A guide to Gas fees

Important Note: DEX functionality is currently disabled for UK customers. Read more about the changes [here].

As the Ethereum network is a decentralized blockchain with no singular entity or authority overseeing its operation, a mechanism is put in place to avoid the network from being congested or spammed with transactions and that is by charging senders of transactions with a small fee called gas fee with which is then used to reward miners who validate transactions in the network.

How do Gas fees work?

The Gas fee is deducted from the ETH balance of your account when attempting a transaction - not from the amount of ETH or PLU that you are sending. It is being deducted automatically, so you do not have to worry about forgetting to pay Gas.

Example:

If you’re trying to top up your Plutus Card with 5 PLU, the theoretical Gas fee for a transaction like that will be around 0.001 ETH. Therefore, the total amount of tokens you need for the transaction is 5 PLU and 0.001 ETH in your wallet to cover the transaction fee. If the ETH is in your wallet, you will receive 5 PLU on your Plutus Card while 0.001 ETH will get deducted from your wallet directly.

Note: Remember to always keep some ETH on your wallet to cover the gas fees - without it, you cannot make a transaction on the blockchain!

How much Gas will I pay?

If you would like to know the average cost of your transaction before going through with it, you can check current Gas prices using a Gas Tracker feature available on Etherscan.

Do I have to pay Gas when topping up my Plutus Card with PLU Rewards?

If you earned yourself some PLU Rewards that you would like to spend using our Card, you will not pay a Gas fee when topping up your Card directly.

However, if you decide to withdraw the Rewards to your wallet, you will need to pay Gas when converting PLU to your Card balance.