When you make a transfer, who exactly gets the network fee that pops up?
Here’s how I understand it: Layer 2 bundles many transactions together before writing them back to the Ethereum mainnet, so the cost is spread out and the fee for each transaction is usually much lower.
1 Gwei is 0.000000001 ETH, or 10 to the power of −9 ETH.
What I do: I make sure to keep a little ETH in my account for Gas fees; otherwise, I can’t transfer out my other tokens.
$ETH is the native coin used to pay Gas fees on the Ethereum network. Current price: 2374.66.
#ETH
Here’s how I understand it: Layer 2 bundles many transactions together before writing them back to the Ethereum mainnet, so the cost is spread out and the fee for each transaction is usually much lower.
1 Gwei is 0.000000001 ETH, or 10 to the power of −9 ETH.
What I do: I make sure to keep a little ETH in my account for Gas fees; otherwise, I can’t transfer out my other tokens.
$ETH is the native coin used to pay Gas fees on the Ethereum network. Current price: 2374.66.
#ETH