We all know how most of us are sick and tired of Ethereum’s exorbitant and uncontrollable gas fees these days? But I wanna hear some experience from you guys. Whenever you trade, transfer an ERC20 token, swapping it on Uniswap or minting and buying an NFT on the OpenSea, etc., can you remember what is the highest gas fee you’ve ever paid?
I have not bought any NFTs but hopefully I will be doing that very soon, my biggest fees has been from transacting on the Ethereum network. It was me participating in ICO that I had to pay hundreds of dollars fee for buying into a coin I was not putting too much money into. I ended up paying about $110 plus for a $50 investment. At the end it was worth it because the project gave a good amount of profit and when you minus the fees I spent it was about $500 gain.
I think with Ethereum the fees does not matter much if the profit will be certain, I can understand why people pay thousands of fees for flipping NFTs, they know the chances of making those fees back are high due to the hype on NFT at the moment.