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The Ethereum network requires gas to execute transactions. When you send tokens, interact with a contract, send ETH, or do anything else on the blockchain, you must pay for that computation. That payment is calculated in gas, and gas is always paid in ETH. (Other networks that use gas, or have a similar model, usually pay gas in their native token: e.g. BNB, POL (previously MATIC), etc.)
Okay, yes, I get that, but why are they so high?
The price of gas is dynamic and is essentially a product of demand: the more people that are trying to get their transactions processed by the network, the higher it will be. Each additional person can—if they have the means—increase their priority fee to raise the chances that their transaction will get processed sooner.
In addition to being under the sway of demand, one of the reasons Ethereum can be costly to transact on is because of its security. In a way, security is the feature for which you're paying a premium. Ethereum's high level of security is a product of its age (it has weathered a lot more challenges and attacks than most blockchains) and its distributed, decentralized nature. Ethereum is, as a rule, far more decentralized than many other blockchains, and although many alternatives have much cheaper transactions, they are likely to have compromised on the'security' element of the blockchain trilemma (although many claim to have solved this challenge).
Some other contributors to the price of Ethereum's gas fees include:
- The popularity of NFTs on Ethereum. Many spikes in gas prices can be attributed to highly anticipated NFT drops.
- Ethereum is the home of DeFi (decentralized finance). Many of the largest, most established dapps were built on Ethereum, and continue to be the biggest players in DeFi. This DeFiLlama chart, comparing TVL (total value locked) in DeFi across major networks, shows Ethereum comprises ~58% of the DeFi market at the time of writing. All the transactions that accompany this popularity naturally raise computational demands on the network.
Is there anything I can do about it?
You are paying for the computation of your transaction, regardless of whether it succeeds or fails. Even if it fails, the validators must confirm and execute your transaction, which takes computational power. You must pay for that computation, just like you would pay for a successful transaction. This means there's no way around paying gas fees if you want to use a network.
However, if you have a bit of time and flexibility, you may be able to reduce costs:
- You can try to lower gas fees in your transaction settings. Please keep in mind that overriding MetaMask's suggested gas settings with a much lower total will result in your transaction being processed very slowly, and could even result in you wasting your money if it becomes'stale' and isn't picked up at all.
- Develop an understanding of peak times. Although crypto is global, peaks will typically be during the waking hours of the North American continent (between UTC-5 and UTC-8), which you could plan to avoid.
- Investigate alternative networks. You can use MetaMask to take advantage of the multi-chain web3 that is emerging. Whether you stay directly within Ethereum's orbit on layer 2s, or emigrate to one of many EVM-compatible chains, there are cheaper alternatives (though you will have to bridge tokens to them first).
For current network gas conditions, see https://etherscan.io/gastracker.
info
Gas on networks other than Ethereum mainnet
Most EVM-compatible networks—those that you can use with MetaMask—have similar gas mechanisms to Ethereum, so the principles on this page apply more broadly. However, since other chains do not necessarily have ETH as their native token, you need to pay for gas in different ways. Gas on Polygon, for example, is paid in POL, the network's native token, and BNB Chain fees are paid in BNB.
FAQs
Okay, yes, I get that, but why are they so high? The price of gas is dynamic and is essentially a product of demand: the more people that are trying to get their transactions processed by the network, the higher it will be.
Why is my gas fee so high? ›
When the network is busy, such as during peak usage times, gas fees can increase due to heightened competition for block space. Transactions involving complex smart contracts typically incur higher fees because they require more computational resources to execute.
How to minimize gas fees on MetaMask? ›
Click on the fee, and a menu will appear with a slider, and another option to click on 'Advanced Options'. The slider lets you pick between three options that describe how much gas you want to pay: 'Low' involves paying less for gas, and most likely waiting longer for your transaction to complete.
Why are gas fees so high in RN? ›
Gas fees rise and fall with supply and demand for transactions—if the network is congested, gas prices might be high. On the other hand, they could be low if there is not much traffic.
How do you optimize gas fees? ›
- Optimize the transaction timing.
- Take advantage of rebate offers.
- Choose transaction type carefully.
- Monitor network congestion to avoid delays.
- Benefit from gas tokens.
- Calculate payable gas fees beforehand.
- Switch to Ethereum 2.0.
Consistently high bills, or high bills in the summer when heating costs drop for most households, can often be attributed to high gas supply rates, older, inefficient appliances, a need to better maintain or service your gas appliances, window and door drafts, heat loss through the attic or chimney, or opportunities to ...
Why are gas prices so high all of a sudden? ›
Gas prices surged in 2021 and 2022 amid economic disruptions caused by the pandemic and Russia's invasion of Ukraine — and they've never been the same. Today, gas prices are 30% higher than they were four years ago.
Why are gas fees so expensive on MetaMask? ›
The price of gas is dynamic and is essentially a product of demand: the more people that are trying to get their transactions processed by the network, the higher it will be.
How to avoid paying high gas fees? ›
Transact when network demand is low
Prices fluctuate in response to network demand, meaning you can reduce fees by transacting when network demand is low. Gas fees are generally cheaper on weekends and when most people are asleep in the United States. Conversely, they are higher during working hours and on weekdays.
What time are gas fees lowest? ›
You should keep in mind that the majority of transactions take place in the United States, Europe, and Asia. Because fewer people work on weekends, historically, gas fees are lower on Saturdays and Sundays.
Ethereum gas fees exist because operating the Ethereum network uses resources in the form of computational power. Participants in the Ethereum network can voluntarily operate the blockchain to earn gas fees, provided that they stake—that is, agree not to trade or sell—their ETH.
How to calculate gas fees? ›
The calculation of gas fees involves two key components: the gas limit and the gas price. The gas limit is the maximum amount of work a user estimates a validator will do for a particular transaction. The gas price, on the other hand, is the price per unit of work done.
How much is the gas fee in MetaMask? ›
The MetaMask transaction fee of 0.875% Gas on the destination network, which is generally covered by the bridge provider. Fees to liquidity providers and validators, who relay transactions across networks. Price impact, which relates to available liquidity and how the bridge will affect it.
Does ETH 2.0 solve gas fees? ›
Ethereum 2.0 is expected to significantly lower gas fees by increasing the network's capacity to handle transactions. The enhanced throughput and efficiency from sharding and other upgrades aim to reduce transaction fees to less than $0.001.
Have ETH gas fees gone down? ›
While the number of transactions has remained stable at just over one million per day, the amount of fees paid by end users of Ethereum has plummeted since Dencun, per Artemis. With less overall transaction fees, the amount of ETH burned has gone down as well.
What affects gas fees? ›
How are gas fees determined? The exact price of gas is influenced by supply, demand, and the network's capacity at the time of the transaction.
Why is my gas bill so high so Cal? ›
Increased use of appliances can impact your bill. For example, water heaters work longer and harder during colder weather and could increase your natural gas usage. Having guests at home, cooking more, and leaving appliances on could also impact your bill.
How can I avoid gas fees? ›
To reduce Ethereum gas fees, choose off-peak hours for transactions, batch similar transactions, use gas tokens and estimation tools, and explore Layer 2 solutions like Optimism. Whether you're an avid DeFi user, a DApp developer, or simply a casual Ethereum enthusiast, high gas fees are equally frustrating for us all.
Why do gas stations charge so much for gas? ›
High taxes on gasoline and regulatory requirements that increase the cost of producing gasoline that meets California specifications. California has a state tax of 61.2 cents per gallon on every gallon sold in California. Why is gas so expensive in California compared to other states?
