cost of transactions.
Which blockchain would you suggest for a beginner to use?
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Gas fee on ETH is very high but i hope soon when the market go high that time the ETH fee is going to be low becasue that time the transactions limit is high and the ETH fee will low at that time. ETH is the best coin and this is the king of all ALT coins in the crypto market. Crypto market is the world best market and the future of the ETH coin is very good and best.
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Gas fee on ETH is very high but i hope soon when the market go high that time the ETH fee is going to be low becasue that time the transactions limit is high and the ETH fee will low at that time. ETH is the best coin and this is the king of all ALT coins in the crypto market. Crypto market is the world best market and the future of the ETH coin is very good and best.
Currently the fuel costs for making transactions on Ethereum have started to fall, you can see it https://etherscan.io/gastracker.
If you have assets to claim or want to send money using the Ethereum network then now is the right time because gas fees are falling.
(https://i.imgur.com/dwDCFAA.jpeg)
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I was about to do a transaction and the gas fee was very high! Any advice on how to get the lowest gas fees? I have looked at the heatmap, and I can see that at certain times and days, it's a bit lower. Any advice for a newbie?
Thanks!!
The best advice for a beginner is simply not to use this blockchain for normal purposes (transfer money from point a to point b)
All cryptans use it only for the most extreme situations and very rarely, it seems to exist (the ether network) and it doesn’t exist because no one wants to look and guess the cost of transactions.
Which blockchain would you suggest for a beginner to use?
It depends for what purpose you need this blockchain to understand what blockchain means for a beginner. I would advise you to start learning by installing a metamask wallet, on which you can hold dozens of different blockchains, which one you need is up to you.
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I was about to do a transaction and the gas fee was very high! Any advice on how to get the lowest gas fees? I have looked at the heatmap, and I can see that at certain times and days, it's a bit lower. Any advice for a newbie?
Thanks!!
The best advice for a beginner is simply not to use this blockchain for normal purposes (transfer money from point a to point b)
All cryptans use it only for the most extreme situations and very rarely, it seems to exist (the ether network) and it doesn’t exist because no one wants to look and guess the cost of transactions.
Which blockchain would you suggest for a beginner to use?
It depends for what purpose you need this blockchain to understand what blockchain means for a beginner. I would advise you to start learning by installing a metamask wallet, on which you can hold dozens of different blockchains, which one you need is up to you.
Yes I've got metamask now. It seems to be one of the top wallets for being accepted in many platforms but also being userfriendly!
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Yes I've got metamask now. It seems to be one of the top wallets for being accepted in many platforms but also being userfriendly!
It’s absolutely true that the metamask wallet is accepted on all existing exchanges and almost all the most popular blockchains are listed in it. If you can figure out this wallet, then you will not have problems like dealing with any other blockchain, since in this wallet any other blockchain is made exactly the same and they similar to each other.
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Yes I've got metamask now. It seems to be one of the top wallets for being accepted in many platforms but also being userfriendly!
It’s absolutely true that the metamask wallet is accepted on all existing exchanges and almost all the most popular blockchains are listed in it. If you can figure out this wallet, then you will not have problems like dealing with any other blockchain, since in this wallet any other blockchain is made exactly the same and they similar to each other.
Perfect, thank you :)
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I was about to do a transaction and the gas fee was very high! Any advice on how to get the lowest gas fees? I have looked at the heatmap, and I can see that at certain times and days, it's a bit lower. Any advice for a newbie?
Thanks!!
The best advice for a beginner is simply not to use this blockchain for normal purposes (transfer money from point a to point b)
All cryptans use it only for the most extreme situations and very rarely, it seems to exist (the ether network) and it doesn’t exist because no one wants to look and guess the cost of transactions.
Yep eth is not good for movement of coins and or tokens. Solana is far cheaper.
We are watching the beginning of eth dying off due to its excessive fee issues.
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I was about to do a transaction and the gas fee was very high! Any advice on how to get the lowest gas fees? I have looked at the heatmap, and I can see that at certain times and days, it's a bit lower. Any advice for a newbie?
Thanks!!
The best advice for a beginner is simply not to use this blockchain for normal purposes (transfer money from point a to point b)
All cryptans use it only for the most extreme situations and very rarely, it seems to exist (the ether network) and it doesn’t exist because no one wants to look and guess the cost of transactions.
Yep eth is not good for movement of coins and or tokens. Solana is far cheaper.
We are watching the beginning of eth dying off due to its excessive fee issues.
That's right, by using the Solana network or using the BSC network, we can carry out token trading transactions at lower costs than Ethereum. We just need to wait for Ethereum to get out of its comfort zone and start improving itself so that it still has fans.
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That's right, by using the Solana network or using the BSC network, we can carry out token trading transactions at lower costs than Ethereum. We just need to wait for Ethereum to get out of its comfort zone and start improving itself so that it still has fans.
If the transfer fees of Ethereum network is expensive, we have some alternatives. Tron, Solana, BSC are 3 networks with cheap transfer fees. I often used these networks if I want to send my coins. For the coins on Binance exchange, I always use BSC network if I want to send my coins to local exchange. I see it is 0 fees when I send my USDT in Binance account to Tokocrypto wallet. This is very helpful because these exchanges have the same cloud.
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That's right, by using the Solana network or using the BSC network, we can carry out token trading transactions at lower costs than Ethereum. We just need to wait for Ethereum to get out of its comfort zone and start improving itself so that it still has fans.
If the transfer fees of Ethereum network is expensive, we have some alternatives. Tron, Solana, BSC are 3 networks with cheap transfer fees. I often used these networks if I want to send my coins. For the coins on Binance exchange, I always use BSC network if I want to send my coins to local exchange. I see it is 0 fees when I send my USDT in Binance account to Tokocrypto wallet. This is very helpful because these exchanges have the same cloud.
It's true that we can use other networks to carry out digital currency transactions according to what we want, Tokocrypto and Binance are platforms that work together, Binance is the parent of Tokocrypto, so it is natural that sending between exchange places does not require fees because it is certain will go into their internal system.
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I was about to do a transaction and the gas fee was very high! Any advice on how to get the lowest gas fees? I have looked at the heatmap, and I can see that at certain times and days, it's a bit lower. Any advice for a newbie?
Thanks!!
The best advice for a beginner is simply not to use this blockchain for normal purposes (transfer money from point a to point b)
All cryptans use it only for the most extreme situations and very rarely, it seems to exist (the ether network) and it doesn’t exist because no one wants to look and guess the cost of transactions.
Yep eth is not good for movement of coins and or tokens. Solana is far cheaper.
We are watching the beginning of eth dying off due to its excessive fee issues.
I recently started using the opbmb blockchain and was very surprised at how very cheap it is, about 1,000 transactions cost around a dollar, it’s very cheap, it’s possible that Ethereum will also be introduced into the network, it looks like a mirror one for the blockchain will be much cheaper to use.
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That's right, by using the Solana network or using the BSC network, we can carry out token trading transactions at lower costs than Ethereum. We just need to wait for Ethereum to get out of its comfort zone and start improving itself so that it still has fans.
I think we have waited too long, the problem of high gas fees of ethereum has been going on for a long time and the ethereum team does not have a solution for this problem. We can only switch to other networks like Solana, BSC, TRON etc.
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I think we have waited too long, the problem of high gas fees of ethereum has been going on for a long time and the ethereum team does not have a solution for this problem. We can only switch to other networks like Solana, BSC, TRON etc.
Currently, ethereum gas still applies on a non-permanent basis, sometimes it is expensive but often enough to pay a fee of around 1$ when sending coins or claiming coins with the ETH network.
Yesterday, I spent around $1,2 for claiming reward from Meson coins with ERC20 network and taking around under $1 for sending that coins to exchange wallet. I think its more lower gas fees of Ethereum with usually taking more than $10 for claiming coins and around $3 to $6 for sending coins. Have been last several days gas fees around 6 GWEI and its good chance for any one has ERC20 coins sending to market by spending lower fees transaction.
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I think we have waited too long, the problem of high gas fees of ethereum has been going on for a long time and the ethereum team does not have a solution for this problem. We can only switch to other networks like Solana, BSC, TRON etc.
Currently, ethereum gas still applies on a non-permanent basis, sometimes it is expensive but often enough to pay a fee of around 1$ when sending coins or claiming coins with the ETH network.
Yesterday, I spent around $1,2 for claiming reward from Meson coins with ERC20 network and taking around under $1 for sending that coins to exchange wallet. I think its more lower gas fees of Ethereum with usually taking more than $10 for claiming coins and around $3 to $6 for sending coins. Have been last several days gas fees around 6 GWEI and its good chance for any one has ERC20 coins sending to market by spending lower fees transaction.
Yes the fees have been very low lately!
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On May 11, gas fees on the Ethereum blockchain dropped to 6 Gwei - the last time such values were seen in January 2020. After the launch of the Dencun hardfork, the network continues to be inflationary. Over the past 24 hours, 716 ETH has been burned and 2,526 ETH has been issued. The coin's exchange rate is showing weakness, trading at $2900.
(https://i.ibb.co/hVQ0Rhq/photo-2024-05-11-14-32-38.jpg)
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On May 11, gas fees on the Ethereum blockchain dropped to 6 Gwei - the last time such values were seen in January 2020. After the launch of the Dencun hardfork, the network continues to be inflationary. Over the past 24 hours, 716 ETH has been burned and 2,526 ETH has been issued. The coin's exchange rate is showing weakness, trading at $2900.
(https://i.ibb.co/hVQ0Rhq/photo-2024-05-11-14-32-38.jpg)
Wow that is low, I wish I had waited with my transactions.. Interesting to see what's going to happen in the future!!
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Seems people are getting to use more Layer2 networks and other blockchain like Solana and TON more these days and these has reduce both congestions and gas fee on Ethereum network. Another memecoin $Notcoin, trending on twitter and currently on Bitget pre-market is on TON network. This has called people's attention to other networks. Also, memecoins on base network and SOL are trending more than ETH networks memecoins.
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On May 11, gas fees on the Ethereum blockchain dropped to 6 Gwei - the last time such values were seen in January 2020. After the launch of the Dencun hardfork, the network continues to be inflationary. Over the past 24 hours, 716 ETH has been burned and 2,526 ETH has been issued. The coin's exchange rate is showing weakness, trading at $2900.
