Do ETH GAS Prices Matter to you?

in HODL3 years ago

I don't know about you but for me, Ethereum gas prices has always been a huge concern whenever I chose to make any transaction on Ethereum network.

It could be because of a few reasons that applies to my individual case. Firstly, I don't have fat wallets to afford gas charges as my transaction sizes are very low. Secondly, I ain't a professional trader or a good investor to ensure that I'll make much more than what I incur as gas fee. Thirdly and most importantly, I'm very stingy & miser and won't let miners to make money out of my earnings 😜. To be honest, years of using graphene chains have spoilt me with the habit of free & quick transactions.

So Ethereum gas fee used to pinch me even when it was below $1 per transaction. But now at $100 or sometimes even more than that, it hurts me badly!

I used to spend hours monitoring gas rates, spent my time studying charts for historic gas prices to figure out when could be the best time of the day to transact on this chain. And then waited patiently for that time just to postpone my transaction for another day.

I ain't kidding. I've waited on for several days to perform my transactions and many times I did change my mind and chose not to go with my transaction anymore.

Even today, I've several coins in my wallet that can't be moved out of my wallet because I ain't willing to pay the fee. For some coins, I'm ready to wait until the chain completely moves to PoS 😊

So now you can understand, how much a headache it is for me to use Ethereum chain.

But still, such is the attraction of Ethereum's ERC-20s that I can't completely ignore to use that chain altogether.

Fortunately, about a month back, I found an amazing tool to solve my problem. Today, I'd like to share this tool with you. If you too are like me, you will also love using this tool.

image.png

It's from DeFi Saver but I like to call it life-saver 😀.
It's a small browser extension which alerts you whenever gas prices goes below your chosen level. It's also handy to see the historic gas price graph for the day, week or month.

Once installed, you just need to put your chosen Gas price for Fast transaction in the given text box. As soon as Fast gas prices drop below your marked price, it will alert you with a notification window like this:

image.png

If you would like to try this tool, here is its download link for Chrome Webstore

DeFi Saver Gas Prices Extension

  • What tool are you using for saving your gas fee?
  • Do you know of any better tool for this purpose?

P.S.:
I ain't interested in CHI tokens.

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I never did any transaction on ether chain so saved a lot of gas fee!! 😀

You're a smart Hiver! 🙂

I Am stuck in uniswap because of this high fee. It Will take a Long time before I can withdraw without loosing a lot.
So my tactic is. HODL

Welcome to the Forced HODLers' Club! 😂
Let's hope someday it will make us rich!

LOL
That was a Good name.
HODLERS FC
Eth has a Good future and has made Good this year so far.

I ain't a professional trader or a good investor to ensure that I'll make much more than what I incur as gas fee

Lol, this used to be my biggest problem with the fees. But now I just treat ETH as a stock. Through a series of calculations where I factor in gas fees in between wallet and exchange I only sell or buy when the percentage of profit is worth the hassle. Another way is to just keep smaller numbers on exchanges.

With your tool added to my arsenal, this trading game might get even more interesting. :)

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