Where to buy Digibyte?

Cryptocurrency enthusiasts looking to purchase DigiByte (DGB) have a range of options available, depending on the country they are located in and the payment methods they prefer. In this article, we take a look at all the different ways you can buy DGB, from using fiat currencies such as Euros or US Dollars to swapping other cryptocurrencies for DGB. We’ll also discuss what fees you can expect when buying DGB and how long it will typically take for your purchase to process.

What is DigiByte?

DigiByte is an open-source cryptocurrency that was founded in 2014 with the aim of becoming faster and more secure than Bitcoin by offering features such as improved difficulty adjustment algorithms, advanced scripting capabilities, and multi-algorithm support. Like other cryptocurrencies, it operates on a decentralized network called the blockchain, which is secured by miners who use their computing power to verify transactions and add new blocks to the chain.

Fiat Currencies

If you’re looking to buy DigiByte with fiat currency, one of the most popular exchanges is Coinbase. Coinbase allows users to buy cryptocurrency with Euro or US Dollar payments via bank transfer or credit/debit card purchases. Buying on Coinbase also offers an added layer of security as your funds are FDIC insured up to $250,000. Other reputable exchanges that accept fiat currency payments include Binance, Kraken and ChangeHero.

Cryptocurrencies

One of the quickest ways to purchase DigiByte is by swapping another cryptocurrency for it. Popular exchanges like Binance offer hundreds of trading pairs for different coins so you can easily exchange Bitcoin for DGB or Ethereum for DGB if that’s what you prefer. To do this, just select the trading pair you want (e.g., BTC-D GB) then enter how much cryptocurrency you want to trade in exchange for your desired amount of DigiByte tokens.

Fees & Processing Times

Depending on which exchange you use and how you pay for your purchase (fiat currency or cryptocurrency), fees may vary slightly but generally range from 0-1% per transaction. As far as processing times go, purchasing with fiat currency usually takes around 1-3 days while exchanging one crypto token for another typically takes anywhere between 15 minutes and an hour after being confirmed by miners on both networks. It’s important that users always check current network conditions before making any trades as cryptocurrencies can be subject to fluctuations in price and network congestion due to high demand during peak times can cause delays in processing timeframes as well as fees being higher than usual.

In conclusion, there are a variety of ways one can purchase DigiByte depending on their preference when it comes payment types and processing timescales; from exchanging other crypto tokens for DGB almost instantly on popular exchanges such as Binance or swapping Euro/USD payments via bank transfer/credit/debit card purchases with services like Coinbase which offers an additional layer of security through FDIC insurance up $250K worth of funds stored within them- no matter what option you choose there are advantages and disadvantages associated so just be sure do your own research beforehand!

What Is a Crypto Wallet?

To invest in Bitcoin or other digital currencies, you first need a cryptocurrency wallet to store your assets. You have the option of “cold” wallets stored on devices not connected to the internet, and “hot” wallets that are kept on your computer or phone.

Crypto wallets store the information you need to verify your ownership of digital assets. This includes your public and private keys, which are like a crypto world username and password that can authorize transactions.

Do you need your own crypto wallet?

 

Some investors opt to manage their own digital wallets, but many platforms offer custodial storage options as well. With custodial storage, the platform will store your assets in a wallet they maintain. Some of these crypto storage options pay interest or rewards on assets kept on their platform.

Non-custodial wallets might be more beneficial for experienced users because you have control over your login credentials. With custodial wallets, recovery methods are in place in case you happen to lose access to your account.

On the contrary, crypto exchanges face their own security dangers. They’re often attractive to hackers because of the worth they hold.

How do crypto wallets work?

A crypto “wallet” isn’t a wallet in the traditional sense; instead of holding cash and cards, it stores the data that allows users to view and access funds that move through a blockchain. Every wallet has a private and public key, cryptographically generated strings of letters and numbers.

Key components of a wallet include:

A public key is used to send cryptocurrency funds to a wallet and can be seen by anyone on the blockchain.

The private key is a code known only to you that verifies your transactions. Wallets store this key in their software, so you don’t have to enter it manually each time.

A set of 12-24 words that can help you regain access to your wallet in case you lose it.

You may need a password to open your wallet, similar to the password you would use for any other type of computer service, such as an email client.

Hot and cold wallets store your crypto information differently.

If you want to send cryptocurrency from one digital wallet to another, you will first need to enter the other person’s public key into your wallet. After that, simply press “send.” Your wallet will automatically “sign” the transaction using your private key.

