Failed transaction charged fee?

Coins and transactions ERC-20 tokens
1

HI, I tried to send my eth today to another address. The transaction failed yet I am still charged for the transaction fee. Bad enough $42 on $221 amount but not acceptable for failed transaction! Can anyone help please?

2

@JoanneMcFadyen that is how crypto works, you are paying for the computation, regardless of whether your transaction succeeds or fails. Even if it fails, the miners must validate and execute your transaction, which takes computational power.

You must pay for that computation, just like you would pay for a successful transaction. This fee is paid to miners.

3

Yeah, this sucks.
However, it could happen with any wallet.
I would suggest you use a layer 2 as the transaction fees are very low (MATIC is quite good)

4

I just tried to send some ETH from my Trezor to an exchange using Trezor Suite. It says the transaction has failed. Annoying I have paid the gas fee though. Obviously I don’t feel like just trying it again because I suppose I’ll pay gas yet again and it might fail again.

I don’t know what I have done wrong here. It is the first time sending anything out of my wallet, but I’m sure I did everything right…

I updated Suite and the firmware on my wallet shortly before this happened. Is that related?

What’s going on here?

5

Thanks for your reply but I think the OP and I both want to understand why our transactions failed. Without understanding why, we may make the same mistake again and again.

To give more info on my case, The exchange had the option of using ERC-20 or hex, I chose ERC-20, I pasted the address from the exchange to Trezor Suite. Trezor Suite said I needed to convert the address so I clicked that button. That seemed to just changed some lover case to upper case letters in the address. I used the suggested “normal” gas fee and limit in Trezor Suite. Have I done any steps wrong here?

6

most likely due to low gas fee, you can check transaction on etherscan.io and you will see the reason there.

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7

Hi, i just tried to send eth to Kraken. 3 times: failed transaction. As I read the message above it is due to low fee. If i want to set a custom fee so my transaction will succeed. What custom Gas limit and Gas price should I do. Where to find this? How can i calculate this?
Thank you, John

8

for example here: https://etherscan.io/gastracker

Currently it says for ERC20 transfer the gas limit is 65000

1 Like