One of the first things people ask when they start buying NFTs is how they can save money on gas fees.
Long story, short? You can’t.
The price of gas is mainly dictated by the busyness of the network, which can’t be controlled.
That being said, there are a few ways to avoid paying too much gas.
To save on gas, there are a few things you can do:
- Use a gas price calculator to estimate the gas price for your transaction and adjust it accordingly. You can find a gas price calculator by searching for “ethereum gas price calculator” on a search engine.
- Use a wallet that allows you to customize the gas price for your transactions. This will allow you to set the gas price manually, rather than relying on the default gas price set by the network.
- Use a wallet that automatically selects the optimal gas price for your transactions. Some wallets have built-in algorithms that can analyze the current state of the network and select the gas price that will ensure your transaction is processed quickly, while also being cost-effective.
- Consider using a different cryptocurrency for your transactions. If you are conducting a large number of transactions, using a different cryptocurrency that is less expensive to use on the Ethereum platform can help you save on gas costs.
- Time your purchases to avoid big mints and high volume times of the day.
Overall, the best way to save on gas is to carefully consider the gas price when conducting transactions on the Ethereum platform and to use tools and resources that can help you optimize your gas usage.