Transaction fees in crypto are weird

in crypto •  10 months ago 

Transaction fees are weird
If you want to withdraw 50$, you might end up paying 30 dollars for the gas fees which is very stupid. This gives a feeling that small investors, traders, or transaction people cannot build anything popular on Ethereum and try to onboard the new crowd. The most difficult part here is that if you try to onboard people from Hive inside Ethereum, people will not be convinced to use the blockchain. The reason is that they care about paying 35 dollars as gas fees for sending some money to someone. This is not the case on Hive and this is one of the biggest advantages we have on Hive where we don't have to pay any transaction fees.

That's why people from Hive find it hard to get used to the concept of transaction fees on any other blockchain. But sometimes other blockchains where this fee is very small are acceptable to some extent. For example, I pay some of my bills using BCH because it is one of the blockchains where the transaction fees are very small. At least acceptable compared to ETH. The weird thing is that people are still using ETH and would like to start their projects on ETH by paying huge fees.

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  ·  10 months ago  ·  

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