Please make sure you enter the public key of the person you’re sending money to correctly; if not, those funds cannot be recovered.

Hot wallets

Hot wallets are software programs on internet-connected devices that not only store Bitcoin or cryptocurrency, but can also connect to blockchain applications.

While hot wallets are easier to access than cold wallets, they might not be as secure since hackers have a better chance of breaching them.

Custodial hot wallets

For those who are starting out or prefer not to be invasive in the management of their wallets, custodial wallets that are managed by software providers offer a great solution. These types of users can store their funds directly onto an exchange where transactions such as buying and selling can take place. Some exchanges that have received high ratings from NerdWallet include Gemini, Crypto.com and Coinbase.

Non-custodial hot wallets

Online wallets that are controlled by the wallet’s owner make it easier to conduct transactions but users must be responsible for their own keys. Some online wallets offer extra services, like trading or staking, in exchange for fees. MetaMask, TrustWallet and Exodus are three of the most popular hot wallets; each one has a mobile app counterpart for ease of use.

Cold wallets

Cold wallets are hardware-based storage options that keep your private keys offline. While a piece of paper with your key written on it technically qualifies as a cold wallet, the term typically refers to special devices that plug into USB ports.

Although it may be tempting to store your keys in an old-fashioned way, hardware wallets use technology that makes accessing, moving, and backing up your crypto assets much easier. Cold wallets can’t be accessed online; however, they are significantly more secure since they require security measures such as a safe to keep them from getting damaged, lost or stolen.

Some of the most popular hardware wallets that are available on the market today include Safepal, Trezor and Ledger devices; these can be purchased online or directly from companies. The prices for these products range from as low as $49.99 to upwards of $255.

For both security and convenience, you can use two types of wallets: an online wallet for easy-access funds to trade and earn interest, and an offline wallet for more significant investments that you want to keep safe.

Conclusion

  1. To buy, sell or trade Bitcoin and other cryptocurrencies, you need a crypto wallet to store your digital cash. Your choices include “cold” wallets on devices that are not connected to the internet and “hot” wallets kept on your computer or phone.
  2. Crypto wallets safeguard the information you need to show proof of your funds. They store your public and private keys, the crypto world’s version of a username and password that can authorize transactions.
  3. Not every investor needs their own wallet – many platforms offer “custodial wallets,” in which they will store digital assets in a secure location. Some of these storage options pay crypto interest or rewards on assets kept on their platform..
  4. Custodial wallets can be helpful for beginners because they provide recovery methods in case you lose your login credentials; however non-custodial investors are at risk if they forget login information or get hacked.. Exchanges have their own security risks as well – they can be enticing targets for hackers because of the amount of value held within them..

How much cryptocurrencies to buy for investment

Whether it is worth investing in cryptocurrency today is decided by everyone for themselves, but this is one of the popular directions. It is important to study all the nuances before investing in the crypt. Many people are interested in how much crypto should I buy, but this moment depends on what goal you want to get from your investment. If you just want to invest well, you should pay attention to a number of points. It is important to choose the exchange where to buy digibyte and where you will make the purchase to determine what goal you want to get. If this is a long-term investment, then various factors play a role here, besides, you should choose the currency that has already proven itself as reliable and profitable.

The peculiarity of buying cryptocurrencies

There are a lot of options for buying currency, but exactly how much you need it, you can only decide on your own. The total market capitalization of cryptocurrencies has recently exceeded the limits of two trillion. Many large companies invest huge amounts in cryptocurrency, for example, Tesla made a big splash when it imposed one and half $ 1000000000 on cryptocurrency. Also, some payment servers invest billions of dollars in bitcoin.

Interest from large entrepreneurs leads the currency to a significant price increase. You should understand how confident you are about which currency you choose, so you can determine how much you need to buy it. Today is very favorable for investing in cryptocurrency, but before choosing, you should rely on your personal knowledge, conduct research, read various reviews. For example, you can always conduct your own research, you can observe how the market is moving, technologies are developing, you can assess your own risk profile.

You should understand that choosing an exchange is a crucial moment, it is important to take into account a number of features. The exchange ChangeHero.io offers completely transparent conditions, guarantees excellent fast transactions.

How to make a profitable investment

You should always monitor the long-term performance of assets while not exceeding any points. First of all, the amount of currency depends on how much you know what is happening in the market, how much you can track every movement. For example, if you read daily reports, you will find out what state the crypto market is in, you will know which way to move. There are a lot of risks for currencies, it is important to find out which moments are the riskiest. Different coins and tokens have different technology, different use cases. Different assets react differently to trends in the economy as a whole.

