Increasing GWEI for Faster Transactions
By: Pegaxy.io | January 18, 2022
Transactions taking awhile? It may be due to the number of people transacting within the network! One way to go about this is to increase your gas. Follow along to understand what gas is, why it matters, and how to increase GWEI to make your transactions go through FASTER.
What is Gas?
Gas is essentially the unit of computational effort put in to execute an operation.
Best analogy would be; much like how a car needs gas (fuel) to operate, transactions need gas to make sure they move.
How about Gas GWEI? What is GWEI?
Gas GWEI is the Gas Price, when you increase the amount of GWEI you are willing to put into the transaction, you are willingly adding a few more of your tokens (in Polygon, $MATIC), to execute your transaction faster.
With our car example, increasing GWEI would mean you’re using more of your fuel to run your car FASTER.
More GWEi = Faster transaction.
We will be talking about how this matters in Pegaxy, and a step-by-step tutorial with our recommended number of GWEI.
How this matters in PEGAXY?
As we are in the Polygon Network, our transactions require $MATIC tokens as our gas, and when transactions take their time, it could be in your interest to increase your GWEI as this would help prioritize your transaction.
Increasing your Gas, Step-by-step.
While this isn’t required, if you are interested in having faster transactions for whatever reason it may be, follow along.
For typical days, we recommend 80 – 100 GWEI for your transactions to go through quicker than the regular, and don’t worry the amount taken isn’t that much!
You can also go to https://polygonscan.com/gastracker to see which GWEI is appropriate for the day.
Presets are also there, having medium-high gas may help in speeding up your transaction!
- When doing a transaction (whether that be Buying from the Marketplace, Renting a Pega, Taking back your Pega, etc…) you will see one of these. Click on EDIT.
- Notice the MAX PRIORITY FEE (GWEI) & MAX FEE. Change your GWEI into 80 – 100.
- Save your changes, then CONFIRM your transaction.
Above picture shows the amount of $MATIC put into the transaction… not bad at all!
If you followed this, you may notice your transaction confirmation to go about quicker than usual. While there may be times where Polygon is congested, for typical days, this will suffice.
Being aware of what Gas & GWEI is will definitely be great knowledge, and we at Pegaxy hope that this was insightful for your understanding of transactions!
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