Gas fee on ethereum

[Daiana]

I was about to do a transaction and the gas fee was very high! Any advice on how to get the lowest gas fees? I have looked at the heatmap, and I can see that at certain times and days, it's a bit lower. Any advice for a newbie? 

Thanks!!

[Dr.Bitcoin_Strange]

I faced this issue through out last month because I had some USDT in my wallet but it was an ETH-chain USDT which requires me to have some ETH to spend as gas fee. First, I bought some Ethereum on the MEXC exchange because they had some low fee of withdrawal and a little amount as minimum withdrawal limit.

After I withdraw to my wallet, I tried to swap the USDT to ETH but I got charged $9 worth of ETH meanwhile the USDt faild to swap. After Iost $9 due to the fail swap, I was only left with $5 worth of Ethereum which was very small compare to the required gas fee to carry out the transaction.

First what I did then was to wait till early morning, once it's around 1AM-5AM gas fee usually reduces, although not all time, so you can try carrying out your withdrawal around early hours of the day.

Second suggestion is that, some wallet usually have a high transaction fee compare to other wallet, so I would suggest for you to download Metamask, import your wallet there and try using it to withdraw your coin. The wallet usually have a low fee and you can modify the fee to your choice.

It was this two method that helped me to finally move out my USDT from my wallet.

[TomPluz]

I was about to do a transaction and the gas fee was very high! Any advice on how to get the lowest gas fees? I have looked at the heatmap, and I can see that at certain times and days, it's a bit lower. Any advice for a newbie? 

According to this site, one can send ETH with just $.78 as of 4/7/24 which is kind of low compared to what I paid days ago which amounted to almost $3...quite so high in my own standard. Indeed, there are days when the gas fee can be low but there are also many days when they can be shockingly high...especially if you compared the rate if one will be using other blockchains like BNB. Now, if you compared it to BTC, I think ETH will still be a winner because as of Apr 05 2024 the average transaction fee is $4.016 and for now there is nothing we can do about it except if you are in an exchange because you can convert your ETH or BTC to other asset and send the same somewhere else and then convert again to ETH or BTC.

[Legion]

I was about to do a transaction and the gas fee was very high! Any advice on how to get the lowest gas fees? I have looked at the heatmap, and I can see that at certain times and days, it's a bit lower. Any advice for a newbie? 

Thanks!!

Yes, you are right, at certain times the gas fees for making transactions will be low when not many people are using the network you are using. However, when the network conditions are busy with transactions, it will make us think again about making transactions because usually it will charge transaction fees. which is quite expensive as you have experienced.

[bitmover]

I was about to do a transaction and the gas fee was very high! Any advice on how to get the lowest gas fees? I have looked at the heatmap, and I can see that at certain times and days, it's a bit lower. Any advice for a newbie? 

Thanks!!

Get a wallet which let's you customize fees,  such as metamask

Use gas tracker to get the lowest price per gwei
http://etherscan.io/gastracker

Use customized fee  or the lowest recommended.

You can read about ethereum fees here

https://www.altcoinstalks.com/index.php?topic=319506.0

[UNIVERSE]

I was about to do a transaction and the gas fee was very high! Any advice on how to get the lowest gas fees? I have looked at the heatmap, and I can see that at certain times and days, it's a bit lower. Any advice for a newbie? 

Thanks!!

The average gas fee for the Ethereum network this time is between 16 - 20n gwei. And this ranges between $1 to $1.5. So, actually, it is quite affordable as tu maosh is under 20gwei. Usually, sometimes up to hundreds of gwei and this happens at bearish times at that time. Whatever it is and whatever it is at that time, there really is no other choice but to transfer it. But yes, sometimes it's really stressful looking at the fees.

but now it's different. Even though the market is quite up, the Etheruem network fees are still quite affordable. What's more, it's very easy to use. It's just that nowadays there are a lot of competitors. so the Etheruem network must be able to start anticipating it.

[PX-Z]

I thought that eth solves this high fees already due to transitioning to PoS? But it looks like it doesn't help at all. Fees are still usually very high.

Anyway, you can follow what bitmover suggested above. There are many wallets that offers cuztomizable fees.

[Wiseman]

I was about to do a transaction and the gas fee was very high! Any advice on how to get the lowest gas fees? I have looked at the heatmap, and I can see that at certain times and days, it's a bit lower. Any advice for a newbie? 

Thanks!!

The high cost of a transaction in the ethereum network is the biggest pain of this blockchain, but transactions do not always cost 20-30 dollars, sometimes you can transfer ethereum tokens for 1 dollar, although this is not considered cheap, but quite normally, you can pay attention to the fact that at certain times of the day or when there are some very large purchases of the ether network, the cost rises if you urgently need to buy or sell something, you will do it anyway. And if you want to transfer ether tokens within a day or two, then go to the etherscan below, I’ll send it to you link.
https://etherscan.io/gastracker

[bitterguy28]

I thought that eth solves this high fees already due to transitioning to PoS? But it looks like it doesn't help at all. Fees are still usually very high.

Anyway, you can follow what bitmover suggested above. There are many wallets that offers cuztomizable fees.

how I wish that this already solved the problem but it doesnt , instead fees are still high in certain time like these week , because I have use Ethereum coupleof weeks ago but did not face this high fee so i think now that the network is congested same reason why the fee increased this high.

[bitmover]

I thought that eth solves this high fees already due to transitioning to PoS? But it looks like it doesn't help at all. Fees are still usually very high.

Anyway, you can follow what bitmover suggested above. There are many wallets that offers cuztomizable fees.

how I wish that this already solved the problem but it doesnt , instead fees are still high in certain time like these week , because I have use Ethereum coupleof weeks ago but did not face this high fee so i think now that the network is congested same reason why the fee increased this high.

Using a good wallet will let you pay the minimum fee possible. It won't solve ethereum network scalability problem...

You can use layer 2 for that. Optimism,  arbitrum, matic, etc..

[Aanuoluwatofunmi]

Use the electrum fee tracker as already mentioned will help including the kind of wallet you're using which may permit for making adjustment on any fee, however we must never forget that we may likely not to see the Ethereum network fee as the same as we have in other networks like bitcoin and TRON network, which also indicated that no matter how low you have it with Ethereum network, it may not be as low compared to other networks.

[Daiana]

Thanks for all of the replies! I have metamask, didn't even know that it was a good wallet for getting lower fees. Any specific settings I need to do?

[Doovla]

You don't need to change anything on your wallet, but if you use MEW and Enkrypt, there is an option to change during the transaction, 4 variants are possible, choose the one that suits you. If not, it means that you have to wait for the price of gas to decrease. You can follow it on the CoinTool website.

[Daiana]

Okay cool. I will look into that, thanks

[hugeblack]

Thanks for all of the replies! I have metamask, didn't even know that it was a good wallet for getting lower fees. Any specific settings I need to do?

The wallet does not reduce fees, but some wallets have better estimates of fees than other wallets, so if you use a wallet like this, the estimate will be better.
NEW WALLET have a better estimates than MM