[Ethereum] How to determine Gas Price and Gas Used


I have got 2 questions actually:

  1. How to determine the gas price? Metamask fills this in for me, but it is always too low when I click on submit.
    Basically all values on ETH Gas Station seem too low?
    How much Gas Limit to put in?

  2. I've gotten a transfer through using high values. but it failed nonetheless. It seems I now lost 0.0105 Ether ($13.66)?
    Is there a way to get this back? Is there a way to NOT make these mistake? It is truly a very high learning curve (and costly).

See: https://etherscan.io/tx/0x2d68ca04e623509c05713a8b80c857e49cc80d3a71aadebd0aca7eb2511c57cd

Thanks for any assistance.

Best Answer

I think you got something backwards... you set a gas limit of 42000, which was evidently insufficient. You should pretty much never adjust the gas limit, as it's very accurately determined ahead of time. MetaMask should be getting the gas limit right for you.

You also set a very high gas price: 250 gwei, when https://www.ethgasstation.info/ says 80 gwei should get your transaction processed within 2 minutes.

No, there's no way to get back the ether you paid for that transaction.

In the future, let MetaMask choose the gas limit, and set the gas price by checking https://www.ethgasstation.info/.


I should note that an out of gas error can also occur when something else goes wrong in the transaction. Some kinds of errors can cause all the gas to be consumed. (E.g. an assert in the code.)

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