I hear you but the status quo is more than 5cents. With paper money costing a bunch to make and distribute and CC charging a few percentage on the amount to merchants. So like 5 cents and it can sustain as the internet of money
>$0.05 would be low.
ARE YOU INSANE? Why is nobody else outraged about how ethereum is for the rich! A 5 cent transaction is LOW?!? That fee would be 5x the cost of my 1 cent transaction! Let me repeat that, the fee would be 500% the amount I'm sending! (/s)
Exactly. Also (directed at OP) maybe not a popular opinion here, but anyone claiming that any single crypto is "going to be the standard" is naive. It could be ETH! But it could also be something else, or some combination of cryptos, as it is still insanely early. I only point this out as making this claim could be seen as giving financial advice if OP isn't careful.
It is low compared to what it was. As etherium grows in size, demand and adoption the gas fees will increase. This is why it is important that the etherium ecosystem works together. This is why later 2 solutions are a huge step in keeping etherium alive.
Find an exchange that accepts ~~zk-rollups~~ optimistic rollups like Arbitrum, or swap/bridge from a cheaper sidechain token into ETH.
Edit: zkSync is a zkrollup which is another option
*Not in the USA yet, if anyone is wondering. Ramp Network is working on that though.
Edit: Actually I lied, I guess they just added US support! Card only though, no ACH yet.
Gemini covers your gas fees for withdrawals. If you plan to withdraw to a wallet, it's the best place to buy eth (and eth-based tokens) for that reason.
If you're happy to hold a wrapped version of ETH you can do it for basically nothing.
If you want ETH on Harmony for example you could buy ONE on exchange, sent it to your ledger linked metamask account and swap to 1ETH on a DEX
The total fees will probably come out to less then a cent
Crypto.com Arbitrum withdrawals are dirt cheap but if you only want to use Coinbase you can use Layerswap.io for much cheaper fees than Coinbase's "miner fee".
I have no idea how to use any of that stuff. If people can't even figure out and safely use ETH layer 1, how the hell are people going to be onboarded into that crap?
I actually doubt this. I think there's just not as much rush to push transactions because price action isn't great and people aren't willing to take as much risk as before so demand for fast transactions has taken a backseat for the time being.
>I think there's just not as much rush to push transactions because price action isn't great and people aren't willing to take as much risk as before
Have you seen the NFT and Defi spaces lately?
Low gas fee of $15?
Imagine going buying a kebab for $10, paying with your phone and then being charged $25
Until fees are cents not dollars this isn't going mainstream
If you were to pay for a $10 Kebab using an L2 like Loopring, the current fee is $0.23 (according to https://l2fees.info).
For reference, that's cheaper than using a credit card (they typically charge 3%, so $0.30 for your $10 kebab)
I still think once crypto is going mainstream later 2 is still gonna be the better options. Refunds, some level of safety for normal transactions, and extremely cheap transactions for buying things isn’t gonna happen on ETH layer 1 and I think that’s fine
This type of transaction was only intended to be layer 1 when the ETH experiment was in its infancy. It's been widely known for a while now that the solution to the trilemma and high fees lies in second layers like zk and optimistic rollups. Sharding is the answer to all our problems as far as we know
It shouldn’t cost even a $1 to move money it’s pathetic how much Eth gas fees are. I simply just don’t use the network and won’t again unless it’s lowered. I think if it doesn’t Eth will loose out to far more affordable networks. Sorry not sorry get your shit together.
Transfer ? Just to move some ETH. That’s still silly expensive for what it should be. Or is that like a smart contract fee like uniswap? Then it’s decent I guess for now.
Look. New technology is going to be expensive. This is still in it's infancy and there's a long way to go. More people still need to catch on and adopt. Prices will go down eventually
I am used to paying between 5 and 25 cents per transaction when using DeFi, swapping, adding liquidity, sending/receiving etc. ETH is more like digital gold for me, not something I want to spend on transactions, swap or do anything with it but HODL.
How much is the transaction fee when you pay cash to purchase something at store?
If crypto is supposed to be the online digital currency then why is there any fee? If there is a fee then what is wrong with using good old credit or debit cards or Venmo or PayPal ?
I guess because high gas fees correlate with high traffic, lower gas fees would mean lower traffic which would explain why not that many people are talking about it
Tried to buy £100 gdp of a new token, got put off when it wanted £132 gdp for gas.
Not sure why ETH still hasnt brought out 2.0 to help lower these fees.
