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

[Kayzzy3]

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??

 

[Elizemma]

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[GoldenLady]

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??

I believe the high gas fees for these coins will always stay the same. Being the most expensive and well known, it's expected from them.

The only way is to find a time when less transaction are going on and gas fees are lower to make your own transaction more easily.

 

[WhiteHouse]

The higher the value of crytpocurrencies 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 crytpocurrencies Wallets just decide to reduce it which I doubt.

 

[Niftyyem]

The high gas fees just show that those coins have their networks very busy as at the time the transaction is being carried out. There is nothing that can be done about that than to find a time when the network is less busy to carry out your transactions.

 

[Kamon c4]

The higher the value of crytpocurrencies 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 crytpocurrencies Wallets just decide to reduce it which I doubt.

That’s true. Transaction fee and gas fee aren’t static. They are charged in cryptocurrency. Transaction fee increases with increase in the value of bitcoin. The directly proportional to each other. It’ll only get better if there’s a static transaction fee

 

[Nurudeen]

I don't think the gas fee or transaction fee for both coin will ever go down because they mostly use the price of the coin to determine it's transaction fee so I fhr price of the coin is going high definitely the gas fee too will be high and you will still make money

 

[BrolySSJ]

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??

I think that there may be a reduction in the ethereum fees in the future however to be honest I don't thinlk that there is likely to be a change in the bitcoin fees anytime soon. The Bitcoin network as much as it is the main cryptocurrency is currently not equipped in being able to handle many transactions at the same time and this disappointing fact is the reason why the network becomes so congested with traffic and there are high fees that then follow from this. It is my hope that in the future this will change, however I don't hold out too much hope for this actually happening.

 

[Erik4150]

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.

 

[Prettybabe]

If there will ever be reduction in gas fee of Etherum and Bitcoin is what we don't know. But since you asked, I don't think so. I don't think gas fee is static though, if you are lucky to find a time the gas fee is low... You can quickly make your transaction at that moment.

 

[Kayzzy3]

I think that there may be a reduction in the ethereum fees in the future however to be honest I don't thinlk that there is likely to be a change in the bitcoin fees anytime soon. The Bitcoin network as much as it is the main cryptocurrency is currently not equipped in being able to handle many transactions at the same time and this disappointing fact is the reason why the network becomes so congested with traffic and there are high fees that then follow from this. It is my hope that in the future this will change, however I don't hold out too much hope for this actually happening.

To be honest the most painful of them all I the ETH transaction fee, it is unreasonable, since it is newer than BTC the blockchain should have factored transaction fee in their plans, i use think ETH as a better substitute for BTC or even preferred alternative but that fee is very discouraging.

I hope BTC blockchain can be modernized and made to operate with lower transactions fee. Thanks Bro, Thanks @Prettybabe and @Erik4150.

 

[Ltherman]

Gas fees as i noticed is usually down in the night. I think when the network is fully upgraded finally and implemented the gas fees will be greatly reduced. Having to go on for a very early morning transfer will be good for low transactions.

 

[BrolySSJ]

To be honest the most painful of them all I the ETH transaction fee, it is unreasonable, since it is newer than BTC the blockchain should have factored transaction fee in their plans, i use think ETH as a better substitute for BTC or even preferred alternative but that fee is very discouraging.

I hope BTC blockchain can be modernized and made to operate with lower transactions fee. Thanks Bro, Thanks @Prettybabe and @Erik4150.

I think that in the future they would have to look into it because people are going to start using alternative cryptocurrencies in order to make their transactions and payments to merchants, and this could significantly decrease the number of payments that are being made on bitcoin and ethereum. I think that especially now with the value being so high on both of these coins that the network is not able to handle the large transactions or volume of transactions. However for such promising and such well-known coins it is quite disappointing that they don't have the capacity to deal with all of this.

 

[Veetos12]

The high transaction or gas fee on crytocurrencies is not showing any significant trend of reduction and i dont think it can ever come down even with the most popular cryptocurrency such as bitcoin, etherum and Tronx. But I think with policy review, there could be a change in the future.

 

[mcjerry]

Gas fees as i noticed is usually down in the night. I think when the network is fully upgraded finally and implemented the gas fees will be greatly reduced. Having to go on for a very early morning transfer will be good for low transactions.

I want to get your point very well. You are trying to say how we can use low gas fee. Are you saying by morning the gas fee would be reduced? Please help me to understand your point. I have tokens that I want to transfer but the gas fee is holding me back

 

[Ltherman]

I want to get your point very well. You are trying to say how we can use low gas fee. Are you saying by morning the gas fee would be reduced? Please help me to understand your point. I have tokens that I want to transfer but the gas fee is holding me back

High gas fees are influenced by the high traffic on the network and the higher traffic the higher the transaction fees so from my observation from a particular period i notice the gas fees were cheaper transferring from trustwallet to Binance.

 

[Ehizzy1]

It might even continue to increase as the price is increasing and more transaction takes part on the network, because for now the fee has just been on the rise and despite ethereum creating their second version of ethereum the price still keeps on surging high and increasing to a large amount

 

[idhans]

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??

Sometimes it gets so ridiculous when transaction fees are far higher than the actual transactions. I don't think transaction fees will ever come to a stable lower rate because it is what the miners are using to make money. But there are sometimes when the fees are low, and you can make your transactions during such times.

 

[Ellozyy]

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??

That's true. I wonder why the consistent increase in gas fee over these few months. It doesn't used to be this way.. This is making it so difficult for people to transact minimal amounts.
It's very terrible sometimes to discover that the gas fee is actually higher than the amount you want to send
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I believe the high gas fees for these coins will always stay the same. Being the most expensive and well known, it's expected from them.

The only way is to find a time when less transaction are going on and gas fees are lower to make your own transaction more easily.

But that's not really cool.. What if the transaction is an urgent one?

 

[Damscooguns73]

Concerning if the high transaction or high gas fee on cryptocurrencies will ever reduce. Well, I believe the price of the transaction fee varies as the cryptocurrency market also varies. I dont think there will be reduction anytime soon unless the price of the cryptocurrencies bitcoin and ethereum drops drastically