Fluctuating Ethereum gas fees.

[Niftyyem]

Earlier in the day, I was sending $3ETH from one wallet to another and the fee was $1.36 and I was thinking to put it on hold since it was not urgent. A few minutes later, I went through the process again and the fee was $0.45, so I concluded the transaction.
Does this mean that there are fluctuations in transaction fees on ethereum just like on bitcoin network?

 

[Ralphjoe]

Ethereum is a great cryptocurrency but the only issue that I have with this cryptocurrency is the fact that the transaction fee is always high and so I have discovered another cryptocurrency which has a lower transaction fee and I have been using it since. This cryptocurrency is called Litcoin.

 

[Senator]

Of course there are fluctuations in the ethereum gas fee for sending and transacting in the ethereum coin. The fluctuations can be very wide most times because the ethereum network can be overloaded sometimes

 

[Sincerem]

Ethereum is now worth $4,029. The gas fee is much no doubt, i wonder why the exorbitant fee where charged from you, since it was a small amount that you authorised.

 

[btaliat]

That's why I go with litecoin. Its transaction fee is none to the best. And with your illustration and experience with ethereum, it may be that there may be fluctuation in gas fee

 

[GIFTMICHAEL]

Ethereum charging such amount of gas fee in the region of $1.36 for just $3 transaction is very dreadful i must say the least around it. They should charge little based on the amount of the transaction.

 

[Chibson]

Yes there are fluctuations encrypto currencies gas fees. it is not only limited to ethereum because I have also noticed it other cryptocurrencies. Sometimes the gas fees can be annoying.

 

[Sincerem]

That's why I go with litecoin. Its transaction fee is none to the best. And with your illustration and experience with ethereum, it may be that there may be fluctuation in gas fee

That's why most online reward sites prefer paying in LTC, BCH than paying through ETH or BTC whose gas fee raises alarm cos of its high rate.

 

[Kunkun]

I had no idea there was usually flunctuations in the gas fees of ethereum, I know the gas fees are high though and that has been a major issue for most people when. Investing in the coin due to the high gas fees involved

 

[Sincerem]

As long as the coin is high, for sure the gas fee will go high. If the value comes down same with the gas fee. So the lower coins command lesser gas fee cos they haven't reach the height of BTC or ETH.

 

[Eodine]

Of course, transaction fees differ from time to time as I noticed with bitcoin some while ago that I could send bitcoin for lesser transaction fee at night due to reduced traffic.

 

[Damscooguns73]

Concerning fluctuation in ethereum gas fee. Well, I believe that there is always a fluctuation to transaction fee in the crypto currency not just ethereum. But the ethereum transaction fee seems to be more high than the other cryptocurrency in the crypto market

 

[BrolySSJ]

As long as the coin is high, for sure the gas fee will go high. If the value comes down same with the gas fee. So the lower coins command lesser gas fee cos they haven't reach the height of BTC or ETH.

This does make sense because the amount of transactions on the network at any given time will be much higher. However if you look at other cryptocurrency that have also increased drastically in value they are still able to maintain a relatively low transaction fee and this is where I think the major paper currencies actually fall short.

 

[Sincerem]

This does make sense because the amount of transactions on the network at any given time will be much higher. However if you look at other cryptocurrency that have also increased drastically in value they are still able to maintain a relatively low transaction fee and this is where I think the major paper currencies actually fall short.

That's it, they've fallen short of that. They shouldn't be very high in gas fee in any way. It should be charge in an affordable way, and not charging you more than you're withdrawing.

 

[BrolySSJ]

That's it, they've fallen short of that. They shouldn't be very high in gas fee in any way. It should be charge in an affordable way, and not charging you more than you're withdrawing.

I have noticed this especially when you are trying to make a transaction with this cryptocurrency and the transaction fee is actually greater than or equal to the actual value of the transaction. Personally I don't think that cryptocurrencies like this will survive if they continue along this path.

 

[Sincerem]

I have noticed this especially when you are trying to make a transaction with this cryptocurrency and the transaction fee is actually greater than or equal to the actual value of the transaction. Personally I don't think that cryptocurrencies like this will survive if they continue along this path.

Hmm, that's a shame, i don't see why small investors will suffer like that when withdrawing their coins directly to another wallet. With Binance, i just convert my ETH to USDT or BNB coin and send out.

 

[BrolySSJ]

Hmm, that's a shame, i don't see why small investors will suffer like that when withdrawing their coins directly to another wallet. With Binance, i just convert my ETH to USDT or BNB coin and send out.

That is a much better option. What I tend to do is that I take my ethereum and convert it to dgb to withdraw it or LTC. I tend not to make transaction with eth as the smart contracts can be quite confusing and some do not accept smart contracts as well.

 

[FreshKaz11]

Earlier in the day, I was sending $3ETH from one wallet to another and the fee was $1.36 and I was thinking to put it on hold since it was not urgent. A few minutes later, I went through the process again and the fee was $0.45, so I concluded the transaction.
Does this mean that there are fluctuations in transaction fees on ethereum just like on bitcoin network?

I guess the fluctuations in transactions fees on ethereum is the same thing with the one in Bitcoin as well. They don't have a stable transactions fee for now,we hope for the best tho.

 

[Niftyyem]

I guess the fluctuations in transactions fees on ethereum is the same thing with the one in Bitcoin as well. They don't have a stable transactions fee for now,we hope for the best tho.

Yeah! We all hope that there would be an improvement to help reduce those ridiculous fees but for now, I just convert the ETH into a smaller coin with low fees before sending it.

 

[Sincerem]

That is a much better option. What I tend to do is that I take my ethereum and convert it to dgb to withdraw it or LTC. I tend not to make transaction with eth as the smart contracts can be quite confusing and some do not accept smart contracts as well.

The best is to avoid Ethereum, if you don't understand how the smart contract works. Majority of people have lost their funds cos of such scenario when it comes to smart contract wallet and none smart contract wallet or exchanger.