Three gas saving tips on ethereum

When the ethereum network gets congested (read: all of 2021), gas gets pricy. So, to help here are some ways you can save on gas (so you have more eth to ape into NFTs of course).

Tip 1: Set up gas price alerts

This is obvious, but it needs to be stated: the best way to save your eth is to perform transactions when the gas price is low. You can see the current gas price on etherscan.com/gastracker, but it's not practical to watch the gas all day,

Instead, set up alerts. https://ethgas.watch is a great website, that lets you set up email alerts. Just say enter a gas price and your email. When gas dips to your price, you'll get an email alert.

Tip 2: Replace transactions instead of cancelling them

This tip is more tactical and situational, but has the potential to save you lots on gas. It's when you have a pending transaction that you want to cancel. Cancelling a transaction can be costly, but there's a better way to do this.

\\Instead of cancelling your transaction on metamask, you can actually replace it on the blockchain - the idea here is to replace the transaction with one that uses less gas, and is therefore cheaper to execute.

Every transaction on the eth blockchain uses a specific amount of gas. The more complex the transaction, the more gas you use. An ETH transfer uses way less gas than a contract interaction, like purchasing from Opensea or swapping on Uniswap.

To do this, you need to first enable the "custom transaction nonce" in your metamask. You can do this under advanced settings

Then, when you have a pending transaction you want to replace, you'll find it's nonce on etherscan. It's found on the transaction page

Then, transfer yourself 0 eth on metamask. You'll get charged gas fee for an eth transfer. Before you submit, enter the nonce in the custom nonce field. If your pending transaction wasn't submitted, it will be dropped for this transaction, saving you ETH - because transferring ETH is cheaper than interacting with a smart contract

Tip 3: Use RPC flashbots to prevent gas lost in failed or reverted transactions

The last tip is my favourite. Essentially, you'll never lose anymore ETH on reverted or dropped transactions - Like what happens when you try to buy something on opensea and someone beats you to it, or an NFT mint with gas wars.

You can do this with RPC flashbots - I've made a short video that explains what they are and how to set it up for your metamask.

That's all for now! Use these three tips to minimize the amount of gas you're using on each transaction, and save your ETH. If you liked these tips, subscribe to my channel on YouTube, and follow me on Twitter for more web3 content

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