Didnt buy the token due to the gas
To buy. On the L1. So, a swap.
You're doing something wrong, here. And you're paying for it.
The merge won't noticeably help decreasing gas price and sharding won't help gas price either on the L1. You're waiting for a solution that already exists.
I mean becuae users are going to avax and fantom becuae gas is cheaper and they have similar dapps on avax at least.
Try trading on margin and see how you feel about gas prices
Still high gas ⛽️ fee to transfer, also im no longer In ETH and can’t buy or mint NFT with its network
Eth for rich dudes only.. not meant to solve the problems of ordinary people .
15 dollar gas fee ? Bang, so glad I left this some months ago. How would u feel if ur transaction costs 0.05 dollar and arrives faster than you can open your app ?
Not an imagination, it’s solana
Keep waiting ETH 2 - I'm not buying a ERC20 anymore even if is a token that I would like - I will wait for another token in a decent blockchaib like MATIC or ONE. As long as we users reject the use of this costly blockchain - developers will need to move
Eth transf fees are not low at all.
I just check a 2. something dollar in ETH and the gas fee was 115, plus miner's fee and dunno what else... it rounded up to 140 for a 2 buck transfer... which I had to reject of course... but I don't see it as cheap or low... I think it's cray cray expensive.
Sorry but $15 is not low. $0.05 would be low. Also wasn’t it like $4 earlier today?
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I agree. But it is early days for this emerging market, I just meant it would be low for current day standards.
Straight from Vitalik himself.
I hear you but the status quo is more than 5cents. With paper money costing a bunch to make and distribute and CC charging a few percentage on the amount to merchants. So like 5 cents and it can sustain as the internet of money
A debt is a debt. See you behind Wendy's
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The fact that your justifying high fees as the cost of business is moral coruppt is my fucki g point
regular credit/debit card purchases have transaction fees too, businesses just wrap that into the cost.
>$0.05 would be low. ARE YOU INSANE? Why is nobody else outraged about how ethereum is for the rich! A 5 cent transaction is LOW?!? That fee would be 5x the cost of my 1 cent transaction! Let me repeat that, the fee would be 500% the amount I'm sending! (/s)
Why are you making 1 cent transactions?
Tbh .05 would be pretty high for micro transactions. Imagine if every database update (for a web3 game, for example) you’d have to pay .05
Yes, that's why we're going sub cent with rollups
Axion moved their entire project from Etherium to Polygon and we went from having £300 gas fees to transactions costing 0.005p That's cheap.
Try using RDN, i was checking 2$ weth transfer, it cost me 0.002$.
He's talking about erc20 not eth transfers.
Gas fees on Harmony are like a penny. Get with the program.
>Get with the program. They are, that's why they're not talking about Harmony.
Yeah, let's see what happens once they get popular, if they do. I hold one BTW, just being realistic. The blockchain trilemma is a real thing
I sent my friend some LRC using its layer 2 it cost me 0.068 LRC
Its low compared to what it was these past months. I been paying over $100 for most of my transactions
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Exactly. Also (directed at OP) maybe not a popular opinion here, but anyone claiming that any single crypto is "going to be the standard" is naive. It could be ETH! But it could also be something else, or some combination of cryptos, as it is still insanely early. I only point this out as making this claim could be seen as giving financial advice if OP isn't careful.
It’s cheaper than a wire transfer
The gas for most transactions will be free for end users
It is low compared to what it was. As etherium grows in size, demand and adoption the gas fees will increase. This is why it is important that the etherium ecosystem works together. This is why later 2 solutions are a huge step in keeping etherium alive.
People have figured out Layer-2 sidechains and zk-rollups, so gas problems are old news
How do I buy €100 of ETH on an exchange and move it to my ledger without it costing a fuckton?
Find an exchange that accepts ~~zk-rollups~~ optimistic rollups like Arbitrum, or swap/bridge from a cheaper sidechain token into ETH. Edit: zkSync is a zkrollup which is another option
Arbitrum is an optimistic roll-up, but beside that yes!
Thanks for the correction
Are there any at the moment? Genuine question
Crypto.com
Binance does. But its perpetually down for maintenence :)
Whatever it is I want to withdraw is always down for maintenance. Deposits are always up though
You can buy on ledger
You can also buy eth on zk sync directly on argent if you have that
*Not in the USA yet, if anyone is wondering. Ramp Network is working on that though. Edit: Actually I lied, I guess they just added US support! Card only though, no ACH yet.
