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

[vegasus]

I would prefer to use a larger transaction fee than to choose a smaller one. because, previously had experience using the lowest fee transaction to send coins. And what's the end?

It really sucked for days. Meanwhile, fees in the mempool are getting higher. So, I have to be patient and wait a few days. But it never came, I thought this was normal, normal but it turned out to be really troublesome. Especially if we need these coins to be converted quickly to fiat for certain needs. So it would be much better if you just take the safe method.

Because, not all platforms have a feature to increase the fee. If there is a feature, it might be quite helpful, but if not, then we're just waiting, right? Luckily, at that time, I finally got information regarding increased fees on Electrum, and it turned out it worked. Yes, while the fees have really increased because they follow the fees at that time. So, isn't it better to choose a fee that might be considered greater than the lower fee at the start rather than having to bother and wait a long time for the transaction to be confirmed, right?

[alltalk]

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.

Agree. It is quite annoying because it sometimes leads to a delay transaction. I ever withdraw my Bitcoin from a certain wallet, I just followed the regular fees and didn't increase it but the transactions be delayed due to sudden increase in fees. The regular fees at that time was below 6 sat/vB but it suddenly increased to be above 7 sat/vB. It is still delayed until now, sadly the fees can't be increased because there is no feature there. I've no idea about when it will be successfully transferred. Do you have a suggestion, buddy? 

[akeemqaz]

I really consider transaction fees in crypto. Most of the time, instead of using ETH bridges, I send crypto to exchanges with low withdrawal fees, convert it, then withdraw back to my wallet. I often use Bitget for USDT on the BSC network for this because of their fees, but I'm still looking for exchanges with lower fees. Lol. Also, fees are just like a waste of money. So why not look for alternatives?

[akeemqaz]

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.

The worse case is. After spending like 10 usd for fees. You can check after few hours and see that the fees have gone down drastically and you can now spend like 2 usd for fee. This is also annoying.

[0t3p0t]

It depends on what kind of transaction we are up to. If the transaction is for payment or emergency purposes then it's not worth it but if it is for investment like long term then it's okay but only fees that is reasonable that works for me because if it is too much of course we don't like it just like what had happened to Bitcoin's transaction fees that rise up to more or less $200 few months ago that is insane.

[Gurujebs]

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???

I don't really see problem with transaction fees as long as the users can pay the fees. Majority of the people that do pay for transaction fees have gain more than what they spend on those fees and it doesn't really freak to them to spend but it might be a problem for people with small amount of money that doesn't have choice but to use the chain.

I think we have many alternatives because of the high fees, Ethereum network transaction fee is higher than that of bnb and bnb if higher than that of Solana and we have some constellation Dag that offer almost zero transaction fee, if other network are to expensive, the use the ones that are not expensive.

[$crypto$]

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.

The worse case is. After spending like 10 usd for fees. You can check after few hours and see that the fees have gone down drastically and you can now spend like 2 usd for fee. This is also annoying.

Lol, this is something that I usually experience, when I don't have much time to wait and am forced to transact at the time when it usually spikes, and after that or a few moments later we can transact at a cheaper cost.

Or vice versa, when the fees are low or not too high, I usually wait a bit and hope that the fees will get cheaper, but what happens is that I lose that opportunity because the transaction fees are getting higher.

[Cryptsafe]

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???

I don't really see problem with transaction fees as long as the users can pay the fees. Majority of the people that do pay for transaction fees have gain more than what they spend on those fees and it doesn't really freak to them to spend but it might be a problem for people with small amount of money that doesn't have choice but to use the chain.

I think we have many alternatives because of the high fees, Ethereum network transaction fee is higher than that of bnb and bnb if higher than that of Solana and we have some constellation Dag that offer almost zero transaction fee, if other network are to expensive, the use the ones that are not expensive.

You are correct sir. To some people transaction fee is not a big deal while to some it is. Most times, people who mostly pay big fees for transaction possibly are for business purposes and they benefit much than they spend for fee while some that are very little amount  always worry about  it because they are very careful of amount they spend on transaction fees as it is not for business purposes.

As you have said, one can choose alternative means of carrying out their transactions as there are other coin that are far much cheaper than others. When it comes to transferring assets from private wallet, I believe fees are charged according to the network when in self custodial wallet but for third parties, it is quite different for instance exchange transfer are quite different from but what I do is that when ever I want to transfer between exchange I look for a coin with lesser transaction charges then trade for it and withdraw to the other exchange and convert it back to usdt or any other coin of my choice. With this I save myself the stress of spending higher transaction fee.