(https://i.ibb.co/hVQ0Rhq/photo-2024-05-11-14-32-38.jpg)
From this data we can also see that in the following year Ethereum costs increased again. Perhaps this was the influence of the price increase or the bull run season that occurred that year. Hopefully next year the bullrun will happen again and make many altcoins increase their prices.
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On May 11, gas fees on the Ethereum blockchain dropped to 6 Gwei - the last time such values were seen in January 2020. After the launch of the Dencun hardfork, the network continues to be inflationary. Over the past 24 hours, 716 ETH has been burned and 2,526 ETH has been issued. The coin's exchange rate is showing weakness, trading at $2900.
(https://i.ibb.co/hVQ0Rhq/photo-2024-05-11-14-32-38.jpg)
Wow that is low, I wish I had waited with my transactions.. Interesting to see what's going to happen in the future!!
Yes you saw Ethereum gas fee are very low that's true but Again gas fee increased. Ethereum and ethereum network was veey popular but gradually they are losting popularity due to high transection fee.
So thats place replaced by BSC, trc. etc network. I think Ethereum team if unable to fix gas fee problem then Ethereum will be unpopular.
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Wow that is low, I wish I had waited with my transactions.. Interesting to see what's going to happen in the future!!
Yes you saw Ethereum gas fee are very low that's true but Again gas fee increased. Ethereum and ethereum network was veey popular but gradually they are losting popularity due to high transection fee.
So thats place replaced by BSC, trc. etc network. I think Ethereum team if unable to fix gas fee problem then Ethereum will be unpopular.
As soon as ETH starts to be (maximally) in demand = instant gas rises. This is quite normal, it's not the first time I've observed this phenomenon. If there is a demand for translations - it is better to do them immediately. Rather than then waiting for the transfer price to drop, etc.
P.S. These are just my thoughts out loud, how you do things is up to you. But I think the essence of my words is perfectly clear. 8)
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I think Ethereum team if unable to fix gas fee problem then Ethereum will be unpopular.
I think it will take more than just expensive fees to kill Ethereum nowadays, especially with how abundant layer-2 projects are. I can see the mainchain transactions happening on Ethereum, then the rest happened on layer 2 or something. Compared to other blockchains, Ethereum is still one of the most secure and reliable if you compare it to something like Solana which gets an outage once in a year or so. I believe making smart contract calls cheaper is still a good idea though.
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I was about to do a transaction and the gas fee was very high! Any advice on how to get the lowest gas fees? I have looked at the heatmap, and I can see that at certain times and days, it's a bit lower. Any advice for a newbie?
Thanks!!
Use another coin that's not Ethereum. That's how you solve the problem.
Ethereum gas fees make the spikes caused by Bitcoin ordinals and BRC-20 to be marginal, by comparison.
You can use Polygon for example, it has very low fees and fast confirmation times, if you are stuck with using web3 services and cannot use Bitcoin (which I would've advised you do use otherwise).
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I think Ethereum team if unable to fix gas fee problem then Ethereum will be unpopular.
I think it will take more than just expensive fees to kill Ethereum nowadays, especially with how abundant layer-2 projects are. I can see the mainchain transactions happening on Ethereum, then the rest happened on layer 2 or something. Compared to other blockchains, Ethereum is still one of the most secure and reliable if you compare it to something like Solana which gets an outage once in a year or so. I believe making smart contract calls cheaper is still a good idea though.
You are safe, for now ethereum is a safe network. Unfortunately the gas fee is too high. Compared to Solana, which was shut down due to high traffic, Ethereum is safer. but I think the Solana team will also make improvements to the project so that it can compete with ethereum
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I think Ethereum team if unable to fix gas fee problem then Ethereum will be unpopular.
I think it will take more than just expensive fees to kill Ethereum nowadays, especially with how abundant layer-2 projects are. I can see the mainchain transactions happening on Ethereum, then the rest happened on layer 2 or something. Compared to other blockchains, Ethereum is still one of the most secure and reliable if you compare it to something like Solana which gets an outage once in a year or so. I believe making smart contract calls cheaper is still a good idea though.
You are safe, for now ethereum is a safe network. Unfortunately the gas fee is too high. Compared to Solana, which was shut down due to high traffic, Ethereum is safer. but I think the Solana team will also make improvements to the project so that it can compete with ethereum
You are right that Ethereum gas fees are very high, even though the Ethereum network is very safe, users will switch to networks with cheaper gas fees. We all know that many have switched to Binance smart chain, Solana, Tron etc. Maybe Solana and BNB will compete fiercely in the future to beat ethereum if the ethereum team doesn't immediately fix the problem, high gas fees
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You are right that Ethereum gas fees are very high, even though the Ethereum network is very safe, users will switch to networks with cheaper gas fees. We all know that many have switched to Binance smart chain, Solana, Tron etc. Maybe Solana and BNB will compete fiercely in the future to beat ethereum if the ethereum team doesn't immediately fix the problem, high gas fees
(https://i.postimg.cc/rmVH1Qhf/image.png)
This is today. Bitcoin and Ethereum networks. Do you really think that the fees are "very high" as you say?. Compared to BSC, Solana or Tron, fees are high. But they arent as high as used to be. But, if you want to compare transaction cost in Ethereum with BNB, it would correct to compare if both altcoins have same cost. BNB cost 6 times less than ETH. Decrease ETH transaction cost 6 times and compare it with transaction in BSC network. That would be fair. Otherwise your comparison sounds like "maintenance cost of Porsche 911 is higher than maintenance cost of VW Polo". It is wrong to compare things that have different value or cost.
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(https://i.postimg.cc/rmVH1Qhf/image.png)
This is today. Bitcoin and Ethereum networks. Do you really think that the fees are "very high" as you say?. Compared to BSC, Solana or Tron, fees are high. But they arent as high as used to be. But, if you want to compare transaction cost in Ethereum with BNB, it would correct to compare if both altcoins have same cost. BNB cost 6 times less than ETH. Decrease ETH transaction cost 6 times and compare it with transaction in BSC network. That would be fair. Otherwise your comparison sounds like "maintenance cost of Porsche 911 is higher than maintenance cost of VW Polo". It is wrong to compare things that have different value or cost.
Ethereum network fees always go up and down, depending on how crowded the network is too. However, in fact, at this time, Ethereum's fees are quite competitive with BSC and others. However, when the market started to rise, Ethereum fees also followed, and increased even more. Indeed, currently the fees are still reasonable, not yet high enough. It's just that compared to several months ago, sometimes ETH fees are only around 10 or even smaller.
but actually what will happen is the bullshit era of the next era. I remember during the bullish season last season where the Ethereum network fees were really crazy, hundreds of devices made it seem like it would be better for us to fail than to have to pay such a large fee, because the profits weren't there, there wasn't enough room to pay the fees.
Hopefully, with the better Ethereum network, future gwei fees won't be as extreme as last season when they increased. Yes, at least it is still natural that Ethereum network users are still quite loyal.
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Currently the fuel costs for making transactions on Ethereum have started to fall, you can see it https://etherscan.io/gastracker.
If you have assets to claim or want to send money using the Ethereum network then now is the right time because gas fees are falling.
It's nothing new. As soon as HYIP-projects appear (demanded by users) = instantly the gas fee rises. This is already a certain criterion for understanding the use of the network. Personally, it's not surprising to me, it's a common situation, so to speak. Similar is happening in the btc network now, a couple of weeks there was a strong demand for transfers = higher transfer fees, now everything is +/- as it should be initially.
P.S. Therefore, who needs to make translations, now is the most optimal time for me. 8)
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Currently the fuel costs for making transactions on Ethereum have started to fall, you can see it https://etherscan.io/gastracker.
If you have assets to claim or want to send money using the Ethereum network then now is the right time because gas fees are falling.
It's nothing new. As soon as HYIP-projects appear (demanded by users) = instantly the gas fee rises. This is already a certain criterion for understanding the use of the network. Personally, it's not surprising to me, it's a common situation, so to speak. Similar is happening in the btc network now, a couple of weeks there was a strong demand for transfers = higher transfer fees, now everything is +/- as it should be initially.
P.S. Therefore, who needs to make translations, now is the most optimal time for me. 8)
Isn't HYIP a kind of ponzi scheme? Maybe it's hype?
Ethereum's gwei is up and down maybe because of a few dense transactions not before when people clam for prizes then hundreds of thousands of people make transactions simultaneously then this is obviously gwei will be high.
But indeed this is common because while the fuel goes down the next day it can go up again in the Ethereum network.
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I thought that eth solves this high fees already due to transitioning to PoS? But it looks like it doesn't help at all. Fees are still usually very high.
Anyway, you can follow what bitmover suggested above. There are many wallets that offers cuztomizable fees.
All wallets offers customised gas fee. And the gas fee issue is still On the Ethereum network. The only thing solved with POS move is energy usage I think. For, I don't think any wallet can solve gas fee problem.
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All wallets offers customised gas fee. And the gas fee issue is still On the Ethereum network. The only thing solved with POS move is energy usage I think. For, I don't think any wallet can solve gas fee problem.
The wallet just let you pay the minimum fee possible i.e., the market fee
Pos can't solve the problem for high fees. There is a limited space for transactions in a block. And everyone wants their transactions to fit in the block. Some transactions are bigger than other ones, like token swaps. So, people pay high to get into a block
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All wallets offers customised gas fee. And the gas fee issue is still On the Ethereum network. The only thing solved with POS move is energy usage I think. For, I don't think any wallet can solve gas fee problem.
Wallets cant fix anything in the on-chain network, always there is a need for changes in the network protocols to establish change but this is not possible to manipulate maximum protocols due to security issues, ETH scalability issues are not new, and many proposals many upgrades still it causes sometimes a bottleneck in transaction processing due to the over and nonsystematic approach of Dapps, well we cant even blame the ecosystem projects as well, but solutions seem like working well these days like L2 (Base, Arbitrum, and OP some others as well), TBH when you think of high gas fee just avoid the transaction for a while.
