You can set a preferred gas setting for all your future transactions in BlockWallet.
This setting will apply to all future transactions on all networks. You are still able to change the setting before submitting any individual transaction.
Default gas preference
You can set the following gas preferences.
- Low. Cheaper transactions but usually take longer to process.
- Medium. The default setting usually brings you a balance between cost and speed.
- High. The priciest setting but your transactions will usually process faster and more reliably.
Why use a different preference than the default?
There are a few reasons to use a different preference than the default. Here are two most frequent examples.
You can use the low default gas setting if you transact very infrequently and during low traffic. You can also use this setting if your transactions are low in value and you are not in a hurry to get them through. Ethereum network often has spikes in transaction costs so a low setting could be a good cost cutting measure.
Please note that a low default gas setting can result in more failed transactions especially in times of high traffic.You can use the high default gas setting if you transact often with high impact (trading, arbitrage...). A high default gas setting also makes sense on lower cost networks where the difference is not that significant. This can ensure your transactions process more quickly and reliably.