I recently tested a usdt eth receiving transactions and sent $20 the fee was $5.8. 28% seems to be very high! How are the fees calculated? Will the % come down with larger transactions? Anyone have experience with this?
One of the strategies to avoid high fees is to convert to XMR or DAI to withdraw.
Thanks for the tip. However it was a external wallet sending into incognito.
The shielding fees are not about the amount. Smart-contract chains use smart contract for bridging. Since shielding txs are not standard transfer txs, they spend more gas which increases the shielding fee.