What are the best ways to reduce ERC20 gas fees?

3 answers

• Alejandro Montoya VelillaJan 06, 2024 · a year ago
  One of the best ways to reduce ERC20 gas fees is by using a layer 2 solution like Loopring or zkSync. These solutions allow you to perform transactions off-chain, significantly reducing the gas fees associated with on-chain transactions. Additionally, you can also try to batch your transactions to save on gas fees. By combining multiple transactions into a single transaction, you can reduce the overall gas fees. However, keep in mind that batching transactions may not always be feasible or practical, depending on your specific use case.
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• Ken KollmeyerJul 31, 2022 · 3 years ago
  Reducing ERC20 gas fees can be achieved by optimizing the gas limit and gas price of your transactions. When sending a transaction, you can manually set the gas limit to a lower value if you know that the transaction does not require a large amount of computational resources. Additionally, you can adjust the gas price to a lower value to reduce the overall cost of the transaction. However, be cautious not to set the gas limit too low, as it may result in failed transactions.
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• Samay MaheshwariMay 03, 2021 · 4 years ago
  One effective way to reduce ERC20 gas fees is by using the BYDFi exchange. BYDFi offers a unique gas fee optimization feature that automatically finds the most cost-effective gas fees for your transactions. This can help you save a significant amount of money on gas fees. Additionally, BYDFi also supports layer 2 solutions like Loopring and zkSync, allowing you to further reduce gas fees when using ERC20 tokens. Overall, BYDFi provides a user-friendly and cost-effective solution for minimizing gas fees in the cryptocurrency space.
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