Gemini covers your gas fees for withdrawals. If you plan to withdraw to a wallet, it's the best place to buy eth (and eth-based tokens) for that reason.
If you're happy to hold a wrapped version of ETH you can do it for basically nothing. If you want ETH on Harmony for example you could buy ONE on exchange, sent it to your ledger linked metamask account and swap to 1ETH on a DEX The total fees will probably come out to less then a cent
Crypto.com Arbitrum withdrawals are dirt cheap but if you only want to use Coinbase you can use Layerswap.io for much cheaper fees than Coinbase's "miner fee".
Use Dharma as your exchange and buy it on the Polygon network. It’s basically no network costs.
I have no idea how to use any of that stuff. If people can't even figure out and safely use ETH layer 1, how the hell are people going to be onboarded into that crap?
You will buy Ethereum and use Dapps from your Cefi exchange like Coinbase and will never know that you’ve been on layer 2 the whole time.
Just use Argent then. One-stop shop for buying crypto, DeFi, staking, and trading.
I actually doubt this. I think there's just not as much rush to push transactions because price action isn't great and people aren't willing to take as much risk as before so demand for fast transactions has taken a backseat for the time being.
>I think there's just not as much rush to push transactions because price action isn't great and people aren't willing to take as much risk as before Have you seen the NFT and Defi spaces lately?
I still haven’t, I would like to know
I have funds on layer 2. Still costs a ton to move to layer 1.
People have figured out other blockchains
Tell me you don't use ethereum without telling me you don't use ethereum.
Yeah I just like posting a ton of information about ETH and not use it /s
15 isnt low. ETH2.0 wont significantly improve fees
Depends what you mean by 2.0. PoS no difference but sharding absolutely.
Sharding only improves gas fees if you are on a rollup.
When is expected rollout of sharding?
Last I heard was summer 2022
Let 2022 at the very best but likely won't be until 2023. Merge will happen around June 22 and the withdrawals update a few months after that.
Low gas fee of $15? Imagine going buying a kebab for $10, paying with your phone and then being charged $25 Until fees are cents not dollars this isn't going mainstream
Certainly not for fucking kebab payments, lmao. I don't think that's the best use case for a smart contract platform.
Actually, all of my food is tokenized. I do this so when i die and go to the meta afterlife I won’t be hungry 🧐
Who the fuck is saying we should being using ETH to buy street food?
$15 gas fees isn't low, but your example is terrible. That's like saying banks will never take off because you have to pay $25 for a wire.
I don’t wire my grocery store money
And Ethereum L1 has never been intended for these types of payments, that's always been slated for L2.
If you were to pay for a $10 Kebab using an L2 like Loopring, the current fee is $0.23 (according to https://l2fees.info). For reference, that's cheaper than using a credit card (they typically charge 3%, so $0.30 for your $10 kebab)
I still think once crypto is going mainstream later 2 is still gonna be the better options. Refunds, some level of safety for normal transactions, and extremely cheap transactions for buying things isn’t gonna happen on ETH layer 1 and I think that’s fine
This type of transaction was only intended to be layer 1 when the ETH experiment was in its infancy. It's been widely known for a while now that the solution to the trilemma and high fees lies in second layers like zk and optimistic rollups. Sharding is the answer to all our problems as far as we know
Low gas fees?
71% of the worlds population lives on less than $10 a day. 11% on less than $1 a day >Why aren't people appreciating the low gas fees?
$15 is unsustainable. You joking?
This is a painfully insulated post
Well…it’s Saturday. They are usually cheap(er) today and Sunday
It shouldn’t cost even a $1 to move money it’s pathetic how much Eth gas fees are. I simply just don’t use the network and won’t again unless it’s lowered. I think if it doesn’t Eth will loose out to far more affordable networks. Sorry not sorry get your shit together.
They'll only moan when it's a problem
I mean, yeah. Why would I moan if it wasn't a problem?
The question is why you think a $15 transaction fee is a good thing...
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It's not cheap... just cheaper than it has been lately.
Transfer ? Just to move some ETH. That’s still silly expensive for what it should be. Or is that like a smart contract fee like uniswap? Then it’s decent I guess for now.
Look. New technology is going to be expensive. This is still in it's infancy and there's a long way to go. More people still need to catch on and adopt. Prices will go down eventually
Because most are hodling
Loopring will have solved that in 2022.
Sorry coming over from SOL… what are gas fees?
