Base fee Ethereum

The primary justification for high bitcoin excavator charges is organic market . The bitcoin block size is 1MB, which implies that excavators can just affirm 1MB worth of exchanges for each square (one like clockwork). So that is the reason the digger charges on ERC-20 are so high.

The total fee is calculated as: (Gas units (limit) x Gas price per unit) . In this example, that would equate to: 21,000 x 200 = 4,200,000 gwei or 0.0042 ETH.

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ERC-20 tokens utilize Ethereum addresses and transactions use the same Ethereum network as ETH. As such, outgoing ERC-20 withdrawal transactions also require gas fees to process transactions. The gas fees required are dynamically calculated based on prevailing Ethereum network activity (gas price * gas limit) .