-
Bitcoin $94,062.6634
-6.29% - Ethereum
$2,523.4436
-19.05% - Tether USDt
$1.0009
0.09% - XRP
$2.3148
-20.44% - Solana
$195.6992
-8.05% - BNB
$564.1110
-14.09% - USDC
$1.0002
0.01% - Dogecoin
$0.2458
-19.05% - Cardano
$0.6862
-23.02% - TRON
$0.2206
-9.02% - Chainlink
$18.4399
-18.73% - Avalanche
$24.8070
-20.87% - Stellar
$0.3261
-16.39% - Sui
$3.0539
-18.33% - Toncoin
$3.7041
-19.51% - UNUS SED LEO
$9.6694
-0.88% - Hedera
$0.2307
-18.80% - Shiba Inu
$0.0...01404
-19.93% - Hyperliquid
$23.1387
0.27% - Bitget Token
$6.0669
-9.97% - Litecoin
$94.9459
-18.51% - Polkadot
$4.5351
-22.10% - Bitcoin Cash
$310.5715
-22.28% - Ethena USDe
$0.9996
-0.08% - Dai
$1.0001
-0.01% - Uniswap
$8.8694
-17.89% - MANTRA
$5.2458
0.21% - Pepe
$0.0...09382
-23.28% - NEAR Protocol
$3.3287
-20.42% - Monero
$210.7417
-9.44%
How to calculate the Coinbase contract transaction fee
To calculate the transaction fee for a contract interaction on Coinbase, multiply the gas price by the gas limit and add the base fee.
Nov 11, 2024 at 12:15 am
How to Calculate the Coinbase Contract Transaction Fee
Coinbase calculates the transaction fee for contract interactions based on the following factors:
- Base Fee: The base fee is a flat fee that is applied to all contract interactions. The base fee is currently set at 0.00005 ETH.
- Gas Price: The gas price is a variable fee that is set by the user. The gas price determines how much the user is willing to pay per unit of gas. The higher the gas price, the faster the transaction will be processed.
- Gas Limit: The gas limit is the maximum amount of gas that the user is willing to spend on the transaction. The gas limit determines how many computations the contract can perform.
The transaction fee is calculated as follows:
Transaction Fee = Base Fee + (Gas Price * Gas Limit)Example
Suppose you want to interact with a contract that requires 21,000 units of gas to execute. The current base fee is 0.00005 ETH, and you are willing to pay a gas price of 100 Gwei (0.0001 ETH).
The transaction fee would be calculated as follows:
Transaction Fee = 0.00005 ETH + (0.0001 ETH * 21,000) = 0.00215 ETHTips for Reducing Transaction Fees
There are a few things you can do to reduce the transaction fee for contract interactions:
- Use a lower gas price. The higher the gas price, the faster the transaction will be processed, but the higher the transaction fee will be. If you are willing to wait a little longer for your transaction to be processed, you can save money by using a lower gas price.
- Use a gas limit estimator. There are a number of online tools that can help you estimate the gas limit for your contract interaction. Using a gas limit estimator can help you avoid setting a gas limit that is too high, which would result in you paying an unnecessarily high transaction fee.
Conclusion
The transaction fee for contract interactions on Coinbase is calculated based on the base fee, gas price, and gas limit. By understanding how these factors are used to calculate the transaction fee, you can take steps to reduce the cost of your contract interactions.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
- XRP, Dogecoin, and Ethereum Lose Momentum as Market Sentiment Shifts Bearish
- 2025-02-03 13:00:58
- Nobel Laureate Eugene Fama Predicts Bitcoin Will Be Worth $0 in 10 Years
- 2025-02-03 13:00:58
- Bitcoin Price Clinging To Support After 6% Drop, BEST Presale Surges Past $9M
- 2025-02-03 13:00:58
- Is a Crypto Comeback Possible? Explore the Future of Bitcoin in 2023!
- 2025-02-03 13:00:58
- Bitcoin (BTC) Price Drops 5% Amid Market-Wide Sell-Off After US Targets China, Mexico, and Canada with Import Taxes
- 2025-02-03 13:00:58
- Bitcoin (BTC), Ether (ETH) and Other Major Cryptocurrencies Slump as Asia Begins Trading Week
- 2025-02-03 12:50:58
Related knowledge
What are the impacts of different contract leverage multiples?
