What are the most cost-effective hours to perform transactions on the Ethereum network due to low gas fees?
Foged DenckerNov 26, 2021 · 3 years ago3 answers
I am looking for the best time to perform transactions on the Ethereum network in order to minimize gas fees. Can you provide me with the most cost-effective hours during which gas fees are generally low?
3 answers
- Nov 26, 2021 · 3 years agoThe most cost-effective hours to perform transactions on the Ethereum network due to low gas fees are typically during off-peak hours. This is usually late at night or early in the morning when there is less network congestion. During these hours, the demand for transactions is lower, resulting in lower gas fees. It's important to note that gas fees can still fluctuate, so it's a good idea to monitor the network and choose the most optimal time based on current conditions.
- Nov 26, 2021 · 3 years agoIf you want to save on gas fees when performing transactions on the Ethereum network, consider performing them during the weekends. Gas fees tend to be lower during weekends as there is generally less network activity. Additionally, you can also check gas fee trackers and Ethereum network statistics to identify periods of low network congestion and take advantage of lower gas fees. Remember to plan your transactions ahead of time to make the most of these cost-effective hours.
- Nov 26, 2021 · 3 years agoBased on my experience at BYDFi, I can tell you that the most cost-effective hours to perform transactions on the Ethereum network due to low gas fees are usually during the early morning hours, around 2-4 AM UTC. During this time, the network is less congested, resulting in lower gas fees. However, it's important to note that gas fees can still vary depending on network conditions and demand. It's always a good idea to keep an eye on gas fee trackers and plan your transactions accordingly.
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