Bitcoin Forum

I successfully sent some cryptocurrency the other day. Then when I looked over my transaction, it had a gas amount or charge. What is this gas amount? I never heard of it and I don't even know what it is. Now is there anyway to avoid it or at the very least minimize it's amount? Please can someone give me some advice and steer me in the right direction!

The gas amount is like transaction fee, You cant avoid it but you can reduce it. But if you reduce the gas fee for example from 41 gwei to 1 gwei your transaction will take very long time to be procced. The higher the gas fee the faster your transaction to be confirmed. Use metamask so you can control it by your self.

It's a "fee" for some altcoins.
For example in ETH you need to pay gas for transaction fee. You can change gwei amount to send with lower gas.
Let me know if you talk about other altcoins gas so I can help you.

I assumed you are talking about ETH since you mention GAS. It's like a transaction fee. If you want fast transaction time, you give a higher GAS amount. If you set your GAS too low, your transaction will take longer time. You can avoid gas fee but you can minimize. To help calculate gas fee you can use https://ethgasstation.info for reference.

you cannot avoid the gas because thats a fee for your transaction however you can control the gas fee to minimize your transaction fee
the higher the gas fee the faster confirmation will be.

Thanks for the info was wondering about this myself

It doesn't need to be particularly ETH. NEO has GAS too. ;)
And it's literally "GAS", not gwei etc.

https://coinmarketcap.com/currencies/gas/

Gas is the fee you needed to be able to proceed a transaction in ethereum and neo network,gas is acting literally as gas like the one we are using in our cars,the more gas you spent per transcation the faster the transaction will complete.

Yes it just the transaction fee. On Ethereum blockchain is used for transactions of Ethereum and tokens that are on the same blockchain.
For Ethereum blockchain you can change it in Etheredelta, Myetherwallet or Metamask. To know how much is enough to push your transaction through
you can use eth gas station. Here is the link.

https://ethgasstation.info/

Consider the example of etherium :
The etherium is a network, a block. Etherium (ETH) is the fuel for the network. When you pass the tokens, interact with the contract, send ETH or perform any actions in the blockroom, you must pay for these calculations. The payment is calculated in gas, and the gas is paid to ETH.

* 21 000 - the gas limit for the standard transaction  ;)

for gas normally i need 200k
and this is for a high value altcoin.
is this too high in my opinion?
maybe be to very little?

Gas is the internal prices of the Ethereum platform established for performance of transactions or the smart contract. At the time of writing before start of Frontier it is recorded on a mark in 10 Szabo that makes about 1/100 000 air (Ether). It is made to separate unit of air (ETH) and its market value from a unit of measure of use of computing power (gas).

Thus, the mayner can decide to increase or reduce use of gas according to its purposes, avoiding a situation in which increase in market prices of Ethereum will result in need of the change in price for gas. It also is the response to discussion in bitcoin community of structure of the commissions.

The gas system not strongly differs from use of the designation "kilowatt" for measurement of house electricity consumption. There is only one difference from the real market of the electric power.

It is that the initiator of transaction himself establishes gas price with which the mayner can agree or not agree that he as a result leads to emergence of the market of the gas

What is Gas? A good instruction for beginners.

^{If you want to spend less on a transaction, you can do so by lowering the amount you pay per unit of gas. The price you pay for each unit increases or decreases how quickly your transaction will be mined.}

https://myetherwallet.github.io/knowledge-base/gas/what-is-gas-ethereum.html

Gas is the transaction fee. This is how the crypto world works and so do the miners. In any case, you have to pay for the transaction

all any transactions has a fee. that gas you said, is like a transaction fee. some of wallet has a gas amount (actually all wallets) but that gas amount is not higher price to pay,so that this couldnt affect on your saving or it might be affect but not too much..

If you want your transactions take a minimal time to finish, then increase the amount of gas than the typical suggested amount of it. But dont you worry about it. Its equivalent to eth is very small,  say for 21000 units of gas at 20 GWEI = 0.00042 ETH.

"Gas" is like transaction fee, it's settings by some altcoin's developers. if you want to transact some kinds of altcoin's then they are demand various kind of "gas". but I see if you want very lower amount of transaction then "gas" is same! it's fall me some uunpleasant situation.

It becomes your responsibility to pay gas amount if you are using ethereum network or something that related to the smartcontract system. it's the same if you are paying or sending anything with bitcoin and you must pay the transaction fees. but in gas has different system with bitcoin. Because you need to input gas price and amount the contract will try to execute based on your input.

I think that some kind of minimum cost limit that must be met to be able to transact with certain coins or tokens, about the amount of gas required it varies depending on the token or crypto coins if not met then the amount of crypto money or tokens can not be melted. therefore it is obligatory to have more gas for the smooth disbursement of such funds. and you will only suck your thumb.

thanks for making this thread now i know what is gas is all about i had this same question and i am glad a found this thread and i can now understand what really gas is 

Its the transaction fee you use to pay for your ethereum transaction to be included in blocks and get confirmed in a while. You can minimize your fee by reducing the amount of gwei. Decreasing and increasing your gas fee will affect the speed of transaction confirmations.

The gas amount is a transaction fee