Why transaction fails with "Out of Gas" Error(ERC20/BEP20)

Why transaction fails with "Out of Gas" Error (ERC20/BEP20)

 

This means that your ETH/ERC20 transaction ran out of the assigned Gas Limit when executing a Smart contract operation on the Ethereum Virtual Machine (EVM) (Usually "Send" for the user). This most commonly happens with ERC20 tokens as they consume much more gas than plain ETH.

 Out of Gas

In such cases use higher GAS LIMIT to allow more gas to be spent. The default limit for ERC20 token transactions in the Ellipal application is set to 150000, set it to 200000 or even higher if you encounter "Out of gas".

 

There is no way to predict the actual gas usage as it fluctuates wildly and is token/smart contract function dependant!

 

Note: This is just the "upper cap" you allow to be used (highest possible cost) to protect you against erroneous functions that could result in huge costs. The spent gas will not be returned to you if the transaction fails with "Out of gas"! This is the nature of ETH blockchain and has nothing to do with crypto wallets at all

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