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Gas fee question

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by COINS NEWS 79 Views

Hello, today I did my first “swap” on coinbase wallet. I used Ethereum to swap for a token, was about a $200 transaction. My question is they charged me a $16 gas fee. So say hypothetically this token I bought goes upwards to the hundreds of thousands of dollars in worth, and I want to swap back so I can sell and cash out. Does this mean my gas fee to swap would be thousands of dollars? How would I afford to ever sell/swap this token if it went to the moon.

Going forward, is there any way I can get a cheaper gas fee? Please let me know if there is another token I can use to make the transaction cheaper because these fees are very high.

Thank you so much for your advice and help with this matter it is greatly appreciated.

submitted by /u/Ok-Atmosphere-6272
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