Why are ERC20 fees so high?

You will have to pay a network fee for providing your token, which depends on how big the smart contract for your token is . The fee is currently around $400 but this changes all the time.

Average fee is 3.92633%, median is 1.40689% Min:0.7512 USD0.45599%Max:27.6466 USD17.57912%CryptoFees – cryprocurrencies fee analyzer cryptofees.net

The primary justification for high bitcoin excavator charges is organic market . The bitcoin block size is 1MB, which implies that excavators can just affirm 1MB worth of exchanges for each square (one like clockwork). So that is the reason the digger charges on ERC-20 are so high.

Arcane Research reports that Ethereum transaction fees are at a six-month low. The research shows that the average price per transaction on the Ethereum blockchain was $15 , compared to fees during peak traffic last fall as high as a few hundred dollars.