Gas fees

[Zed0X]

The reason is that sometimes the costs we have to pay are very high, and even higher than the transactions we will make. I also usually wait until the gas fees are lower before transacting.

Actually this is a disadvantage for me because every time i go to transactions then i see the gass fee is very high. However, gas prices can rise during peak activity times as users compete to process their transactions faster. When demand exceeds the network ability to process transactions, users must compete for limited block space and gas prices are high. But this is especially true for small transactions or users with limited budgets as high fees can reduce the accessibility and attractiveness of using ethereum. It should operate quickly because investors will look for other chains.

The gas for transferring ETH between wallets is not that high (it's about 7 gwei, ~$0.50). It's the interaction with various smart contracts on the Ethereum network that's making it expensive. If you're not that much of a big player, you might as well just use centralized exchange for small trades.

[rdluffy]

The gas for transferring ETH between wallets is not that high (it's about 7 gwei, ~$0.50). It's the interaction with various smart contracts on the Ethereum network that's making it expensive. If you're not that much of a big player, you might as well just use centralized exchange for small trades.

Yes, exactly
If you're just transferring to another wallet, you can use the ETH network as normal
But when you need to make a swap that requires 2 txs, 1 for approval and the other for the swap, things start to get more expensive

Usually a user who is going to do a DeFi operation does the following:
Swap from ETH to a token> 1 tx
Approval of 1 token for the contract > 1 tx
Contract > 1 tx - being the most expensive tx

Then there's the reverse path
These 3 fees nowadays don't cost less than 10 dollars in total 

[vegasus]

...
Anyway, the updated fee right now is around 5 - 6 in Etherscan gas tracker.

I have some transactions to make but so far it's been expensive to do them
I'm going to keep an eye and get everything ready because I think that in the early hours of today and tomorrow (24 and 25), as it's a holiday, the fees should drop considerably and I'll make the transactions
I'm hoping that the rates will reach 3 or 3.5 Gwei, maybe even less
I'll try to save some money hehehe

The gas fee is still always changing. And now the fee is around 7 - 10 gwei, up and down in that rate.
The rise and fall of gas fees on the Ethereum network is still acceptable actually. Or if it goes up, it has only reached tens. so it is still quite affordable. The problem last season was when the gwei could be tens and even if not wrong hundreds of gwei at that time, making us very burdened when transferring tokens at that time, especially if the situation was very busy on the network and with a large number of transfers. but for now, all of that is still normal with the amount of gwei that must be issued.

and yes, if for example it is still considered high enough to make a transaction, it is better to just wait until the gwei amount goes down. because it will definitely change continuously. we just need to check more often and keep an eye on if meag is going to transfer.

[armanda90]

The gas for transferring ETH between wallets is not that high (it's about 7 gwei, ~$0.50). It's the interaction with various smart contracts on the Ethereum network that's making it expensive. If you're not that much of a big player, you might as well just use centralized exchange for small trades.

Current gwei right now have increasing up to 15 gwei and take above $1 for every transaction with slow option, not recommended yet for small trader using Dapp for exchange exactly for Ethereum network.
Better using CEX exchange not require for paying gass fees transaction and have bigger fees for spending if swap at Ethereum network exchange or CEX.
I use Dapp transaction with ETH network if any coins not listing yet at CEX transaction and waiting until the lower gass fees and if available at CEX will sell there.

[salad daging]

The gas for transferring ETH between wallets is not that high (it's about 7 gwei, ~$0.50). It's the interaction with various smart contracts on the Ethereum network that's making it expensive. If you're not that much of a big player, you might as well just use centralized exchange for small trades.

Current gwei right now have increasing up to 15 gwei and take above $1 for every transaction with slow option, not recommended yet for small trader using Dapp for exchange exactly for Ethereum network.
Better using CEX exchange not require for paying gass fees transaction and have bigger fees for spending if swap at Ethereum network exchange or CEX.
I use Dapp transaction with ETH network if any coins not listing yet at CEX transaction and waiting until the lower gass fees and if available at CEX will sell there.

Gasfee ETH is now back to its lowest point.

