What You Need to Know About Gas Fees

What is gas? Gas is a transaction fee paid by users to compensate for the computing energy required to process and validate transactions on the Ethereum blockchain. There are two main components: Gas Price and Gas Limit. Gas Price – The price per unit of gas is denoted in small fractions of the cryptocurrency Ethereum, called GWEI. GWEI is equivalent to ETH in the way that a penny is equivalent to the dollar; it is the smallest denomination of the currency.  Gas Limit – Gas limit refers to the maximum…

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CoinPayments Integrates Gift Card Purchases Onto Platform

One of the ongoing narratives for cryptocurrencies is that there is no practical use for them in the retail sector, citing slow transaction confirmation times at checkout and price volatility risk for merchants as primary factors. While this may have held true during the early days of cryptocurrency adoption, many of these issues have been resolved with the creation of tokens with near-instant confirmation times, or tokens that are pegged 1:1 to fiat currencies. Nonetheless, the status quo still believe there is inherent risks in paying with and/or accepting cryptocurrencies…

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