Why must we pay Gas fee to exchanges when depositing?

[Olamidetechie]

There's one thing in the crypto space that we're not ready to acknowledge as a big-time scam, simply because we think it's normal. I'm talking about gas fees. Everyone's familiar with them, and I remember when I used to trade on Trust Wallet. I'd try to buy meme coins just to get to PancakeSwap, but the gas fees would chase me away. I'd reduce the slippage to the lowest possible level just to make it work.

Despite all this, I still think the big exchanges can do something about gas fees. However, it seems like the problem is only getting worse. Even when depositing small airdrop projects with unknown potential, you'll often see gas fees deducted. But where is that money going?

Main reason for my ranting was because i recently received the $ROAM airdrop for doing checked-In on more than 10 certified WiFis. With my recent $ROAM airdrop, I'm having trouble finding an exchange that allows zero gas fee deposits. Since I didn't receive much from the airdrop, I don't want the exchange to take all my earnings in the form of gas fees.

[stadus]

Because its normal when you make a transaction in the blockchain. We need to pay the miners that will validate the transaction, and there's always the minimum gas fee you need to pay to proceed the transaction.

[Olamidetechie]

Because its normal when you make a transaction in the blockchain.

I understand  where u are coming from, but it is too much there are only few exchange u can see that will only allow zero gas fee. Is it with my $2 airdrop one exchange will be asking me for money

[stadus]

Because its normal when you make a transaction in the blockchain.

I understand  where u are coming from, but it is too much there are only few exchange u can see that will only allow zero gas fee. Is it with my $2 airdrop one exchange will be asking me for money

Then don’t move that $2 airdrop, it’s not worth it since you’ll just lose money on gas fees. Airdrops usually have a small value, but if you believe in the project’s potential, those tokens might be worth a lot in the future. I’d suggest just holding onto them and focusing on hunting more airdrop opportunities instead.

[Olamidetechie]

Because its normal when you make a transaction in the blockchain.

I understand  where u are coming from, but it is too much there are only few exchange u can see that will only allow zero gas fee. Is it with my $2 airdrop one exchange will be asking me for money

Then don’t move that $2 airdrop, it’s not worth it since you’ll just lose money on gas fees. Airdrops usually have a small value, but if you believe in the project’s potential, those tokens might be worth a lot in the future. I’d suggest just holding onto them and focusing on hunting more airdrop opportunities instead.

You are actually right, thanks for this advice also u have any idea of which exchange i can try for zero gas fee or they are the same for now

[Charles-Tim]

Do not confuse yourself. If you are depositing to an exchange, the exchange charge you nothing. It is the miners that you are paying the money to, not the exchange. Exchanges only charge fee during withdrawal.

[AbuBhakar]

There's one thing in the crypto space that we're not ready to acknowledge as a big-time scam, simply because we think it's normal. I'm talking about gas fees. Everyone's familiar with them, and I remember when I used to trade on Trust Wallet. I'd try to buy meme coins just to get to PancakeSwap, but the gas fees would chase me away. I'd reduce the slippage to the lowest possible level just to make it work.

I believe you are pertaining to DEX since that’s the only change that charge for gas fee.

DEX use part of the gas fee to pay for the liquidity providers that inject liquidity to their trading pool while they need to get their own profit too that’s why exchange charges expensive gas fee that is out of normal range fee to pay for liquidity providers money.

This is the price we need to pay in exchange for the decentralized feature which offer.

[Sanitough]

OP, you shouldn’t stress too much about the gas fees. Focus on growing your investment first and just keep that "$2 airdrop" in your wallet -- it might turn into something big in the future. You never know, even so-called shitcoins can pump like crazy when you least expect it.

[moneystery]

this is you who do not understand how the blockchain network works. if you do a swap on dex, then you will be charged fees that you pay to validate your transaction on the network you use. try to learn more about how fees work in the blockchain network, maybe you will find out a clearer reason why you are charged fees every time you make a transaction. so this is not a scam at all, it's just you who do not understand how fees work on the blockchain network.

[Virtualsnipe13]

There's one thing in the crypto space that we're not ready to acknowledge as a big-time scam, simply because we think it's normal. I'm talking about gas fees. Everyone's familiar with them, and I remember when I used to trade on Trust Wallet. I'd try to buy meme coins just to get to PancakeSwap, but the gas fees would chase me away. I'd reduce the slippage to the lowest possible level just to make it work.

