Gas Limit and Gas Price
Adam at Digitex
When you send your payment of Ether (ETH) to our token sale smart contract on the Ethereum blockchain, you will need to set a price that you are willing to pay the miners to confirm your payment on the blockchain. This transaction fee is calculated using something called gas.
To send an ETH transaction you set the gas limit and you set the gas price from within your Ethereum wallet. This determines how much you spend on your transaction, and the amount you pay determines how quickly your transaction is confirmed and put on the blockchain. The more you are willing to pay, the faster your transaction is picked up by miners.
To buy DGTX tokens we recommend the following gas parameters when sending your ETH to our smart contract:
Gas Limit: 200,000
(actual gas consumption will be about 60,000)
Gas Price: 52 Gwei
The above settings will make sure your payment gets confirmed on the blockchain in about 30 seconds, incurring a cost of about $4 in transaction fees. This fee is paid to the miners on the Ethereum blockchain, it is not paid to Digitex.
If you want to reduce the cost of your transaction to $1.60 you can reduce the Gas Price down to 21 Gwei, but your transaction will take around 6 minutes to confirm.
If you are willing to wait 25 minutes for your transaction to be confirmed you can reduce your Gas Price down to 8 Gwei and pay only $0.60 in transaction fees.
During the ICO it is possible that many people will be trying to buy DGTX tokens as quickly as possible. This is why we recommend that you pay the higher Gas Price of 52 Gwei to ensure that your payment is picked up quickly by the miners.
Adam at Digitex
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