Cryptocurrency Market Gas Fees Explained

defi-news_iiqp/Iw9Iej4nR.jpeg
Crypto Gas Fees

Summary

  • Gas fees is a DeFi platform levy
  • Gas fees are charged in Gwei

In decentralized finance, the gas fee is a term used to refer to the price of doing business on DeFi platforms. They are charges levied by DeFi platform developers for transactions on the Ethereum blockchain, where most DeFi transactions occur.

Gas fees are measured in Gwei, which is a small percentage of the ETH token. This helps to break down the fees into realistic units. For instance, a user can be charged 20 Gwei instead of its equivalent of 0.00000002.

Kibet Elikana
Form placeholder