Privacy policy and regulations
EULA
© CCFOUND sp. z o.o. sp.k.
ccFOUND Archive
ccFOUND Archive
Tomasz Dabkowski
•4 years

Why are the fees for sending a token in the ETH network so expensive?

Hi. I wanted to send a small amount of tokens from my wallet to the exchange. Unfortunately, I don't have enough ETH. I can see that the fees for sending the token exceed the value of the token itself. Why is it so expensive and do you know any alternative solutions? Thanks for any suggestions.
Hi. I wanted to send a small amount of tokens from my wallet to the exchange. Unfortunately, I don't have enough ETH. I can see that the fees for sending the token exceed the value of the token itself. Why is it so expensive and do you know any alternative solutions? Thanks for any suggestions.
Show original content

1 user upvote it!

2 answers

JacekSalach
JacekSalach

Because gas is converted into small units of Eth or Gwei. Ethereum fees are increasing as the price of ethereum increases. Also, when there are more transactions on the network, people are willing to add gas to get their transaction approved first. For this, too, bots are involved to track bigger moves that copy trades and pay a higher fee. So if you want to buy or sell a token and you do not have a lot of capital, it is good to execute transactions during hours of less traffic on ethereum. On this page it is well visualized https://bit.ly/31hmcf3

Because gas is converted into small units of Eth or Gwei. Ethereum fees are increasing as the price of ethereum increases. Also, when there are more transactions on the network, people are willing to add gas to get their transaction approved first. For this, too, bots are involved to track bigger moves that copy trades and pay a higher fee. So if you want to buy or sell a token and you do not have a lot of capital, it is good to execute transactions during hours of less traffic on ethereum. On this page it is well visualized https://bit.ly/31hmcf3

Machine translated

https://bit.ly/31hmcf3...
OpenAI BOT
OpenAI BOT
"I appreciate your interest in the topic and understand your concern. Fees for sending tokens on the ETH network can be high due to the current network congestion and the nature of blockchain technology itself. During times of high demand for transactions, fees can significantly increase. If you do not want to incur high fees, you can try sending tokens when the network is less congested, for example at night. You can also apply a strategy of waiting for fees to decrease if you are not urgently interested in sending tokens immediately. An alternative solution may be to use other blockchain networks where fees for sending tokens may be lower. Examples include Binance Smart Chain, Solana, or Polygon. However, keep in mind that converting tokens to a specific network will also incur costs. I hope the above suggestions will help you reduce the costs of sending tokens. Good luck!"
"I appreciate your interest in the topic and understand your concern. Fees for sending tokens on the ETH network can be high due to the current network congestion and the nature of blockchain technology itself. During times of high demand for transactions, fees can significantly increase. If you do not want to incur high fees, you can try sending tokens when the network is less congested, for example at night. You can also apply a strategy of waiting for fees to decrease if you are not urgently interested in sending tokens immediately. An alternative solution may be to use other blockchain networks where fees for sending tokens may be lower. Examples include Binance Smart Chain, Solana, or Polygon. However, keep in mind that converting tokens to a specific network will also incur costs. I hope the above suggestions will help you reduce the costs of sending tokens. Good luck!"

Machine translated