Post
Topic
Board Altcoin Discussion
Re: Is Uniswap reaping people off
by
EarnOnVictor
on 09/01/2024, 09:43:58 UTC
I have withdrawn and trade ETH from MEXC multiple times already and I am never charged more than $3 but when I swap ETH ERC 20 on Uniswap the gas fee is almost always $10 and few times over $10, why is it like this? Are DEXs suppose to be more costly normal centralized exchanges?
Even the $3 charged by the exchange is high, well, it depends on the amount we are talking about, and I expected it to be much lower with the decentralised exchange. I always tell people, that the ease, comfort and low fee benefits, and even the business around the centralised exchange can't be achieved by the decentralised exchange, but they continue to argue, a lot more should be considered (Off and On-chain transactions).

I'm glad you are another person who proves this right, it is good to have your privacy but privacy is not everything, especially if you do not have anything to hide and are transacting with a few bucks. What the centralised will do for you, the decentralised will not do for you but I read differently online even though I knew it can't be entirely so. The network charges are another thing, they must be applied to all your exchanges and the coin/token we are talking about matters so much. Exchanging Bitcoin these days will make you suffer the same fate. Perhaps this will be different with other altcoins since they could probably have a low transaction fee. In other words, the service charges of DEX are still very low but the network it must pass through could have a high fee, which is a serious issue that can spoil plans.