Is there any way to reduce gas fees?

[Scarlett]

I paid a hefty amount of $100 to transfer Ethereum from Binance to my Ledger Nano S. For me, this amount is too much. Are there any tools that show these gas fee fluctuations? I would appreciate any assistance.

[Kaile]

You can't eliminate the full fee, but yes, you can reduce the gas fees through several strategies. Do the transaction during off-peak hours when network congestion is low, as fees tend to be cheaper then.

By using Layer-2 scaling solutions like Polygon or Arbitrum, which offer low transaction costs, you can reduce the gas fees.

Adjusting the gas price you're willing to pay can also help, but setting it too low might delay your transaction. Some wallets (Solana or Binance Smart Chain) also offer gas estimation tools to help you choose optimal fees.