Despite all this, I still think the big exchanges can do something about gas fees. However, it seems like the problem is only getting worse. Even when depositing small airdrop projects with unknown potential, you'll often see gas fees deducted. But where is that money going?

Main reason for my ranting was because i recently received the $ROAM airdrop for doing checked-In on more than 10 certified WiFis. With my recent $ROAM airdrop, I'm having trouble finding an exchange that allows zero gas fee deposits. Since I didn't receive much from the airdrop, I don't want the exchange to take all my earnings in the form of gas fees.

One thing we can't change is the fact that we'll always pay gas fees I can remember years back when to deposit BTC from a Bitcoin atm you'd have to pay 10% but now most machines require 20-30% which is very wrong, as for $Roam I saw a tweet that's zero deposit you can check it out. https://x.com/bitgetglobal/status/1896090918291485092

[btc_angela]

this is you who do not understand how the blockchain network works. if you do a swap on dex, then you will be charged fees that you pay to validate your transaction on the network you use. try to learn more about how fees work in the blockchain network, maybe you will find out a clearer reason why you are charged fees every time you make a transaction. so this is not a scam at all, it's just you who do not understand how fees work on the blockchain network.

It's the miners and those validators that charge that fee, and perhaps the OP was not aware of it and thought that it was the exchange.

But in any case, exchanges will have to charge a small fee when you withdraw from them as obviously, it's business and we all need to pay them as facilitator. Even in a P2P, we still have to cover some fees and pay them.

So this is just about normal and again, I will assume that the OP is not familiar with that kind of setup.

[CroverNo01]

OP should focused more on other sectors in crypto than laying complaints about gas fee charged by exchanges. The system have been designated to collect their charges from transaction made, we have the Ethereum blockchain, when you see it, ensure you run far away because the charge is usually heavy and massive at same time. This blockchain doesn't care about the transaction, either small or big, they're collecting the charge fee triggered. 

On what grounds do we trade and expect it to be free? This illustration is pinned to buying groceries from the store without the intention of expecting paying for them, how does it sounds? It's totally awkward to anyone been explained to. The system have always collected their charges and don't expect few recent complaints will make them stop, they won't rather they will try to reduce the fee costs.

[asriloni]

I think you missed something here. You missed the topology of depositing the token to the exchange.

As far as i know ROAM issued its token on SOL blockchain. Depositing token from ROAM apps/airdrop portal requires you to pay small fees(SOL) to the blockchain. It's not exchange site who received the fees from your deposit. The blockchain request fees to broadcast your transaction to the block, then it can be verified by validator, to conclude exchange site has nothing to do with your deposit.

It doesn't require a lot of money to do that. You can ask your friend to give you small amount of SOL deposit your airdrop.

[EarnOnVictor]

There's one thing in the crypto space that we're not ready to acknowledge as a big-time scam, simply because we think it's normal. I'm talking about gas fees. Everyone's familiar with them, and I remember when I used to trade on Trust Wallet. I'd try to buy meme coins just to get to PancakeSwap, but the gas fees would chase me away. I'd reduce the slippage to the lowest possible level just to make it work.

You seem to be mistaken about something, the gas fee is not your swap charges.

Let's establish the difference between the two. The gas fee is the fee you pay when you are sending your token out to an external wallet address (it can't be in your Trust Wallet account again). This is often a tiny amount that is usually lower than $0.2 with most tokens. But this is different from what you are charged when swapping your tokens inside your Trust Wallet.

Many charges are combined in swapping and it is extorting, to say the least. This is why I like to move my tokens to exchanges with a little gas fee charged, change them to the tokens of choice through the Spot market, and then send them back to anywhere I want them.

[lixer]

You seem to be mistaken about something, the gas fee is not your swap charges.

Let's establish the difference between the two. The gas fee is the fee you pay when you are sending your token out to an external wallet address (it can't be in your Trust Wallet account again). This is often a tiny amount that is usually lower than $0.2 with most tokens. But this is different from what you are charged when swapping your tokens inside your Trust Wallet.

I actually think that gas fees are higher than what you wrote there, especially on the heavy coins like BTC and ETH. We are lucky if there are fees which are lower than it.

Many charges are combined in swapping and it is extorting, to say the least.

