If you have been researching or playing P2E games for a while, you might have heard of “Gas Fees”. You may have heard about Axie Infinity gas fees. The Ethereum Virtual Machine runs on the gas. This is why you are charged every time you transfer cryptocurrency from one point to the other.
Blockchain games are based on Ethereum, and hence, the blockchain charges a small percentage of ETH to process your transaction. For instance, an ETH deposit from MetaMask to Ronin will come with a gas fee.
If you would like to find out more about this game, check out the Axie Infinity guide for this game.
What are Gas Fees?
Gas Fees is a small amount of fee charged on transactions that happen over Ethereum. To carry out transfer of ETH, execution of a contract, buying NFTs, and more costs you some amount of ETH. These are the computation fees that you pay to the blockchain miners.
You pay gas fees in small fractions of ether. These fractions are called GWEI or Nanoeth. To self-execute contracts in a safe and decentralized manner, the gas allocates resources to the Ethereum Virtual Machine. In other words, you are paying to use the EVM.
Let’s simplify this with the help of a more illustrative explanation. There are a limited number of nodes and a huge, huge number of transactions to be carried out. Only a specific number of transactions can be processed in a second. Your transaction is one of the queue members. You pay a fee to get ahead in the line. This fee is called a gas fee.
The exact gas fee for the transaction is determined by demand and supply of the network miners. They can decline your transaction if the gas fee does not meet their demands, also the items you can buy on the Axie infinity Marketplace charge a fee.
Axie Infinity Gas Fees
Getting started with the crypto game needs you to carry out ETH transactions and therefore, you get charged gas fees. To get started, you need to sign up for MetaMask as well as Ronin. Deposits and Withdrawals from and to Ronin come with a gas fee.
As of now (at the time of writing) an ETH deposit will cost you anywhere between 20 USD to 43 USD depending on the speed you want. The next minute, the prices had shifted. The rate of gas keeps fluctuating. So, to avoid high fees, you have to keep an eye on the rates. A lot of websites will offer you the latest rates in a simple tabular format.
How can I avoid Gas Fees?
There is no way to avoid gas fees completely. However, you can avoid high fees if you carry out your transactions at inconvenient hours. For instance, the gas fees are highest on Monday from 8 AM to 1 PM EST. On a Wednesday, the gas fees are reasonable from 11 AM to 7 PM.
To play Axie Infinity, you are first asked to sign up and create a Ronin wallet. With Ronin, you can avoid fees on simple tasks like hatching eggs or buying something from the marketplace. External transactions are chargeable. However, Ronin charges you for deposits and withdrawals.
High Axie Infinity gas fees act as an entry barrier for many players. But if you research a little and wait till the right moment, you can get your transactions through for the least possible amount. The best way is to keep checking the gas rates and perform your transaction when GWEI hits 50 to 60. If you are lucky, you can get through with even lower rates.
Conclusion
Can’t decide whether you should play Axie Infinity? Well, you can weigh the pros and cons with our detailed Axie Infinity review. To help you get started with Axie Infinity, we have put together a brief Axie Infinity guide.
