I'm trying to buy a cripto kittie that costs 0.0035 ETH which is around 3.14 dollars. I'm using my ether wallet for the transaction and when I set up the Gas Limit I get the following error on Metamask:
Insufficient balance for transactionGas limit set dangerously high.
Approving this transaction is likely to fail.
I tried setting Gas Limit to 2100, 1, 2 ,3, 0.5 and I still get the same error.
I also don't understand where is the 303.04 dollars estimate coming from if the price of the Kittie is 0.0035 ETH. How to calculate Gas Limit I used ethgasstation.info and still I can get the Gas Limit to get this transaction to pass.
Best Answer
Your price per gas unit is set super high -- 41 Gwei, and the limit is 7,600,027 gas units. 41 * 7,600,027 = 311,601,107 Gwei, or 0.311601107 ETH (which estimates to about $300 USD right now).
You need to lower the price per gas unit and the gas limit. The error message basically says that the transaction will fail because you don't have enough money in the transaction to cover the theoretical max gas used (which is the approx 0.31 ETH figure).