Understanding the Nature of Gas Fees: The Complete Guide to Successful Blockchain Transactions

When executing transactions on the blockchain, the presence of gas fees is always a concern. Many beginners proceed with transactions without understanding how gas fees work, leading to unexpected problems. Gas fees are not just simple charges; they are a crucial mechanism that supports the security and reliability of the network. In this article, we will comprehensively explain how gas fees function, how they impact transactions, and how to manage them efficiently.

Why Do Gas Fees Occur?

In the world of blockchain transactions, “gas fees” serve the same role as gasoline in a car. Just as a car needs gasoline to run its engine, the blockchain network requires rewards to process transactions.

Specifically, gas fees (also called “miner fees”) are payments made to miners or validators. These network participants play vital roles such as:

• Verifying and recording transactions
• Maintaining blockchain security
• Keeping the network operational

When executing a transaction, the blockchain’s computational resources (processing power, storage, bandwidth) are consumed. Gas fees are paid as compensation for moving and maintaining these resources.

The formula for calculating gas fees is as follows:

Gas Fee = Gas Price × Gas Used

• Gas Price (expressed in Gwei): The unit price set by the user. Setting it too low may lower miners’ priority, causing delays or non-confirmation.
• Gas Used: The amount of computational work required to execute the transaction or smart contract. It varies depending on transaction complexity.

Tokens Used to Pay Gas Fees: Differences by Network

Gas fees must be paid with cryptocurrencies, but the specific token varies by network. This is a common point of confusion for many beginners.

Payment with Mainnet Tokens

Most blockchains require paying gas fees with their native tokens:

• Ethereum network → ETH
• Bitcoin → BTC
• Solana → SOL
• Tron → TRX

Using Specific Tokens or Layer 2 Solutions

Some blockchains, especially Layer 2 solutions or sidechains, may use different tokens. For example, certain Avalanche subnets require tokens other than AVAX.

Overview of Gas Fee Tokens on Major Blockchain Networks

As seen in this table, gas fees are not always paid with the mainnet token. It is important to check which tokens are supported beforehand.

Common Causes of Transaction Failures: Insufficient Gas and Network Congestion

One of the most frequent issues faced by blockchain beginners is transaction failure, often related to gas fees.

Cause 1: Lack of Native Tokens to Cover Gas

Suppose your Ethereum wallet only has USDT and you try to swap USDT for ETH. The transaction will fail because gas fees on Ethereum must be paid in ETH, not USDT.

Even if your wallet has sufficient funds for the transaction itself, if you lack the native token needed for gas, the transaction will not process at all.

Countermeasure: Always keep a small amount of the mainnet native token in your wallet. For Ethereum, it is recommended to hold at least around 0.01 ETH.

Cause 2: Network Congestion Leading to Delays or Failures

When the network is congested, transaction processing can be significantly delayed. Setting a low gas price reduces priority, and in worst cases, the transaction may not be processed at all.

During congestion, increasing the gas price to prioritize your transaction is necessary. This is what is meant by “raising the gas fee.”

Cause 3: Rapid Changes in On-Chain State

For example, if the tokens you intend to transfer are used in another transaction first, your transaction may fail. This is especially common during active trading.

Strategies to Minimize Transaction Failures

1. Check Network Conditions in Advance: Use gas trackers to monitor network congestion.
2. Maintain Sufficient Margin: Ensure you have enough mainnet tokens to cover both the transaction amount and gas fees.
3. Set Appropriate Gas Prices: During congestion, set higher-than-average gas prices to ensure priority.

How to Quickly Resolve Insufficient Gas Fees

If you find yourself lacking the tokens needed to pay gas, you can resolve this quickly by:

Method 1: Deposit Native Tokens

Transfer the required tokens directly from an exchange or another wallet to your current address. You can also ask friends to send tokens. Note that moving tokens across networks may take some time.

Method 2: Use OTC/P2P Services

Services like OTC or P2P platforms (e.g., QuickBuy on Bitget Wallet) allow you to purchase gas fee tokens directly with fiat currency. This is one of the fastest solutions.

Achieving ‘Gas-Free’ Transactions with Bitget Wallet

To significantly reduce the burden of managing gas fees, Bitget Wallet offers a “Gas-Free” service. This service integrates two innovative features:

Feature 1: Instant Gas

Allows users to borrow the necessary gas fee even if they do not hold the mainnet tokens in advance. This greatly reduces transaction failures caused by insufficient gas.

Feature 2: GASU Token Rewards

By participating in activities within Bitget Wallet, users can earn GASU tokens, which can be used to reimburse gas fees after transactions. Regular users can effectively reduce their gas costs through this mechanism.

Expanding Supported Networks

Currently, the Gas-Free service is available on the following blockchains:

• Ethereum
• Tron
• BNB Chain
• Polygon
• Base
• Arbitrum

Bitget Wallet is continuously expanding support to more chains.

Special Support Program for TON Ecosystem (Ended)

Previously, Bitget Wallet supported gas fee subsidies for TON transactions to promote growth within the TON ecosystem. Users could enjoy gas-free transfers, swaps, and DApp interactions on TON chain. Subsidized TON tokens could be viewed and managed in users’ reward accounts, effectively reducing costs.

The Importance of Gas Fee Management and Future Outlook

Understanding the gas fee mechanism is essential for successful blockchain transactions. By grasping how gas fees are calculated, which tokens are used on different networks, and how to avoid failures, you can:

• Prevent unexpected transaction failures
• Execute cost-efficient transactions
• Enjoy a stress-free Web3 experience

Innovative tools like Bitget Wallet greatly simplify gas fee management, which was previously a burden for users. As blockchain technology evolves, further optimization of gas fees is expected.

Gas fees are not just charges; they are vital for the security and efficiency of decentralized networks. By understanding and managing them properly, you can unlock the true potential of blockchain. For more detailed information or support, please contact Bitget Wallet’s official channels anytime.

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