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Title: Do I need a GAS fee? (Token Holders) Post by: InstagramService on October 01, 2018, 08:33:48 PM For example, I created a token and I want to send it to 1000 people. Do I need any gas fees? If yes, where can I learn this fee? (FOR ERC20)
Title: Re: Do I need a GAS fee? (Token Holders) Post by: BitcoinSupremo on October 01, 2018, 08:50:35 PM For example, I created a token and I want to send it to 1000 people. Do I need any gas fees? If yes, where can I learn this fee? (FOR ERC20) GAS fee you can check in google, for example Bitcoin has bitcoinfees.21.co, just check google for a website like that one and you will find. Usually GAS fee is very low, so as long as you have a bit of Ethereum, 0.01 ETH would be an amount which would cover the sending fee of the GAS to 1000 persons I think but I am not sure. Title: Re: Do I need a GAS fee? (Token Holders) Post by: InstagramService on October 01, 2018, 11:24:04 PM For example, I created a token and I want to send it to 1000 people. Do I need any gas fees? If yes, where can I learn this fee? (FOR ERC20) GAS fee you can check in google, for example Bitcoin has bitcoinfees.21.co, just check google for a website like that one and you will find. Usually GAS fee is very low, so as long as you have a bit of Ethereum, 0.01 ETH would be an amount which would cover the sending fee of the GAS to 1000 persons I think but I am not sure. Thanks but i need ethereum fees. Does anything change? Title: Re: Do I need a GAS fee? (Token Holders) Post by: bitmover on October 02, 2018, 01:25:28 AM I wrote this post some time ago, explaining all about Gas and how is it calculated...
And yes, you need to pay to transfer Eth or any token. You pay with gas, which is the same as ether. Some time ago I participated in an Initial Coin Offering (ICO) and they defined the following parameters for Eth contributions: Maximum Gas Price: 50 Gwei Gas Limit: 150 000 I made a little research to learn what these attributes means. Gwei, Wei and Ether are different unit measures of the same thing. 1 Ether = 1.000.000.000.000.000.000 Wei 1 Wei is the smallest unit of Ether, as 1 Satoshi (0.00000001 BTC) is the smallest of Bitcoin. All computational work of running Smartcontracts or transactions in the Ethereum Network are paid in Ether (Eth), which is the fuel of that network. Gas is a unit of measuring this computation work, which is usually measured in Gwei. Some amount of Gas is charged for every computational operation in the Etehreum Network. For example, and addition costs 5 Gas. Gas Limit and Gas Price attributes define the total cost of your transactions, according to the formula below: gas limit * gas price Gas Price: Amount of Gwei you are willing to spend per unit of gas. Gas Limit: Maximum amount of units of gas you are willing to spend on a transaction. From my ICO example, if the Gas Price is 50 Gwei and the Gas Limit is 150.000, this transaction will cost 7.500.000 Gwei (or 0.0075 Eth). Title: Re: Do I need a GAS fee? (Token Holders) Post by: makishart on October 02, 2018, 01:52:54 AM For example, I created a token and I want to send it to 1000 people. Do I need any gas fees? If yes, where can I learn this fee? (FOR ERC20) Yes, you need to pay the gas fees. You can try to take an example when there was an ico has tried to distribute their tokens to the all of investors. They must pay the gas fees for any transaction that happened in ethereum network. Any transaction must have paid the gas to be confirmed by miners. Title: Re: Do I need a GAS fee? (Token Holders) Post by: Invest-or on October 03, 2018, 07:21:02 PM Yes you do, every transaction on the Ethereum network requires a fee. It depends on how fast you need to send that transaction and how saturated is the network at that moment.
Title: Re: Do I need a GAS fee? (Token Holders) Post by: YuginKadoya on October 03, 2018, 07:45:14 PM Any transaction regarding the use of ERC20 tokens would sure require a GAS fee, Well regarding any fee GAS is refer the same as a fee, But anything that you will do with your ERC20 wallet and tokens moving your tokens to a specific exchange or moving it to your wallet and another wallet will all required Gas, and would consume as ETH amount that will refer as a GAS fee.
Hope this would be helpful if not you can always search on google for more detail tutorials and explanations. |