Bitcoin is a good means of protection against inflation, statistics explain and predict the price of assets. You should also take into account the indicators of past assets, although they are not something that guarantees you income in the future.

In any case, you should be guided by a number of factors before making your choice, you should always remember that cryptocurrency is very volatile. If your distribution is too large, then it will be quite difficult for you to cope with price fluctuations. Cryptocurrency should be monitored around the clock, it does not take a day off. If you need to overcome stress, volatility, then you should organize recurring purchases. In any case, you should rely on your own experience or enlist the support of specialists in this field. It is important which currency you choose, how ready you are for the risks they all pose.

Cryptocurrency risks

Among the risks of cryptocurrencies, first of all:

  • malicious software is singled out;
  • hacker attacks;
  • loss of a digital key;
  • termination of the exchange;
  • lack of a refund guarantee;
  • high volatility;
  • low liquidity;
  • reduced mining profitability and other factors.

Software plays a huge role, it is necessary to evaluate them significantly before investing in cryptocurrency. These problems are always relevant for each type of currency. The main methods of scammers:

  • viruses;
  • ransomware;
  • Trojan programs;
  • link substitution;
  • luring out confidential information;
  • hacker attack.

Security also plays a big problem because bitcoin accounts are often attacked by intruders, they are hacked regularly. Thousands of bitcoins were lost after such a hacker attack, despite the fact that the cryptocurrency was able to restore its capabilities, and this moment did a lot of harm.

Legal problems arise due to the fact that there is no investor insurance, the cryptocurrency is not legally protected, that is, even some exchange platforms that are virtual banks. They can provide you with full protection.

Bitcoin has no owner, if your funds were stolen from a digital wallet, then you will not be able to confirm your ownership of these assets. The fact is that most currencies are completely anonymous, and such a high level of anonymity is a problem on the other hand. Sometimes it’s a plus, so you don’t register yourself as the owner, you don’t pay taxes, no one knows how much you bought. You provide yourself with complete confidentiality in case of any legal problems. On the other hand, you will not be able to confirm your identity.

One of the problems is also the bankruptcy and closure of the exchange when there are a lot of currency exchanges today. The main reason for closure and bankruptcy is low profitability.

It is necessary to invest large sums in order to work out the infrastructure, make the exchange popular, so many raise commission fees, but in order to support the sites, larger amounts are needed.

 

Features of choosing a cryptocurrency

There is also a moment of lack of guarantees for damages. There are no guarantees, insurance, the risks always fall on the owner of crypto wallets. An investor who trades on the stock exchange sometimes loses huge sums as a result of a cyber attack on the stock exchange.

As for volatility, this is a big variability of the exchange rate. Cryptocurrencies can change the value by 5-10% in a day, because of such strong volatility, investing is a complex process. You will not be able to track exactly how much you invest and how much you will win.

Bitcoins can both fall and rise in one day. With the growth of liquidity, activity decreases. There are arbitrage platforms that will monitor the rise and fall of prices, but today this moment remains dangerous. As for the liquidity on the new exchanges, there is too low a level of supply and demand. All this affects the value of the asset. If trading is carried out on an unknown exchange, then various problems may arise. The transition to a platform with a large trading turnover always becomes profitable. Many people note that cryptocurrency mining is becoming less popular today, it is decreasing before it is released, the advantages of mining are not so obvious, the benefit remains only when mining a token of young projects. Young currencies also bring less profit to date, their conclusions should be significantly evaluated. Before investing in such a currency, it is important to decide how much they are, how much you are willing to invest in cryptocurrency. You should take into account a number of risks and only then decide how profitable it is for you.

Cryptocurrency education your financial advisor won’t give you

With Bitcoin and other cryptocurrencies regularly in the news, it can be tempting to feel like you’re missing out if you don’t invest. But it’s important to remember that crypto mining – like gold mining – takes a lot of energy without any guarantee of return. So while there may be finite availability of some coins, investing is still a risky proposition.

Peer-to-peer data and value transferral is facilitated by more than 12,000 cryptocurrencies as of March 2022.

According to a study done in 2022, 49% of adults surveyed said they were “beginners” when it came to understanding crypto. This leaves those who believe in the future of crypto-assets but don’t know how to invest in them feeling lost. A modern advisor familiar with the ins and outs of crypto can help clear up this confusing landscape.

 

Is investing in the stock market gambling?

