I've been a firm HODLer believer since I got started with crypto (which is only a few months), but with the quick rise in BAT, I feel it's time for me to temporarily unload my holdings. This is my first time transferring an ERC-20 token to Gemini so I had to spend gas on the Ethereum network. A few takeaways:
- Gas is used to fuel all ERC-20 transfers
- You pay Gas in ETH, despite transferring ERC-20 tokens
- Gas prices fluctuate every single minute, so what you saw as "normal gas prices" when sending your transfer may change by the time it reaches the Ethereum network
- Failed transfers consume gas, but you still get to keep your ERC-20 (those don't leave your wallet)
Some helpful resources to find out how much gas to spend based on real world tracking: