Gwei and Gas

[Zurcermozz]

I tried to experiment my Metamask,  I entered to MyEtherwallet i think , and im researching for ETH and BTC , and when im on MeW I saw:
Gwei? and Gas? what does it mean? and do i need that ? thanks guys, thansk for the help 

[1714066711]

1714066711

[TryNinja]

Gas is Ethereum's transaction fee. Read: What is Gas?

Gwei is a denomination of ether (ETH), the cryptocoin used on the the Ethereum network.

1 Ether = 1,000,000,000 Gwei (10⁹)

Source: https://www.investopedia.com/terms/g/gwei-ethereum.asp

So, 1 Gwei = 0.000000001 ETH.

[Ozkhan]

I tried to experiment my Metamask,  I entered to MyEtherwallet i think , and im researching for ETH and BTC , and when im on MeW I saw:
Gwei? and Gas? what does it mean? and do i need that ? thanks guys, thansk for the help 

Each instruction executed on the dapp costs Gas. This Gas is an arbitrarily set number.

Programmers want to keep Gas consumption high enough so that nodes are motivated to pick up their dapps and run them, yet keep them low enough for users to be able to use the dapp.

Setting gas cost is upto the programmers. It’s a balancing act of matching supply with demand.

Setting gas price is upto the users. If you set a high gas price, the dapp will run faster.

[bkrobottc]

In example for you:
If u set gas is 250000, so the fee u pay is 250000*10^(-9) ether
Formula: Fee = Gas.Gwei
Gwei = 10^(-9)*ETH
 

[mithrim]

Just head over to https://ethgasstation.info/ to see the current gas price needed in order that a transaction goes through  
Simply choose  "Gas Price SafeLow (Gwei)" and you're good. You can wait o/c in order to pay less. But that way you'll always see whether the amount you want to choose would be accepted.

   

[paxmao]

Gwei is a sub unit of ethereum, equivalent to ... not much 1 gwei = 0.000000001 ETH.

Gas is a very different thing. Firstly know that sometimes GAS is the currency associated with NEO. But in the context of ethereum it is the unit of computational cost.

Example: To make a simple transfer it will cost you 25k Gas. To execute certain smart contract can cost you 1 Million gas, etc... In fact, a poorly written contract and gas set to "no limit" would cost you ALL THE ETHER in your account. You can potentially loose all. But no panic, just always set gas limit to some value.

An now the most important thing: the price of gas is paid in ether. Is just like if you were paying in dollars for the fuel of your car. The tricky thing is that you decide the cost.

Now, in the gas station queue you have 10 people. One offers 1 dollar per litre and another offers 2 dollars per litre. Who gets served first? The highest bidder.

With the price of gas is the same, if you offer too little your transaction will take a long time, it may even never be processed. To choose the right price just check "how long is the queue" here https://ethgasstation.info/

See those numbers? Safe Low, Standard, Fast.... that is the price that is reasonable to have your transaction or smart contract call within the periods of time mentioned. If you go under Safe Low your transaction will take a looooong time.

How do you apply this?

1- You need to know how much gas is your smart contract or transfer expected to consume. Transactions normally are set at GAS LIMIT 25.0000
And the owner of a smart contract should inform you of the expected execution cost. Never set LIMIT to "no limit", you may loose all your ETH.

2- Go to Myetherwallet or any other that let´s you set price of gas and put any of the values that you found in gas station depending on how fast you need the task done.

3 - Fill in the rest of the information and Launch!

[Thirdspace]

Gwei? and Gas? what does it mean? and do i need that ? thanks guys, thansk for the help 

yes you need to set their values before making/sending any transaction on Ethereum platform
check this post https://bitcointalk.org/index.php?topic=3285767.0
it gives you basic idea of gas/gwei on Ethereum and explains them pretty straight forward

[acheampong64]

I think Gwei is a subunit of Ethereum (for example we say Satoshi for a subunit if Bitcoin). Also, gas is the transaction fee (as in something needed to power your transactions on the blockchain

[permadi]

bro, we can think of that gas as a fuel for transportation, the same as crypto, we need fuel to be able to transfer or receive our tokens called "GAS", if you are confused about how much gas you need you can follow the advice already setet in your wallet .. transaction speed depends on the amount of gas we use, if the network is busy, then the transaction will be more consuming gas to finish fast

[trupero_uno]

Gwei is a unit used in ethereum network in amount of 10^-9 ETH for each, while Gas is the amount of fee needed to execute the transfer such from a wallet to other wallet. Usually there will be a such amount of gas fee to transfer a token, there will be a minimum gas in mining pool to be concerned for optimizing your gas fee.

[BitMaxz]

Gas price safe low sometimes not work based on what I experienced before since you are using the metamask wallet I suggest you don't edit the given gas limit and only edit the gwei with recommended or standard gwei price from https://ethgasstation.info/

Better explanation about gas you can read it here https://myetherwallet.github.io/knowledge-base/gas/what-is-gas-ethereum.html

and you can check here https://www.myetherwallet.com/helpers.html what is Gwei in ethereum,.

Every time you make a transaction you must always check the ethgasstation.info so that you know if what are recommended gwei prices.