PUTTING CONCENTRATION ON YOUR GAS FEE

bitcon

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Quote from: Miaallen on December 13, 2020, 11:18:48 AM

Putting concentration on your gas fee before confirming your transaction is as required as giving concentration on the certainty of the address you're sending fund to on ethereum blockchain of nowadays.

Ethereum is said to be getting moved into Ethereum 2 and care should be taken to avoid losing one's fund to just transfer of Little sum of funds just like we had it few months ago.

Another risk is related to the actual Transition from Ethereum 1.0 to Ethereum 2.0, there is indeed a risk. After the transition is completed, users will be able to participate in ETH staking and receive rewards in the new Ethereum 2.0 network. this one-way transfer of ETH to the updated blockchain can create the risk of "stuck" assets that may fall in the price on the spot market, which will lead to unpleasant consequences.

danglongbtc

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Quote from: jossiel on December 14, 2020, 12:08:56 AM

It is simple to check the gas fee before sending an ethereum transaction or anything under ERC20 tokens. There are websites that you can check to for the recommended gas fee/average gwei for that certain time like ethgasstation[1].

[1] https://ethgasstation.info/

I always open ethgasstation while making any amount of transaction on ETH blockchain. If anyone is concerned about gas, this is the only thing you need to check.

jahepahit

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It's very important to check gas fee before confirming a transaction and now that the fee are kind of high, one needs to pay extra attention so you don't lose all or many of your funds to gas fee. Just remember that it's not reversible so take extra caution.

pedrillo0

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The gas rates went up because of the DeFi, now that they are at their peak we can see the eth network overwhelmed, which is why the gas rates went up.
And as you mentioned, the gas rate is as important as the address where you are going to send.

Fivestar4everMVP

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Quote from: Miaallen on December 13, 2020, 11:18:48 AM

Putting concentration on your gas fee before confirming your transaction is as required as giving concentration on the certainty of the address you're sending fund to on ethereum blockchain of nowadays.

Ethereum is said to be getting moved into Ethereum 2 and care should be taken to avoid losing one's fund to just transfer of Little sum of funds just like we had it few months ago.

Yeah, this is definitely a good advice, for me, the two most important thing I make sure of when sending or making a transaction is :
1: The address am sending to, it is very very important to always make sure you are sending to the right address, if not, you will just end up giving your crypto to someone else with out even getting a "thank you" in return
2. Gas fee, just like the op have said it, I always pay attention to this to make sure am not spending more than required to send that particular transaction, if the price am to pay for gas is too high, I either try to adjust it or cancel the transaction and do it later.
I think this things are things every one in crypto should always be conscious of.

TofuDefi

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Trade and stake Ethereum assets on TRON

Quote from: Miaallen on December 13, 2020, 11:18:48 AM

Putting concentration on your gas fee before confirming your transaction is as required as giving concentration on the certainty of the address you're sending fund to on ethereum blockchain of nowadays.

Ethereum is said to be getting moved into Ethereum 2 and care should be taken to avoid losing one's fund to just transfer of Little sum of funds just like we had it few months ago.

Use TRON and forget about high gas fees! Our project aims to move a lot of ETH and ERC20 tokens to TRON.

bittick

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Quote from: Jawhead999 on December 14, 2020, 03:33:51 AM

Quote from: WalkerIVIV on December 14, 2020, 12:45:53 AM

I think that if you are using the wallet that was calculated the fees automatically and you didn't need to calculate it manually dude. i have been using mycrypto and this wallet is always getting updated with the latest gas fees from the ethgasstation and you can do a transaction without feeling worried if you are putting too much fees for your transaction or doing human error.
It's better to use this kind of wallet.

It's wrong, I have check it myself mycrypto charge higher fee than ethgasstation recommended. mycrypto determine 45 Gwei as standard fee, while ethgasstation determine 38 as standard fee in the same time. It mean mycrypto aren't getting updated latest fee, better to use a non-custodial wallet than can manually to adjust the fee.

happened to me for many times as well. Even BTC wallet usually have their fee which supposedly set automatically like any other modern crypto wrong aswell. It's always a good practice to recheck the required fee just in case rather than dealing with all the problems later.
Though, as I have seen wallet provided by centralized exchange usually already take care of the fee by setting the same amount of coin required for fee.

Jawhead999

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Quote from: WalkerIVIV on December 14, 2020, 12:45:53 AM

I think that if you are using the wallet that was calculated the fees automatically and you didn't need to calculate it manually dude. i have been using mycrypto and this wallet is always getting updated with the latest gas fees from the ethgasstation and you can do a transaction without feeling worried if you are putting too much fees for your transaction or doing human error.
It's better to use this kind of wallet.

It's wrong, I have check it myself mycrypto charge higher fee than ethgasstation recommended. mycrypto determine 45 Gwei as standard fee, while ethgasstation determine 38 as standard fee in the same time. It mean mycrypto aren't getting updated latest fee, better to use a non-custodial wallet than can manually to adjust the fee.

WalkerIVIV

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Quote from: Miaallen on December 13, 2020, 11:18:48 AM

Putting concentration on your gas fee before confirming your transaction is as required as giving concentration on the certainty of the address you're sending fund to on ethereum blockchain of nowadays.

Ethereum is said to be getting moved into Ethereum 2 and care should be taken to avoid losing one's fund to just transfer of Little sum of funds just like we had it few months ago.

I think that if you are using the wallet that was calculated the fees automatically and you didn't need to calculate it manually dude. i have been using mycrypto and this wallet is always getting updated with the latest gas fees from the ethgasstation and you can do a transaction without feeling worried if you are putting too much fees for your transaction or doing human error.
It's better to use this kind of wallet.

yazher

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Quote from: Miaallen on December 13, 2020, 11:18:48 AM

Putting concentration on your gas fee before confirming your transaction is as required as giving concentration on the certainty of the address you're sending fund to on ethereum blockchain of nowadays.

Ethereum is said to be getting moved into Ethereum 2 and care should be taken to avoid losing one's fund to just transfer of Little sum of funds just like we had it few months ago.

Yeah, the price is quite high and I'm still annoyed with the unstable transaction fees. If they just knew how many times I used the dex exchanges for trading with P2P, they know how much money did I waste for so many transactions. I'm just afraid to put my ETH address here but if you can see my past transactions, you gonna scratch your head when you see those gas fees I waste just to get the fastest transactions possible.

cryptoaddictchie

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Aside from what jossiel said. Make sure also that when you use customize gas limit and gwei, you are using the recommended or adjust it on the gas limit you need in order to execute a high order transaction. But always check it cause adding one zero or two could messed up your eth in your wallet literally.

It did happened in the past that user were able to spend a lot of usd just for a lower value eth. Why? Probably careless or didn't check it.

jossiel

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It is simple to check the gas fee before sending an ethereum transaction or anything under ERC20 tokens. There are websites that you can check to for the recommended gas fee/average gwei for that certain time like ethgasstation[1].

[1] https://ethgasstation.info/

Miaallen

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Putting concentration on your gas fee before confirming your transaction is as required as giving concentration on the certainty of the address you're sending fund to on ethereum blockchain of nowadays.

Ethereum is said to be getting moved into Ethereum 2 and care should be taken to avoid losing one's fund to just transfer of Little sum of funds just like we had it few months ago.

Topic: PUTTING CONCENTRATION ON YOUR GAS FEE (Read 148 times)