Our ETH Gas Tracker keeps you updated with the latest ETH price and real-time gas fees. Helping you react faster and make smarter decisions when trading or sending transactions. Get real-time gas prices, to time your transactions and save money. Our Ethereum Gas Tracker is one of the best ways to track gas prices, and see how mild or intense "the gas" can get.
What is a Gas Fee?
Gas fees are small payments made by users, to carry out transactions on the Ethereum network. Since Ethereum is a decentralized system with no central authority. It relies on an internal incentive model to keep things running smoothly and prevent abuse. Gas fees help achieve this, by making users pay a cost to use the network’s computing power.
These fees are paid in ETH, the native currency of Ethereum. They are essentially used to reward validators, who process and secure transactions. Whether it’s transferring funds or running a smart contract, every action on the network consumes a certain amount of computational effort, measured in gas.
The concept is similar to fueling a vehicle; to travel a distance, you require gas. On Ethereum, to move your transaction from start to finish, you must provide enough gas. Without it, the transaction stalls and won’t be completed.
How to Provide Gas Fee for a Transaction
When sending ETH or tokens, the gas fee is automatically taken from your remaining ETH balance. Not from the amount you're sending. It all happens in one transaction, so there’s no extra step or risk of “forgetting” to pay.
For example, if you have 5 ETH and send 2 ETH to a friend with a gas fee of 0.02 ETH, the total cost is 2.02 ETH. Your friend gets 2 ETH, and your balance becomes 2.98 ETH after the transaction is confirmed.
Setting the Gas Fee
Depending on your wallet, you might be able to set the gas fee manually. Two key variables affect the fee:
- Gas Price: The cost per unit of gas, usually in GWEI (1 GWEI = 0.000000001 ETH).
- Gas Limit: The max amount of gas you're willing to use for the transaction.
Formula: Gas Fee = Gas Price × Gas Limit
Example:
Gas price = 1 GWEI
Gas limit = 21,000
Gas fee = 0.000021 ETH
Simple ETH transfers typically use 21,000 gas. Interacting with smart contracts requires more. Always set a higher gas limit when using dApps or DeFi tools to avoid failed transactions.
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