How to earn a profit from Ethereum as its transaction fees have become expensive

[bitbit347]

Hi！

Notice：

If high fees persist, the transaction volume of DEX and derivatives exchanges that rely on on-chain settlement for transaction confirmation may decrease.

The increase in transaction fees is related to the sale of stablecoins based on Ethereum.

Miner's income has increased significantly, but scalability innovation will curb the continuation of this trend.

The average transaction fee of Ethereum increased by more than 160%. The users bear higher costs, and the miners get a higher income, but this situation may change in the near future.

Ethereum's transaction fees have been rising in May, and the average transaction fee has been close to $ 0.3.

This is a situation that deserves attention because it makes using the Ethereum network more expensive.

According to the data of Coin Metrics, the average transaction fee so far in 2020 is 0.15 USD or 0.00085 ETH. However, the average transaction fee in May alone reached 0.29 USD or 0.00143 ETH.

There are exceptions when transaction prices generally rise. Taking Synthetix as an example, as of press time, the average transaction fee for casting SNX was $ 7.4.



During 2020, the average daily transaction fee income for miners is 631 ETH. But in May, this average has risen to 1216 ETH, which has nearly doubled.

Although users bear the burden of high transaction fees, miners are excited about the increase in revenue.

Ethereum co-founder Vitalik Buterin pointed out that the current miners earn higher fees than the estimated ETH 2.0 staking reward. This gave rise to the idea that Ethereum is developing into a fee-based market, and the demand for block space will push up transaction fees.



So there’s no doubt that ETH will rise in the long-term, especially with the upcoming ETH2.0 upgrade. However the cost will also become more expensive. Under this circumstance, to trade on ETH options can be a perfect choice to experience the growth of ETH price.

Take BitOffer Ethereum Options as an example, it requires 0 fees, 0 margins. The most significant feature of BitOffer Ethereum Options is its unlimited profit with limited risk. Whether the bull or bear market, investors are able to earn profits up to 1,000X. With the purpose of providing investors a precise hedge tool and an additional trading product.

If you have enough confidence with ETH, buy ETH itself and wait.
If you have a little hesitation or don't want to lose much, but still want to earn some profits from it, try ETH options

[JasonW]

Vitalik Buterin tweeted that the transaction fees on Ethereum last week exceeded the estimated reward income under the PoS model. This is an important milestone in achieving economic sustainability.

At present, Ethereum rewards 12928 ETH for mining every day, while the transaction fee of 2249 ETH has already accounted for 17% of mining rewards. The transactions are expensive which more suitable for large-value transactions.

[Noverteno]

It's probably best to just hold on to your ethereum for now. I bought ethereum last year for $ 280, and now its price is about $ 4,000. I hope that next year, after a successful network update, this coin will rise in value to $ 10,000. By then, the transaction fees should also bounce back. So I'm just holding my ethereum for now.

[Bobcrypto]

The transaction fee is not encouraging especially for new users, I just hope that the Ethereum 2.0 will help new community members because many users may be leaving the Ethereum chain to other networks if the continue s next year. If more people (investors) are not investing due to high transaction fees it will not enhance ether price.

[TomPluz]

It's probably best to just hold on to your ethereum for now. I bought ethereum last year for $ 280, and now its price is about $ 4,000. I hope that next year, after a successful network update, this coin will rise in value to $ 10,000. By then, the transaction fees should also bounce back. So I'm just holding my ethereum for now.

Holding is the key for Ethereum while we are waiting for the eventual solution to the dragging and incredible gas fees charged for transacting business in the said network. I am expecting that the coming new year can accelerate the developments on Ethereum that can solve this big challenge it is facing. I already stopped transacting in Ethereum since moving some of my tokens to exchanges can be so unprofitable, in the first place. Gone are the days when even a token worth $5 can be easily transferred to exchanges and be converted to to other assets. I am then wishing that the genius of Vitalik Buterin can solve this problem once and for all...as I am already so tired of this!

[TOP_ETH]

how to profit from ethereum transaction fees which are so expensive maybe by holding or holding if for trading it may be too heavy with transaction fees

[Fenix]

how to profit from ethereum transaction fees which are so expensive maybe by holding or holding if for trading it may be too heavy with transaction fees

Over the past year, the situation with the ethereum network has changed for the better in many ways. Currently, the transaction fee on this network is 24 gwei, which is already pretty good. However, we expect the completion of the biennial ethereum upgrade, which should happen as early as next month, tentatively on September 19th. Then ethereum will be transformed in many ways, including its actual problems with scalability and high transaction fees should disappear forever.

[gurunanakji777]

For me, Ethereum is an asset it should be held like a fixed deposit in the bank. If you see the Ethereum gas fee it's never been high and same it keeps changing so one must keep an eye on it if one wants to make a transaction but Vitalik should do something to reduce the gas fees. No doubt miners are making huge money. Because of high transaction fees we see a huge gain in transactions in the BNB, Polygon, and TRC where the gas fee is very minimal and a small trader can easily manage.

[pelana vreo]

The Smart contract technology built by Ethereum is the first in the world and has a lot of great developers, now if the two chains can unite, then it will be as long as possible in the future, when the Beacon chain can make transactions faster and with lower fees. for the current gas fee, I think it's gone down because the DeFi and NFT hype has waned.

[Astra]

For me, Ethereum is an asset it should be held like a fixed deposit in the bank. If you see the Ethereum gas fee it's never been high and same it keeps changing so one must keep an eye on it if one wants to make a transaction but Vitalik should do something to reduce the gas fees. No doubt miners are making huge money. Because of high transaction fees we see a huge gain in transactions in the BNB, Polygon, and TRC where the gas fee is very minimal and a small trader can easily manage.

In my opinion, the problem of expensive transactions on the ethereum network no longer exists. Right now CoinMarketCap shows 12 gwei per transaction. This figure is more or less stable, but the ethereum upgrade continues and the situation with gas levels and scalability will continue to improve. So far, we have not seen much growth in the price of ethereum, since the cryptocurrency market is under the influence of the ongoing crypto winter. But in the future, the popularity of ethereum will continue to grow, as will the price of this coin.

[rose berry]

a way to earn passive income by investing in crypto currency is by lending them to investors to high invest rates, typically investors lend there crypto to debtors to high interest rates

[Probal Deep Moran]

In many cases, in-game digital tokens can be exchanged for stablecoins on either centralized or decentralized cryptocurrency exchanges. These digital assets can be sold or traded on online marketplaces or directly converted to fiat currency.

[therozaq]

Yeah, high gas fee will be always the big problem for us,
We are trader or investors, always suffering while do transaction in high gas feee.
We know it, and the developer  doesby have good solution

[Bliznec]

I think there is no need to worry, because very soon, commissions will be reduced for exchange, transfer in the Ethereum network. Buterin will do it no matter what. That's when the ETH network will be in demand, as it was a little earlier. After the next update, commissions will be reduced.

[Senin]

The Ethereum network is constantly updated. Three more updates are planned for January and early February and this significantly improves the situation with high transaction fees.

To make a good profit on Ethereum, now is the best time to buy this coin, since, after the Bitcoin halving in April, potential altcoins should quickly increase in price. This primarily applies to Ethereum.