Why is Ethereum Gas Fees so High?

Why is Ethereum Gas Fees so High?

The Ethereum network requires gas to execute transactions. When you send tokens, interact with a contract, send ETH, or do anything else on the blockchain, you must pay for that computation. That payment is calculated in gas, and gas is always paid in ETH.

You are paying for the computation, regardless of whether your transaction succeeds or fails. Even if it fails, the miners must validate and execute your transaction, which takes computational power. You must pay for that computation, just like you would pay for a successful transaction.

You can try to lower gas fees in your transaction settings. Please keep in mind that it would take longer for the transaction to process in case you select the lowest gas price. To estimate the price please check the Ether transaction calculator: https://ethgasstation.info/calculatorTxV.php You can also monitor gas prices daily as they fluctuate: https://ethgasstation.info/index.php