Description of the issue:
I can’t get swap in Brave Wallet to work. I installed Brave Wallet several weeks ago but have never used. I transferred 50 BAT into the wallet today with no issues. I went to swap 1 BAT for 1 USDC to test for upcoming Swap-stakes. I get a greyed out insufficient funds for gas notice and cannot proceed. It doesn’t matter if I try to swap 1 or all 50, I still get an insufficient funds for gas notice.
Other:
“Quote includes a 0.875% Brave fee.” I assumed it was 0.875% of what you were swapping from and it would be paid in that currency. That doesn’t appear to be the case. So, fee is 0.875% of what? Please explain or provide a link where I can read all about it. I couldn’t find this information.
Why in my image below, does it show 1 BAT/2.491234 USDC (estimate)? That calculation, even for an estimate, seems way off.
Fees in other crypto wallets I have used are based on the currency you are swapping (or sending.) In some, ERC-20 to ERC-20 swaps are free. That does not appear to be the case with Brave Wallet. What are fees based on?
Is Brave Wallet free? Are there transaction gas fees?
Yes, Brave Wallet is completely free to use. However, transactions (like sends or swaps) will require gas fees, and swaps may also include an additional transaction fee. These fees will be similar to—or the same as—other crypto wallets.
I spent over $5 (paid with BAT, approx. 9ish) to transfer the BAT into Brave Wallet. I was going to buy through Wyre, but the fees were outrageous (somewhere between $14 - $16, which is ridiculous). A $5ish cost for sweepstakes entry didn’t seem that bad for 1 entry/day for 7 days. If only I had known… could have saved my $5. You guys plan on having an “earn” or “interest” option I can join to recoup? lol
Plus side, the transfer was really easy and it appeared in my Brave Wallet in less than a minute. Nice.
I have no ETH in my Brave Wallet and I’m not going to buy any especially through Wyre! Also, I’m not going to spend even more money to transfer some into Brave Wallet. Not to just enter a sweepstakes. I am generally an unlucky person anyway. I never win anything, just thought it would be a fun thing to do!
Even if it is ETH, which is not cool and not like other crypto wallets (at least in my experience) as stated in the FAQ, what is it using for the base for the 0.875% fee? As asked, 0.875% of what? How do I even determine how much ETH is needed?
Anyway, I wanted to transfer some BAT into Brave Wallet one day. Guess today was that day.
i was also planning to try the wallet for the swapstakes thing. sent some bat and eth in from uphold. haven’t tried swapping yet, going to wait until tomorrow.
will post here with any info i gain about the gas and brave fees
Ugh. OK, going to have to think about that. May decide to transfer some ETH too. So, total cost per entry will be around what is costs to buy a lottery ticket where I live. lol Just have to think if I really want to participate, knowing that I’m not gonna win anything anyway.
did some digging, the $2 fee was just for approval since i hadn’t used swap before. had to do another tx to actually swap total fee was $11 in eth. I can dm you the etherscan link if you want.
omg, that is too funny. Just outrageous. I haven’t transferred any ETH yet, whew.
I guess the Swap-stake is only for the “rich and famous” and not for “plebs” like me.
Although the Terms and Conditions do say you can participate by mailing in an entry. Ugh, not going to do that either.
just a poor guy myself. all the crypto I have was gotten free from brave rewards or blockreward.app (another uphold partner) and some tips over the years.
I thought they said that Brave Wallet was going to be a bit simpler on figuring fees. But if it’s still as you’re showing, it seems that perhaps it’s not. But yes, ETH is needed for gas fees. Overall, things like BAT is on ERC 20. A good article to read is https://hackernoon.com/ethereum-gas-fees-for-dummies-oj8135nn
short version is anything on ERC-20 which is what BAT and all runs on, needs 21,000 units. Then you have to check places like https://etherscan.io/gastracker to see the current GWEI.
At the time of me writing this, current GWEI for transfer is 41.
So then math:
21,000 * 41 = 861,000 GWEI
GWEI is 0.000000001 ETH
861,000 * 0.000000001 = 0.000861 ETH for the transaction, for gas fees. That’s not counting any other network fees and all. That would be around $2.211
That’s all the steps a person has to check. But the GWEI value is always changing, sometimes getting incredibly expensive.
Thanks for the information Saoiray. Lowner must have hit at a really bad time then if he paid $11 total. Yikes!
@lowner for future reference, did it give you a chance to cancel the transaction after the $2 swap fee charge? I’m asking about the additional $9, could you cancel at that point? I might reconsider if I can get a $2 charge vs a $9 charge. lol
So, $5 BAT transfer in fee + $5 (hopefully) ETH transfer in fee + $2 first time swap fee + $2 ETH fee per swap x7 days of sweepstakes = uhm, $26? lol So rounding up to dollar amounts around $4 per entry. More than a lottery ticket for sure.
Of course that is if they don’t set a minimum swap amount… can I swap 1 BAT for 1 of something?
the $2 charge tx was to approve the bat token contract, i’m guessing that’s a one time wallet specific thing. the second $11 tx was a swap from bat to eth. I’m assuming only the second counted.
i saw the charge before I confirmed, yes. that’s how i made sure to swap enough bat to cover the eth i had to pay for gas and still get something out of it.
Well, appears there is a problem with the USDC selection. Still getting the same greyed out “insufficient funds for gas fees”. I think it is because the calculation of Bat to USDC is way off. Probably need to notify someone to look into so here goes…
@brian please check BAT to USDC calculation. It appears off and will not let me swap. See image below.
@lowner Well, keep posting in a solved topic, ugh. I am going to try and “unsolve” this topic until this is settled. Sorry. Will redo once this is settled.
Returns to permissions (see #2 above). Click Confirm.
Returned to original screen (see #1) with Activate BAT button and could not proceed.
So, kept trying to Activate BAT using defaults and changing allowance amount and it kept returning to the original swap entries with the Activate Bat button with no options to proceed to a next step.
Note: At first, each time I did this it was saving a counter for each time I didn’t reject or claim. I didn’t notice this until many attempts later. Rejected them all except one and still nothing. Hit the refresh button several times too. So… I may have reached some sort of limit for attempts, who knows. I was just clicking away trying to figure out why it wouldn’t save my entries. So the sequence of events and number of attempts is fuzzy but it was a lot!
The last few times I attempted, it returned the following after hitting claim button instead of returning to the swap with the entries I changed as it had been previously.
Kept changing entries back to original and attempting. After last attempt, I now get the greyed out “Insuffient funds for gas”. Activate BAT button is gone.
I’ll try in a test profile and see if anything has changed.
Edit: Doesn’t work in test profile. Nothing has changed. Getting “Insufficient funds…” on other entries too and the calculations seem off on those too: USDC, wBTC, RNDR (see images below). Of the four, appears only GUSD was calculating correctly and now that one’s a goner too (because of inability to confirm permissions, calculation still correct).
I am generally an unlucky person anyway. I never win anything, just thought it would be a fun thing to do!
