Gas Fees

What are gas fees?

Gas fees are the fees required to run a transaction or execute a contract on EVM blockchains.

What determines the amount of gas fees?

Gas fees are a combination of the following factors: base fee, gas limit, gas price, transaction complexity, and network congestion.

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During periods of high congestion, there may be a spike in gas fee costs.

How do we calculate gas fees?

The gas fees displayed to a user will reflect the estimated worst case scenario for gas fee costs. After a transaction has been successfully processed, Coinflow will then only charge the exact amount of gas that the transaction ends up costing.

How do I know how much I actually paid in gas fees for a transaction?

Depending on the customer’s bank, the customer will either see their original payment amount change after it is out of the “pending” state, or they will see a separate credit line item on their statement.

Why are ETH gas fees higher on Coinflow than what I see on Etherscan's gas tool?

Gas fees on Coinflow can appear higher due to additional overhead involved in processing transactions.

1. Base Transaction Cost:

This refers to the number of gas units a standard transaction for a wallet transacting with ETH.
2. Coinflow Overhead Cost:

This refers to the costs Coinflow adds for running our contract and swapping USDC to ETH.

3. Account Abstraction Cost:

This increase is due to account abstraction, which enables us to handle transactions at scale efficiently. As a result, estimated gas prices are typically 20-40% higher than simulated ones. For more information on estimating maximum gas fees, please refer to Blocknative's EIP-1559 Fee Guide.

4. Account Abstraction Provider Cost:

Our account abstraction provider adds a 10% markup on top of the gas fees.

Example Breakdown of Costs:

Note: These are only the gas limits- the actual gas will be lower than this. Customers are only charged for the actual gas consumed after the transaction is confirmed. The displayed price is just an estimate, and actual fees are often 20-40% lower. Coinflow does not profit from gas fees.