Users Raise Eyebrows | Ledger Live App Fees Soar to $70 on Base Network
Edited By
Omar Ahmed
A growing number of users are expressing frustration as fees for token swaps on the Ledger Live app jump unexpectedly high, reaching nearly $70 on the Base network, a platform known for low transaction costs. The community is questioning whether these fees are influenced by the Ledger app itself.
Context of Rising Fees
Recently, a user reported their shock at seeing fees rise on the Base network, traditionally a wallet-friendly space. The Ledger Nano X, which many rely on for secure transactions, appears to be contributing to this unexpected cost spike. Community discussions hint that liquidity issues and network congestion may also play a role.
Community Insights
Ledger’s Role: Some users assert that "Ledger doesn’t set the fees," emphasizing that they are not an exchange. One comment stated, "They are a secure wallet."
Market Volatility: Several comments pointed out that fees can spike during high traffic, suggesting that the "higher quotes" users see could reflect overall market conditions.
Liquidity Concerns: Confusion arose over possible misinformation regarding the fees, with users speculating if low liquidity might be causing inflated costs. As noted, "the liquidity isn’t the best, but still, it’s crazy $70 on the base network."
"Did you do the transaction? Maybe the fees are quoted wrong?" asked another concerned user, highlighting the uncertainty.
Sentiment in the Community
Overall, feedback ranges from bewilderment to outright criticism as people seek clarity amidst rising costs. Some express disbelief at the fees on what is supposed to be a low-cost network. In contrast, others emphasize safety and security in using Ledger despite the recent fee chaos.
Key Takeaways
△ High fluctuation: Fees have spiked to nearly $70, surprising many users.
▽ Network issues: Increased fees align with higher traffic times and potential liquidity problems.
※ User confidence: Despite recent experiences, many still consider Ledger a safe choice for transactions.
As the conversation unfolds, users continue to seek solutions and advice, questioning whether alternatives like MetaMask might offer a more cost-effective swapping experience amidst heightened fees.