You can customize gas price and gas limit for your transaction (ETH or ERC-20 tokens) and you can cancel or replace your transactions too.
ETH/ERC20 - Check and select good Gas price
GAS NOW - New Price Gas Forecast Service
[GAS Price Aggregator] How to find the optimal gas price
Paying low fees in Ethereum - Gas Limit, Gas Price and Gwei
[GUIDE] How to cancel or replace an ETH transaction (Metamask, MEW, MyCrypto)
Topic: Tokens transaction fee. - page 2. (Read 337 times)
I have some basic undestanding of how ethereum works but I'm not sure about transaction fees on stablecoins like Tether and other tokens running on ethereum.
So on ethereum when your sending tether your sending tether including the ethereum gas fee.
So my question might be a bit newbish but do you need besides tether in your wallet also ether for paying gas, or in other words you need two?
Im not aware of how token representation with ether etc works, and I also don't intent to learn more about ethereum but it was an question which got my attention.
USDT is based on the ethereum blockchain, If you want to send it you must have ethereum in your wallet. ethereum is used for gas fees, to compensate for the computational energy required to process and validate transactions on the Ethereum blockchain. So on ethereum when your sending tether your sending tether including the ethereum gas fee.
So my question might be a bit newbish but do you need besides tether in your wallet also ether for paying gas, or in other words you need two?
Im not aware of how token representation with ether etc works, and I also don't intent to learn more about ethereum but it was an question which got my attention.
So my question might be a bit newbish but do you need besides tether in your wallet also ether for paying gas, or in other words you need two?
You need both coins in your wallet. tether is just ethereum asset and the ethereum network will be only accepting ethereum to paid the gas fees to send your transaction. When you are sending any ethereum asset and you will always need the gas fees dude. That's a must and you can't use ethereum network without paying fees in ethereum. that's why there must be ethereum in your walelt.
I have some basic undestanding of how ethereum works but I'm not sure about transaction fees on stablecoins like Tether and other tokens running on ethereum.
So on ethereum when your sending tether your sending tether including the ethereum gas fee.
So my question might be a bit newbish but do you need besides tether in your wallet also ether for paying gas, or in other words you need two?
Im not aware of how token representation with ether etc works, and I also don't intent to learn more about ethereum but it was an question which got my attention.
Tether available on different chains, for example if you have ethereum based USDT and wanted to make a transaction then you need to have USDT as well as ethereum because the native currency can be only used as gas fee which applies to TRON as well as BTC based USDT. So on ethereum when your sending tether your sending tether including the ethereum gas fee.
So my question might be a bit newbish but do you need besides tether in your wallet also ether for paying gas, or in other words you need two?
Im not aware of how token representation with ether etc works, and I also don't intent to learn more about ethereum but it was an question which got my attention.
Even though your tokens will reach millions of dollars in your wallet, you will need some ETH to pay for the gas or what we called transaction fees. This is how the Ethereum network works. But don't worry, you don't need the same amount of ETH to the same amount of tokens you have. You just need to pay the current gas fees which you can check here: https://ethgasstation.info/
As of now, the price to get the fastest transaction is quite high but compared to a few days ago, this one is good.
As of now, the price to get the fastest transaction is quite high but compared to a few days ago, this one is good.
Thank you all for your answers.
It answered my question and also showed my now that running stablecoins or altcoin tokens on an blockchain like ethereum is not good for an average consumer.
Having and maniging two coins for one is not very user friendly.
For people like us who do research daily in this kind of topics and are in general well aware how those things work its easy.
But not for an average consumer and with that its not ready for mass adoption. Among many other more significant reasons which are present in the whole digital currency eco system today.
Im also not surprised that basicly the whole volume and usage of Tether is for speculants and traders.
Which I'm not saying is bad but it would be nice to see it also useable for everyone.
But other and better solutions are on their way.
It answered my question and also showed my now that running stablecoins or altcoin tokens on an blockchain like ethereum is not good for an average consumer.
Having and maniging two coins for one is not very user friendly.
For people like us who do research daily in this kind of topics and are in general well aware how those things work its easy.
But not for an average consumer and with that its not ready for mass adoption. Among many other more significant reasons which are present in the whole digital currency eco system today.