Since the Dojima Rice Exchange opened in Japan in 1710, people have questioned whether futures trading is a smart investment. With many things to take into account and lots of helpful articles on the internet about cryptocurrencies, it can be difficult to know whether buying cryptocurrency is worth your time or money.

If you’re hoping to get crypto buy, hold, or sell recommendations from your financial advisor, you’ll likely be disappointed. While some investment advisors see potential in alternative assets that don’t move in conjunction with the S&P 500 Index, it’s still uncommon to find ones who are willing to suggest allocating a significant portion of your portfolio into cryptocurrencies. Below are the two primary reasons most wealth managers avoid them.

Many people avoid cryptocurrency because they view it as a fad, and there is currently little regulation surrounding it. Some fear that cryptocurrencies are being sold to unsuspecting customers without any clear guidance from regulatory bodies.

Please don’t think that just because there are many cryptocurrencies and they seem fun to obtain, that individual investors should jump in right away. It’s essential to understand how a new financial product works before investing any money into it; cryptocurrencies may be thrilling but gambling with your cryptocurrency investments is very risky.

Although an advisor may be highly knowledgeable about cryptocurrency, the advisor cannot provide any recommendations on whether to buy or sell digital currency. The advisor is not alone in this belief. Most advisors think this way because their job is to manage money and expectations, rather than selling transactions.

Some advisors choose to protect their clients from the noise of the market and steer them away from cryptocurrency scams. In 2021, crypto scammers stole an estimated $14 billion.

 

A Boston-based financial advisor points out that when their clients inquire about investing in cryptocurrency, it’s commonly because the client has heard of others making a lot of money doing so. The issue with this thought process, the advisor continues to explain, is that cryptocurrencies are incredibly unstable and investing in them at this moment would be tantamount to gambling.

Cryptocurrencies are more than just digital money; they’re based on blockchain technology, which is a distributed ledger. Bitcoin is the most well-known cryptocurrency because it was the first one to be published and has the highest market value.

While blockchain was first intended for payment processing, it can be used for much more. Examples include digital identity, tokenization of data, data management, and creating secure audit trails.

If we lived in an ideal world, you would be able to ask your financial advisor about investing in cryptocurrencies and which ones they recommend, as well as how many you should buy. However, most advisors do not consider them investable assets and cannot have an informed conversation about them.

If you’re looking for advice about investing in Bitcoin, Ethereum, or any other cryptocurrency, the less-than-5% rule is a good place to start. This guideline suggests that you shouldn’t put more than 5% of your portfolio into any high-risk category. However, at this point, you may have to get creative if you’re working with most financial advisors.

One does not need to purchase cryptocurrency in order to participate in the market. There are a number of ways to get involved, and some advisors prefer indirect approaches.

Some of the following alternatives might be undertaken by your financial advisor:

 

  •    Bitcoin-related stocks and companies with exposure to blockchain
  •    Bitcoin futures
  •    Cryptocurrency-focused hedge funds
  •    Crypto mining ETFs

 

It’s important to remember that, just like betting on a horse race, you should only invest as much money into cryptocurrencies as you can afford to lose. Even though crypto-assets come with a high level of risk, this doesn’t mean they’re necessarily gambling – some “real” assets are just as risky.

If cryptocurrencies do gain popularity among more mainstream investors, advisors who have yet to dip their toes in the water will need to play catch up.

Before you can investment in blockchain technology, you need to purchase a digital wallet to store your cryptocurrency. These wallets are necessary for security purposes.

Look for a cryptocurrency exchange that supports the trading of the currency you want to buy. A fantastic example is Coinbase, which is based in San Francisco and relatively well-known. This digital currency exchange permits you not only to buy but also sell products like Bitcoin, Ethereum, and other cryptocurrencies using your local fiat currency.

The opinion in this article may change as time goes on and we learn more about the crypto world. Coins are being created frequently, and blockchain- once a niche concept- is now getting attention from investors and government officials. More taxes will be put into place as people begin to understand how to tax cryptocurrency correctly. Advisors should really take the time to understand this asset class, but many are unwilling to do so or even recommend it themselves. However, there are some advisors out there that knowcrypto well enought o help you invest properly.

Ethereum’s new roadmap and upcoming updates

Concerns around Bitcoin’s energy use however unscientific have continued to draw environmentally conscious investors to the second biggest crypto on the Block which is of course Ethereum.

This is probably a part of why ETH rallied so hard last week.