If you cant then move on to the other solutions, also as there was mentioned about wallets, I won't prefer using a super low customized gas fee your transaction can fall into dead mode still there are some wallets to add transaction processing fees by boosting it with more charges but I haven't used any of them just heard of it.
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It's nothing new. As soon as HYIP-projects appear (demanded by users) = instantly the gas fee rises. This is already a certain criterion for understanding the use of the network. Personally, it's not surprising to me, it's a common situation, so to speak. Similar is happening in the btc network now, a couple of weeks there was a strong demand for transfers = higher transfer fees, now everything is +/- as it should be initially.
P.S. Therefore, who needs to make translations, now is the most optimal time for me. 8)
Right, when many hype coins or airdrop with claiming taking higher fees transaction and after its over fees of Ethereum return back to normal and last several days just spending few dollar for each time transaction.
The same with all network and BTC huge transaction taking bigger fees with network so slow when making transaction, but Ethereum fees transaction back to normal later after over with coins claiming even end.
Today fees transaction using Ethereum network back to normal with GWEI 5 and taking around $1 enough for sending coins with ERC20 network.
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I thought that eth solves this high fees already due to transitioning to PoS? But it looks like it doesn't help at all. Fees are still usually very high.
Anyway, you can follow what bitmover suggested above. There are many wallets that offers cuztomizable fees.
All wallets offers customised gas fee. And the gas fee issue is still On the Ethereum network. The only thing solved with POS move is energy usage I think. For, I don't think any wallet can solve gas fee problem.
and this will forever be the disadvantage for those casino that has this hgh fee specially ethereum and of course the top coin Bitcoin.
but also the problem is that there are so many coins that people can choose now like altcoins that does not only offers cheaper fee but faster transaction as well.
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If you're using a coin that only support for the use of Ethereum network then you have no alternative than to embrace the challenge on the transaction fee for this Ethereum network because its extremely high, except i some cases whereby you may discover for cheaper rates which is not common as well, while we have many other networks being more affordable than the Ethereum network itself, but some never mind on this, they still see it being affordable and uses the network.
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If you're using a coin that only support for the use of Ethereum network then you have no alternative than to embrace the challenge on the transaction fee for this Ethereum network because its extremely high, except i some cases whereby you may discover for cheaper rates which is not common as well, while we have many other networks being more affordable than the Ethereum network itself, but some never mind on this, they still see it being affordable and uses the network.
There is interoperability between ethereum chains and other chains which are mostly layer 2, you don't have to use ethereum completely and depend on it before you interact with ethereum. For instance, you can bridge your tokens from Ethereum to Matic or optimism which has a cheaper fees in transactions, do all you want to do and complete everything and then transfer your asset from other layers to ethereum when you are completely done with everything you want to do over there.
That way, you will only spend less fees on transactions especially when you have many interactions but the side effects of this is that bridges are quick to hack, they are not immune and safe to use, we have had many reported cases of millions drained from bridges.
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If you're using a coin that only support for the use of Ethereum network then you have no alternative than to embrace the challenge on the transaction fee for this Ethereum network because its extremely high, except i some cases whereby you may discover for cheaper rates which is not common as well, while we have many other networks being more affordable than the Ethereum network itself, but some never mind on this, they still see it being affordable and uses the network.
Ethereum Network glass fees was very high but now a days we are looking Ethereum network glass fees are reduced from previous. Ethereum network was very popular once upon a time but I think for its glass fee people turned from Ethereum network.
Now huge network available and that's glass fees are very low like, TRC network, Solana, Bep etc. I think if Ethereum network glass fees were low again then it's popularity will increase again.
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It is a thing to be concerned about, that the ethereum gas fees we thought had been reduced, are not actually.
Last month, I was charged up to $8 for sending a token off an exchange. That's annoying that made me think that, had I known I would have left the token on an exchange instead. But how could someone leave it, knowing the risk involved in having your crypto assets kept on an exchange.
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Ethereum's gwei is up and down maybe because of a few dense transactions not before when people clam for prizes then hundreds of thousands of people make transactions simultaneously then this is obviously gwei will be high.
But indeed this is common because while the fuel goes down the next day it can go up again in the Ethereum network.
That's right. Situations repeat themselves, there is absolutely no need to panic about it. I've noticed a tendency, as soon as a large project makes its own token distribution = the excitement in the ETH network reaches peak values.
P.S. Who is not satisfied with the price for translation - it is best to be patient and do not make hasty actions. It's only a matter of time before things get back to normal. ???
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That's right. Situations repeat themselves, there is absolutely no need to panic about it. I've noticed a tendency, as soon as a large project makes its own token distribution = the excitement in the ETH network reaches peak values.
P.S. Who is not satisfied with the price for translation - it is best to be patient and do not make hasty actions. It's only a matter of time before things get back to normal. ???
Yes, this speeti has become a normal thing. It's just that perhaps the situation is a bit different from a few years ago where the Etheruem network was still the main one and there weren't many competitors. Currently, there are several networks that can compete with these platforms. But still, as the Oled One, it can't just be left behind. Moreover, Ethereum is now also experiencing quite good regional development.
Oh yes, related to the gas fee of the Etheruem network, sat ii, the difference is very large, even very small. I don't know if this can last much longer or not, but it's really good.
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Yes, when you compare April with June and July, there is a big difference. Now it is already what it was in a sustainable and constant low value. There are websites where it can be followed in detail. I expect regardless of the value of Ethereum that transaction costs will gradually decrease to less than $0.1.
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Yes, when you compare April with June and July, there is a big difference. Now it is already what it was in a sustainable and constant low value. There are websites where it can be followed in detail.
That's because the growth of the ETH ecosystem is stagnating or actually decreasing, which has an impact on decreasing tx queues on this network.
I expect regardless of the value of Ethereum that transaction costs will gradually decrease to less than $0.1.
The lowest fee recorded in the last 2 years is this year, was avg. 4gwei on June 29.
If you want to reach an avg. tx fee of $0.1, it should be the recommended 2gwei with ETH price equals around @$2,500 or 4gwei with ETH price equals $1,250.
Edit:
ETH gas history chart ;) https://ycharts.com/indicators/ethereum_average_gas_price
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Yes, when you compare April with June and July, there is a big difference. Now it is already what it was in a sustainable and constant low value. There are websites where it can be followed in detail.
That's because the growth of the ETH ecosystem is stagnating or actually decreasing, which has an impact on decreasing tx queues on this network.
I expect regardless of the value of Ethereum that transaction costs will gradually decrease to less than $0.1.
The lowest fee recorded in the last 2 years is this year, was avg. 4gwei on June 29.
If you want to reach an avg. tx fee of $0.1, it should be the recommended 2gwei with ETH price equals around @$2,500 or 4gwei with ETH price equals $1,250.
Edit:
ETH gas history chart ;) https://ycharts.com/indicators/ethereum_average_gas_price
It indicates the average fee per day, although there were time intervals at the end of June when the fee dropped to 1.05 and 1.1 gwei. Honestly, I haven't seen such low fees in the ETH network for a long time. According to the Gas price graph, the current gwei in the ETH network is close to the level that was in 2020.
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It indicates the average fee per day, although there were time intervals at the end of June when the fee dropped to 1.05 and 1.1 gwei. Honestly, I haven't seen such low fees in the ETH network for a long time. According to the Gas price graph, the current gwei in the ETH network is close to the level that was in 2020.
I agree. The fees are very low now.
I have some USDT which I want to convert to ETH. It is a good time now.
If anyone wants to bridge some coins from L2 back to main chain, or the other way around, this is also a good time
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If anyone wants to bridge some coins from L2 back to main chain, or the other way around, this is also a good time
I don't know if there are such stats or not, but it would be interesting to know what effect low fees in the ETH network have on the popularity of L2 projects. It seems to me that if the low fees in the ETH network remain for a long time, there will surely be an outflow from L2 projects to those users who previously stopped using the ETH network because of high fees.
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There have been many suggestions given by seniors here and read all the suggestions here including hours, days and PoS in my opinion all the suggestions are good just beginners execute them.
I think the transaction fee on Ethereum is already cheap if it's just for exchanging and sending but if it's for bridging it's different again.
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There have been many suggestions given by seniors here and read all the suggestions here including hours, days and PoS in my opinion all the suggestions are good just beginners execute them.
I think the transaction fee on Ethereum is already cheap if it's just for exchanging and sending but if it's for bridging it's different again.
Current gas fees up to 12 Gwei than usually last several days ago dropped under 3 GWEI, recently still on cheapest price of GWEI than must paid above $5 for every time sending our coins with ERC20 network.
I think need to take moment for sending our coins with ERC20 network when moment with lower fees for transaction, the current fees of Ethereum still not stable yet and moving up or down significant make us need to sell our coins only listed on dapp when lower gas fees.
I have my ERC20 coins and want to sell on CEX exchange tomorrow, wish gas fees could dropping few percent how to manage payment more lower fees.
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If anyone wants to bridge some coins from L2 back to main chain, or the other way around, this is also a good time
I don't know if there are such stats or not, but it would be interesting to know what effect low fees in the ETH network have on the popularity of L2 projects. It seems to me that if the low fees in the ETH network remain for a long time, there will surely be an outflow from L2 projects to those users who previously stopped using the ETH network because of high fees.
Looks like people are only using L2 to get airdrops ;D
If they stop, I think the usage will drop a lot...
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There have been many suggestions given by seniors here and read all the suggestions here including hours, days and PoS in my opinion all the suggestions are good just beginners execute them.
I think the transaction fee on Ethereum is already cheap if it's just for exchanging and sending but if it's for bridging it's different again.
Current gas fees up to 12 Gwei than usually last several days ago dropped under 3 GWEI, recently still on cheapest price of GWEI than must paid above $5 for every time sending our coins with ERC20 network.
I think need to take moment for sending our coins with ERC20 network when moment with lower fees for transaction, the current fees of Ethereum still not stable yet and moving up or down significant make us need to sell our coins only listed on dapp when lower gas fees.
I have my ERC20 coins and want to sell on CEX exchange tomorrow, wish gas fees could dropping few percent how to manage payment more lower fees.
