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

[nakamura12]

It depends on the person doing transactions because some people doesn't have lots of money which they need to find a way to spend less money on transaction fees and some people do have lots which they don't mind paying high fee for each transactions. For me, if I have a crypto in an exchange and they are planning something shady then I am willing to pay the fee in order to get the funds out of there or something like a casino where transaction fee cannot be changed.

[jeraldskie11]

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???

One of the biggest fees in crypto is Ethereum. There are people who can really manage to transfer assets with a high fee. Personally, having a high fee in order to withdraw is a problem. Imagine you only want a small amount of assets but the fee is nearly the same value from token you've sent. This issue are trying to be fixed by many alternative cryptocurrencies and we can see that this really matters because they gathered many investors, and maybe some of them came from the tokens who needs to pay a higher fee.

Yes, when it comes to fees then the primary coin or chain that you would really be having in mind would really be ETH or any under it. On the moment that you do make out transactions
specially on a peak situation on means that there are tons who do make out transaction then fees goes incredibly insane and this is why its one or not the main
problem about ETH on which of its high gas fees but surprisingly there are still tons who do make use of it despite of that kind of problem.
IF they would really be able to resolve that then it would really be that great.

I don't think ETH will fixed that issues but I'm still hoping that there will be a solution to come in the future. There are so many users in ETH because aside from the second most trusted coin, they like the mechanism of this coin, especially its staking feature. In the first place, lot of investors who bought at very cheap and still holding, and while making from passively the value of their investment is gradually increasing. So that might be the reason investors keeps their investment on ETH even though the fees are so expensive.

[Zed0X]

~
IF they would really be able to resolve that then it would really be that great.

I don't think ETH will fixed that issues but I'm still hoping that there will be a solution to come in the future.

Do not expect the Ethereum devs to do anything to significantly reduced the transaction fees. They will probably just increase the standard gas limit just a bit and that's about it.

Ethereum is also thriving because of the layer 2 platforms that are there, I doubt they would want to take away their main selling point which is cheaper transaction fees.

[Stompix]

What I noticed is that the more popular crypto becomes and expensive, i am talking about bitcoin, the high chance of us seeing a high transaction fee.

Well, BTC is nearly at its ATH, the price is holding, and despite that, since March fees have constantly gone down, right now you can get confirmation with 5.1 sat/vb in a few blocks.
Also, doge never got expensive because of its capacity, the average fee is 4 cents, median is below one cent.

[joniboini]

Ethereum is also thriving because of the layer 2 platforms that are there, I doubt they would want to take away their main selling point which is cheaper transaction fees.

My experience tells me layer 2 is far from cheap, especially if you're dealing with smart contracts. Maybe things changed recently, but I don't feel any difference between ETH and most layer 2 fees. I guess we will feel significant changes when the network activity drops for a long period of time so the deve has incentive to make the network attractive again. Until then I also doubt it will get cheaper.

[MUGNIA]

It depends on the person doing transactions because some people doesn't have lots of money which they need to find a way to spend less money on transaction fees and some people do have lots which they don't mind paying high fee for each transactions. For me, if I have a crypto in an exchange and they are planning something shady then I am willing to pay the fee in order to get the funds out of there or something like a casino where transaction fee cannot be changed.

agree with you, and will do anything if it gets out of control to save assets from anywhere, if it's not an emergency it's better if I hold it in my wallet or exchange

[AVE5]

So in your personal opinion, are transaction fees really the biggest problem in the world of cryptocurrency???

Apparently it's because users considered the value of the coin to trade or rather transact with and Small amount of fund with a highly transaction fees doesn't seem convenient for users to execute their transactions but those running a big amount of transactions may really not care about the high fees maybe because they've enough to overlook the amount of fee. So, the high fee really is a disturbance for transactions.

[Roseline492]

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.

expensive. So in your personal opinion, are transaction fees really the biggest problem in the world of cryptocurrency???

Honestly I cannot speak for everyone because each and every has there own challenges in cryptocurrency in regards to what work more better for them but however for me transaction fees is not a problem or rather a challenge for me because I only focus on buying Bitcoin and holding and when it comes to holding there is no way you could be affected by Bitcoin fees.

But however for those who majorly focus on transferring there Bitcoin from one wallet to another are actually the ones that normally get affected by the Bitcoin fees, also for those who invested on other altcoins especially BNB are safe from any high fees in transaction but when it comes to ETH the fees use to be very high and you can imagine how much someone would spend in terms of having numerous transaction a day.

