Any attempt to actually transact this crap reveals the complete weaknesses in the system! Today I’ve done my first Ether transaction and I was being charged KSh 6k to transfer 400 Bob! And this transfer took 10 minutes to get the funds from my cold storage, to an exchange, to Metamask. Ikae!
Weakness gani? Hakuna mtu amekulazimisha uweke coins zako offline. The price to pay for distrusting online wallets ama exchanges ni hizo fees. Weka coins zako binance and you can exchange them for any other coin for a fraction of the transaction amount.
Ingia BNB tokens… you have to be a dollar millionaire to afford ETH gas fees. Eth tokens may seem like they have enticing returns but if you account for gas fees unamalizwa. For example if you want to buy an ETH token na ukona 200k then ugongwe a 10k transaction fee already uko 5% down before entering the market. Ugongwe 10k ingine ya kuconvert the token back to Ethereum. Thats a 10% loss on transactions alone. You need to be 10% up just to break even. That’s a fools game.
You must be new to crypto. Much as I’m only now starting to use crypto, I have been following the space since 2013. The number of exchange hacks and rug pulls by exchange owners themselves is a legit cause for concern
All my funds are already in my Trezor. I just have to eat those fees sooner or later. Heri sasa nishikilie tu hizi funds till I meet my price target, then after that I can start playing around with the Ether
You can use wrapped versions of eth like WETH. This works on bep20 network which has very minimal fees. To convert from erc20 to bep20, transfer your ETH to Binance and withdraw to a bep20 supported wallet