You have to be a little patient waiting to get low gwei because sometimes the price of gwei in each private wallet is different from that on the Ethereum website and in addition the gwai in each private wallet is different so if you can try checking in other private wallets such as OKX, Safepal and TrusWallet
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Current gas fees up to 12 Gwei than usually last several days ago dropped under 3 GWEI, recently still on cheapest price of GWEI than must paid above $5 for every time sending our coins with ERC20 network.
You have to be a little patient waiting to get low gwei because sometimes the price of gwei in each private wallet is different from that on the Ethereum website and in addition the gwai in each private wallet is different so if you can try checking in other private wallets such as OKX, Safepal and TrusWallet
In fact, this time, the fee for Ethereum has increased significantly compared to last season. In fact, it's only 3 - 5 gwei. This is really low. Ethereum understands that there are already many other networks that are competitive and this is what Ethereum must do to survive and continue to exist. Well now Gwei is not that tall anymore. I don't know when Gwei's transfer fee will be that low. Because usually, the transfer fee for Ethereum will increase as the price of Ethereum increases and also the number of people on the network increases. So it will also affect the gwei fees charged.
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Current gas fees up to 12 Gwei than usually last several days ago dropped under 3 GWEI, recently still on cheapest price of GWEI than must paid above $5 for every time sending our coins with ERC20 network.
You have to be a little patient waiting to get low gwei because sometimes the price of gwei in each private wallet is different from that on the Ethereum website and in addition the gwai in each private wallet is different so if you can try checking in other private wallets such as OKX, Safepal and TrusWallet
In fact, this time, the fee for Ethereum has increased significantly compared to last season. In fact, it's only 3 - 5 gwei. This is really low. Ethereum understands that there are already many other networks that are competitive and this is what Ethereum must do to survive and continue to exist. Well now Gwei is not that tall anymore. I don't know when Gwei's transfer fee will be that low. Because usually, the transfer fee for Ethereum will increase as the price of Ethereum increases and also the number of people on the network increases. So it will also affect the gwei fees charged.
Gwei is unstable when Ethereum experiences price changes such as when the price drops and increases the impact of Bitcoin gwei will normalize when the Ethereum price does not experience significant changes and there are other factors such as time, day and transaction density so you have to be patient.
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Gwei is unstable when Ethereum experiences price changes such as when the price drops and increases the impact of Bitcoin gwei will normalize when the Ethereum price does not experience significant changes and there are other factors such as time, day and transaction density so you have to be patient.
Yes, that's usually what happens. Gwei will change drastically as the price of Ethereum changes. especially when ETH experienced a rapid increase during the altcoins season, when many transactions occurred on the network, there was also a significant increase in gwei on the Ethereum network. And this has always been a weakness of the Ethereum network compared to other networks, where currently there are far more competitors.
Oh yeah, for now, this is the lowest Gwei I've ever seen. It's only 2gwei for low and average. Wow
(https://talkimg.com/images/2024/07/13/oetOq.png)
Source: https://etherscan.io/gastracker
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Oh yeah, for now, this is the lowest Gwei I've ever seen. It's only 2gwei for low and average. Wow
Thanks, I plan to move some of my domain NFTs from polygon to ethereum if high fees hit this rate. Maybe there is a chance today it will be 2gwei. If it's on the ETH network, maybe I'd get a higher bidding price on the NFT market. ;D
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Gwei is unstable when Ethereum experiences price changes such as when the price drops and increases the impact of Bitcoin gwei will normalize when the Ethereum price does not experience significant changes and there are other factors such as time, day and transaction density so you have to be patient.
Yes, that's usually what happens. Gwei will change drastically as the price of Ethereum changes. especially when ETH experienced a rapid increase during the altcoins season, when many transactions occurred on the network, there was also a significant increase in gwei on the Ethereum network. And this has always been a weakness of the Ethereum network compared to other networks, where currently there are far more competitors.
Oh yeah, for now, this is the lowest Gwei I've ever seen. It's only 2gwei for low and average. Wow
(https://talkimg.com/images/2024/07/13/oetOq.png)
Source: https://etherscan.io/gastracker
In fact, I am sometimes surprised by the gass fee on Ethereum, I once made an experiment by making a transaction before I made a transaction I saw the gwei on the etherscan gastracker and just in time the gwei was in a very low situation and I tried to send coins to the exchange (CEX) from a personal wallet after I made the shipment it turned out that the gwei on the etherscan gastracker was not the same as the gwei I spent when sending coins, it turned out that after I checked it turned out from each personal wallet such as TrusWallet, OKX and safepalwallet all offer different gwei (gasfee).
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Gwei is unstable when Ethereum experiences price changes such as when the price drops and increases the impact of Bitcoin gwei will normalize when the Ethereum price does not experience significant changes and there are other factors such as time, day and transaction density so you have to be patient.
Yes, that's usually what happens. Gwei will change drastically as the price of Ethereum changes. especially when ETH experienced a rapid increase during the altcoins season, when many transactions occurred on the network, there was also a significant increase in gwei on the Ethereum network. And this has always been a weakness of the Ethereum network compared to other networks, where currently there are far more competitors.
Oh yeah, for now, this is the lowest Gwei I've ever seen. It's only 2gwei for low and average. Wow
(https://talkimg.com/images/2024/07/13/oetOq.png)
Source: https://etherscan.io/gastracker
In fact, I am sometimes surprised by the gass fee on Ethereum, I once made an experiment by making a transaction before I made a transaction I saw the gwei on the etherscan gastracker and just in time the gwei was in a very low situation and I tried to send coins to the exchange (CEX) from a personal wallet after I made the shipment it turned out that the gwei on the etherscan gastracker was not the same as the gwei I spent when sending coins, it turned out that after I checked it turned out from each personal wallet such as TrusWallet, OKX and safepalwallet all offer different gwei (gasfee).
From here we can learn a lesson, before making transactions on the Ethereum network, we must first check the gas fees from various platforms. And of course, if we can choose, we have to choose which one is the cheapest and has the fastest solution.
Ethereum gas fees are known to be expensive, but if we can take the right moment we can also get cheap gas fees.
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Gwei is unstable when Ethereum experiences price changes such as when the price drops and increases the impact of Bitcoin gwei will normalize when the Ethereum price does not experience significant changes and there are other factors such as time, day and transaction density so you have to be patient.
Yes, that's usually what happens. Gwei will change drastically as the price of Ethereum changes. especially when ETH experienced a rapid increase during the altcoins season, when many transactions occurred on the network, there was also a significant increase in gwei on the Ethereum network. And this has always been a weakness of the Ethereum network compared to other networks, where currently there are far more competitors.
Oh yeah, for now, this is the lowest Gwei I've ever seen. It's only 2gwei for low and average. Wow
(https://talkimg.com/images/2024/07/13/oetOq.png)
Source: https://etherscan.io/gastracker
In fact, I am sometimes surprised by the gass fee on Ethereum, I once made an experiment by making a transaction before I made a transaction I saw the gwei on the etherscan gastracker and just in time the gwei was in a very low situation and I tried to send coins to the exchange (CEX) from a personal wallet after I made the shipment it turned out that the gwei on the etherscan gastracker was not the same as the gwei I spent when sending coins, it turned out that after I checked it turned out from each personal wallet such as TrusWallet, OKX and safepalwallet all offer different gwei (gasfee).
From here we can learn a lesson, before making transactions on the Ethereum network, we must first check the gas fees from various platforms. And of course, if we can choose, we have to choose which one is the cheapest and has the fastest solution.
Ethereum gas fees are known to be expensive, but if we can take the right moment we can also get cheap gas fees.
Yes, that's right, that's why every time I want to make a transaction on the Ethereum network I check every personal wallet that I use, the goal is the same but we have to be smart to take advantage of the facilities available and the offers offered by each personal wallet platform.
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From here we can learn a lesson, before making transactions on the Ethereum network, we must first check the gas fees from various platforms. And of course, if we can choose, we have to choose which one is the cheapest and has the fastest solution.
Ethereum gas fees are known to be expensive, but if we can take the right moment we can also get cheap gas fees.
Yes, that's right, that's why every time I want to make a transaction on the Ethereum network I check every personal wallet that I use, the goal is the same but we have to be smart to take advantage of the facilities available and the offers offered by each personal wallet platform.
Many people have been complaining about the issue of Ethereum gas fees for a long time, but it seems like this problem will be difficult to solve.
Firstly the Ethereum Blockchain has become a favorite of many people, Ethereum will not reduce this gas rate because this is their advantage too, secondly there are many coins on this network.
What is certain is that there will be a lot of transactions here, the density of transactions on the Ethereum Blockchain will automatically increase the value of the Gas Fee itself.
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From here we can learn a lesson, before making transactions on the Ethereum network, we must first check the gas fees from various platforms. And of course, if we can choose, we have to choose which one is the cheapest and has the fastest solution.
Ethereum gas fees are known to be expensive, but if we can take the right moment we can also get cheap gas fees.
Yes, that's right, that's why every time I want to make a transaction on the Ethereum network I check every personal wallet that I use, the goal is the same but we have to be smart to take advantage of the facilities available and the offers offered by each personal wallet platform.
Many people have been complaining about the issue of Ethereum gas fees for a long time, but it seems like this problem will be difficult to solve.
Firstly the Ethereum Blockchain has become a favorite of many people, Ethereum will not reduce this gas rate because this is their advantage too, secondly there are many coins on this network.
What is certain is that there will be a lot of transactions here, the density of transactions on the Ethereum Blockchain will automatically increase the value of the Gas Fee itself.
The gas fee offered by Ethereum is now very cheap if Ethereum upgrades and lowers the transaction gas fee then Ethereum may no longer be called layer 1 but layer 2 like Arbitrum and Optimism and this decrease in gas fee also affects the validator's income, Ethereum ges fees are considered expensive only for people who don't have funds/assets like Justin Sun if we already have funds/assets like Justin Sun maybe it won't matter about transaction gas fees anymore :)
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The gas fee offered by Ethereum is now very cheap if Ethereum upgrades and lowers the transaction gas fee then Ethereum may no longer be called layer 1 but layer 2 like Arbitrum and Optimism and this decrease in gas fee also affects the validator's income, Ethereum ges fees are considered expensive only for people who don't have funds/assets like Justin Sun if we already have funds/assets like Justin Sun maybe it won't matter about transaction gas fees anymore :)
For big investors, of course, never consider Ethereum Gas Fee expensive, especially if you call Justin Sun. But for me as a small investor feels Ethereum gas fee is expensive, so I use other coins that are cheaper such as BNB, Sol, TRX. Because after all my benefits are small, unlike the benefits of large investors or whalas.
