WHY are ETHEREUM Fees SO HIGH? ETH GAS Explained | DeFi NOW

Ethereum gas fees have been mooning lately. In this video we cover why ETH fees are so high, how ETH fees work, and what we can do to fix them in the short to long terms.

🚀Pick up your Explorer NFT Here!🚀
------------------------------
👇 GET 50% OFF IVAN ON TECH ACADEMY
------------------------------
🔒 SECURE YOUR FUNDS WITH A LEDGER COLD WALLET
------------------------------
💎My Official Social Media💎
Twitter:

LinkedIn:
------------------------------
👍Get your FREE Blockchain Guide HERE!
------------------------------
00:00 Intro
01:32 ETH Gas and Block Size
03:57 What is Gas Limit & Gwei?
06:10 Why are Gas Fees so High?
07:25 How can we Lower Fees?
10:51 ETH 2.0 - Long-Term Solution
11:49 In the Meantime

Disclaimer: I am not your financial advisor. None of this is financial advice. Do your own research, pay attention, be a big kid and make your own decisions.

[mudslideinmypants]

I wanted to buy a few NFT’s but the gas fees cost more then the NFT’s

[eesa]

This is an excellent comprehensive coverage of the topic, Josh. You're doing a good job.

[RoxyCross]

I need a vocabulary list after this one!

[poopzassshit]

With these levels of fees. I don't understand the hype for ethereum. Can anyone explain?

[whitemonkeysband]

I moved to Tron. $0.5 dollar per transaction. Much easier to trade on and learn the ropes without getting burned.

[thosearepinklemons]

I maybe only understood about 1/10th of what you said, but was relieved in the end when you said you can avoid gas by hodling. But for real, quality comprehensive video.

[Sheiksmyd]

Coinbase wallet wants 74$ worth of BTC to transfer 37$ worth of btc wtff lol

[UpUpDnDnLtRtLtRtBAStart]

I just did a transaction that cost almost half of what I was These fees are too high to compete with cheaper instant transfer low low low fee coins/tokens

[chuish]

i'm so confused. ***MAIN QUESTION HERE: If someone starts a coin, can they take profits and sell to pay for the gas fees to keep your coin moving along? In other words lets say I set a coin to 85, 000, 000 tokens and I own 10, 000, 000 of them and I put the other 75, 000, 000 out there to sell. When I am charged ETH Fees, can I sell some of the 10 mill shares I have to cash out and pay for the gas / network fees? ***2nd QUESTION: How much do I on average do I have to pay to ETH if say someone wants to buy 500, 000 shares - I went to the website and I am seeing about $5.50 although it can fluctuate. I just want to understand this all better so I can create a coin.

[jz]

Well if we all just stopped paying fees with eth.. eth would crash hard.. they just tried telling me I had to pay 500$ in eth to stake 500$ in tusd.. robbery

[stephenupdate]

It’s 20 dollars gas fees for 17 worth of crypto 🤧welp?

[Chris_Regan]

Goodness... this popped up on my feed and my initial reaction was "YEAH lets take a look on what he's got to say about these ridiculous gas fees". And then I saw the date was September 2020. It's September 2021 as I'm writing this.... and the gas fees are worse than ever, Lets go Solana

[softknk]

Can anybody explain why the fuck we use Ethereum or anyone uses Ethereum ... I wanted to swap for 40$ ... the gas fees were about 100$ ... there are project with which the gas fees are like 1ct ... Have I missed something ... Do it get a free car with every transaction or what?

[Michael-risg]

Finally someone that makes sense! Thanks

[RoyTheth]

Yeah I'm just getting into crypto and unless the prices come down its not going to be practical. I just tried to convert 60$ worth of BAL into eth and it wanted to change me 488.00$ :-() forget that

[LeoGoGo]

Can you do a video on what it mean to have other crypto coins in the Ethereum network? I don’t understand what it means for other coins to be in the “wrapped” coin or what it means in terms of fees and network saturation.

[Lord_Assassin]

I deposited 10 usdt to metamask wallet through many steps and from 10 only 3.5usdt reached after that I want to swap it for some crypto then for 3.5 dollars it asked 100 dollars gas fees ae they

[floydmora]

Very refreshing . Great info. Thank you

[newleo]

The best thing to do is swap your eth for xrp then transfer it, once its transferred you can swap it back into eth.

[itslike]

I don't get it. Based on 65 Gwei my calculation comes up under $5 but when I use metamask or any other dexchange it goes up to 89$. What am I missing? ( I'm trying to swap some eth with different coin)