[bayu7adi]

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.

Bruh... not everyone has extraordinary wealth, using it repeatedly will certainly drain your balance too... it's true, I can't blame everyone's choice... but choosing something wiser in my opinion is the better thing here... like people who really feel that transaction fees are too high will certainly consider other options, such as changing to another payment method that is more friendly to transaction fees...

In the case of cryptocurrency, someone can exchange it first to another coin that is commonly used for payment as well as a friendlier fee. Yes... generally I also consider fees because the money I manage in the crypto space is not much.

[Faisal2202]

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???

Crypto users take the fee factor as they wasting their money, so if you think we don't consider it then that's wrong, we don't even want to pay it in the first place as I said crypto users take it as waste of there money. And speaking of different blockchains, I think right now ETH is not the expensive one, I mean whenever you have to withdraw ETH from some CEXs or DEXs you might have to pay a lot of fee and you also have to pay a lot of fee when you are preferring BTC.

But in compared to BTC, you don't have to pay a lot of fee in ETH, when you are directly sending ETH from one EVM wallet to another. Its really cheap. Speaking of swaps and bridging, I always in search of swaps and bridges which can save me more fee. Here are two I came to know about One is Sideshift, which lets you swap any coin into any on any network, another for bridge is synapse, its really cheap.

[akeemqaz]

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.

The worse case is. After spending like 10 usd for fees. You can check after few hours and see that the fees have gone down drastically and you can now spend like 2 usd for fee. This is also annoying.

Lol, this is something that I usually experience, when I don't have much time to wait and am forced to transact at the time when it usually spikes, and after that or a few moments later we can transact at a cheaper cost.

Or vice versa, when the fees are low or not too high, I usually wait a bit and hope that the fees will get cheaper, but what happens is that I lose that opportunity because the transaction fees are getting higher.

Yes, you're right about the vice versa as well. While waiting for fees to go down, you may eventually find yourself in a position where you have to pay even higher fees. This fee situation can be heartbreaking at times.

[bayu7adi]

But in compared to BTC, you don't have to pay a lot of fee in ETH, when you are directly sending ETH from one EVM wallet to another. Its really cheap. Speaking of swaps and bridging, I always in search of swaps and bridges which can save me more fee. Here are two I came to know about One is Sideshift, which lets you swap any coin into any on any network, another for bridge is synapse, its really cheap.

Unfortunately, I just heard about the service you mentioned... so, is it some kind of custodial service?? and swapping from one network to another, I think it can only be done on a custodial or non-decentralized platform... yeah, maybe it won't matter whether it's custodial or non-custodial, as long as the transaction fees can be reduced, maybe that's it. become an attraction for some people to use the service. Because basically the swap price for the ETH select blockchain network is really high which makes some people feel it is very burdensome.

[bhadz]

It is a big problem for the most and that's what hindering the development of these projects. But it seems to be a norm that for every project, fees are normal when they move higher because of the traffic that they cost. Some have proven to be good in preserving transaction costs. Bitcoin sometimes is quite high and with the price of moving higher, it will continue to be expensive but we can't do anything with that but to adopt LN.

[$crypto$]

Lol, this is something that I usually experience, when I don't have much time to wait and am forced to transact at the time when it usually spikes, and after that or a few moments later we can transact at a cheaper cost.

Or vice versa, when the fees are low or not too high, I usually wait a bit and hope that the fees will get cheaper, but what happens is that I lose that opportunity because the transaction fees are getting higher.

Yes, you're right about the vice versa as well. While waiting for fees to go down, you may eventually find yourself in a position where you have to pay even higher fees. This fee situation can be heartbreaking at times.

This is indeed a difficult thing, but we have to feel it and we have to make a decision right now, because the movement is too fast. This is one of the obstacles when we transact on the ETH network.

Maybe in the future they can create a solution to the problems experienced by users, because for investors with minimal capital, high fees will drain their profits and that is a bit annoying.

[Mr. Magkaisa]

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???

         -   When there is traffic congestion in the bitcoin network, I first use other crypto assets with low fees, such as Bnb, Sol, or maybe Polygon (Matic). This is what I always do when there is a problem with the other networks mentioned.

Now with ETH, even though its fee is high in its network, there are still other investors who believe that apart from ETH, there are also other potential coins under ERC20 that can give a good profit to the holders.