Customizing fees when sending ETH:

When you create a transaction on the Ethereum network using the Wallet, you can customize the fee you pay to Ethereum miners for sending ETH. Here's how:

  1. On the "Enter send amount" screen, tap on the "Network fee" icon

  2. Choose from one of the three following options:

'Eco' means you'll pay a lower fee, but your transaction will take longer*

'Fast' strikes the optimal balance between cost and speed

'Fastest' optimizes for speed over cost

Here’s how to adjust the transaction fee when sending Ethereum (ETH):

How do fees work when sending ETH?

Just like with Bitcoin, making transactions on the Ethereum network incur fees that are paid to miners. Also just like with Bitcoin, miners optimize for profitability. This means transactions with higher fees are typically confirmed faster than those with lower fees.

While transactions in Bitcoin are measured in size (bytes), transactions on the Ethereum network are measured by computational effort, which is delineated in units of "gas." For example, sending ETH from one wallet to another (one of the simplest transactions you can make on the Ethereum network), may consume 20,000 units of gas.

When you create an Ethereum transaction, you must set the "gas price". This is the amount of ETH you are willing to pay for each unit of gas consumed. Gas price is measured in Gwei (giga wei), which itself is a denomination of ETH. Each Gwei is equal to 0.000000001 ETH (10-9 ETH). So, instead of saying that your gas costs 0.000000001 ETH, you can say your gas costs 1 Gwei.

The cost you pay for a transaction on the Ethereum network, then, is a function of the gas price you set and the gas units your transaction consumes.

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