Why etherum charges are so high?

[Razor1911]

Though the fees is much higher in case of bitcoin, Ethereum still has higher charges for mining if you want to confirm your trade well in time. Though it completely depends upon you, to decide how much fees to pay, but if you pay a very small amount, than your transaction will remain unconfirmed for many days.

In comparison to Etherum, other cryptos like Bitcoin cash, Litecoin etc has better fee structure. You dont have to pay in dollars in order to confirm your transaction here, only a few cents will do the work. So, why do you think Ethereum fees is so high for mining? Bitcoin though chargee even higher, but considering Bitcoin price it is somewhat reasonable. But at least Ethereum should have lesser fees.

 

[Deleted member 28127]

In Etherum transactions even if transaction is 0 $ you have to pay gaz fee witch is more excessive than even confirmation fee that's why metatask or any erc 20 compatible address fee is really high and really not interesting to process transaction with it unless you have enough earning from airdrops.

 

[Razor1911]

In Etherum transactions even if transaction is 0 $ you have to pay gaz fee witch is more excessive than even confirmation fee that's why metatask or any erc 20 compatible address fee is really high and really not interesting to process transaction with it unless you have enough earning from airdrops.

Etherum do charges very high fees. The fees, though, is not appreciated by the investors. But the miner would be very pleased with such high commisions. That may be also be a reason for the coin for gaining mementum. Otherwise with such a high fees any Etherum holder will switch to other crypto currencies.

 

[Putta Vince]

The top cryptocurrencies in the list bitcoin and Ethereum have high transaction fees because their network gets more congestion because of the demand created for these coins , millions of people move their ethereum in and out , so the fees is high.

 

[Yugocean]

Ethereum gas fees is set by Ethereum miners, they charges too much and keep it because people use ETH and they gain for transaction. However its fees is the reason why people are drifting away from it. Other cryptos also have same fees structure, miners set low fees to make it profitable and miners also get profit.

 

[Good-Guy]

The fees of Ethereum is so high because the price of Ethereum rose a lot in the past prior to the recent downfall that happened in the crypto market. I think the fees of crypto transactions do increase whenever the price of crypto surges a lot. This has also been the case with other cryptocurrencies like BTC.

 

[Sotherefore]

It was so high the past but now with the help of the smart chain network in ethereum it is easier for you to send out coin with ethereum network with a very low gas fee, I think this innovation would actually make the price of etherum to grow up to the expected amount, the high gas fee was actually the things that sluggish the movement of etherum.

 

[Josemendez]

Ethereum gas fees is set by Ethereum miners, they charges too much and keep it because people use ETH and they gain for transaction. However its fees is the reason why people are drifting away from it. Other cryptos also have same fees structure, miners set low fees to make it profitable and miners also get profit.

Ethereum gas fee is high because of the congestion observed in the ethereum network due to the Defi projects , smart contracts and other projects operating simultaneously on it . For Miners to be able to process the transaction, they need to increase the gas fee for processing the transaction , such that the transaction with more fee is processed .