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The gas fee offered by Ethereum is now very cheap if Ethereum upgrades and lowers the transaction gas fee then Ethereum may no longer be called layer 1 but layer 2 like Arbitrum and Optimism and this decrease in gas fee also affects the validator's income, Ethereum ges fees are considered expensive only for people who don't have funds/assets like Justin Sun if we already have funds/assets like Justin Sun maybe it won't matter about transaction gas fees anymore :)
For big investors, of course, never consider Ethereum Gas Fee expensive, especially if you call Justin Sun. But for me as a small investor feels Ethereum gas fee is expensive, so I use other coins that are cheaper such as BNB, Sol, TRX. Because after all my benefits are small, unlike the benefits of large investors or whalas.
I am now start to not use Ethereum because of its Bull Sh@t gas fee , recently that I need to transfer my funds from Exodus to Binance and Damn the fee is almost half of the amount Am going to send lol.
thats crazy and from here I will never use ethereum again , there are so much coins to invest and use why should we use this badest of all?
Oh yeah, for now, this is the lowest Gwei I've ever seen. It's only 2gwei for low and average. Wow
Thanks, I plan to move some of my domain NFTs from polygon to ethereum if high fees hit this rate. Maybe there is a chance today it will be 2gwei. If it's on the ETH network, maybe I'd get a higher bidding price on the NFT market. ;D
good luck with that mate , hope you'll get what you aiming (crossing my fingers)
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The gas fee offered by Ethereum is now very cheap if Ethereum upgrades and lowers the transaction gas fee then Ethereum may no longer be called layer 1 but layer 2 like Arbitrum and Optimism and this decrease in gas fee also affects the validator's income, Ethereum ges fees are considered expensive only for people who don't have funds/assets like Justin Sun if we already have funds/assets like Justin Sun maybe it won't matter about transaction gas fees anymore :)
For big investors, of course, never consider Ethereum Gas Fee expensive, especially if you call Justin Sun. But for me as a small investor feels Ethereum gas fee is expensive, so I use other coins that are cheaper such as BNB, Sol, TRX. Because after all my benefits are small, unlike the benefits of large investors or whalas.
We are the same, when I want to withdraw from CEX I always pay attention to the fee especially now that the USDT withdrawal fee is almost the same all around $1 besides Erc20 but if I withdraw from CEX on the Erc20 network the fee is above $5 but I accept local CEX which withdrawal fee is below $2 at the current Ethereum price.
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The gas fee offered by Ethereum is now very cheap if Ethereum upgrades and lowers the transaction gas fee then Ethereum may no longer be called layer 1 but layer 2 like Arbitrum and Optimism and this decrease in gas fee also affects the validator's income, Ethereum ges fees are considered expensive only for people who don't have funds/assets like Justin Sun if we already have funds/assets like Justin Sun maybe it won't matter about transaction gas fees anymore :)
For big investors, of course, never consider Ethereum Gas Fee expensive, especially if you call Justin Sun. But for me as a small investor feels Ethereum gas fee is expensive, so I use other coins that are cheaper such as BNB, Sol, TRX. Because after all my benefits are small, unlike the benefits of large investors or whalas.
If there was another option besides the Ethereum Network, I would do that too. Choosing another network that has cheaper fees, for me Ethereum Gas is indeed too high when compared to other networks.
Maybe it's true that transactions on the Ethereum Network are only for rich people who have a lot of money, not for us haha.
Crypto competition is very tight, if there is a better option then people will choose it and will leave what they consider unprofitable.
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I was about to do a transaction and the gas fee was very high! Any advice on how to get the lowest gas fees? I have looked at the heatmap, and I can see that at certain times and days, it's a bit lower. Any advice for a newbie?
Thanks!!
It's been quite a bit of time since you asked this question, and besides the answers you already got, i will still want to add that if you are either a newbie in this space and or without alot of money, the ethereum blockchain is not the best chain to carry out transactions on, its one of the most expensive chains to be honest.
I personally was a great lover of ethereum, in fact, I avoided crypto assets built on other blockchains because to me, I usually never used to see them as authenthic, but as transacting on ethereum became more and more expensive, I had no choice but to stop buying and or selling assets on the chain specially on decentralized exchanges, I shifted my focus to other chains with better fee structure.
Even after ethereum was upgraded from pow to pos, majority of us thought the fees will come down, but unfortunately, it has remains significantly high.
So to be a successful ethereum user, you just have to be a crypto whale, else; use other chains with lower fees.
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As a newbie, etheruem blockchain may not be suitable options when carrying out transactions except you huge capital or you love token listed on its blockchain. There are other blockchain options to get fairer transaction fees, but it depends, firstly on your chosen tokens, and secondly, the level of your capital
You can also dive into other chains to get some exposure and compare fees. This just my thoughts and it is not a financial advice to buy coins/tokens outside your choice
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As a newbie, etheruem blockchain may not be suitable options when carrying out transactions except you huge capital or you love token listed on its blockchain. There are other blockchain options to get fairer transaction fees, but it depends, firstly on your chosen tokens, and secondly, the level of your capital
You can also dive into other chains to get some exposure and compare fees. This just my thoughts and it is not a financial advice to buy coins/tokens outside your choice
Maybe for as tokens that have contracts on other networks such as the Shiba token which also has a contract on the BSC network but there are also tokens that only have one contract such as the pepe token which only has a contract on the Ethereum network.
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Since last one month ago Gas fees on ethereum have decreasing drastically than usually must paid above $10 every transaction right now we can pay more lower fees for sending, swap or bridge any coins with ERC20 network. Last update I checked taken under $1 for sending coins with ethereum network regarding Gas fee only 3 Gwei as normal and taken around few minutes for transaction completing.
I update with Gas fees every day behind have small coins of ethereum network on several wallet, I have ideas to put all in one wallet and waiting will ability have more lower fees for transaction with ethereum coin network?
its last gas fees update
(https://talkimg.com/images/2024/07/22/4vrA8.png)
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This is true that the gas fee is very high of the ETH wallet and this is not good becasue this is the time that the new projects will comes in the market and that will pay good amount of coins but the gas fee is high and they select the BNB or other wallet which fee is very low.
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Since last one month ago Gas fees on ethereum have decreasing drastically than usually must paid above $10 every transaction right now we can pay more lower fees for sending, swap or bridge any coins with ERC20 network. Last update I checked taken under $1 for sending coins with ethereum network regarding Gas fee only 3 Gwei as normal and taken around few minutes for transaction completing.
I update with Gas fees every day behind have small coins of ethereum network on several wallet, I have ideas to put all in one wallet and waiting will ability have more lower fees for transaction with ethereum coin network?
its last gas fees update
(https://talkimg.com/images/2024/07/22/4vrA8.png)
I think with gwei now low enough it won't be so hard when you're sending on the Ethereum network.
A few days ago doing undelegates for EIGEN did not require high fees it was quite low so honestly happy now ETH gas is getting lower and stable.
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The unknown person paid $89,000 in fees to transfer 0.87 ETH.
Over the weekend, the cryptan sent 0.87 ETH to another address, paying a commission of 34.6 ETH ($88,976 at the time) for the transaction. Now the wallet from which the funds were sent does not hold any assets. Back on the night of August 12, it had more than $180,000 on it.
It is noteworthy that on the same day, commissions in the Ethereum network updated the minimum of 2020, falling to 1 Gwei.
(https://i.postimg.cc/5tq1LjmC/image.png)
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The unknown person paid $89,000 in fees to transfer 0.87 ETH.
.....
Wait, is this an error on the part of the ETH sender?
Or is this just manipulation from above that causes transaction fees on the Ethereum chain?
Logically, if I am going to send ETH, I will definitely ask for approval to send it and see the Gas fee used, did the ETH sender see the previous higher fee and immediately approve it?
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The unknown person paid $89,000 in fees to transfer 0.87 ETH.
.....
Wait, is this an error on the part of the ETH sender?
Or is this just manipulation from above that causes transaction fees on the Ethereum chain?
Logically, if I am going to send ETH, I will definitely ask for approval to send it and see the Gas fee used, did the ETH sender see the previous higher fee and immediately approve it?
Yes, we have to agree to the fees that will be charged in the transaction, if we do not agree to it, the transaction will not happen. Maybe it is carelessness that makes someone just send without reading how much the transaction fee is. This must be considered in making crypto transactions, be careful and really understand every command in the transaction.
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The unknown person paid $89,000 in fees to transfer 0.87 ETH.
.....
Wait, is this an error on the part of the ETH sender?
Or is this just manipulation from above that causes transaction fees on the Ethereum chain?
Logically, if I am going to send ETH, I will definitely ask for approval to send it and see the Gas fee used, did the ETH sender see the previous higher fee and immediately approve it?
Yes, we have to agree to the fees that will be charged in the transaction, if we do not agree to it, the transaction will not happen. Maybe it is carelessness that makes someone just send without reading how much the transaction fee is. This must be considered in making crypto transactions, be careful and really understand every command in the transaction.
As you concluded, for transactions like that is very odd because it sends a little funds but the cost is dozens of the funds sent. Do you think the transaction is suspicious?
0.87 ETH worth 2400 dollars with a transaction fee of around 89000 dollars, this is funny, strange and how can it be like that?
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The unknown person paid $89,000 in fees to transfer 0.87 ETH.
.....
Wait, is this an error on the part of the ETH sender?
Or is this just manipulation from above that causes transaction fees on the Ethereum chain?
Logically, if I am going to send ETH, I will definitely ask for approval to send it and see the Gas fee used, did the ETH sender see the previous higher fee and immediately approve it?
Yes, we have to agree to the fees that will be charged in the transaction, if we do not agree to it, the transaction will not happen. Maybe it is carelessness that makes someone just send without reading how much the transaction fee is. This must be considered in making crypto transactions, be careful and really understand every command in the transaction.
