January 27, 2021
The Best Time To Transfer Ethereum
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The Best Time To Transfer Ethereum

Anyone who deal with Ethereum network, definitely has a frustrating experience due to gas fees. As a result, many users are complaining about this issue. In this article we are going to find out the best time to transfer Ethereum.

Although Ethereum is trying to fix the issue using layer-two-scaling solutions and sharding, users also can use tricks in order to save money on gas fees.

 

The most congested time of Ethereum network

The easiest solution is to avoid making transactions at certain times during the day. Statistics from Flipside Crypto shows that Ethereum blockchain is congested at certain times, which users can avoid them to pay less gas fee.

Ethereum transaction fee
Average Ethereum Hourly Fees

In the figure above the bars show the average hourly fee and dots represent outliners. According to this chart, Ethereum blockchain is congested from 1 PM to 6 PM UTC, which very close to the U.S. trading session. Therefore, there is no wonder because at this time all the Europe and U.S are all at work. Consequently, the best decision is to avoid U.S. and Europe trading hours.

The Best Time To Transfer Ethereum; Less busy hours of the network

On the other hand, the least busy hours are between 9 PM and 11 PM UTC. The main reason is that the U.S. working hours are going to finish, Europe is late night and in Asia is just early morning. Therefore, one can send a transaction between these hours and choose less gas fee without being worry about getting rejected. However, this trick works for token transactions, not certain DeFi protocols.

Using Chi Gas Token

Another trick to decrease transaction fee is to use Chi Gas Token. This token acts as a discount storage mechanism. In order to use this token, users have to mint Chi tokens when the gas is cheap and then use it when the fee is increased. Users also can buy Chi tokens the same as any other tokens.

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