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how to pay gas fees on coinbase wallet

Understand gas fees to ensure you have sufficient funds and can adjust the settings on Coinbase Wallet to set the gas fee amount and optimize transaction processing times.

Oct 29, 2024 at 10:53 pm

How to Pay Gas Fees on Coinbase Wallet

Step 1: Understand Gas Fees

Gas fees are transaction fees paid to crypto miners for processing transactions on the blockchain.

Step 2: Add Funds to Your Coinbase Wallet

Make sure you have sufficient funds in your Coinbase Wallet to cover both the transaction amount and gas fee.

Step 3: Initiate a Transfer

Navigate to the "Send" tab in your Coinbase Wallet, enter the recipient address, and specify the transaction amount.

Step 4: Adjust Gas Fee Settings

Under the "Advanced Options" section, you'll find the "Gas Fee" tab. Here you can set the gas fee amount by adjusting the "Gwei" value:

Low: Lower gas fees but potentially longer processing times.
Medium: Moderate gas fees and processing times.
High: Higher gas fees but faster processing times.

Step 5: Confirm the Transaction

Review the transaction details, including the gas fee amount. If satisfied, tap "Send" to confirm the transaction.

Additional Notes:

Gas fees vary based on network congestion.
Coinbase Wallet automatically recommends a gas fee based on current network conditions.
You can also choose to "Custom Set" the gas fee manually by entering a specific Gwei value.
Higher gas fees do not guarantee faster processing.
You can check the status of your transaction on the blockchain explorer.

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