TRX Surges 14% - Transaction Fees Unchanged Unlike ETH

By Sapphire | Sapphire Crypto | 1 Sep 2020


Gas Fees Will Increase While TRC20 & BEP2 Transaction Fees Remain Stable

Each time ETH surges 5% to 8% gas fees go through the roof and this is unlikely to change prior to the launch of ETH 2.0! ETH is currently looking at heading towards $500 and it is pretty likely that it will reach this target sooner than later. Folks that are hoping for gas fees to decrease need to realize that as ETH breaks resistance it is most likely going to surge very strongly, as will the standard gas fee.

People often dismissed BTC in the past, saying that it was expensive but performing a transaction on Uniswap at the moment will cost you an arm and a leg.

This is why I recently published "Skip High ETH & BTC Fees By Using This Technique", which details how using Binance BEP2 tokens can save you tons in fees. A BEP2 transaction currently costs around 4 cents, which is nothing. This is another reason why I also advocate building passive income on the TRX ecosystem. Your profits will be eaten by gas fees if you are utilizing ETH or ERC20 tokens.

In March the Ethereum network became so congested that I waited up to 24 hours for certain transactions to confirm. As a trader, this is unacceptable and not viable at all. Such delays can result in loss, if a trader needs to fund a margin call and is unable to transfer funds in an acceptable timeframe.

I do hold ETH and believe that it will be a stellar performer in this market cycle but prior to ETH2.0, I am not interested in using it to transfer value unless I really have to. I have chosen to focus on coins and tokens that have very little to no fees to utilize for wealth creation. I view current gas fees as severely overpriced, especially as ETH is not even that scalable, or superior in any way. BEP2's and TRC20's confirm in seconds and cost little to nothing.

What Is The Alternative? 

Apart from Tron and Binance chain there are a lot of other top quality chains that cost very little to send value transfers. Another recent post is "Top Coins To Trade & Hodl With Extremely Low Transaction Fees", where I look at a number of viable alternatives.

I think that for the time being, people need to consider alternatives, as fees are more likely to increase as apposed to decrease. There may be periods where gas fees drop but I believe that it will be brief periods, at least until we see ETH2.0.

How do you rate this article?


13

0

Sapphire
Sapphire

Interesting views, news, opinions and all things Crypto. Independent and honest assessments of Crypto projects and earning opportunities within the space. Opinions are my own and not financial advice. Sapphirecrypto.org


Sapphire Crypto
Sapphire Crypto

Interesting views, news, opinions and all things Crypto. Independent and honest assessments of Crypto projects and earning opportunities within the space. Opinions are my own and not financial advice.

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.