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What is Gas Fees?

Crypto Terms Glossary: What is Gas Fees?

Gas fees are payments made by users to cover transaction or smart contract execution costs on the Ethereum blockchain network, in compensation for the computing energy that such executions require. Gas fees are generally priced in a small amount of the cryptocurrency ether (ETH). The sender of a transaction can decide if they want the transaction to be sent slowly or quickly. The faster the transaction is processed, the more gas fees it will require.

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