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

[Eodine]

You are welcome. This journey with crypto opens our eyes to new things almost all the time. That method just helps reduce the possible loss high gas fees can cause on one's investments.

True, we learn everyday. Did you also know that there is something called instant buy now, I noticed this on my crypto wallet too that I can buy crypto by dialing a code in my phone.

 

[Senator]

The high transaction fees or gas fees for some of them are getting crazier each passing day. Ethereum is the worst oa all the pack with it's crazy fees on gas

 

[Justin]

I don't think the transaction fees for crypto currency will ever reduce, I believe it will continue to increase. The transaction fee is actually a minor fees and mining uses electricity and internet, wich cost money

 

[btaliat]

I don't see any reduction in these fees. This is because these platforms also depend on these fees in maintaining their sites and carrying out other functions on their sites. You only need to go for trading wallet that charge lesser.

 

[Kinglegend01]

Yeah I think the issue of high charges on cryptocurrency transactions is something that has to be fixed or looked into. The fact that it is very unstable and volatile is another reason why the price is also not fixed.

 

[tyrim88]

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.

I had an an experience where i had to use a wallet to get my cryptocurrency.I had to use the sell option,and it was not going through because of the ban on crypto in my clime and i have to buy it back,and later on transfer to someones else wallet,the fees was just too much as little was left of the value that i sold.

 

[eLdavis]

Well its quit possible but am not so sure about that. That is why many are now looking for ways to about it. You can exchange your crypto for other coins with low gas fee and make your transaction with it

 

[Chibson]

Yes, it will reduce. It's just a matter of time and that will happen. I was disappointed the very first day I wanted to send out cryptocurrency and find out the high gas fee.

 

[Mostee501]

The high transactions on gas fees can be considered if they cryptocurrency controllers look into the matter but for they main time,i think it will still remain.

 

[Josemendez]

High transaction fee occurs as a result of congestion in the particular network , it can only reduce when there is an application that can foster faster transaction

 

[Niftyyem]

I had an an experience where i had to use a wallet to get my cryptocurrency.I had to use the sell option,and it was not going through because of the ban on crypto in my clime and i have to buy it back,and later on transfer to someones else wallet,the fees was just too much as little was left of the value that i sold.

If the origin wallet you are referring to is Luno and you got way less than what Luno was displaying, then, it is normal. I don't know how Luno's coin prices always seem on the high side and by the time you receive it, you get just a little over half of it.

 

[akinlolu99]

It's anything but new any longer that exchange or gas expenses are charged at whatever point cryptographic money exchanges are to be finished.

Deserving of note in any case, is that exchange or gas charges for the two premier Crypto Currencies - BTC and ETH and high and most occasions considered preposterous for individuals going through with negligible exchanges.

In the event that you can identify with this, will it at any point diminish? What's more, when do you think the blockchains will impact this decrease??

 

[Richard92]

It's anything but new any longer that exchange or gas expenses are charged at whatever point cryptographic money exchanges are to be finished.

Deserving of note in any case, is that exchange or gas charges for the two premier Crypto Currencies - BTC and ETH and high and most occasions considered preposterous for individuals going through with negligible exchanges.

In the event that you can identify with this, will it at any point diminish? What's more, when do you think the blockchains will impact this decrease??

I'm sure with time it will reduce or permanently now, high transaction and gas charges will not reduce except the originators make amendments.

 

[tyrim88]

If the origin wallet you are referring to is Luno and you got way less than what Luno was displaying, then, it is normal. I don't know how Luno's coin prices always seem on the high side and by the time you receive it, you get just a little over half of it.

That is it,it is definitly luno,I don't know how they do it.A friend i meet said for over a year they have not updated their site,that is why you still see the old prices on their platform.Am thinking of moving to another platform.

 

[ahmedo24]

That is it,it is definitly luno,I don't know how they do it.A friend i meet said for over a year they have not updated their site,that is why you still see the old prices on their platform.Am thinking of moving to another platform.

Probably because the Nigerla government stopped cryptocurrencies to fiat transactions has made luno Nigerla in active since then and they are not in to p2p

 

[Jlife]

I don't think it will ever reduce because as cryptocurrency goes up every day so as a transaction fee, I've observed that whenever a particular cryptocurrency is reducing in value the transaction fee also reduce and the other way around.

 

[Trexxxy]

Well, will the transaction fees of some of the crypto reduce? Hard to tell but I do think they won't reduce anytime soon but over the years they should reduce

 

[Justin]

If the mining starts using renewal energy such as hydro electricity, solar energy, wind power instead of coal or other fossil fuel, I think think gas fees will reduce.

 

[ahmedo24]

If the mining starts using renewal energy such as hydro electricity, solar energy, wind power instead of coal or other fossil fuel, I think think gas fees will reduce.

You may be right though I guess these sources of energy are more expensive than hydro or Fossil fuel but my opinion could be wrong.

 

[Justin]

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.