Im also not surprised that basicly the whole volume and usage of Tether is for speculants and traders.
Which I'm not saying is bad but it would be nice to see it also useable for everyone.
But other and better solutions are on their way.
I have some basic undestanding of how ethereum works but I'm not sure about transaction fees on stablecoins like Tether and other tokens running on ethereum.
So on ethereum when your sending tether your sending tether including the ethereum gas fee.
So my question might be a bit newbish but do you need besides tether in your wallet also ether for paying gas, or in other words you need two?
Im not aware of how token representation with ether etc works, and I also don't intent to learn more about ethereum but it was an question which got my attention.
So on ethereum when your sending tether your sending tether including the ethereum gas fee.
So my question might be a bit newbish but do you need besides tether in your wallet also ether for paying gas, or in other words you need two?
Im not aware of how token representation with ether etc works, and I also don't intent to learn more about ethereum but it was an question which got my attention.
Ethereum is a blockchain that helps you create your own tokens but you need to pay for transaction using Ether, all theses ERC20 tokens on Ethereum you will need to pay to transact with them using Ethereum. If you want to pay with your native coin then you will need your own blockchain
I have some basic undestanding of how ethereum works but I'm not sure about transaction fees on stablecoins like Tether and other tokens running on ethereum.
So on ethereum when your sending tether your sending tether including the ethereum gas fee.
So my question might be a bit newbish but do you need besides tether in your wallet also ether for paying gas, or in other words you need two?
Im not aware of how token representation with ether etc works, and I also don't intent to learn more about ethereum but it was an question which got my attention.
So on ethereum when your sending tether your sending tether including the ethereum gas fee.
So my question might be a bit newbish but do you need besides tether in your wallet also ether for paying gas, or in other words you need two?
Im not aware of how token representation with ether etc works, and I also don't intent to learn more about ethereum but it was an question which got my attention.
Basically you are right. All erc 20 tokens are present in Ethereum and you need eth to pay as gas whenever you want to transfer erc 20 tokens between wallets.
Hint: Use Trc 20 for USDT
legendary
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Leading Crypto Sports Betting & Casino Platform
That's right, you'll always need to pay the gas fee using the ETH in your address otherwise you can't send your tokens. It's always bogging my mind as well when using smart contract crypto more specifically when trying to send some tokens since it's really inconvenient but then again if they want to make it automatically deduct equal amount of ETH from the token just for the sake of simplicity and convenience then they need to create some kind of swap platform for this.
But, FYI sending token usually requires higher eth gas fee compared to sending just ETH.
But, FYI sending token usually requires higher eth gas fee compared to sending just ETH.
legendary
Activity: 2422
Merit: 1083
Leading Crypto Sports Betting & Casino Platform
When sending tether or usdt or any other stablecoin running on the Ethereum blockchain, you need just ether to pay for fees, this is to say that the fees you pay for the transaction will only be taken from your Ethereum balance and not Ethereum and usdt together, it is like for other tokens also running on Ethereum blockchain but you must understand that the amount of fees token for different contracts varries due to code differences, some codes are written with different functions and the more the functions in a code, the more fees that contract is likely to consume.
So my question might be a bit newbish but do you need besides tether in your wallet also ether for paying gas, or in other words you need two?
Yes, you need to prepare some amount of ETH to pay the fees in your transaction. Basically it's not only applied for Tether or stablecoins but for all kind of tokens that running on ethereum blockchain, you can use ETH Gas Station to track the current gas prices on the network.
I have some basic undestanding of how ethereum works but I'm not sure about transaction fees on stablecoins like Tether and other tokens running on ethereum.
So on ethereum when your sending tether your sending tether including the ethereum gas fee.
So my question might be a bit newbish but do you need besides tether in your wallet also ether for paying gas, or in other words you need two?
Im not aware of how token representation with ether etc works, and I also don't intent to learn more about ethereum but it was an question which got my attention.
So on ethereum when your sending tether your sending tether including the ethereum gas fee.
So my question might be a bit newbish but do you need besides tether in your wallet also ether for paying gas, or in other words you need two?
Im not aware of how token representation with ether etc works, and I also don't intent to learn more about ethereum but it was an question which got my attention.
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