You are still referring on the swapping feature inside a trust wallet right? That ' many charges ' are funny when we are only seeing one activity but this must be the same as hidden charges. Not only they have a high fee but their minimum for swapping is also high and then this feature is very limited to some cryptos. This is why like you, I don't deal with them but I just use the external exchanges if I want to trade a crypto. If ever they have an advantage, that is you are going to save a time from doing different movements.

[MAAManda]

Top tier CEX never takes a single cent of the value of your deposit to their platform, what you mean here is probably network costs. That's normal in the industry because validators need those transaction fees to keep their validation infrastructure running, just like miners on Bitcoin (BTC).

Besides, why would you move your $2 airdrop to CEX? Want to exchange it to FIAT? AFAIK, in some big CEX, you need a minimum transaction of $10 for a single trade. So there's no point in moving those tokens, it's better to hold them for now & hope the price of those tokens goes up in the future.

[EarnOnVictor]

You seem to be mistaken about something, the gas fee is not your swap charges.

Let's establish the difference between the two. The gas fee is the fee you pay when you are sending your token out to an external wallet address (it can't be in your Trust Wallet account again). This is often a tiny amount that is usually lower than $0.2 with most tokens. But this is different from what you are charged when swapping your tokens inside your Trust Wallet.

I actually think that gas fees are higher than what you wrote there, especially on the heavy coins like BTC and ETH. We are lucky if there are fees which are lower than it.

You are right, the gas fee on some crypto projects could be higher than I quoted, especially on the Ethereum blockchain, but note that I only considered the majority, which was why I used "often," especially since they are the common ones I used on the self-custodial wallets like Trust Wallet which the OP refers to.

But you are not right to include Bitcoin in this, Bitcoin doesn't have a gas fee but a transaction fee.

[Cryptohygenic]

Main reason for my ranting was because i recently received the $ROAM airdrop for doing checked-In on more than 10 certified WiFis. With my recent $ROAM airdrop, I'm having trouble finding an exchange that allows zero gas fee deposits. Since I didn't receive much from the airdrop, I don't want the exchange to take all my earnings in the form of gas fees.

Yes I understand that state of time when you have to make order to exchange your coin but the rate of gas fees always becomes an issue because by the end of the transaction you will be left with less values of not at all nothing will be left for your benefits.
But you must not talk out of control saying the gas fee a scam Op, you must realized the central that facilitates the procession of this crypto currency transactions are miner which they need to be compensated for their validation services on token exchanges and tradings.

[justdimin]

Top tier CEX never takes a single cent of the value of your deposit to their platform, what you mean here is probably network costs. That's normal in the industry because validators need those transaction fees to keep their validation infrastructure running, just like miners on Bitcoin (BTC).

Besides, why would you move your $2 airdrop to CEX? Want to exchange it to FIAT? AFAIK, in some big CEX, you need a minimum transaction of $10 for a single trade. So there's no point in moving those tokens, it's better to hold them for now & hope the price of those tokens goes up in the future.

The people who do not even know how this works is in crypto world, that makes me wonder what we are even doing here. I mean if you do not know that depositing means you are making a transaction and miners take your money, not the exchange, then I am not sure if you know what you are even doing.

These people are putting money in exchanges and they think that they could make money from trading as well, that's beyond crazy and I am pretty sure that we are going to end up with a much more troubled future in the end, we shouldn't do that. I can see how things could change, it is not that easy, and we could make this work, but at the end of the day it is going to be a very tough period to be in at the moment. So we should just ignore these people, and do what we know instead.

[JeffBrad12]

Main reason for my ranting was because i recently received the $ROAM airdrop for doing checked-In on more than 10 certified WiFis. With my recent $ROAM airdrop, I'm having trouble finding an exchange that allows zero gas fee deposits. Since I didn't receive much from the airdrop, I don't want the exchange to take all my earnings in the form of gas fees.

are you sure it's gas fee from exchange or fee you need to pay to validator to get your tx confirmed?
because I'm pretty sure that most of exchange doesn't charge that much fee for deposit, often time they're completely free, some might charge fee because they operate using smart contract code for individual deposits and maybe need to make up for the gas fee needed.

but in your case, I doubt you'd lose all your money just because of making deposit, maybe you're dealing with some 3rd rate exchange that's just shady.