The website https://ethgasstation.info/ contains a lot of information regarding the price of gas and this is confusing. My question is: what piece of information from the website should I use to determine the price of gas in my transaction?
they offer multiple gas prices and it all depends on how fast you want your transaction to be processed.
Safe low - This is a gas price that is intended to be both cheap and successful.
Average - This is the price accepted by top miners who account for at leat 50% of the blocks mined- safe and prompt. Usually reflects the wallet defaults.
Fastest - This is the lowest gas price that is accepted by all top miners (estimated over the last two days). Therefore, transactions with this gas price should be accepted by all the top pools. Paying more than this price is unlikely to increase transaction confirmation time under normal circumstances.
for more info : https://ethgasstation.info/gasrecs.php
It depends on how fast you need the transaction to execute.
See the block on the homepage with the price matrix?
From the new ETH Gas Station API documentation:
- slow aka safeLow is the lowest cost in gwei required to execute a transaction within 30 minutes.
- standard is the lowest cost in gwei required for transaction execution in <5 minutes
- fast is the lowest cost in gwei required for transaction execution in <2 minutes