Fidelity opening its doors to ETH likely contributed and they’re eyeing the crypto space more than ever.

You may also know that Fidelity’s move will inspire other asset managers to follow suit in offering ETH to clients.

Ironically enough Ethereum’s increasing on-chain censorship is likely also making it more appealing to institutional investors, that’s because having a cryptocurrency that is fully compliant AKA controllable is their desire.

Thankfully fighting against on-chain censorship is a part of Ethereum’s new roadmap as explained by Vitalik on Twitter: the Ethereum roadmap contains a new phase called “The Scourge”.

In Vitalik’s own words The Scourge will quote “ensure reliable and fair credibly neutral transaction inclusion”.

The Scourge will also address maximal extractable value or Mev issues on Ethereum to quickly recap the next stage.

In Ethereum’s roadmap is the surge which focuses on scalability AKA making Ethereum faster through the use of zero knowledge roll ups.

Once the surge is complete Ethereum should be able to process over 100 000 transactions per second.

Now the second stage was originally The Verge but it has been bumped down into third place with the scourge taking precedence now.

This makes sense given that on-chain censorship is a more urgent matter than data storage and node size optimization which is the focus of the Verge.

On that note I should point out that Ethereum’s updated roadmap doesn’t contain any dates.

In fact it suggests that all these Ethereum upgrades are being worked on in parallel to that end it contains a little progress bar for each individual milestone in every stage.

In any case The Verge will be followed by The Purge which involves further optimizing data storage and deleting any old or unused data on the Ethereum blockchain.

This is important because the Ethereum blockchain contains lots of dead smart contracts from its early days which bloat its size.

Finally we have the Splurge which includes all future improvements to Ethereum.

The roadmap notes upgrades to the Ethereum virtual machine, changes to the transaction fee, Burns of eip1559 and the introduction of verifiable delay functions as areas of focus of all ethereum’s upcoming stages.

The Scourge and The Purge are arguably the most important that’s because they are intertwined the former concerns the censorship of transactions and the latter concerns the storage of transactions which affects censorship especially in the longer term.

DeFi Lending Platform TrueFi Announces First Default on BUSD Loan

TrueFi announced the first default on its $3.4 million BUSD loan from Blockwater Associates today, vowing to take the matter to court.

On October 10, the decentralized finance (DeFi) lending platform TrueFi issued a notice of default to Blockwater Technologies for failing to make a scheduled payment on its $3.4 million BUSD loan. In the past week, the TrueFi credit group had been trying to reach an out-of-court settlement with Blockwater, which would have entailed increasing the borrowing rate and extending maturity.

However, they found that a court-supervised administrative proceeding could provide a more favorable outcome for stakeholders. This is TrueFi’s first and only declared credit default to date. The credit group said it remains vigilant and proactive in current macro conditions.

Many lending platforms have shut down this year because investors has been pulling their money out of cryptocurrency. In the second quarter, there were mass withdrawals which led to the collapse of companies such as Celsius Networks and Voyager Digital.

TrueFi noted that it would stay in talks with Blockwater Technologies’ associates. The goal is to obtain the most optimal outcome for lenders and stakeholders alike. As stated in the official announcement from TrueFi:

“Blockwater has completed 8 payments totalling $645,405 towards loan repayment. $2,967,458 remains due at the time of the default. The Blockwater default does not affect lenders in TrueFi’s USDC, TUSD, USDT stablecoin lending pools, nor any of TrueFi’s capital market portfolios.”

To date, TrueFi has originated $1.7 billion in unsecured loans and have so far collected full repayment on all 136 outstanding loans, amounting to $1.5 billion. In total, these Repayments have generated over $34 million in interest for the lenders.

The TrueFi group said that its loan book is holding up well and they have been actively working to renew loans. Furthermore, they also offer lenders certain protections against default under the TrueFi SAFU program. The TrueFiSAFU oversees a fund specifically set aside to help lenders who are affected by defaults.

Additionally, they offer a staked TRU slashing service “which could appropriate up to 10% of the staked TRU for the benefit of lenders who are affected by a default. This is all under the direction of the DAO.”

Singapore May Soon Ban Crypto Trading: Here’s What You Should Know

The Monetary Authority of Singapore (MAS) has announced plans to reduce crypto trading risks and support stablecoins through increased regulation.