If the token was already listed on CEX then it is more likely to sell there but there are still some tokens on DEX so it is forced if they have to sell at a higher cost.

But it's up to them to do wherever now interacting with Dapps is more profitable even though it costs a lot of money.

In the sense that using Dapps there is still the potential to get points from certain criteria.

[rdluffy]

Now is a great time to make some transactions in ETH
I took the opportunity to make a bridge that I was waiting for, and removing some tokens from the ETH network so I can have more freedom to sell or put them in some DeFi protocol in the L2s layers

Great time to make txs to have an “onchain footprint” for those who also farm airdrops
It's hard to see under 3 Gwei, but again, there's room to improve

[yohananaomi]

...
Anyway, the updated fee right now is around 5 - 6 in Etherscan gas tracker.

I have some transactions to make but so far it's been expensive to do them
I'm going to keep an eye and get everything ready because I think that in the early hours of today and tomorrow (24 and 25), as it's a holiday, the fees should drop considerably and I'll make the transactions
I'm hoping that the rates will reach 3 or 3.5 Gwei, maybe even less
I'll try to save some money hehehe

The gas fee is still always changing. And now the fee is around 7 - 10 gwei, up and down in that rate.
The rise and fall of gas fees on the Ethereum network is still acceptable actually. Or if it goes up, it has only reached tens. so it is still quite affordable. The problem last season was when the gwei could be tens and even if not wrong hundreds of gwei at that time, making us very burdened when transferring tokens at that time, especially if the situation was very busy on the network and with a large number of transfers. but for now, all of that is still normal with the amount of gwei that must be issued.

and yes, if for example it is still considered high enough to make a transaction, it is better to just wait until the gwei amount goes down. because it will definitely change continuously. we just need to check more often and keep an eye on if meag is going to transfer.

I think that change will always happen, especially when the market situation is busy. There will be changes that, of course, we may not like, but there is always an opportunity not to make a transaction if it is indeed considered very high by waiting for the price to drop. The problem is if we need it and inevitably end up doing it even with a high price and there is no choice but to do it. I think everyone knows about this network and there is always a dilemma when the price is high when needed.

[JISAN]

Have you also noticed how high gas fees are lately? $4 for eth transfer and also $16 for other erc20 token transfer why?

Due to such high gas fee of ETH they lost many small users long ago and BSC chain became very popular at that time with that opportunity.  And now besides bsc there are some good chains for less transaction free they are SOL , NEAR , TON , BSC , BASE and due to this ERC-20 chain usage is very less now I have done any single transaction in ETH since 2021  I don't remember.  Such high fee of ETH is very expensive and it is very annoying

[Stompix]

and yes, if for example it is still considered high enough to make a transaction, it is better to just wait until the gwei amount goes down. because it will definitely change continuously. we just need to check more often and keep an eye on if meag is going to transfer.

And if everyone waits and then decides to make their transactions when it gets low, it won't spike again? 
imagine if banks or shops had this thing, you need to pay an extra fee depending on how many people are behind you in a queue, anyone promoting such a thing would be lynched but somehow it is tolerated in crypto, why?

Fees go down for one single reason, and it's not ETH it's also happening with Bitcoin, the usage goes down, meaning that once you tell 100 times to users to wait a few days for a TX or otherwise they need to pay $10, they will simply migrate to a cheaper option, and this is seen in every graph, people don't use USDT on Tron because whatever gimmicks Tron advertise, they use it because its cheap, and slowly but surely everyone is moving away from it.

[sampoerna]

Now is a great time to make some transactions in ETH
I took the opportunity to make a bridge that I was waiting for, and removing some tokens from the ETH network so I can have more freedom to sell or put them in some DeFi protocol in the L2s layers

Great time to make txs to have an “onchain footprint” for those who also farm airdrops
It's hard to see under 3 Gwei, but again, there's room to improve

Wow, now it has started to rise again to a rate of 7 - 9 gwei. Well, the gas on the Ethereum network changes very quickly. This means that if we want to send a transaction, often check how much the gwei is because it is indeed that significant and sometimes the changes are that fast. Even when altcoin season occurs, usually the increase will be quite high. That's why if we want to transfer coins or tokens, it's better to do it before altcoin season occurs, it's cheaper and faster, because it's not crowded during altcoin season and it's not that high of course.

