Cryptocurrency Q&A
Does the ETH gas fee depend on the amount?
Does the ETH gas fee depend on the amount?
GangnamGlamourQueen
Thu Dec 26 2024
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6 answers
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I'm wondering if the ETH gas fee varies based on the transaction amount. Does a higher transaction amount result in a higher gas fee, or is it a fixed cost regardless of the amount being transferred?
6 answers
Caterina
Sat Dec 28 2024
The determination of gas fees hinges on two primary factors.
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InfinityRider
Sat Dec 28 2024
The first factor is the gas units, which serve as a metric to measure the computational effort needed for transaction execution.
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Davide
Sat Dec 28 2024
The second factor is the gas price, which represents the cost per gas unit.
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Isabella
Fri Dec 27 2024
The gas fee, consequently, results from the multiplication of these two components.
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StarlitFantasy
Fri Dec 27 2024
Specifically, a gas unit is a numerical value that varies primarily based on the number of calculations a particular transaction demands.
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