Immediately after Cub Defi and the launch of Leo tokens there was a snowball of information that I got on liquidity pools, farming and staking tokens, and finally some ideas on how to grow and expand my crypto. I don't even have much time to dive into it all now, it still has me like
As crypto moves at rapid speed and i fomo into one project after the other, i forget how important and detrimental it is to have a solid foundation and learn the basics to blockchain in order to not make silly mistakes with your crypto,
For example/ for the longest time I wasn't really sure, definitely wasn't confident in reading gas prices. At one point I was losing most of my assets and tokens after trying to make withdraws and wasn't sure why.
Gas is the unit of measure for how much computational work is required to process transactions and smart contracts in the Ethereum Virtual Machine. More complex smart contracts, and code, will require more gas to execute
Gas limit is the maximum amount of gas you are willing to spend. In MetaMask, when you are sending ETH/transactions, you will be required to specify gas limit and gas price
You are paying for the computation, regardless of whether if your transaction succeeds or fails. Even if it fails, miners must take gas.
Here's a cool tool to calculate your gas at the
Eth Gas Station: https://ethgasstation.info/calculatorTxV.php
and Please note this is not a fee that Metamask receives so they cannot refund it. This fee is paid to miners for mining the transaction.
I hope this helps someone who's also new to block skip over my little speedbump and keep farming! xx