[dave_strider]

and yes, if for example it is still considered high enough to make a transaction, it is better to just wait until the gwei amount goes down. because it will definitely change continuously. we just need to check more often and keep an eye on if meag is going to transfer.

And if everyone waits and then decides to make their transactions when it gets low, it won't spike again? 
imagine if banks or shops had this thing, you need to pay an extra fee depending on how many people are behind you in a queue, anyone promoting such a thing would be lynched but somehow it is tolerated in crypto, why?

Fees go down for one single reason, and it's not ETH it's also happening with Bitcoin, the usage goes down, meaning that once you tell 100 times to users to wait a few days for a TX or otherwise they need to pay $10, they will simply migrate to a cheaper option, and this is seen in every graph, people don't use USDT on Tron because whatever gimmicks Tron advertise, they use it because its cheap, and slowly but surely everyone is moving away from it.

Agreed.
And that's why there is a Lightning Network for Bitcoin and L2s on ETH to carve out the possibility of such fees. Simple as that.
People, sometimes, need a solution fast, not to wait for the main network to re-congest itself.

[Stompix]

`

Agreed.
And that's why there is a Lightning Network for Bitcoin and L2s on ETH to carve out the possibility of such fees. Simple as that.

Simple...as that!
That's the thing, it's not simple, that's why we have a total of 5000 BTC in total capacity, which is by far not the ready-to-be-transacted sum despite years over years of high fees, and this is why we're bleeding channels, at least in BTC, I don't know the situation over ETH.
People like simple things, that's why when you start talking sharding l2, l3, they remember they just need to swipe their card for a payment.

[Stuart]

Have you also noticed how high gas fees are lately? $4 for eth transfer and also $16 for other erc20 token transfer why?

I think the ETH network always have this issue when the market is facing a bull run, and the high transfer of different tokens makes the network become highly congested, and the demands for faster transfers to take place with the use payment of higher amount for transactions confirmation. I was thinking SOL could be cheaper in a situation where the network is congested, but seems that's not true.

Recently, I have not made any transactions from the ERC network, so I don't really know if the price must have dropped as the rate of transactions as reduced.

[armanda90]

Now is a great time to make some transactions in ETH
I took the opportunity to make a bridge that I was waiting for, and removing some tokens from the ETH network so I can have more freedom to sell or put them in some DeFi protocol in the L2s layers

Great time to make txs to have an “onchain footprint” for those who also farm airdrops
It's hard to see under 3 Gwei, but again, there's room to improve

Moving ERC20 coins with gas fees very worth it because only spend few cent but right now gas fees have increasing up to 18 Gwei and take above 2$ for each coins sending. Usually if have any airdrop ERC20 claiming always not have right time because GWEI increasing drastically and we must spend much fees, I think if any coins with ETH network holding at wallet must be patient waiting when gas fee down usually at the early morning.
I have one ERC20 coins holding right now and values under $20 looks still not profitable moving to CEX exchange, waiting gas fee drop drastically until 1 GWEI how to get most lower fees transaction.

[yohananaomi]

Have you also noticed how high gas fees are lately? $4 for eth transfer and also $16 for other erc20 token transfer why?

I think the ETH network always have this issue when the market is facing a bull run, and the high transfer of different tokens makes the network become highly congested, and the demands for faster transfers to take place with the use payment of higher amount for transactions confirmation. I was thinking SOL could be cheaper in a situation where the network is congested, but seems that's not true.

Recently, I have not made any transactions from the ERC network, so I don't really know if the price must have dropped as the rate of transactions as reduced.

It is difficult to avoid a situation like you said, because the market is increasing and transactions are also very high, it is inevitable that fees will be reduced to be cheaper and the possibility is small. This is a problem that always occurs on the ethereum network and has been tried in the past but cannot be suppressed either.
I think other networks can still be suppressed, and it is no wonder that many people use them as an alternative, but I, like you, have not used the ethereum network for a long time, so I don't know at this time.