Hi Guys,
I’m trying to claim my fx reward and I keep getting the message that I have Insufficient Eth to cover the fees. I have about $10 of eth in my wallet and gas prices are low atm.
So is this a bug or are the fees for claiming high for some other reason?
And what would be the amount of eth I need then?
You’re going to need more then $10 worth of ETH, I would recommend at least $50-60 in your account to cover fees associated with claiming. If it doesn’t make financial sense for you to claim rewards twice, you may want to think about forgoing claiming. Also if you claimed on “slow” it might fail due to change in gas price. How Ethereum works is that node operators validate transactions and the more gas fee you pay as a “tip” to them, the faster they verify your transaction on the blockchain. That is how “gas” or the official name, Gwei, works. If you don’t pay enough gas, your transaction might fail or may take a long time
Thanks for the information. I have about 1.3 fx to claim and 24 fx to unlocked, so it probaby isn’t even worth it to get the 100% reward for me then.
No it doesn’t, I’m sorry man! Make sure to always DYOR and calculate the financial implications prior to making investment decisions. Once FX core is released, fees will be much much lower to do transactions on chain (xx cents instead of XX dollars) so hopefully that helps smaller investors a lot
You are right. Should have checked the staking period before hand, as I just starting staking for a couple of weeks.
@Akira et al, to find the best times each week for the cheapest average gas fees, check out the hourly graph here: https://ethereumprice.org/gas/
I timed it so I paid $20 in fees (@ 10 Gwei) to claim and $3.50 to unstake. (If ETH price goes up to $5000, then I imagine the prices would double at minimum but during peak hours would be significantly higher.)
Good luck!