When the ethereum network gets congested (read: all of 2021), gas gets pricy.
So, to help you save your ETH, here are three ways you can save on gas fees (so you can ape into more NFTs)
Here we go 🧵
So, to help you save your ETH, here are three ways you can save on gas fees (so you can ape into more NFTs)
Here we go 🧵
1/ The first tip is obvious but needs to be said. The best way to save your ETH is to perform transactions when the gas fees are low.
You can see the current gas price on etherscan.com/gastracker, but it's not practical to watch the gas all day.
Instead, get set up alerts
You can see the current gas price on etherscan.com/gastracker, but it's not practical to watch the gas all day.
Instead, get set up alerts
2/ ethgas.watch is a great website, that lets you set up email alerts.
Just say enter a gas price and your email. When gas dips to your price, you'll get an email alert.
If a transaction isn't urgent, alerts like this will go a long way for saving on gas fees
Just say enter a gas price and your email. When gas dips to your price, you'll get an email alert.
If a transaction isn't urgent, alerts like this will go a long way for saving on gas fees
3/ The second tip is more tactical and situational.
It's when you have a pending transaction that you want to cancel.
Cancelling a transaction isn't gas friendly, and there's a better way to do this.
Instead of canceling the transaction on metamask... replace it
It's when you have a pending transaction that you want to cancel.
Cancelling a transaction isn't gas friendly, and there's a better way to do this.
Instead of canceling the transaction on metamask... replace it
4/ You can replace transactions on the blockchain while they are still pending
The idea here is to replace the transaction with one that uses less gas, and is therefore cheaper
The idea here is to replace the transaction with one that uses less gas, and is therefore cheaper
5/ Every transaction on the eth blockchain uses a specific amount of gas. The more complex the transaction, the more gas you use.
An ETH transfer uses way less gas than a contract interaction, like purchasing from Opensea or swapping on Uniswap.
An ETH transfer uses way less gas than a contract interaction, like purchasing from Opensea or swapping on Uniswap.
6/ To do this, you need to first enable the "custom transaction nonce" in your metamask. You can do this under advanced settings
7/ One more thing, when you have a pending transaction that you no longer need, locate it's "nonce"
You can find this on the transaction page on etherscan
You can find this on the transaction page on etherscan
8/ To replace the transaction, send yourself 0 eth on metamask.
Before you submit, enter the same nonce in the custom nonce field.
If your pending transaction wasn't submitted, it will be dropped for this cheaper transaction, saving you ETH
Before you submit, enter the same nonce in the custom nonce field.
If your pending transaction wasn't submitted, it will be dropped for this cheaper transaction, saving you ETH
9/ The last tip is my favourite.
With it, you'll never lose gas fees on reverted or dropped transactions.
Like what happens when you try to buy something on opensea and someone beats you to it, or an NFT mint with gas wars.
It's called RPC flashbots
With it, you'll never lose gas fees on reverted or dropped transactions.
Like what happens when you try to buy something on opensea and someone beats you to it, or an NFT mint with gas wars.
It's called RPC flashbots
10/ Here's a short video that explains what they are and how to set it up for your metamask
11/ If you like these tips, follow me on twitter, and subscribe to Degen University on YouTube for more content.
youtube.com/channel/UC-jfi…
youtube.com/channel/UC-jfi…
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