What is this? [rant]

[NotATether]

They want me to pay $20 in ETH transaction fees to pay an invoice of 6 dollars!

What is this, free candy for validators? No thank you.

The alternative is to pay in Base or Polygon networks, but my exchange order for BTC => MATIC is stuck in traffic.

Unfortunately, Bitcoin is not accepted here (yet), it used to be but customer support told me they will work on adding the other cryptos at another time.

[MrSpasybo]

They want me to pay $20 in ETH transaction fees to pay an invoice of 6 dollars!

What is this, free candy for validators? No thank you.

The alternative is to pay in Base or Polygon networks, but my exchange order for BTC => MATIC is stuck in traffic.

Unfortunately, Bitcoin is not accepted here (yet), it used to be but customer support told me they will work on adding the other cryptos at another time.

I'm curious about the crypto acceptance service and the wallet app you use for payments. This is really interesting because in Vietnam and Russia, I have never experienced paying with crypto.

I was quite surprised that the transaction fee is so expensive ~ $20.57, while the Ethereum network is no longer congested, the ETH transaction fee is only around $0.8-1.5. I want to know how this wallet app determines the transaction fee for users, maybe it always wants to ensure the user experience by prioritizing the transaction to be executed in the next block, so it suggests the extremely expensive fee. You can try to find out the gas fees customization feature if it is supported on your crypto wallet app.

[NotATether]

I'm curious about the crypto acceptance service and the wallet app you use for payments. This is really interesting because in Vietnam and Russia, I have never experienced paying with crypto.

I was quite surprised that the transaction fee is so expensive ~ $20.57, while the Ethereum network is no longer congested, the ETH transaction fee is only around $0.8-1.5. I want to know how this wallet app determines the transaction fee for users, maybe it always wants to ensure the user experience by prioritizing the transaction to be executed in the next block, so it suggests the extremely expensive fee. You can try to find out the gas fees customization feature if it is supported on your crypto wallet app.

It's Coinbase Wallet, so it follows the usual network estimation parameters for finding the slow, medium and fast fees.

These are usually always very high but this morning I checked and the fees happened to be just low enough for the payment to go through.

If only the various exchange websites for BTC <=> altcoins weren't so scummy, I would've ditched Ethereum payments long ago.

[bitterguy28]

can feel you mate , I experience the same thing back using Exodus wallet this is why I choose transferring the funds into XRP and talk to the person I need to send the amount to have Her ripple wallet instead because Ethereum really sucks when there is congestion,
same with what bitcoin experiencing sometimes ..

i thought coinbase has a smaller fee/gas than Exodus but seeing this seems like they are the same .

[NotATether]

can feel you mate , I experience the same thing back using Exodus wallet this is why I choose transferring the funds into XRP and talk to the person I need to send the amount to have Her ripple wallet instead because Ethereum really sucks when there is congestion,
same with what bitcoin experiencing sometimes ..

i thought coinbase has a smaller fee/gas than Exodus but seeing this seems like they are the same .

On a side note, I don't recommend you use Exodus for anything. I have read horror stories of people's accounts being swept randomly, and without any warning.

These were wallets that were otherwise secured from any malware or phishing that might have infected them.

You should really consider moving your coins to another wallet software.

[yhiaali3]

Yes there seems to be a lot of free candy for auditors!! A truly ridiculous transaction fee

Personally, I gave up using the Ethereum network a long time ago and use the Binance, Tron, or Polygon network to complete payments because they are known to be faster and cheaper.

I am surprised why Ethereum fees are still high despite all the upgrades that have been made to the network that are supposed to cause fees to decrease significantly. It is true that they have become much better than before, but they are still high and often annoying.

[MrSpasybo]

It's Coinbase Wallet, so it follows the usual network estimation parameters for finding the slow, medium and fast fees.

These are usually always very high but this morning I checked and the fees happened to be just low enough for the payment to go through.

If only the various exchange websites for BTC <=> altcoins weren't so scummy, I would've ditched Ethereum payments long ago.

Due to high transaction fees, it seems that Bitcoin and Ethereum are no longer suitable for supporting micro-transactions. I think they were designed to serve the more important needs of large organizations, or even countries, such as tokenization, capital rotation...

Waiting or setting up lower fees on the Ethereum blockchain may not be easy for most users, I think Layer-2 or newer, faster and cheaper blockchains may be a more suitable solution for users. We need to wait for crypto to be more widely accepted, businesses to accept more tokens and allow users to avoid excessive transaction fees.

[electronicash]

It's Coinbase Wallet, so it follows the usual network estimation parameters for finding the slow, medium and fast fees.

These are usually always very high but this morning I checked and the fees happened to be just low enough for the payment to go through.

If only the various exchange websites for BTC <=> altcoins weren't so scummy, I would've ditched Ethereum payments long ago.

Due to high transaction fees, it seems that Bitcoin and Ethereum are no longer suitable for supporting micro-transactions. I think they were designed to serve the more important needs of large organizations, or even countries, such as tokenization, capital rotation...