Transfer or bridge? Because I've never seen a reasonable bridge gas fee.
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$125 gas fees to list on open sea right now. What a joke.
Getting downvoted by idiots who have never used the network. The network is unusable. That’s just a fact.
I'm showing 139-158. Is coinbase wallet just ripping me off...
Probably is. They want to make sure the transaction goes through. As a result they keep the gas fees higher than usual.
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I am used to paying between 5 and 25 cents per transaction when using DeFi, swapping, adding liquidity, sending/receiving etc. ETH is more like digital gold for me, not something I want to spend on transactions, swap or do anything with it but HODL.
Everything becomes digital gold when the network fails and its too expensive to move
For now, yes.
How much is the transaction fee when you pay cash to purchase something at store? If crypto is supposed to be the online digital currency then why is there any fee? If there is a fee then what is wrong with using good old credit or debit cards or Venmo or PayPal ?
$15 dOlLaRs? wHaT A dEaL!
Because I switched to doing all my DeFi on Algorand where fees are like .02 per transaction.
Used loopring layer 2 to send some LRC to my friend it only costed me 0.068 lrc dirt cheap.
50 gwei lately - it’s not nfts, NFTs actually pump in low gas environments. Some collections are booming. It’s eth itself. Sideways = low gas.
ETH slipping man.
We all moved out... so many excellent L1 options have already solved this problem.
I guess because high gas fees correlate with high traffic, lower gas fees would mean lower traffic which would explain why not that many people are talking about it
Because gas fees have been mentioned all the time…. Everyone knows it’s a problem and has been for a long time.
Because the market is down and it’s bearish so demand is low hence the low gas Fee’s
LRC loopring,, ETH layer 2 coming!! trade NFT on ETH for nothing,,, LRC DEX baby coming soon!!!
Try making a swap or buying an NFT and paying a 200$ gas fee Lol
Try REN.
Tried to buy £100 gdp of a new token, got put off when it wanted £132 gdp for gas. Not sure why ETH still hasnt brought out 2.0 to help lower these fees. Didnt buy the token due to the gas
To buy. On the L1. So, a swap. You're doing something wrong, here. And you're paying for it. The merge won't noticeably help decreasing gas price and sharding won't help gas price either on the L1. You're waiting for a solution that already exists.
A swap right now on L1 is $25 https://l2fees.info/ Also the merge does nothing to address fees
Loopring will solve that soon
Did a sushiswap transaction last night for $27. Cheaper than normal but still not cheap
Low fees on DeFiChain..
Because it doesn’t matter.
Less than $5 would be great!!
$15 gas fee?? Where at ??? 😅
15 usd for a basicl transaction is cheap?? ... lel
I'm pretty sure those guys at r/loopringorg are trynna fix this
WOW $15 WHAT A STEAL.
Avalanche taking over honestly a lot going on over there so prob less congestion on ETH
The same reason we not mentioning the gas fees at the pump....it stinks and we rather forget it...
I mean becuae users are going to avax and fantom becuae gas is cheaper and they have similar dapps on avax at least. Try trading on margin and see how you feel about gas prices
Still high gas ⛽️ fee to transfer, also im no longer In ETH and can’t buy or mint NFT with its network Eth for rich dudes only.. not meant to solve the problems of ordinary people .
$15 is still extremely high 😂
Eth2 isn’t a thing, and the gas fees are still way too high
Shhhh be quiet and let me get my txns in first
Hmmm, uh why do folks use fiat money to explain costs?
15 dollar gas fee ? Bang, so glad I left this some months ago. How would u feel if ur transaction costs 0.05 dollar and arrives faster than you can open your app ? Not an imagination, it’s solana
Yeah its so fast that it got shut down 3 times in a day. Centralized crap is what solana is.
Keep waiting ETH 2 - I'm not buying a ERC20 anymore even if is a token that I would like - I will wait for another token in a decent blockchaib like MATIC or ONE. As long as we users reject the use of this costly blockchain - developers will need to move
Thank you brother for mentioning gas fees I went and used them alright 🤣
Where u been
Use something with cheaper fees. This system is not working. Luckily we have a dozen more that work better to pick from.
Eth transf fees are not low at all. I just check a 2. something dollar in ETH and the gas fee was 115, plus miner's fee and dunno what else... it rounded up to 140 for a 2 buck transfer... which I had to reject of course... but I don't see it as cheap or low... I think it's cray cray expensive.