Post
Topic
Board Bitcoin Discussion
Re: How can I avoid paying these crazy transaction fees?
by
taufik123
on 08/12/2023, 23:55:51 UTC
According to etherscan, the required gas price for getting confirmation is now 45 Gwei.
As for a normal ethereum transaction 21,000 units of gas is required, the required fee is now around 0.0009 ETH which is worth around 2.2 dollars.

The required fee would be higher if you want to send tokens and note that you would have to pay much higher fees for withdrawal from exchanges.
Ethereum's gas fees are still quite high at the moment, to swap tokens on a DEX around $31 and of course still very expensive.


For Gas Fees, withdrawals of Exchanges such as Binance are charged 0.0032 ETH with a minimum withdrawal of 0.01ETH.


For Bitcoin, Gas Fee has now dropped by 105.66 sat/vB around $6.68 with a confirmation of about 20 minutes.


All those gas fees are updated as I write this comment.
Ethereum is still high but for other networks such as zksync, Optimism, BSC, Polygon, TRX is still quite cheap and the best choice besides ERC20 networks.

For Bitcoin, it is quite normal after yesterday experienced a surge in transactions and a significant increase in the price of Bitcoin so that gas fees will be more expensive.