[bayu7adi]

Honestly I cannot speak for everyone because each and every has there own challenges in cryptocurrency in regards to what work more better for them but however for me transaction fees is not a problem or rather a challenge for me because I only focus on buying Bitcoin and holding and when it comes to holding there is no way you could be affected by Bitcoin fees.

But however for those who majorly focus on transferring there Bitcoin from one wallet to another are actually the ones that normally get affected by the Bitcoin fees, also for those who invested on other altcoins especially BNB are safe from any high fees in transaction but when it comes to ETH the fees use to be very high and you can imagine how much someone would spend in terms of having numerous transaction a day.

For holding needs, transaction fees don't really matter... however, even people who are active enough to use Bitcoin for transactions sometimes don't care about transaction fees because the amount of transaction fees is sometimes relatively small for some people... so that's not the case. it affects their finances... but for some people it is quite influential...

In my personal opinion, large transaction fees are an obstacle for someone who wants to be more active in making transactions... so when I want to buy or use cryptocurrency for more active purposes for transactions, I tend to use altcoins such as LTC or DOGE... For long-term holding, my current choices are only BTC, ETH and BNB.

[Rubel007]

Transaction fees are definitely an important factor in using cryptocurrencies. If transaction fees are low for using a particular cryptocurrency, and if that crypto can help build investor confidence, then surely transaction fees play a crucial role in the expansion of that project. Users are discouraged from paying high transaction fees. Moreover, if the transaction fee is high, the volume of transactions will decrease. For any good project, if the transaction fee is low, then that project can gain popularity quickly.

[NotATether]

In my personal opinion, large transaction fees are an obstacle for someone who wants to be more active in making transactions... so when I want to buy or use cryptocurrency for more active purposes for transactions, I tend to use altcoins such as LTC or DOGE... For long-term holding, my current choices are only BTC, ETH and BNB.

BNB is not a good long-term choice because you are banking on the fact that Binance still exists. Maybe they won't exist after 5 years. This will definitely destroy the price of BNB, so BTC and ETH are the only valid holding options. If you don't care about number go up, XMR too.

[Makus]

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.

expensive. So in your personal opinion, are transaction fees really the biggest problem in the world of cryptocurrency???

Honestly I cannot speak for everyone because each and every has there own challenges in cryptocurrency in regards to what work more better for them but however for me transaction fees is not a problem or rather a challenge for me because I only focus on buying Bitcoin and holding and when it comes to holding there is no way you could be affected by Bitcoin fees.

But however for those who majorly focus on transferring there Bitcoin from one wallet to another are actually the ones that normally get affected by the Bitcoin fees, also for those who invested on other altcoins especially BNB are safe from any high fees in transaction but when it comes to ETH the fees use to be very high and you can imagine how much someone would spend in terms of having numerous transaction a day.

The current fees of Bitcoin transactions is very much affordable compared to times where there is a serious mempool congestion. The mempool isn't filled up and your transaction can get approved almost immediately, the fees aren't too high. Irrespective of the purpose of transaction I believe the fee is affordable by everyone. However the most important thing is that your transaction doesn't have to spend a whole day in the mempool waiting for other transactions with high fees to get confirmed before yours. Aside Bitcoin other networks that I recently used also provides low fees Tron, USDT..... Their fees are extremely cheap.

[bitterguy28]

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

when other things are perfected such as security and liquidity maybe even volatility then we can say that transaction fees can be worth it however high transaction fees is what hinders us from using a particular coin on a daily basis

it would depend on how you use a coin because if you are someone who uses coins on a daily basis but only in small amounts then it may be a problem

[pakhitheboss]

So in your personal opinion, are transaction fees really the biggest problem in the world of cryptocurrency???

It all depends on the blockchain that I am using. For example, a few months back the transaction fee of Bitcoin in USD was above $40 which is nonsense for me. I had to wait to transfer my satoshi to a different wallet for more than a week which was unacceptable. Today the transaction fee has gone down incredibly and it is in some cents which is acceptable to me. Yes, transaction fees do matter to me and it is another problem that everyone has to face when the network is congested.

[Wiwo]

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 a 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.

Who will pay a higher fee and be ok with that?

I think anyone will go for a cheaper form of alternative if it comes to carrying out transactions, I think it better for us to first settle the misunderstanding around this discussion, because at this point we need to choose between necessity Vs on options, I have Ethereum in a wallet and I want to exchange it or get it transferred to another wallet, what I should look at is.

1: what is the urgency of the transactions?

2: what alternative do I have?

Once I can settle the above questions from then I know whether or not to pay the fees available.