What is Gwei?
The short answer
A tiny unit of ETH used to price gas fees — one gwei is one billionth of one ether.
Gas fees are quoted in gwei because ETH itself is too large a unit for pricing something as small as a transaction fee — similar to pricing something in cents rather than in units of a much larger currency.
Related terms
Full glossarySmart Contract
Self-executing code on a blockchain that automatically carries out an agreement without a company in the middle.
Consensus
The process by which a decentralised network agrees on which transactions are valid, without a central authority.
All-Time High (ATH)
The highest price a cryptocurrency has ever reached.
Pump and Dump
A scheme where a group artificially inflates a coin's price through hype, then sells at the peak, leaving…
Cold Wallet
A wallet whose keys are stored completely offline, disconnected from the internet — the most secure storage option.
FOMO (Fear of Missing Out)
The anxious urge to buy something because its price is rising fast and everyone seems to be talking…
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