Ethereum gas fees have become notorious for their higher than other crypto rates. These fees must be paid in order for a user to function on the Ethereum blockchain. The collected revenue from these fees is then paid to Ethereum miners as a compensation for verifying transactions. This also provides a layer of security by preventing spamming on the network. While gas fees both incentivize miners and provide a layer of security, not many users are happy with the generally high rates that one can expect with this cryptocurrency. When the network is very congested, these fees can be outrageously high.
Total Gas Fees that a user will pay are calculated off of three different aspects of the network. Gas Units, Base Fee, Tips. Tipping works as a way to get your transaction to the front of the line, thus giving yourself priority.
Overall, the higher the price of Ethereum goes, the higher gas prices will continue to be. As widespread adoption occurs, gas goes higher. The best way to reduce fees at this time, is just to watch for what time has lower prices when the network might be less congested with other traffic. You can set limits on how much you are willing to pay for gas, which just might delay your transaction time.
Links to previous relevant posts
https://peakd.com/hive-167922/@oilmagnate/kazakhstan-crypto
https://peakd.com/vyb/@oilmagnate/outside-the-us-crypto
https://peakd.com/hive-167922/@oilmagnate/us-crypto
https://peakd.com/vyb/@oilmagnate/digibyte
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