The Monetary Authority of Singapore (MAS) published two consultation papers proposing regulatory frameworks to reduce investors’ risk in crypto trading and support stablecoins for transactions. The measures, which include consumer protection, business conduct rules, and technology risks Reduction are part of the Payment Services Act. Retail investors will not be able to use credit cards or borrow funds for buying cryptocurrencies under the proposed regulations

On October 26, The Monetary Authority of Singapore announced in a press release that they are considering methods to reduce risks for retail investors who trade cryptocurrencies. In addition, they would like to regulate the issuance stablecoins (a type of cryptocurrency) that are pegged to another currency.

Given that cryptocurrencies are integral to the digital asset landscape, the MAS has decided not to ban them. As a result, crypto trading providers like exchanges must make sure they engage in fair business practices and disclose risks adequately.

In order to mitigate risk, the crypto service providers must take measures such as prohibiting retail investors from using credit cards and leverage for crypto trading. They will also need to handle segregation of customers’ assets and complaints. As far as technology risks go, the MAS wants companies to maintain high availability and recoverability of critical systems.

MAS requires stablecoin issuers to publish a white paper which details subjects such as redemption rights. In addition, MAS will regulate stablecoins as a means of exchange in the digital asset domain ecosystem. Its objective is to broadened the regulatory Principles for stabilized coins so that there is an increase in value stability worldwide.

The MAS prefers well-regulated and securely backed stablecoins. Also, banks can issue stablecoins without having to increase their reserve backing or prudential requirements. The deadline for comments on the proposals is December 21st.

Ms Ho Hern Shin, Deputy Managing Director of the MAS, said:

“The two sets of proposed measures mark the next milestone in enhancing Singapore’s regulatory approach to foster an innovative and responsible digital asset ecosystem.”

The recent failure of many cryptocurrency companies based in Singapore has led to a more strict governmental stance on digital assets. The proposed regulations would also prevent users from staking or lending their cryptocurrencies to generate yield.

The recent string of crypto firm failures in Singapore, including Three Arrows Capital, Terraform Labs, Zipmex, Vauld, and Hodlnaut,, has prompted the introduction of a new regulatory framework. Coinbase and Blockchain.com are two firms that have recently received licenses to operate in Singapore.

What Are Gas Wars?

When different network participants race to include their transactions in the next block, it’s called a gas war. If you find yourself caught up in one of these wars sometime in the future, here’s how you can come out on top.

The blockchain space is frequently compared to the Californian Gold Rush, with prospectors battling it out for Fuel. These battles are what we like to call gas wars.

During a gas war, network participants compete to secure space in the next block by taking part in a “priority gas auction” or PGA. This involves paying more for gas than the average transaction fee in order to get better positioning in the next block. Oftentimes, the winners of a gas war might end up paying several times the average transaction fee.

Some might say, “Why spend more money on gas?” The answer is to ensure that the transaction is processed by the network quickly. This would be useful for taking advantage of an opportunity that won’t last long or participating in an event where it’s advantageous to be one of the first people there.

Usually, when there’s a “gas war,” it’s because people are vying for entry into something that has limited spots and is high in demand. For instance, this happens a lot during NFT drops or IDOs (initial DEX offerings). With so many people trying to get in on the action, they’re willing to pay extra gas fees to increase their chances of being one of the few who secures a spot.

Gas wars occur when people compete to gain an advantage, like limited access to slot investment opportunities or being the first to sell tokens in a declining market.

If you want to come out ahead in a gas war, the first thing you need to do is accept that you’re probably going to be in one. This means thinking about whether there will be a lot of people trying to get block space when you want to make your transaction.

If you want to avoid a gas war, use our events calendar to find out which days could have high demand for block space. This is especially useful for first-come-first-serve type events that are hosted on the Ethereum network.

If you want to win, be prepared to overspend on gas. Many Web3 wallets will let you change the amount you pay for gas, so take advantage of this feature. Research current prices using a service like ETH Gas Station (e.g., 50 gwei), then set your bid accordingly.

If you want to increase your chances of success, be prepared to overspend on gas. It’s not uncommon for people to spend more than 1,000 gwei per slot, and even then there’s no guarantee that everything will run smoothly. Between internet latency, node issues, wallet glitches and more, delays are always a possibility — which in turn lowers your chance of winning.

If you’re looking to avoid the “Out of Gas” error, consider increasing not only the amount paid for gas, but also raising your gas limit above what your Web3 wallet advises.

Oftentimes, people engage in gas wars with the understanding that the possible benefits exceed any negatives from a loss. Beforehand, some number crunching is needed to determine the maximum gas fee you’d be willing to pay for a slot–as it could cost hundreds of dollars in gas just to have a chance of winning.