How much gas does an ERC20 transfer cost?

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Ethereum has numerous use cases, each with its own gas cost. One of the most basic transactions is a simple ETH transfer. This requires 21,000 gas units. When considering the approximate ETH cost at 20 gwei, this translates to 0.00042 ETH. This makes it a relatively inexpensive transaction, suitable for everyday use.

Another common Ethereum transaction is the transfer of C-20 tokens. This type of transaction requires between 45,000 and 65,000 gas units. The approximate ETH cost at 20 gwei ranges from 0.0009 to 0.0013 ETH. While slightly more expensive than a simple ETH transfer, it is still a cost-effective way to move tokens on the Ethereum network.

The gas costs associated with Ethereum transactions can vary depending on the complexity of the transaction and the current network congestion. During times of high network congestion, gas prices may increase, making transactions more expensive. It is essential for Ethereum users to stay informed about gas costs and network congestion to make informed decisions about their transactions.

Smart contract interactions on Ethereum can be more complex and require significantly more gas. These transactions often demand 100,000 gas units or more. The approximate ETH cost at 20 gwei for such interactions is 0.002 ETH or higher. This highlights the importance of considering gas costs when designing and deploying smart contracts on Ethereum.