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What is gas in crypto? Simply put, gas is the computing power needed to validate a particular transaction on Ethereum. On other blockchains like Bitcoin, gas is referred to as “network fees”.
Ethereum happens to be the most popular blockchain in the market right now, hosting over 3,000 DApps (decentralized applications), 4X the number of DApps on most blockchains. Most developers prefer to build their projects on Ethereum because it is feature-rich and easy to use.
Miners on proof of work blockchains like Ethereum validate every transaction using computational power or electricity to mine. You, the user, must pay for this power in the form of gas or network fees.
originally posted by: TheGreatWork
Hello, so as a noob to crypto, I started off with coinbase, which I hear should be shunned, but the question I have is the fees. I wanted to test it out by sending a small amount to my wallet, so I tried to send .50 cents and it wants to charge me $35.00 LOL. What am I missing? Thank you.
originally posted by: IndieA
originally posted by: TheGreatWork
Hello, so as a noob to crypto, I started off with coinbase, which I hear should be shunned, but the question I have is the fees. I wanted to test it out by sending a small amount to my wallet, so I tried to send .50 cents and it wants to charge me $35.00 LOL. What am I missing? Thank you.
It shouldn't cost anything to transfer funds between coinbase and your wallets, unless they are charging transaction fees now, but even if so, those should be very low. Trying to transfer such a small amount might be your issue.
Why should Coinbase be shunned?
Coinbase has been outstanding. I trust Coinbase over all other exchanges at this point.
So continue supporting crypto, your niave as all hell to think your measily amount of income does anything but hide criminal transactions.