How to Adjust Gas Price and Gas Limit

Background

Ethereum London hardfork introduced EIP-1559. EIP 1559 offers a solution to make fees less volatile, transactions more reliable, and the entire experience of interacting with Ethereum smoother. Fundamentally, EIP-1559 gets rid of the first-price auction and replaces it with a fixed-price sale. There is an explicitly ‘base fee’ to be included in the next block. For users or applications that want to prioritize their transaction, they can add a “tip” to pay a miner.

Gas & Gas Limit

If you do not know what is gas or gas limit, please read the articles from Binance Academy.

BEW now provides with the option to adjust your priority gas price and gas limit for Ethereum network

How do I choose the right priority gas fee?

BEW will provide you with three options:

• Fast: This is the best option for time sensitive transactions. If a Swap takes too long to process it will often fail and you may lose funds.

• Average: This is good for sending assets, withdrawing assets, or other non-time sensitive but important transactions.

• Slow: A lower gas fee should only be selected for transactions where processing time is less important. With a lower fee, it can be hard to predict when (or if) your transaction will be successful.

How do I set the priority gas fee?

On the page of transaction confirmation, click at "pencil" button to edit gas

There you can see three optiions: Fastest, Fast, or Slow. These values will be updated every 15s.

If you still need to edit pirority gas price: click "Advanced Options", then you can use the slider to pick a priority gas price.

Then, you need to confirm the transaction fee

Click "Send" to broadcast your transaction