Waiting or setting up lower fees on the Ethereum blockchain may not be easy for most users, I think Layer-2 or newer, faster and cheaper blockchains may be a more suitable solution for users. We need to wait for crypto to be more widely accepted, businesses to accept more tokens and allow users to avoid excessive transaction fees.

the more its widely adopted the more its network going to get congested. the LN use to be so cheap less than $0.10 i think but now it can still go up to $200 at its peak.
there has to be a network that will auto adjust its fee to the very minimum  when something like this happens.

i have the paranoia they are doing this on purpose so people will start to just use the exchanges and banks that allow crypto deposits and not the custodial wallets we download. 

[Stompix]

It's Coinbase Wallet,

So use USDC 
But, you knew it already, the moment you actually agreed to start using that thing you should have been prepared for surprises.
It's typical behavior, to increase prices artificially to promote the in-house alternative, just like Biannce keeps fees up for BTC while lowering those for the token.

If only the various exchange websites for BTC <=> altcoins weren't so scummy, I would've ditched Ethereum payments long ago.

Doge waiting smiling in the background!

[libert19]

I'm curious about the crypto acceptance service and the wallet app you use for payments. This is really interesting because in Vietnam and Russia, I have never experienced paying with crypto.

I was quite surprised that the transaction fee is so expensive ~ $20.57, while the Ethereum network is no longer congested, the ETH transaction fee is only around $0.8-1.5. I want to know how this wallet app determines the transaction fee for users, maybe it always wants to ensure the user experience by prioritizing the transaction to be executed in the next block, so it suggests the extremely expensive fee. You can try to find out the gas fees customization feature if it is supported on your crypto wallet app.

It's Coinbase Wallet, so it follows the usual network estimation parameters for finding the slow, medium and fast fees.

I agree with what MrSpasybo said in above, Ethereum gas fees have been very low lately, there is no way you would be paying $20 as gas fees. I feel it's just error on calculating gas fee on Coinbase wallet's part, since it doesn't allow you to set custom fee, import pvk/seed into wallet that does (idk if they allow you to do that either, haven't used coinbase wallet myself).

[bitterguy28]

can feel you mate , I experience the same thing back using Exodus wallet this is why I choose transferring the funds into XRP and talk to the person I need to send the amount to have Her ripple wallet instead because Ethereum really sucks when there is congestion,
same with what bitcoin experiencing sometimes ..

i thought coinbase has a smaller fee/gas than Exodus but seeing this seems like they are the same .

On a side note, I don't recommend you use Exodus for anything. I have read horror stories of people's accounts being swept randomly, and without any warning.

These were wallets that were otherwise secured from any malware or phishing that might have infected them.

You should really consider moving your coins to another wallet software.

Thanks for this reminder mate actually after that incident I never use exodus again though there are still small amount of my funds that sits there,so with this advise from you?will take out all that funds now before it's too late ,as I don't wanna taste or experience that horror story .

[Stompix]

They want me to pay $20 in ETH transaction fees to pay an invoice of 6 dollars!

This needs an update and another rant:


You see, you can choose to pay $51.20 for low priority or $51.30 for higher priority! 
And suddenly 20$ isn't that much anymore, right?

Visa and doge laughing in the background! 

[NotATether]

It's Coinbase Wallet,

So use USDC 
But, you knew it already, the moment you actually agreed to start using that thing you should have been prepared for surprises.
It's typical behavior, to increase prices artificially to promote the in-house alternative, just like Biannce keeps fees up for BTC while lowering those for the token.

I'm not sure whether USDC runs on the Ethereum network because if it does then it won't solve anything.

I have been leaning towards Polygon but I am having trouble finding robust exchanges for it besides Tradeogre.

Doge waiting smiling in the background!

Dogecoin is not supported unfortunately at all by Coinbase. It seems like they decided that BTC and other utxo-style chains are too difficult for them to support.

[libert19]

I have been leaning towards Polygon but I am having trouble finding robust exchanges for it besides Tradeogre.

Why don't you convert btc/doge to polygon via instant exchanges? What exactly is point of using cexes are tradeogre anyway?

Plus, once you get on polygon (or any other cheap evm like optimism/arbitrum), it's easier to move between evm chains without paying much fees, and as I see from screenshot given in op, there are 0 fees when paying via usdc on base, so you move from polygon to base and do transactions with base usdc and take advantage of this coinbase offer, though base feess are negligible anyway.

[NotATether]

I have been leaning towards Polygon but I am having trouble finding robust exchanges for it besides Tradeogre.

Why don't you convert btc/doge to polygon via instant exchanges? What exactly is point of using cexes are tradeogre anyway?

Instant exchanges like what? Please enlighten me.

(If you are talking about something on Bestchange, they usually have a minimum exchange amount of $100 or something like that.)

Plus, once you get on polygon (or any other cheap evm like optimism/arbitrum), it's easier to move between evm chains without paying much fees, and as I see from screenshot given in op, there are 0 fees when paying via usdc on base, so you move from polygon to base and do transactions with base usdc and take advantage of this coinbase offer, though base feess are negligible anyway.

Again, I don't really understand how moving tokens between evm changes will not occur a huge gas penalty.

Maybe it's because I come from a bitcoin background but from my limited experience with ETH, I had to pay gas fees to exchange tokens. On a previous order from Porkbun, that is how I lost almost $100 in gas fees over three transactions.