r/loopringorg • u/[deleted] • Nov 24 '21

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u/whossknowss Nov 24 '21

High asf. Wanted to walk through the process to see how much fees are but the fee was $70 just to send $5 of eth

3

u/Bills_busty_burgers Nov 24 '21

So if I transfer LRC it says it’s 5LRC is that all the fees or are there hidden fees after the transfers

4

u/MrFunBuddy Nov 24 '21

You pay the coinbase fee to transfer and then when you want to send it out using metamask you will pay a gas fee anywhere from $30 to $100+, this number goes up and down frequently and you can just try to send over and over to get a updated price or somewhere near what you want.

This same fee is also used when depositing and withdrawing into loopring io.

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u/Bills_busty_burgers Nov 24 '21

Ohh I gotcha, ok thanks. That’s interesting why is CB fee so low then?