How far do you consider "transaction fees" in crypto?

[bayu7adi]

This is a problem that arises quite often, regarding transaction fees. Someone of course chooses to consider cheaper transaction fees because it saves more.... However, several parameters such as coin popularity, coin features and also liquidity are also often taken into consideration, someone is willing to pay a higher fee because it is really worth it...

We can compare transaction fees for Bitcoin, Ethereum, BNB and SOLANA, where there are several advantages and disadvantages of each of these coins and the platforms that carry them.

We know that Ethereum has quite high transaction fees for making swaps, but we also realize that there are still many people who still use it even though the fees are expensive. So in your personal opinion, are transaction fees really the biggest problem in the world of cryptocurrency???

[joniboini]

I don't think it is the biggest problem, but it is definitely an annoyance. In my case, as long as I need to make a transaction asap, expensive fees are the last thing I'm worried about. For example, if I need to withdraw from a suspicious exchange, or if a project I followed started making stupid decisions, etc. If I'm not in a hurry, and my transaction is pending because fees are rising, then I can wait for a few days without a problem. People will like cheaper fees, but the market will stabilize the supply & demand. It is impossible to expect the network to be strong if there's no incentive for miners/stakers to begin with.

[ABCbits]

Not biggest problem, but big enough to discourage from using those coins more frequently whether for micro-transaction, swap or something else. It's also reason why some people decide to store their coin on custodial service.

[bitbit97]

For me instability of transaction fees is the problem. When fees are high, people get used to that, because there are no other options to make a transaction. With me, I have troubles several times because I havent checked previously the cost of a transaction. Few years ago, I got used to pay <5sat/b for a transaction and it would get confirmed during day. So without hesitation, I have created a transaction with 5sat/b and it took 3 weeks before it got confirmed. My mistake was that I have used online wallet and there were no RBF option. I could only have paid a constant of $100 as online wallet fee, and they would have accelerated it. That is what I dont like about fees in Bitcoin, you always have to check mempool before sending.

[Stompix]

However, several parameters such as coin popularity, coin features and also liquidity are also often taken into consideration, someone is willing to pay a higher fee because it is really worth it...

Why?
You're basically saying that someone would pay 5$ for a product while paying with Visa instead of paying $4 with a Mastercard because Visa is more popular and has more users. Why would you do that?
People who have to pay higher fees on some chains do it because they have funds in there and not on a cheaper alternative.

[Zed0X]

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We know that Ethereum has quite high transaction fees for making swaps, but we also realize that there are still many people who still use it even though the fees are expensive. So in your personal opinion, are transaction fees really the biggest problem in the world of cryptocurrency???

People who continue to transact with smart contracts on Ethereum probably came to a conclusion that the benefits of investing/gambling in that token is higher than the cost of swapping. In their mind, the transactions fees are just a small percentage of what they can potentially earn. So is it the biggest problem? I guess that depends on who you are asking.

[Vx1]

For some people this may be a big problem, and for some people it may not be.  It also depends on the situation and conditions, if it is possible that we can choose transactions with low fees on a network then we just use that network.  But if there is no choice then what can we do, we still have to make transactions on that network. 
This has been a phenomenon for a long time, the Ethereum Network has always been a topic of discussion because of the expensive fees, but until now the Ethereum Blockchain is still number one.

[Yamane_Keto]

It depends on your usage. If you trade on a daily basis or have a store that accepts Bitcoin or a service with high transactions, then fees will certainly be a priority for you. Paying an average of $2 per transaction may lead to zero profits, but if you rarely use cryptocurrencies or you invest thousands of dollars or When sending to family and friends, the average $5 per transaction is not much, especially when compared to the cost of international money transfers.

[bitmover]

We know that Ethereum has quite high transaction fees for making swaps, but we also realize that there are still many people who still use it even though the fees are expensive. So in your personal opinion, are transaction fees really the biggest problem in the world of cryptocurrency???

Ethereeum swaps fees are indeed  a problem. 80 usd is outrageous for a swap.

Other than that, transaction fees are OK imo.

Bitcoin wasn't designed to make people buy a coffee cheaper.

It is much greater than that. It is a reserve of value , a borderless payment system which allows anyone to transfer property over communication channels.

Paying 1-2 usd for that, to get a confirmation within 30 minutes, is simple amazing.

