1. io.finnet Help Center
  2. Vault Management & Transactions

Gas fee customization

 

Available for all io.vault subscriptions.

 

Users have the flexibility to adjust their transaction fees based on their needs and preferences when using the io.vault platform. Specifically:

  • Low, Medium, High Options: Users can choose preset options for transaction fees, categorized as low, medium, or high. These presets offer a quick way to adjust fees based on typical transaction speeds and costs.
  • Custom Fees: Users can set their own transaction fees by manually adjusting the base fees and priority fees for Ethereum Virtual Machine (EVM) compatible blockchains, or by changing the sats (satoshis) per byte for Bitcoin transactions. This allows for more precise control over the cost and speed of their transactions.

Please note: remember that gas you pay is not charged or collected by io.finnet, and not something we can control.

To customize your gas fees, follow the steps below:

  1. To create your transaction, follow the steps here
  2. Under network fees, you can set your gas fee using one of the following options:

    • Low
    • Medium
    • High (default setting)
    • Custom
  3. Clicking on one of the four options allows you to choose your gas fee preference. These options determine the amount of gas you’re willing to pay and have the following implications:
    1. Low: Lower cost but may result in slower transaction times, especially during high network traffic
    2. Medium: Balanced option, offering moderate cost and processing speed
    3. High: Higher cost (the default setting) but ensures faster transaction processing, ideal for urgent transactions
    4. Custom: Allows you to manually set the gas price and gas limit according to your specific needs and preferences
  4. Once comfortable with your gas fee choice, you can review the request, and if you wish to proceed with the transfer, click "Submit Request". 

Please note

  •  Gas fees are usually set to High by default
  • Transactions with higher gas fees are typically processed faster
  • Selecting “Custom” or “Advanced” will allow you to directly customize gas parameters and choose your sats per byte
  • A link to mempool.space is available for you to visualize the Bitcoin mempool. This tool helps you understand network congestion and optimize your transaction fees for faster processing.