7. Transactions on a chain

The mainnet fee is a fee for each transaction we make on the mainnet. We will discuss these fees in more detail in the article below. I will also give you some tips and useful information.

If you choose to send tokens over the Ethereum blockchain, you always pay a fee to the validators as a reward for maintaining, developing and operating the mainnet. The fee is mostly paid in the native coin / token (in this case ETH).

The size of the fee varies; for example, according to traffic or the capacity of the mainnet. For example, if you use a bridge service (bridging cryptocurrency from one chain to another), then the fees are around 0.2-1.5% of the amount transferred. If you are just sending crypto from an address to another wallet address, the fees are lower. We recommend you look at the various decentralized applications (dApps) for bridging that take the smallest fee, then use one of those. A list of these bridge services can be found here. (enter hyperlink)

You can also speed up (or slow down) each transaction you perform. We can manually increase / decrease the GWEI value before confirming the transaction. Such a transaction will then be processed and ​​added more quickly / slowly to the blockchain. Faster transaction processing in the case of higher chain traffic can guarantee faster confirmation of transaction. GWEI = 0.000000001 ETH.

You can read more about GWEI here.

It's always a good idea to keep a small amount of native coins / tokens in your wallet for paying fees.

Analyst opinion

Fees are a necessity, although they are not entirely pleasant, but we have to pay them on most chains. If the fee seems high at the time, we can (unless we need it immediately) wait and try to make the transaction later, or we can try to set a lower fee in return for a slower transaction.

Ondřej Tittl

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