[JISAN]

I don't think it is the biggest problem, but it is definitely an annoyance. In my case, as long as I need to make a transaction asap, expensive fees are the last thing I'm worried about. For example, if I need to withdraw from a suspicious exchange, or if a project I followed started making stupid decisions, etc. If I'm not in a hurry, and my transaction is pending because fees are rising, then I can wait for a few days without a problem. People will like cheaper fees, but the market will stabilize the supply & demand. It is impossible to expect the network to be strong if there's no incentive for miners/stakers to begin with.

Transaction fees are now very low for each chain and even for Bitcoin, transaction fees are now limited to $1-$5 depending on the amount. So this transaction fee is not a factor. But when one transacts small amounts on a regular basis, this can be very costly and annoying.  But this is not a big problem for those who transact large amounts. I mostly transact on the TRON chain because the fees are much lower.  And nowadays base chain and NEAR chain have become very popular.  Because they have very low transaction fees

[$crypto$]

To say this is the biggest problem, I don't think so. However, saying this is one of the difficulties that is often faced, I would say yes, especially when wanting to make transactions on the ethereum network.

I usually have to wait until transaction fees decrease when I will transact on Ethereum. Because if at the time the costs are very high, then that will also be a burden for me.

I get a little annoyed when I need it quickly, because I have to wait first.

[NotATether]

You're basically saying that someone would pay 5$ for a product while paying with Visa instead of paying $4 with a Mastercard because Visa is more popular and has more users. Why would you do that?

I bet that most people couldn't even tell the difference between popularity and fees on Visa and Mastercard. I sure cant! Because it depends on the bank that's issuing it to you. And popularity is also a meaningless metric unless we are talking about how many banks have an agreement with each provider. And even then the number of customers of each bank varies but I guess we could place an average on them I guess.

Point being, most people can't tell the difference between fees on different blockchains either. They just see one coin having expensive withdrawal fees (they use exchanges) and use another one.

[bitbit97]

You're basically saying that someone would pay 5$ for a product while paying with Visa instead of paying $4 with a Mastercard because Visa is more popular and has more users. Why would you do that?

I bet that most people couldn't even tell the difference between popularity and fees on Visa and Mastercard. I sure cant! Because it depends on the bank that's issuing it to you. And popularity is also a meaningless metric unless we are talking about how many banks have an agreement with each provider. And even then the number of customers of each bank varies but I guess we could place an average on them I guess.

Point being, most people can't tell the difference between fees on different blockchains either. They just see one coin having expensive withdrawal fees (they use exchanges) and use another one.

I bet that most people still live under influence of old "sent $1kk worth in BTC and paid less than $1 for a fee" story. I bet most people dont understand, that with price growth of a crypto, transaction cost also increases. I bet many consider "paying more than $1 for a transaction is a theft". I bet many dont even understand how transaction fee is based (who cares if they focus on $x.xx that stands in brackets after crypto amount).

[PX-Z]

are transaction fees really the biggest problem in the world of cryptocurrency???

I don't think so, if it's always the case bitcoin and ethereum won't be that popular, well, there's always exception for that because of the price/value. High transaction fees esp. in bitcoin is so annoying whenever there's a spike and end up having above $20 for fees, your only choice is to wait it come down which will always takes days. Or at least make a decent fee and take risks to get a slot in free accelerators such as viabtc, make sure RBF is enabled so you can bump its fees if ever viabtc says it has lower fees.

[bitmover]

You're basically saying that someone would pay 5$ for a product while paying with Visa instead of paying $4 with a Mastercard because Visa is more popular and has more users. Why would you do that?

I bet that most people couldn't even tell the difference between popularity and fees on Visa and Mastercard. I sure cant! Because it depends on the bank that's issuing it to you. And popularity is also a meaningless metric unless we are talking about how many banks have an agreement with each provider. And even then the number of customers of each bank varies but I guess we could place an average on them I guess.

Point being, most people can't tell the difference between fees on different blockchains either. They just see one coin having expensive withdrawal fees (they use exchanges) and use another one.

WHen buying something locally, you can just use Visa or Cash.

I don`t see any advantage in using crypto in local micro transactions.

BUt if you want to send money abroad to make a trip, or transfer your wealth abroad while running away from war or corrupt governments, crypto is probably the best options. And 2 usd fees are basically free.