As you concluded, for transactions like that is very odd because it sends a little funds but the cost is dozens of the funds sent. Do you think the transaction is suspicious?
0.87 ETH worth 2400 dollars with a transaction fee of around 89000 dollars, this is funny, strange and how can it be like that?
Reading your comments is correct, this is a strange transaction. And this is the first time I see it. I agree with both of you, why should we agree to a transaction fee that is tens of times greater than the assets we send. This is really strange.
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As a newbie, etheruem blockchain may not be suitable options when carrying out transactions except you huge capital or you love token listed on its blockchain. There are other blockchain options to get fairer transaction fees, but it depends, firstly on your chosen tokens, and secondly, the level of your capital
You can also dive into other chains to get some exposure and compare fees. This just my thoughts and it is not a financial advice to buy coins/tokens outside your choice
What relationship does being a newbie and the capital of this individual have with the ETH network, none.
I think that this whole idea that a fee is expensive or cheap is related to the low individual activity of many users who have never made an international transfer in their life and in the case of the fees of the relative rates that should not exceed 1% to 3% on the correct average of what you should pay, then, if you have the priority to send, it based on 5%-4%.
That's all, that's why the ETH network, which had a collapse with the Gas Fee, survived, because individuals immediately adapt to those factors, that's all.
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this topic has been discussed many times on many forums and everyone has many different opinions But in fact, when some sharp sales happen, there is no point at all in looking at the price of gas because if you don’t buy some coin at this very moment, you won’t earn anything And even if it turns out that you can give 50-100 dollars for gas, that’s okay It means you’re ready to give this money for them Well, you give such a lot of money because you want to earn a lot of money too This can be called business as usual and nothing more.
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The unknown person paid $89,000 in fees to transfer 0.87 ETH.
.....
Wait, is this an error on the part of the ETH sender?
Or is this just manipulation from above that causes transaction fees on the Ethereum chain?
Logically, if I am going to send ETH, I will definitely ask for approval to send it and see the Gas fee used, did the ETH sender see the previous higher fee and immediately approve it?
Yes, we have to agree to the fees that will be charged in the transaction, if we do not agree to it, the transaction will not happen. Maybe it is carelessness that makes someone just send without reading how much the transaction fee is. This must be considered in making crypto transactions, be careful and really understand every command in the transaction.
As you concluded, for transactions like that is very odd because it sends a little funds but the cost is dozens of the funds sent. Do you think the transaction is suspicious?
0.87 ETH worth 2400 dollars with a transaction fee of around 89000 dollars, this is funny, strange and how can it be like that?
.... why should we agree to a transaction fee that is tens of times greater than the assets we send. This is really strange.
I have a question for you, can this Ethereum gas fee be manipulated by 2 wallets who send Ethereum coins?
Because when referring to what is said by @nikefit_7777 is very likely to be manipulation but can this blockchain be manipulated?
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I use to advise on this that as long as you're making use of the Ethereum network, you will have to understand that the network of Ethereum has its own special fee customized for the rate it charges being different from what many others are charging, but what keep on surprising me is the fact that despite this high gas fee, many new projects were still using their network all because they wanted their users to hold their coins or tokens.
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I use to advise on this that as long as you're making use of the Ethereum network, you will have to understand that the network of Ethereum has its own special fee customized for the rate it charges being different from what many others are charging, but what keep on surprising me is the fact that despite this high gas fee, many new projects were still using their network all because they wanted their users to hold their coins or tokens.
Ethereum is more secured than any other EVM network you can ever think of. In addition, Ethereum has community that turn up for projects and support them unlike other network communities that are known for rug and scam and the community don't support little projects that want their support.
Another reasons is ethereum network fee is high compare to others and that even discourage scammers from trying to inflate their malicious activities into the network, they rather stay in places where fees are low and thats why you see that Solana is one of the cheapest place many scammers exist especially the meme communities.
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I thought that eth solves this high fees already due to transitioning to PoS? But it looks like it doesn't help at all. Fees are still usually very high.
Anyway, you can follow what bitmover suggested above. There are many wallets that offers cuztomizable fees.
Yes, when Ethereum moved to Proof of Stake (PoS), it tried to reduce gas fees in some cases, but gas fees can still be high at times. PoS essentially increases the energy efficiency and security of the network, but it is not a complete solution to reducing gas fees.
Some points related to fees:
1.PoS Upgrade: While Ethereum's PoS upgrade (such as Ethereum 2.0) is intended to improve the scalability and performance of the network, further improvements may be required to reduce fees.
In addition, there are various proposals and technological upgrades to reduce Ethereum fees that may be implemented over time. It depends on market conditions and technological developments, so you can always try to control your transaction fees by using the latest information and tools.
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Another reasons is ethereum network fee is high compare to others and that even discourage scammers from trying to inflate their malicious activities into the network, they rather stay in places where fees are low and thats why you see that Solana is one of the cheapest place many scammers exist especially the meme communities.
See now Ethereum network fees are already low even below 1 GWEI now.
Fraud is always everywhere even though the ETH network which used to be high, there are still many scammers spreading there they have capital because it is certain that they will get their victims.
So now feel relieved because the fees are getting lower again.
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See now Ethereum network fees are already low even below 1 GWEI now.
Seriously, this is true. Wow, I'm really surprised by this, it's really low. Even though Ethereum gas fees are known to be quite expensive, but indeed in this season, it has changed after layer 2 and some developments in Ethereum itself. It should be like that, otherwise, the Ethereum network will be left behind by its competitors. Even now, besides Tron, BSC, and Solana, TON Network is also growing. This will be a tight competition again now, it's just a matter of which one provides a much greater influence and benefits, as well as much better project development, so that it can attract more new devs to use their network.
https://etherscan.io/gastracker
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Another reasons is ethereum network fee is high compare to others and that even discourage scammers from trying to inflate their malicious activities into the network, they rather stay in places where fees are low and thats why you see that Solana is one of the cheapest place many scammers exist especially the meme communities.
See now Ethereum network fees are already low even below 1 GWEI now.
Fraud is always everywhere even though the ETH network which used to be high, there are still many scammers spreading there they have capital because it is certain that they will get their victims.
So now feel relieved because the fees are getting lower again.
Yes, ethereum seems to have solved its problem by lowering the gas fee. This is very good for us. Because for years we have always seen and many people complain about the high gas fee of ethereum.
Talking about fraud, it doesn't really matter whether the gas fee is high or low, because we also see fraud in the same
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Another reasons is ethereum network fee is high compare to others and that even discourage scammers from trying to inflate their malicious activities into the network, they rather stay in places where fees are low and thats why you see that Solana is one of the cheapest place many scammers exist especially the meme communities.
See now Ethereum network fees are already low even below 1 GWEI now.
Fraud is always everywhere even though the ETH network which used to be high, there are still many scammers spreading there they have capital because it is certain that they will get their victims.
So now feel relieved because the fees are getting lower again.
Yes, ethereum seems to have solved its problem by lowering the gas fee. This is very good for us. Because for years we have always seen and many people complain about the high gas fee of ethereum.
Talking about fraud, it doesn't really matter whether the gas fee is high or low, because we also see fraud in the same
Yeah a lot of the community complained about the high ETH gas fees a few years ago and even gwei can be 100 more if it's a crazy fee increase, so now we can enjoy lower fees, meaning there is no heavier burden when making transactions on the Ethereum network.
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When I first found out the cryptocurrency that was in my environment discussed how difficult they were to look for Ethereum fees that were getting more and more expensive, is this because of the effects of Ethereum which every day the price rises? Maybe when viewed from the first for the cheap Ethereum, the price of the fee is also cheap, but if Ethereum is expensive then for the fee it is also expensive, is this the law of conservation of Crypto trade?
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When I first found out the cryptocurrency that was in my environment discussed how difficult they were to look for Ethereum fees that were getting more and more expensive, is this because of the effects of Ethereum which every day the price rises? Maybe when viewed from the first for the cheap Ethereum, the price of the fee is also cheap, but if Ethereum is expensive then for the fee it is also expensive, is this the law of conservation of Crypto trade?
ethereum gas fee is currently cheap my friend, you can check it. It seems that the ethereum team has made a lot of improvements so that they can solve this problem. so we don't need to complain anymore about the expensive gas fee.
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Use the electrum fee tracker as already mentioned will help including the kind of wallet you're using which may permit for making adjustment on any fee, however we must never forget that we may likely not to see the Ethereum network fee as the same as we have in other networks like bitcoin and TRON network, which also indicated that no matter how low you have it with Ethereum network, it may not be as low compared to other networks.
I am wondering why the etheruem network transactions fees is continuously very high, compare to other networks fee.
I wish I can get a genuine reason for this high gas fee all the time because it look like there may be no end to this high fees. When I heard that etheruem network has migrated to POS I thought that the transaction fees will be reduced but fees remains the same.
It is very clear why new start projects are moving to other networks, new projects can't afford the etheruem fees when sending their native token to investors/users.
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When I first found out the cryptocurrency that was in my environment discussed how difficult they were to look for Ethereum fees that were getting more and more expensive, is this because of the effects of Ethereum which every day the price rises? Maybe when viewed from the first for the cheap Ethereum, the price of the fee is also cheap, but if Ethereum is expensive then for the fee it is also expensive, is this the law of conservation of Crypto trade?
ethereum gas fee is currently cheap my friend, you can check it. It seems that the ethereum team has made a lot of improvements so that they can solve this problem. so we don't need to complain anymore about the expensive gas fee.
Why can you say the cost of Ethereum gas is cheap? Where can you check the cost of cheap Ethereum gas? Besides you know the cost of cheap ethereum gas, what else do you know about this Ethereum coin? Can you explain to me all about Ethereum coin?
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Someone got the wrong address and lost 553,312 dollars. :o
While trying to transfer money to the KuCoin exchange, a person got the wrong address and transferred funds to fraudsters. The address for the deposit was taken from the transaction history. Usually people compare the first and last characters of the address, but in this case they matched.
