Post
Topic
Board Altcoin Discussion
Re: I can't keep up with the High gas fees
by
FinneysTrueVision
on 23/09/2023, 04:17:34 UTC
When you mentioned "high gas fees," I assume you are referring to the altcoins network, right? In that case, I think you need to move this topic to Altcoins discussions.

Anyway, this is what I found regarding current transaction fees:



That does not seem too bad. What are the current fees for credit card transactions?

This only shows the cost for a simple transfer. When you are interacting with smart contracts the cost is significantly higher. Using an altcoin like Ethereum requires a lot of interacting with smart contracts. You don't just do one transfer and are done for a while like with Bitcoin. A typical ETH user might be trading multiple tokens across several DEXs, bridging tokens to different layers, buying NFTs and then listing them for a higher price. All of this activity consumes an enormous amount of gas.