Everything you need to know about setting Ethereum and ERC20 custom transaction fees inside of Exodus.
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In this article:
What are custom Ethereum and ERC20 fees?
When you send Ethereum (ETH) or an ERC20 token, you pay a network fee (also called gas) to have your transaction processed by validators. By default, Exodus sets a recommended gas fee to balance speed and cost.
This fee is paid in ETH.
Custom fees let you adjust Ethereum gas fees, giving you more control over how quickly your transaction is confirmed.
Setting a higher fee increases the chance your transaction will be included in the next block. Setting a lower fee can reduce costs, but may delay confirmation or leave the transaction pending.
You can set custom Ethereum and ERC20 fees in Exodus Mobile, Desktop, or Web3 Wallet.
How do I set custom Ethereum network fees?
Note that the custom fee you choose is the maximum fee that you might pay. In many cases, the gas for your transaction will cost less, and any extra ETH will be returned to your wallet.
See the following step-by-step instructions on setting a custom fee for your ETH or ERC20 transaction:
Mobile
In Exodus Mobile, navigate to your Ethereum (ETH) or ERC20 token wallet, then tap the Send icon.
Tap on the menu in the top right corner.
Next:
a) Slide the slider to the left to pay a lower fee. Transactions with low fees will have lower priority and could get stuck if the fees are too low.
b) Slide the slider to the right to pay a higher fee. Transactions with high fees will have a higher priority, making it more likely that the validators will include it in the next batch of transactions they process.
c) Tap on the fee rate to input a custom fee manually.
Finally, tap Confirm.
Desktop
In Exodus Desktop, navigate to your Ethereum (ETH) or ERC20 token wallet, then click Send.
Click Show Advanced in the top left corner to enable the advanced sending options.
Next:
a) Slide the slider to the left to pay a lower fee. Transactions with low fees will have lower priority and could get stuck if the fees are too low.
b) Slide the slider to the right to pay a higher fee. Transactions with high fees will have a higher priority, making it more likely that the validators will include it in the next batch of transactions they process.
c) Click the pencil icon to input a custom fee manually.
Web3 Wallet
In Exodus Web3, navigate to your Ethereum (ETH) or ERC20 token wallet, then click Send.
a) Paste in the address you want to send the funds to, then enter the amount to send. To set a custom fee, b) click on the arrow next to Estimated Network Fee.
a) Use the slider to set your custom fee, then b) click Confirm.
A transaction with low fees will have lower priority and could get stuck if the fees are too low.
Transactions with high fees will have a higher priority, making it more likely that the validators will include it in the next batch of transactions they process.
After you have set your custom fee, you can send your transaction. For more information about how to send crypto, visit: How do I send crypto on Web3 Wallet?
What should I do if my transaction gets stuck with a low fee?
If you set your custom fee too low or there is a sudden spike in network fees, your transaction might get stuck pending.
In this case, you might be able to accelerate the transaction by resubmitting it with a higher fee.
Accelerating an Ethereum or ERC20 transaction is only possible if the original transaction was sent with a custom fee and you have enough ETH in your wallet to cover the higher fee.
To learn more about accelerating an Ethereum and ERC20 transaction, visit: How do I accelerate a stuck Ethereum or ERC20 token transaction?
Can I set a custom fee when swapping?
Custom fees are not supported when using Exodus Swap.
When you swap, Exodus automatically sets the transaction fees based on current network conditions. This helps prevent the transaction to the third-party swap API provider from getting stuck due to low fees.
Increased network activity can lead to higher network transaction fees as senders compete to have their transactions processed. To learn more about why this can happen, visit: Why are transaction fees so high sometimes?
If the fees are high, consider waiting until network activity and fees decrease before continuing with your swap.
a) You can check the network transaction fees before swapping. When swapping from ETH or ERC20 tokens, b) you may see a warning if the network fees are $30 or higher.