By the way, I saw a YouTube video where a crypto exchange owner told how his employee lost more than 1 million dollars of funds from the exchange's liquidity in the same way. Never copy the address from the transfer history, always take it directly to avoid losing your money.
Proof: https://etherscan.io/tx/0x1391c950bd232bae80131b30e20e5241a60b77ea22f06ddc31946823b089ac05
(https://i.ibb.co/JB44zcy/image.png)
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I am wondering why the etheruem network transactions fees is continuously very high, compare to other networks fee.
I wish I can get a genuine reason for this high gas fee all the time because it look like there may be no end to this high fees. When I heard that etheruem network has migrated to POS I thought that the transaction fees will be reduced but fees remains the same.
It is very clear why new start projects are moving to other networks, new projects can't afford the etheruem fees when sending their native token to investors/users.
Currently, gas fees on Ethereum are very cheap, even below 1 gwei, and swap costs are also under 1 USD. This has been achieved thanks to the emergence and highly effective operation of L2 solutions such as Op, Arb, Base, Metis, etc.
Using the Ethereum blockchain has now become easier and more economical for everyone, similar to the 2019 crypto winter. With congestion issues resolved, other potentials of Ethereum can be explored, such as tokenizing assets from large investment funds.
- Ethereum Gas Tracker (https://etherscan.io/gastracker)
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I am wondering why the etheruem network transactions fees is continuously very high, compare to other networks fee.
I wish I can get a genuine reason for this high gas fee all the time because it look like there may be no end to this high fees. When I heard that etheruem network has migrated to POS I thought that the transaction fees will be reduced but fees remains the same.
It is very clear why new start projects are moving to other networks, new projects can't afford the etheruem fees when sending their native token to investors/users.
Currently, gas fees on Ethereum are very cheap, even below 1 gwei, and swap costs are also under 1 USD. This has been achieved thanks to the emergence and highly effective operation of L2 solutions such as Op, Arb, Base, Metis, etc.
Using the Ethereum blockchain has now become easier and more economical for everyone, similar to the 2019 crypto winter. With congestion issues resolved, other potentials of Ethereum can be explored, such as tokenizing assets from large investment funds.
- Ethereum Gas Tracker (https://etherscan.io/gastracker)
The gas fee problem of ethereum has been resolved, this is good for investors who will use the ethereum network. With the decrease in ethereum gas fees, this will have an impact on the price of ethereum in the bullish season. Moreover, with the approval of the ethereum ETF, this will also have a good impact.
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The gas fee problem of ethereum has been resolved, this is good for investors who will use the ethereum network. With the decrease in ethereum gas fees, this will have an impact on the price of ethereum in the bullish season. Moreover, with the approval of the ethereum ETF, this will also have a good impact.
I agree with you, ethereum gas fees have started to become cheap and this is good for its users, ethereum ETF has also been approved, if you want to see the impact of both, we will see next year during the bullish season.
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Wow its the first time in my experience when seeing Gwei ethereum price under 1 Gwei, unbelievable how possibility fees transfer of Ethereum under 1 Gwei usually reach higher price for sending fees. Right now not only Binance smart chain or Slana network have cheapest fees but also transaction using Ethereum network have lower fees.
If keep stable in the future I think many trader or investor will make their investment with Ethereum network coin than other network, its unbelievable how Ethereum fees drop under 1 Gwei currently and how possibility keep existing with Ethereum fees going down?
(https://talkimg.com/images/2024/08/31/9sh6v.png)
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The gas fee problem of ethereum has been resolved, this is good for investors who will use the ethereum network. With the decrease in ethereum gas fees, this will have an impact on the price of ethereum in the bullish season. Moreover, with the approval of the ethereum ETF, this will also have a good impact.
hopefully it is really resolved because gas fees during times where the mempool is not yet as congested as it is during high transactions is different from when the transactions are its peak
the addition of etf will just further increase the chances of ethereum’s price to rise and by extension the gas fees it’s just going to be a cycle until there’s a permanent solution
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Wow its the first time in my experience when seeing Gwei ethereum price under 1 Gwei, unbelievable how possibility fees transfer of Ethereum under 1 Gwei usually reach higher price for sending fees. Right now not only Binance smart chain or Slana network have cheapest fees but also transaction using Ethereum network have lower fees.
If keep stable in the future I think many trader or investor will make their investment with Ethereum network coin than other network, its unbelievable how Ethereum fees drop under 1 Gwei currently and how possibility keep existing with Ethereum fees going down?
(https://talkimg.com/images/2024/08/31/9sh6v.png)
Dencun upgrade and various L2 really helps lower ETH TX fee. But looking at https://dune.com/queries/2439610 (https://dune.com/queries/2439610), while sorting the table using "min_base_fee", i don't expect we'll see much lower fees anytime soon.
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I was about to do a transaction and the gas fee was very high! Any advice on how to get the lowest gas fees? I have looked at the heatmap, and I can see that at certain times and days, it's a bit lower. Any advice for a newbie?
Thanks!!
Yes, you are right, at certain times the gas fees for making transactions will be low when not many people are using the network you are using. However, when the network conditions are busy with transactions, it will make us think again about making transactions because usually it will charge transaction fees. which is quite expensive as you have experienced.
That's correct. Gas fees on blockchain networks like Ethereum can fluctuate based on network congestion. When many people are transacting simultaneously,To manage these costs, users often wait for less busy periods or consider alternative networks with lower fees.
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The gas fee problem of ethereum has been resolved, this is good for investors who will use the ethereum network. With the decrease in ethereum gas fees, this will have an impact on the price of ethereum in the bullish season. Moreover, with the approval of the ethereum ETF, this will also have a good impact.
hopefully it is really resolved because gas fees during times where the mempool is not yet as congested as it is during high transactions is different from when the transactions are its peak
the addition of etf will just further increase the chances of ethereum’s price to rise and by extension the gas fees it’s just going to be a cycle until there’s a permanent solution
Well, To keep the stability of the Ethereum network, it’s important to efficiently manage transaction fees, especially as transaction activity rises. A less crowded mempool will help to bring down gas fees, though this tactic must be associated with technology that is able to continuously improve network capacity.
For Ethereum adoption to increase, the deployed ETFs must come with innovation that tackles the cyclical high transaction fees. A holistic method is necessary to develop a lasting solution that can match demand against network capacity.
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Wow its the first time in my experience when seeing Gwei ethereum price under 1 Gwei, unbelievable how possibility fees transfer of Ethereum under 1 Gwei usually reach higher price for sending fees. Right now not only Binance smart chain or Slana network have cheapest fees but also transaction using Ethereum network have lower fees.
If keep stable in the future I think many trader or investor will make their investment with Ethereum network coin than other network, its unbelievable how Ethereum fees drop under 1 Gwei currently and how possibility keep existing with Ethereum fees going down?
(https://talkimg.com/images/2024/08/31/9sh6v.png)
Mate, it is not completely certain that the current low gas fee we are experiencing on the etheruem network is sustainable.This is because when the market start pumping, there may be spikes on gas fees again, and I think that once the bull market start, there is that possibility of a higher gas fees on the etheruem network. Remember that this was not the first time gas fees went down, it has been happening in the past and there has not been a permanent solutions to the etheruem gas fees issues to the best of my knowledge.
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Wow its the first time in my experience when seeing Gwei ethereum price under 1 Gwei, unbelievable how possibility fees transfer of Ethereum under 1 Gwei usually reach higher price for sending fees. Right now not only Binance smart chain or Slana network have cheapest fees but also transaction using Ethereum network have lower fees.
If keep stable in the future I think many trader or investor will make their investment with Ethereum network coin than other network, its unbelievable how Ethereum fees drop under 1 Gwei currently and how possibility keep existing with Ethereum fees going down?
(https://talkimg.com/images/2024/08/31/9sh6v.png)
Mate, it is not completely certain that the current low gas fee we are experiencing on the etheruem network is sustainable.This is because when the market start pumping, there may be spikes on gas fees again, and I think that once the bull market start, there is that possibility of a higher gas fees on the etheruem network. Remember that this was not the first time gas fees went down, it has been happening in the past and there has not been a permanent solutions to the etheruem gas fees issues to the best of my knowledge.
I really can't believe this, can't believe what I'm seeing now. It's been a long time since I checked the Ethereum gas rate. And the difference is very striking from what was screenshotted when this post was posted.
And now, the fee is at a rate of 16 gwei more. Oh no, even though I forgot to transfer the coins, I really didn't expect it to be many times bigger. This is why many new projects are lazy and switch to other networks, because the Ethereum network has not changed, always having problems with high transaction fees.
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And now, the fee is at a rate of 16 gwei more. Oh no, even though I forgot to transfer the coins, I really didn't expect it to be many times bigger. This is why many new projects are lazy and switch to other networks, because the Ethereum network has not changed, always having problems with high transaction fees.
Remember, friends, even though the Ethereum network is expensive and sometimes unstable, the interest in this network is so much and strong that even though ETH gas has increased many times, people still make many transactions despite the high fees.
For me gwei now is still quite cheap, because I have experienced where I have made transactions on the ETH network with a fee of more than $40 and honestly the fee was returned in capital with the token proceeds obtained yesterday from EIGEN.
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And now, the fee is at a rate of 16 gwei more. Oh no, even though I forgot to transfer the coins, I really didn't expect it to be many times bigger. This is why many new projects are lazy and switch to other networks, because the Ethereum network has not changed, always having problems with high transaction fees.
Remember, friends, even though the Ethereum network is expensive and sometimes unstable, the interest in this network is so much and strong that even though ETH gas has increased many times, people still make many transactions despite the high fees.
For me gwei now is still quite cheap, because I have experienced where I have made transactions on the ETH network with a fee of more than $40 and honestly the fee was returned in capital with the token proceeds obtained yesterday from EIGEN.
And if the Ethereum team doesn't fix their problem, high gas fee. It is likely that many investors will switch to other networks. because of Binance smart chain, solana, TON etc. Maybe at this time there are still many who don't believe that it will happen but they forget that anything can happen in the crypto world.
although Ethereum is very popular and currently still ranks second on CMC, BNB and Solana also have the potential to compete with
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I am wondering why the etheruem network transactions fees is continuously very high, compare to other networks fee.
