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High transaction or gas fees on Cryptos - Will it ever reduce ?

  • Thread starter Thread starter Kayzzy3
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Justin said:
I think the initial cost of producing renewal energy is higher than fossil fuel but in the long run they become cheaper alternative. If cheaper energy is used, gas fees will reduce.
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This is also affecting everybody that is buying cryptocurrency the high transaction and gas fee will reduce the amount of cryptocurrency which you purchase a don't know when this will stop.
 
Erik4150 said:
I don't think transactions fees will ever reduce. The transaction fee depends on the coin you are using and bitcoin has the highest transaction fee because of its value. If you want to avoid paying too much transactions fee, why not use litecoin for transactions. It has lower transactions fee.
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Most cryptocurrency transaction fees do reduce when this cryptocurrencies improve on their technology and most times, these things happen periodically so there is a big potential or most cryptocurrency transaction fees reducing in the future.
 
I think concerning the transaction fees or gas fees will reduce on cryptocurrency market, but depending on the transaction you want to make.
 
Well the earlier they start reducing the better because they have been a discouraging factor to many investors, if the fees are reduced and made reasonable then that would be good for investors
 
Some cryptocurrencies has low gas transaction fee while the transaction fee of some are very high especially ethereum and dogecoin. Tron and litecoins are very fair in their transaction charges.
 
high transaction in cryptocurrencies depend on the type of cryptocurrencies you are using for the transaction ,there are some cryptocurrency with lower transaction fee, I don't think it'll ever reduce but it might keep on increasing.
 
Kayzzy3 said:
It is not new anymore that transaction or gas fees are charged whenever crypto currency transactions are to be done.

Worthy of note anyway, is that transaction or gas fees for the two foremost Crypto Currencies - BTC and ETH and very high and most times considered unreasonable for people conducting minimal transactions.

If you can relate to this, will it ever reduce? And when do you think the blockchains will effect this reduction??
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That's why I go for the less gas fee crypto currency which is litecoin is very easy for transaction and it is very safe as well. So I will sugg st we all should embrace it as well.
 
From my observation it the plagship coin like bitcoin that has a very huge transaction fees,and this is because of the value of its coin.But what i usually make use of for my transaction,is the litecoin and its fees are relatively low.
 
Yeah , with ethereum 2.0 , the fees have reduced for sure. Talking about bitcoin transaction fees , it still remains the issue. But the positive thing is almost all other crypto have got less than 1 cent transaction fees.
 
Something should be done to address the high transaction fee of some cryptocurrency as it makes people to avoid investing and trading with it due to it high transaction fee.
 
ETH 2.0 ws launched with the hope to lower the transaction cost and improve the transaction speed. However, this did not happen. I do not think transaction cost will reducde.
 
Ethereum built another technology that's known as ETH 2.0 and it's said to have lower fees than the first one but still the fees is higher compared to some coins
 
The gas fees or the transaction fees is the minors fees. It will not decrease, in fact it will continue to increase. That's because the rewards per block is also continuously decreasing.
 
I don't think they'll be a reduction in gas or high transaction fee anytime soon unless the price of Bitcoin or Ethereum drops drastically. It's one thing to purchase these Cryptos and another, you've got to deal with high transaction fee.
 
As for the transaction fee for trading in the Bitcoin, the more the Bitcoin keeps increasing in price the more the transaction fee increase too. Don't know much about the ethereum gas fees though
 
This is the reason why people prefer to transact with other smaller currencies that don't require high fees to work such as Tron.
Honestly, if things keep going like this then I feel the aim of using cryptocurrency would be dashed - transacting in Fiat currency doesn't require such high charges.
 
The higher the value of cryptocurrencies get the higher the gas fee will be high, so if the Cryptocurrencies don't lose value I don't know think it will reduce in the gas fee. Unless the cryptocurrencies Wallets just decide to reduce it which I doubt.
 
Even with the most popular cryptocurrency such as bitcoin, etherum, and Tronx, the high transaction or gas fee on crytocurrencies is not showing any meaningful trend of decline, and I do not believe it will ever come down. However, I believe that policy review will result in a change in the future.
 
I am not sure what raises the transaction fees of cryptocurrencies, but I think the transaction fees could reduce if the network gets unclogged. Most of the time, the fees increases a lot when the network gets clogged a lot.
 
Any cryptocurrency that is still allowing people to transact with high transaction fee then they are doing their self more harm than good ,because a lot of cryptocurrency are reducing transaction fee to attract more people to transact with them, that of bitcoins has reduced and I believe every other cryptocurrency will follow the same..
 
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