Gas fees on the Ethereum network have been a major pain point for users over the past year. As Ethereum has grown in popularity, more transactions are competing for limited space on the blockchain. This increased competition has driven gas prices up to uncomfortable levels. When using MetaMask to interact with Ethereum-based decentralized applications (dApps), you may encounter gas fees of $20, $50, or even over $100 at times. While these fees are necessary to get your transaction processed quickly, they can make using Ethereum prohibitive for smaller transactions. Fortunately, there are ways to reduce your ETH gas fees on MetaMask.
Understanding Ethereum gas and gas fees
To understand how to lower gas fees on MetaMask, you first need to understand what gas is on Ethereum. Gas refers to the fee required to perform a transaction on the Ethereum blockchain. Every operation on Ethereum, like sending ETH or interacting with a smart contract, requires computational resources to execute. Gas fees pay for that computational work.
Gas prices are denoted in GWEI, which itself is denominated in ETH. The gas price is essentially the cost per unit of gas. Miners prioritize transactions with higher gas prices. Standard Ethereum transactions today require a gas limit of 21,000 units of gas. The total fee you pay is gas limit * gas price. With 100 GWEI gas price, a standard transaction would incur a 0.0021 ETH fee. When gas prices rise to 200-300 GWEI during peak usage, fees can quickly exceed $50.
On MetaMask, gas fees are managed automatically by default. MetaMask will estimate an appropriate gas price and gas limit based on current network conditions. While convenient, this means you have limited control over the fee amount. Next we’ll explore some ways to override these defaults and reduce your ETH gas fees.
Adjusting gas price
The most direct way to lower your gas fees on MetaMask is adjusting the gas price. As mentioned above, MetaMask estimates a gas price automatically. However, you can override this by manually setting a lower gas price. Here’s how:
- Initiate a transaction in MetaMask as usual
- Before confirming, click the settings icon next to the transaction fee amount
- Under advanced options, click “Edit” next to Gas Price
- Lower the amount in GWEI and click “Save”
This will recalculate your transaction fee at the lower gas price. Be aware that setting too low of a gas price can cause your transaction to get stuck if miners ignore it. Check a gas price tracker like Etherscan to see the current safe low price.
Using gas price tiers on MetaMask
An even easier way to adjust gas price is using MetaMask’s gas price tiers. MetaMask recently added preset tiers that allow you to quickly select a low, standard, or high price. To use:
- Start a transaction as usual
- Before confirming, click the settings icon next to the transaction fee
- Select your desired tier – Low, Standard, or High
Choosing Low will recalculate your fee at a price around 30-50 GWEI lower than Standard. This can translate to over 50% savings on busy days. The downside is potential delays for miners to confirm your transaction.
Setting a custom gas limit
In addition to gas price, you can also lower fees by reducing the gas limit. The gas limit sets the maximum amount of gas to allow for the transaction. Standard Ethereum transactions have 21,000 gas limit. However, many transactions don’t need that much. Setting a lower custom gas limit reduces your maximum fee needed.
To set a custom gas limit in MetaMask:
- Start your transaction
- Click the settings icon next to the transaction fee
- Under advanced options, click “Edit” next to Gas Limit
- Reduce the amount of gas and click “Save”
Be careful not to set the gas limit too low, as that will cause your transaction to fail. Leave a buffer of at least 10,000-15,000 gas.
Using MetaMask gas estimator
You can also leverage MetaMask’s gas estimator to preview different fee amounts. The estimator shows you gas fees at Low, Standard, Fast, and Rapid tiers. To use:
- Initiate a transaction in MetaMask
- Click the icon next to transaction fee to open the gas estimator
- Preview the different fees for each speed
- Choose your speed and confirm the transaction
While not as customizable as manual settings, the estimator provides an easy way to choose a tier appropriate for your needs and budget.
Speeding up stuck transactions
If you send a transaction with too low of a gas price, it can get stuck pending for hours or days. You have a couple options to speed up stuck MetaMask transactions:
- Speed Up – Increase the gas price through MetaMask’s Speed Up feature. This submits a new transaction to replace the stuck one. Make sure to significantly increase the gas price.
- Cancel – Cancel the original transaction if still unconfirmed. You’ll get a refund for the gas minus a small cancellation fee.
Speeding up or canceling requires submitting additional transactions, so costs more in fees. Avoid stuck transactions when possible by using proper gas settings.
Using alternative networks
Another option is switching from the Ethereum mainnet to a layer 2 network with lower fees. For example:
- Polygon offers transactions for fractions of a penny
- Optimism can process transactions for $1-2 on average
MetaMask makes it easy to add and switch between networks. You’ll just need to get funds on whichever network you want to use. Mainnet ETH doesn’t carry over.
Conclusion
Unreasonable gas fees on Ethereum have turned off many potential users. With techniques like lowering the gas price, using MetaMask’s built-in estimators, and switching networks, you can reduce your ETH gas fees significantly. While we wait for long-term solutions like sharding and Proof of Stake consensus, being smart about gas settings provides some relief. Use the tips in this guide to keep more of your hard-earned ETH and pay less in fees on MetaMask.
Frequently Asked Questions
What are Ethereum gas fees?
Ethereum gas fees refer to the amount you pay to execute transactions on the Ethereum blockchain. They are denominated in ETH and paid to miners for the computational resources required to process and validate transactions.
Why are Ethereum gas fees so high right now?
Ethereum gas fees are high due to significant congestion on the network. More users and applications are competing for limited transaction throughput. As demand increases, gas prices rise in order to incentivize miners to prioritize transactions with higher fees.
How is the gas fee calculated in MetaMask?
The total gas fee in MetaMask is calculated by gas price * gas limit. The gas price is in GWEI, a denomination of ETH (1 GWEI = 0.000000001 ETH). The gas limit sets the maximum amount of gas for the transaction. By default MetaMask estimates both, but you can override them.
What happens if I set the MetaMask gas price too low?
If you set the gas price in MetaMask lower than the current network minimum, your transaction is likely to get “stuck” pending for a long time. Miners will ignore it in favor of transactions with adequately high gas prices.
Can I change the gas fees after initiating a transaction in MetaMask?
Yes, before you confirm and submit the transaction, you can click the settings icon next to the gas fee amount to customize the gas price and gas limit. This allows you to adjust the fees as needed.
What’s the best way to avoid high gas fees on MetaMask?
The best ways to avoid high Ethereum gas fees on MetaMask are:
- Set a low gas price during off-peak hours.
- Reduce the gas limit of your transaction if possible.
- Use a Layer 2 network like Polygon or Optimism.
- Wait to transact during less busy times.
Proper gas settings and avoiding peak times can significantly reduce your MetaMask gas costs.
Gas Settings Cheat Sheet
Use this cheat sheet of optimal gas settings for different scenarios when using MetaMask:
| Scenario | Gas Price | Gas Limit |
|---|---|---|
| Sending ETH | 50 GWEI or lower | 21,000 |
| Interacting with simple contracts | 50 GWEI or lower | 100,000 |
| Complex contracts like DeFi | 60+ GWEI | 200,000+ |
| During high congestion | 100+ GWEI | Default |
| Stuck / pending transaction | Resubmit at | Default |
Use these estimates as a starting point but adjust as needed based on current network conditions.
Conclusion
Excessive ETH gas fees don’t have to be the norm when using MetaMask and Ethereum. With smart contract interactions, it pays to optimize your gas settings. Follow this guide to leverage MetaMask’s built-in tools and features to lower your gas fees. Keep an eye on the network congestion and adjust gas prices and limits accordingly. With some diligence, you can save significantly on fees and enjoy the full capabilities of decentralized apps.