I wish I can get a genuine reason for this high gas fee all the time because it look like there may be no end to this high fees. When I heard that etheruem network has migrated to POS I thought that the transaction fees will be reduced but fees remains the same.
It is very clear why new start projects are moving to other networks, new projects can't afford the etheruem fees when sending their native token to investors/users.
Currently, gas fees on Ethereum are very cheap, even below 1 gwei, and swap costs are also under 1 USD. This has been achieved thanks to the emergence and highly effective operation of L2 solutions such as Op, Arb, Base, Metis, etc.
Using the Ethereum blockchain has now become easier and more economical for everyone, similar to the 2019 crypto winter. With congestion issues resolved, other potentials of Ethereum can be explored, such as tokenizing assets from large investment funds.
- Ethereum Gas Tracker (https://etherscan.io/gastracker)
we know that ethereum is one of the best largest fund in cryptocurrency world. We also know that Gas fee on ethereum is also a little high than Binance smart chai and solana network. I think that when ethereum price will increase than it will be benefits for us, because i believe that then it’s gas fee will decrease gradually. If we follow in cryptocurrency market, we saw that ethereum fees is also lower, which drop under 1 gwei in this time. So i believe that within a short time ethereum gas or transaction fee will decrease. Then it will be very helpful for all ethereum users.
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we know that ethereum is one of the best largest fund in cryptocurrency world. We also know that Gas fee on ethereum is also a little high than Binance smart chai and solana network. I think that when ethereum price will increase than it will be benefits for us, because i believe that then it’s gas fee will decrease gradually. If we follow in cryptocurrency market, we saw that ethereum fees is also lower, which drop under 1 gwei in this time. So i believe that within a short time ethereum gas or transaction fee will decrease. Then it will be very helpful for all ethereum users.
ga fee ethereum has increased again friend, if the price of ethereum increases, it is likely that the gas fee will increase because usually the gas fee follows the traffic and price of the coin.
I prefer to transact using the BSC and TRC networks rather than ethereum and I also sometimes use SOL.
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we know that ethereum is one of the best largest fund in cryptocurrency world. We also know that Gas fee on ethereum is also a little high than Binance smart chai and solana network. I think that when ethereum price will increase than it will be benefits for us, because i believe that then it’s gas fee will decrease gradually. If we follow in cryptocurrency market, we saw that ethereum fees is also lower, which drop under 1 gwei in this time. So i believe that within a short time ethereum gas or transaction fee will decrease. Then it will be very helpful for all ethereum users.
ga fee ethereum has increased again friend, if the price of ethereum increases, it is likely that the gas fee will increase because usually the gas fee follows the traffic and price of the coin.
I prefer to transact using the BSC and TRC networks rather than ethereum and I also sometimes use SOL.
With the price, we describe ethereum gas fees since it is based on the traffic situation and can also rise as the price does. Therefore transactions with BSC and TRC are more preferable, though SOL is available as another option in case of necessity.
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With the price, we describe ethereum gas fees since it is based on the traffic situation and can also rise as the price does. Therefore transactions with BSC and TRC are more preferable, though SOL is available as another option in case of necessity.
Huge traffic of Ethereum make gas transaction increasing most drastically but when traffic low make gas fees for Ethereum have cheapest or lower price.
I see the high traffic moment happening usually when Ethereum raise up to higher price or any airdrop project claiming make traffic up significant bring impact for gas fees up.
Difference with other network such as SOL or BSC have stable fees however traffic high or not but for Sol have trouble with transaction time confirmation only get more delay but the fees keep stable as usually.
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With the price, we describe ethereum gas fees since it is based on the traffic situation and can also rise as the price does. Therefore transactions with BSC and TRC are more preferable, though SOL is available as another option in case of necessity.
Huge traffic of Ethereum make gas transaction increasing most drastically but when traffic low make gas fees for Ethereum have cheapest or lower price.
I see the high traffic moment happening usually when Ethereum raise up to higher price or any airdrop project claiming make traffic up significant bring impact for gas fees up.
Difference with other network such as SOL or BSC have stable fees however traffic high or not but for Sol have trouble with transaction time confirmation only get more delay but the fees keep stable as usually.
Every network definitely has its advantages and disadvantages. I prefer BSC in transactions because the gas fee is low, sometimes I also use solana because the solana gas fee is also low. I rarely use ethereum because the gas fee is high, especially when the traffic is high we have to pay a fairly large gas fee, this is annoying.
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Every network definitely has its advantages and disadvantages. I prefer BSC in transactions because the gas fee is low, sometimes I also use solana because the solana gas fee is also low. I rarely use ethereum because the gas fee is high, especially when the traffic is high we have to pay a fairly large gas fee, this is annoying.
Indeed, Each network does have qualities that we can take advantage of based on its strengths or on what type of service it provides. I also get the rationale of opting for a network with cheaper gas fees as suggested by BSC and Solana which just feels efficient for everyday transactions.
Ethereum gas fees are usually expensive especially during the time of increased traffic and yes, it is a constant issue. However, since there are a few existing networks, we can do more selective in selecting network most appropriate to the situation in order to ensure transaction activities go on smoothly without bearing extra large costs.
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We need to know that one of the main factors triggering the increase in gas costs is the dense network we use.if we use a network that is not densely populated with users,gas costs will become normal or not increase.
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Ethereum gas fees are usually expensive especially during the time of increased traffic and yes, it is a constant issue. However, since there are a few existing networks, we can do more selective in selecting network most appropriate to the situation in order to ensure transaction activities go on smoothly without bearing extra large costs.
It's always like that. In fact, it's even worse when traffic is heavy and the price of ETH has started to skyrocket, so the gwei needed is also getting higher. Yes, this makes the Ethereum network currently abandoned and more people are switching to other networks that are much more affordable. because if converted to $, the difference is quite significant, as when compared to Solana and also the BSC network, even though the speed is the same, on average.
Today, the average gwei required is 7gwei for sending tokens through the Ethereum network. And that's around $0.5, still quite low actually, but yes, when compared to other networks, it is still quite high especially when the transactions are in high amounts, then the increase in gwei is also undeniable.
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Today, the average gwei required is 7gwei for sending tokens through the Ethereum network. And that's around $0.5, still quite low actually, but yes, when compared to other networks, it is still quite high especially when the transactions are in high amounts, then the increase in gwei is also undeniable.
Fees are not that low....
To transfer a token around in ethereum network costs about $3.50 (currently 16 Gwei).
It would cost half of it at 7gwei, about $1.50 to $2.
To transfer ETH, which is not a token, costs much less, about $1.50 or $0.70 at 7 Gwei
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Today, the average gwei required is 7gwei for sending tokens through the Ethereum network. And that's around $0.5, still quite low actually, but yes, when compared to other networks, it is still quite high especially when the transactions are in high amounts, then the increase in gwei is also undeniable.
Fees are not that low....
To transfer a token around in ethereum network costs about $3.50 (currently 16 Gwei).
It would cost half of it at 7gwei, about $1.50 to $2.
To transfer ETH, which is not a token, costs much less, about $1.50 or $0.70 at 7 Gwei
Token transaction fees on the Ethereum network are still an issue to this date, especially to our pockets if we frequently transact tokens. Still, the figure can be put much lower and the users must more or less think on how they can make the best out of the networks. Thus, we can operate at quite high fees and, for this purpose, we can use options, for example, the use of an alternative network, which can be a solution to reduce costs. Unfortunately, there are still a limited number of tokens on the ERC20 network which offer gateway into cheaper transaction networks.
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some people also experience the same thing is there a way for this
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Ethereum gas fees are usually expensive especially during the time of increased traffic and yes, it is a constant issue. However, since there are a few existing networks, we can do more selective in selecting network most appropriate to the situation in order to ensure transaction activities go on smoothly without bearing extra large costs.
It's always like that. In fact, it's even worse when traffic is heavy and the price of ETH has started to skyrocket, so the gwei needed is also getting higher. Yes, this makes the Ethereum network currently abandoned and more people are switching to other networks that are much more affordable. because if converted to $, the difference is quite significant, as when compared to Solana and also the BSC network, even though the speed is the same, on average.
Today, the average gwei required is 7gwei for sending tokens through the Ethereum network. And that's around $0.5, still quite low actually, but yes, when compared to other networks, it is still quite high especially when the transactions are in high amounts, then the increase in gwei is also undeniable.
You are right when traffic is high and the price of Ethereum increases of course the gas fee will be high. because in my opinion what determines the increase in gas fees is traffic and price. Because all of that is related, the price increases because demand increases and many people buy at that time so that traffic increases and besides that when the price increases it is likely that many will sell to make a profit, so the main factor that affects gas fees is traffic.
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You are right when traffic is high and the price of Ethereum increases of course the gas fee will be high. because in my opinion what determines the increase in gas fees is traffic and price. Because all of that is related, the price increases because demand increases and many people buy at that time so that traffic increases and besides that when the price increases it is likely that many will sell to make a profit, so the main factor that affects gas fees is traffic.
I agree that Ethereum gas fees are heavily network activity driven. The gas fees increase as the network gets busier, the more buyers or sellers there are on demand. Then we could see how price increases and their transaction volumes to one another to be somewhat difficult to users with limited capital. I think that in order to soften this impact you could try and do your transaction at times when traffic is lower or use a network with lower fees. Using this strategy we are not bound by high gas fees and are still able to transact.
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You are right when traffic is high and the price of Ethereum increases of course the gas fee will be high. because in my opinion what determines the increase in gas fees is traffic and price. Because all of that is related, the price increases because demand increases and many people buy at that time so that traffic increases and besides that when the price increases it is likely that many will sell to make a profit, so the main factor that affects gas fees is traffic.
What I know is, the GAS fee is determined by the person making the transaction itself... and the model of its high and low depends on the high and low bids determined by the transaction actors... sometimes even though the transaction looks so dense, if the users who make the transaction bid on a low GAS fee, it will still be low... the emergence of high GAS fees is influenced by the bidding emotions that are overflowing, even if the transaction is not dense, it can increase the transaction fee if many users choose to use a high GAS fee... the concept is still like PoW in general, and maybe this high GAS fee will end when Ethereum 2.0 is launched.