Follow this guide to make advanced gas controls if you want more control over the gas you pay in Halo Wallet.
Before delving into the details, some fundamental terminology must be defined.
Some Basic terms:
In the context of cryptocurrency, the gas limit refers to the maximum amount of gas that can be consumed during the execution of a smart contract on a blockchain.
Gwei is a denomination of the cryptocurrency Ethereum. It is a measure of the amount of Ether (ETH) that is required to perform a transaction or execute a smart contract on the Ethereum blockchain. Gwei stands for “giga wei,” where one wei is the smallest denomination of ETH (10^-18 ETH).
In the context of cryptocurrencies, gas price refers to the price of each unit of gas in the blockchain network. Gas is used to execute operations on a blockchain network, such as sending transactions, deploying smart contracts, and invoking functions. The gas price is denominated in a smaller unit of the cryptocurrency and is typically set by the users who are initiating transactions or running smart contracts.
If the gas price is set too low, the transaction may take longer to confirm, or it may not be processed at all, as miners may prioritize transactions with higher gas prices.
Please Note Halo Wallet doesn't charge any gas fee and we can't control it. Gas fee is depending on supply and demand.
How to use advanced gas controls?
Advanced gas control is a feature available in some cryptocurrency wallets and platforms that allows users to have more control over the gas settings of their transactions. With advanced gas control, users can set specific gas prices and gas limits for their transactions, which can help to optimize the transaction cost and speed.
You can precisely configure gas limit for a transaction on Halo Wallet. When you get to the final screen before sending your transaction, you will see “Gas Fee”. We’ll take the transfer of USDT as an example.
Step 1: Tap the dropdown button on the right of “Gas Fee”. You’ll then see the default setting of gas fee in the column.
Step 2: Click [Medium] and enter the page of “Adjust Gas Fee”. Click [Set] to customize the gas fee. Input your desired gas limit and tap [Save]. You have successfully configured the gas fee.
Do I need to edit gas limit?
Halo Wallet automatically sets your gas limit depending on the type of transaction you’re trying to execute. In most cases, the gas fee of the default setting will be adequate to complete your transaction. If you want to check it or edit it, or there’s an error and you need to adjust it manually, then follow the above steps to make advanced gas controls.
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About Halo Wallet
Halo Wallet is a secure and easy-to-use crypto wallet that supports multi-chain aggregation and aims to provide Web3 users with a more efficient and deep insight into investment opportunities through Social web. With the leading security technology audited by Hacken, Halo Wallet is a self-custody wallet with users having full control of their assets. Let Web3 users discover the value of projects earlier, monitor their investment portfolios, and make smart decisions. That is where the Halo Wallet comes into play!