Post
Topic
Board Altcoin Discussion
Re: High gas fee for sending token is still a problem
by
Abiky
on 21/06/2023, 10:50:34 UTC
Then we have the same problem. I also have coins that I want to take out from MEW and I cannot do it because of the expensive fees, especially in the ERC20 department. I think the lowest is $3-4 just so the transaction would go through without any issues. Because before there was an instance where I paid more just because it keeps on failing. If I remember it right, it cost me $20 in total until I realize that I must not use the lowest transaction service to push through. Now, I don't want to happen again but I lack the amount needed in my old MEW account. Sending it some will be another waste of money and it may not be worth the fees if I do it.
I have not tried the services that you mentioned yet. I may check that out and see if a solution can be done in a cheaper way.

You need to be careful not to end up paying a very low fee that will end up getting rejected by the network. I've used to paid low gas fees on smart contracts a few years ago, only to realize that my transaction got canceled. My ETH was lost because of this. If you want to avoid this, pay a decent gas fee according to network activity. Etherscan's Gas Tracker is a great tool that lets you know ETH's gas fees in real-time.

I know high gas fees are frustrating, but that's the cost you pay for decentralization. Other chains provide low fees, but they're heavily-centralized (eg: BNB and Solana). I guess you get what you pay for. Luckily, there are off-chain (L2) scaling solutions similar to BTC's Lightning Network on Ethereum. Solutions such as Optimism and Arbitrum have low fees and blazing-fast (near instant) speeds. I know on-chain fees won't stay high forever, so all hope is not lost. Just my thoughts Grin