Still new. Still learning. Be kind.
I finally purchase ETH on Metamask. (Took six days for the ACH to clear, BTW!) I’m excited to buy my magic beans buy the next mooning coin!
I set up a SWAP from ETH to magic bean token for a purchase. The estimated gas fees are over $100 US! (Regardless of purchase size — I’ve played around a bit.)
Why? Is it specific to this exchange (Metamask), and/or my magic bean token? Or does it fluctuate widely based on network demand (surge pricing)? Or am I just doing something dumb?
If I have to pay >$100 US to buy even one 5￠ share of this magic bean token, the break-even is ridiculous!
I’ve done ETH transfers (from other exchanges) to my hardware wallet and paid a much smaller fee <$15 US. (Note to self: transfer large amounts less frequently to minimize transfer fees. )
Edit: Thank you to those who gave me some topics and tokens to research! Thanks to those who served up some humor, too 😉 I’ll attribute my various gas and fees to “tuition” for learning about crpyto, and hope my future profits dwarf them.