Dec 16,2024 at 12:46pm
Impacts of Different Contract Leverage MultiplesLeverage, a tool leveraged in the financial realm, amplifies trading activities and enhances potential returns while simultaneously magnifying risks. Understanding the implications of varying leverage multiples is paramount for savvy traders. This article delves into the impacts of different contract lever...
Which is more suitable for novices, contract trading or margin trading on Huobi.com?
Dec 16,2024 at 12:44pm
Which is More Suitable for Novices: Contract Trading or Margin Trading on Huobi.com?As a novice trader venturing into the world of cryptocurrency trading, the choice between contract trading and margin trading on Huobi.com can be a daunting one. Both instruments offer unique advantages and drawbacks, making it crucial to understand their key differences...
What does the leverage ratio of contract trading mean?
Dec 16,2024 at 12:43pm
What does the leverage ratio of contract trading mean?IntroductionLeverage ratio is a key concept in contract trading, allowing traders to gain exposure to a larger position than their initial capital would allow. This can potentially amplify both profits and losses, making it crucial for traders to understand its implications.Understanding Leverage Rat...
What scams exist in leveraged trading of virtual currency contracts?
Dec 16,2024 at 12:42pm
What Scams Exist in Leveraged Trading of Virtual Currency Contracts?Leveraged trading of virtual currency contracts, also known as margin trading, can be a lucrative way to increase your profits. However, it is important to be aware of the various scams that exist in this market so that you can protect yourself from losing your money.Pump-and-dump scams...
What is 20x leverage on Bitcoin contracts?
Dec 16,2024 at 12:40pm
What is 20x Leverage on Bitcoin Contracts?IntroductionLeverage is a powerful tool in the world of trading that can magnify both profits and losses. However, it's essential to understand the risks involved before using leverage, especially when trading volatile assets like Bitcoin. In this comprehensive guide, we will delve into the concept of 20x levera...
What is the difference between Huobi’s margin trading and contract trading?
Dec 16,2024 at 12:39pm
Understanding the Distinctions between Huobi Margin Trading and Contract TradingIntroductionHuobi, a leading cryptocurrency exchange, offers diverse trading options to cater to traders' varying risk tolerance and investment goals. Among these options are Margin Trading and Contract Trading, each with distinct features and trading mechanisms. This compre...
What are the impacts of different contract leverage multiples?
Dec 16,2024 at 12:46pm
Impacts of Different Contract Leverage MultiplesLeverage, a tool leveraged in the financial realm, amplifies trading activities and enhances potential returns while simultaneously magnifying risks. Understanding the implications of varying leverage multiples is paramount for savvy traders. This article delves into the impacts of different contract lever...
Which is more suitable for novices, contract trading or margin trading on Huobi.com?
Dec 16,2024 at 12:44pm
Which is More Suitable for Novices: Contract Trading or Margin Trading on Huobi.com?As a novice trader venturing into the world of cryptocurrency trading, the choice between contract trading and margin trading on Huobi.com can be a daunting one. Both instruments offer unique advantages and drawbacks, making it crucial to understand their key differences...
What does the leverage ratio of contract trading mean?
Dec 16,2024 at 12:43pm
What does the leverage ratio of contract trading mean?IntroductionLeverage ratio is a key concept in contract trading, allowing traders to gain exposure to a larger position than their initial capital would allow. This can potentially amplify both profits and losses, making it crucial for traders to understand its implications.Understanding Leverage Rat...
What scams exist in leveraged trading of virtual currency contracts?
Dec 16,2024 at 12:42pm
What Scams Exist in Leveraged Trading of Virtual Currency Contracts?Leveraged trading of virtual currency contracts, also known as margin trading, can be a lucrative way to increase your profits. However, it is important to be aware of the various scams that exist in this market so that you can protect yourself from losing your money.Pump-and-dump scams...
What is 20x leverage on Bitcoin contracts?
Dec 16,2024 at 12:40pm
What is 20x Leverage on Bitcoin Contracts?IntroductionLeverage is a powerful tool in the world of trading that can magnify both profits and losses. However, it's essential to understand the risks involved before using leverage, especially when trading volatile assets like Bitcoin. In this comprehensive guide, we will delve into the concept of 20x levera...
What is the difference between Huobi’s margin trading and contract trading?
Dec 16,2024 at 12:39pm
Understanding the Distinctions between Huobi Margin Trading and Contract TradingIntroductionHuobi, a leading cryptocurrency exchange, offers diverse trading options to cater to traders' varying risk tolerance and investment goals. Among these options are Margin Trading and Contract Trading, each with distinct features and trading mechanisms. This compre...
See all articles
