As Bitcoin reaches a new ATH, there’s renewed interest in all things crypto and Defi. Perhaps this will turn into a bull run all over again. This is probably a good opportunity to rebalance your portfolio.
With NFT sniping is still causing havoc over on the Ethereum network, saving money on transaction fees is difficult. Today we’ll go over a few tips to get the most out of your money
With all the Uniswap clones out there, it becomes impossible to know where the best price will come from. DEX aggregators like 1inch provide an interface to over 50 of them. The optimal price will be found and your transaction will be routed to take advantage of it using it’s pathfinding magic.
Instead of swapping your tokens with a pool in AMM like Uniswap, cowswap will swap your token with someone who coincidentally is also looking for what you have. This is called Coincidence of Wants (COW).
This typically costs less than AMM type DEXs when available. If CowSwap can’t match your order, it simply gets rerouted to Uniswap.
Layer 2 Solutions
The easiest way to avoid fees on the Ethereum blockchain is currently to just take your trades elsewhere. Layer 2 solutions like Polygon and BSC cost pennies to transact on. The bridges to these chains costs no money provided you have a significant amount of funds to bridge (~200 USD).
Your bridged assets retain their value, and you also have a lot more flexibility without worrying about crazy gas prices. If you ever want to move back to the Ethereum network, you just have to use the bridge again.