Failed Transaction charged $194 Gas fees

[darkcyber]

Today, I tried to purchase Shiba Inu with ETH and the transaction was showing it was processing, then after about 30 seconds it FAILED and still charged me $194.00 gas fee. Why was I charged $194 on a failed transaction? It gave this error:

! Warning! Error encountered during contract execution [Out of gas]

Value:

5 Ether ($xxxxxx) - [CANCELLED]

[darkcyber]

This was using Uniswap in the Trust Wallet app on Android. I am using version 2.11

[JennyMillan]

@darkcyber
The app does not charge a fee but there is a network fee that will be paid to the miners.

Once you try and send an amount, it automatically calculates the fees.

Learn more here:

Cryptocurrency Network Fees

This article explains what network fees are and how they work. Trust Wallet is a fully decentralized app and follows the rules of the networks it connects to. No funds are kept in the wallet and no fees are collected by the app. What are Network Fees? Every time you send any cryptocurrency, from your address to another, you incur a Network Transaction fee, also referred to as a Network fee. Making trades on exchanges also require fees for every buy or sell transaction. The actual fee you …

[darkcyber]

Thank you for the response. I understand Trust Wallet doesn’t charge any fee and it is just a wallet. But no one should be charged for a transaction that didn’t happen. That is stealing…whoever is doing it, is stealing money…period.

[JennyMillan]

@darkcyber
Please read this

What is Token Approval?

Token Approval Explained DApps (decentralized applications) like Decentralized Exchanges (DEX) use smart contracts to execute transactions on the blockchain. DEXes like Uniswap or PancakeSwap uses a smart contract which allows a user to exchange their tokens to another token. A user must first give permission for the smart contract to spend a certain amount of your token (called an allowance). This also acts as a security measure for token holders, since this will limit what the smart contrac…

[cryptiko]

yeah ETH has high gas fees right now, that’s why I use pancakeswap. used it to buy some Floki