Cutting Down Gas Fees A Must Watch Tutorial For Drip Network Users
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- In this video, you'll learn how to drastically reduce gas fees when using Drip Network. Follow a step-by-step guide and valuable tips to save money on every transaction.
- Learn how to lower your gas fees when using Drip Network.
- Follow a step-by-step guide to reduce transaction costs.
- Discover a useful tip to save money on gas fees.
- Make simple adjustments in MetaMask for significant savings.
The video titled "How To Lower Your Gas Fees - MUST Watch!!" on the Drip Nomad YouTube channel offers viewers a valuable guide on reducing gas fees when using Drip Network. The host, Drip Nomad, explains a straightforward process to lower transaction costs, which can result in significant savings. This summary provides a step-by-step breakdown of the content discussed in the video.
- Drip Nomad introduces the topic, emphasizing the frustration many people feel regarding high gas fees.
- Drip Network, a platform where users engage in daily hydration activities, is mentioned as incurring transaction costs.
- The video credits one of Drip Nomad's admins, Sasha, for the idea and highlights Sasha's assistance with compromised wallets.
- To reduce gas fees, users need to adjust their RPC settings in MetaMask, starting by clicking on the circle at the top right and navigating to settings and networks.
- While the smart chain is the default setting for Drip Network, other bin protocols also use the smart chain. Users may need to create a new RPC if the save button for editing is grayed out.
- The new RPC should be named "Binance Smart Chain" with the RPC URL set to "https//rpc.ankr.com/bsc" and Chain ID 56.
- Adjusting the suggested gas fee is essential to lowering transaction costs. Users should decrease the gas price from five to one.
- Lowering the gas price may deprioritize transactions in the mempool but significantly reduces gas fees.
- The video demonstrates the process with a live example using a ledger.
- Gas fees can be reduced from a significant amount to as low as six cents, offering substantial savings for daily users.
- The summary emphasizes the effectiveness of this method in reducing gas fees and highlights the importance of applying these steps daily.
- It is suggested that users press the "speed up" button if a transaction takes too long, which may result in a 10% higher cost.
- The video ends with an enthusiastic endorsement of the gas fee reduction method.
In summary, this video provides a clear and practical guide on how Drip Network users can lower their gas fees, potentially saving a significant amount of money over time. The step-by-step instructions, along with the live demonstration, make it easy for viewers to follow along and implement these cost-saving measures.
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