Why Crypto Network Fees Are THIS HIGH (Explained)

[@morganacin]

The technical analysis you provided was very easy to follow.

[@cherriepie]

Gas fees are usually higher than the amount I'm sending! That was especially the case with Coinbase wallet and trust wallet. I've never had a problem with bitcoin, only these eth-based altcoins, completely impractical

[@with_palo]

I learnt this the very hard way. Put money in a bad currency/network on OKX. When I tried to withdraw, they said the network is not supported and the amount was added to my "Untradeable Assets". They couldn't help anymore as I spoke to support for 3 weeks straight. Fast forward, I took the funds to Coinbase via ERC20 and the funds were 1/3 the value and started to drop until it was less than a tenth of the amount I initially put in. Now as I'm giving up and want to take whatever that's left, but the ETH funds I'm supposed to have in my wallet, is the same amount as what I want to withdraw, so all I can do is watch that currency drop until it hits zero 💔

[@jovanmcclay3297]

Swapping in the wallet is so expensive.

[@exodus]

HI Jovan, I hear you. Fee and minimums can be prohibitive. We'll continue to work with our API providers to optimize this process and I'll let the team know of this feedback. We've integrated FTX exchange in response to this type of feedback, and I'm sure you'll find the fees and minimums there cheaper. Check it out here if you can: fal.cn/3mTAM. We're pumped you're with us in the Exodus movement! 🚀 - SL

[@SamwelTripx]

That was pretty helpful. Thanks

[@exodus]

No problem, Samwel 😎🤝 -BT

[@efraimsnow1629]

HOW DO I GET THE NETWORK FEE FROM MY ACCOUNT TO PAY FOR MY TRANSACTIONS

[@cooper1507]

This video was terrific.

[@exodus]

We appreciate you for watching, Cooper 😄 and thanks for the compliment. We've got plenty more coming your way! -BT

[@jonathanshiff562]

Eth gas fees are broken. The miners monitor the transaction types and charge more or less depending on the address. For example an OpenSea transaction is $6 while a Compound transaction is $105, they're basically just taxing people they assume can afford it. Thats like charging different prices for a can of Coke depending on who is buying it. You can play around with these numbers a bit but even rich people have their limits. A billionaire is unlikely to buy a coke for $100 even though he can afford it. People do not like being taken advantage of.

[@hayransalik24]

If I withdraw 212 how much gas it will e to pay

[@livedelsolar5264]

did you watch the video? if so, and you still don´t know either watch it again or simply the crypto world is not for you..

[@musliminstitute8246]

I'm so sad because my money is stucked in exudas but I have no more money to pay please help me

[@thisoldminer]

What exchange do you use?

[@exodus]

Hey there Bearatthenorthpole 👋 Exodus has integrated with FTX exchange. Here's some more info if you're interested: fal.cn/3n0bM. Thanks for reaching out! 🙌 -VF

[@thisoldminer]

@@exodus Thx :)

[@zephirenodasilva6696]

I got scammed by miner first 750 then 1550 and now 1200 askin for COT codes to finalize transaction

[@rossmiddleton5961]

@@zephirenodasilva6696 please elaborate on how you were scammed and how you might avoid it. Ideas to stop it from happening. As long as there has been banks there have been robbers.

[@ReyesPR]

If I send to another wallet outside of exodus 10 eth how much is the gas fee approximately?

[@exodus]

Hey there Eliut 👋 For some assets, such as Ethereum, it is not technically possible to calculate the exact amount of the transaction fee, which will be used in the transaction. For this reason, in order to be on the safe side, the maximum fee that a transaction might cost is shown instead. In most cases, the actual network fee that you pay will be less than the amount you see in the Max Network Fee field. I'll drop more info here; fal.cn/3oR60. Hope that helps. 💪 - VF

[@RukkyCrypto]

First here 👍

[@exodus]

Woohoo! Here's your trophy, Oscar! 🏆 Thanks a million for being a part of the Exodus family. 💯 - CC

[@nemohalperin]

Exodus are holding up their hands saying, not our fault. But they provide no facility within the application to choose if you want a slower transaction and therefore lower fees. You try finding the settings that enable this! This is nothing less than absolutely outrageous. 2-4% on small sums is acceptable. But where is the scaling on fees? The higher the value being processed the greater there is a requirement for a fee ceiling. Suppose you wanted to convert $200k of ETH to a Stablecoin, and you end up paying a 2-4% fee or $4,000-$8,000 for that exchange? How on earth is that acceptable to anyone? If crypto wants to move into or replace traditional financial services on any level and at any scale - this, is not the model. Exodus just create very bad feeling with their customers by not trying harder to protect their customers capital. They deserve to be overtaken by more efficient operating models.

[@exodus]

I completely understand your concerns, and you're courageous for voicing them, captaincomps. We're working in conjunction with our third-party exchange API providers to reduce fees. I've logged your feedback with the team, so we can continue to elevate the Exodus experience for everyone 📩 As a quick note, exchange fees vary based on liquidity, exchange rate, network traffic, spread, etc. These are market conditions that aren't in our direct control! We wish this weren't the case. I recommend using the FTX Exchange integration to save on fees 🎉fal.cn/3q3QH If you have any additional questions, we're happy to chat further at support[@]exodus.com. We'll always respond asap 🙏 -BT

[@hectordelgadillo9952]

Are network fees and transaction fees the same as what is known as gas fees?

[@exodus]

Hey there Hector 👋 Yes, gas is the name given to ETH network fee you must pay. Here's a helpful article that goes into further depth: fal.cn/3n29c. I hope that helps. 💪 -VF

[@jonathanshiff562]

Gas fees are broken.