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How can I know the approximate cost of a transaction and how can I modify it?



If we use MetaMask, for example, this platform will indicate the approximate cost that the transaction will have before accepting it, whether we are in the Ethereum network, Polygon or BNB Smart Chain, for example. 

In this way, if we are not convinced by the cost that the operation would have, we could look for another way or another time to perform it. For example, if our desire is to transfer a small amount of money, surely, it would not be wise to use the Ethereum network and it would be much more convenient to use the Polygon network.

In the following image, you can see that the approximate cost for the transaction that we would be doing in the Polygon network would have an estimated cost of 0.00068 MATIC, which is much less than a penny on the dollar.

 

 

 

As can be seen in the image itself, such a transaction would take about 30 seconds. 

By clicking on "EDIT", the following window would appear, where we could set new parameters:

 

 

 

In this case, by clicking on "High", we would be indicating that we want to give a higher priority to our transaction in the Polygon network, so the operation would be done faster and would imply a slight increase in cost. 

However, there are other more advanced options with which we could assign an even higher priority, increasing the cost even more.

In fact, by clicking on "Advanced options", the following specifications are displayed:

 

 

 

You can modify these specifications manually. Another option is, from the image we saw initially, to click on the prompt that says "Turn on enhanced gas fee UI in Settings". 

 

 

 

This box is in the foreground:


 

Clicking there and enabling that option will change the appearance of the window before completing the transaction.

 

 

In that window, you can see that the price set for that transaction is the market price. But by clicking on "Market", we can change the priority of the transaction, so its cost will be altered - if it is cheaper, it will take longer to complete:

 

 

And, by clicking on "Advanced", we could access the advanced options:

 

 

If you are just starting to trade cryptocurrencies and want to make a transaction on the Polygon network, you may not need to resort to the advanced options. But, if one day, you need to make a transaction very quickly or want to reduce the cost of an expensive transfer, it is good to know that these options are available.



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