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How do I minimize gas spent on Ethereum transactions?

Written by DeFi Dad
Updated 3 months ago

There's a few basics to minimzing your gas fees on Ethereum transactions.

1. When using a Zap on Zapper, we attempt to bundle multiple transactions and save you from additional transaction costs.
2. Always check one of the Ethereum gas trackers such as Gasnow.org, the Ethereum Gas Station, and/or Etherscan Gas Tracker. These provide real-time updates on how long a transaction might take to confirm if you use X gas price.
3. Lastly, to avoid stuck transactions, we recommend waiting for each transaction to confirm, before confirming the next transaction.

To understand #3, say an Approval transaction has too low of a gas price and gets stuck, while your second transaction is already confirmed but also stuck as the prior transaction with a lower nonce is stuck, if you drop/replace the first transaction then your second transaction will fail because the DeFi app doesn't have permission to spend an ERC20 token you were attempting to Approve, so now you've lost some gas on the drop/replace of transaction #1, as well as a Failed/Reverted transaction #2.

The key takeaway is patience while Ethereum is still using PoW and network congestion is still an issue. Becoming a DeFi ninja means becoming adept at choosing the right gas price so you don't get stuck.

Check out the video with tips below!

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