bnb gas fees

This is a continuation article from our previous research on BNB gas fees.

Today, we continue to answer more FAQs on BNB gas fees.

How to Get $BNB for gas fees? 

To interact with chains, you usually need their native coin to pay gas fees. For instance, you need:

  • $ETH for Ethereum’s chain.
  • $AVAX for Avalanche’s C-chain.
  • $SOL for Solana’s chain.

Similarly, you will need $BNB to pay gas fees on BNB Chain. But, you could be asking: “How do I get $BNB to pay for these transactions?”. Let us answer that for you!

BNB Gas Fees Markets
Source: CoinGecko

To get $BNB for gas, you’ll need to head over to a crypto exchange. Above is a list of exchanges supporting $BNB. From this list, choose an exchange with trading pairs that have:

  • High exchange volume. This ensures you have good liquidity for trading.
  • Green Trust Score. This assures the safety of the exchange you’re using.
  • Low Spread. This ensures you pay an accurate price for your $BNB tokens.

From here, you can choose an exchange and swap your $USDT or other cryptos to exchange it for $BNB. Of course, our exchange of choice to get $BNB would be from Binance Global or Binance US. From these 2, choose Binance US if you’re residing in USA, and Binance Global if you’re not.

Once, you’re done swapping, you should be able to view your $BNB token balance. Then, withdraw your tokens onto your wallet. Be sure to choose the BEP20 network during withdrawal. For your information, BEP20 is the token standard for the BNB chain.

How to Get Free $BNB for Gas Fees?

Now, we’re hoping to get some free $BNB tokens as well! But as of today, there is no verified, safe way of getting free $BNB tokens for gas fees. For some other chains, usually, a faucet could be used. Today, there is no such faucet for $BNB tokens.

BNB Gas Fees Calculator

If you would like to know of ways to calculate your gas fees, fret not! It’s pretty easy with a handy calculator from Cryptoneur! Let’s use the BNB Chain as an example below.

BNB Gas Fees Cryptoneur 1
Source: Cryptoneur

Once you’re at the calculator, key in the following inputs:

  1. First, choose the native currency you want to view your gas fee costs in. Usually, you would use USD.
  2. Then, choose the transaction type you want to look at. For simplicity, we use “Standard Transfer” in our example.
  3. Lastly, choose the transaction speed you’ll be selecting for. Usually, we use “Standard”. Unless the chain is very slow, you could choose to pay more gas to speed up your transaction.
BNB Gas Fees Cryptoneur 2
Source: Cryptoneur

Voila! Scroll down further and you can view the result for BNB Chain! From the above, you can see it takes USD$0.0299 for gas to send a standard transfer at a standard speed.

BNB Gas Fees Today

Apart from using Cryptoneur’s calculator, you can also use BSCScan to view gas prices today. Below is a screenshot from their Gas Tracker:

BSCScan Gas Tracker
Source: BSC Scan

In the top left corner, you can view the gas prices in Gwei. Revisiting Gwei’s definition, 1 Gwei is the same as 0.000000001 BNB. So today, it usually takes 20 Gwei gas for standard transactions on BNB Chain.

Comparing $BNB and $ETH Gas Fees

In general, Ethereum’s gas fees are always higher than BNB Chain’s. To make an effective comparison, let’s head back to Cryptoneur’s calculator.

BNB Versus ETH Gas Fees
Source: https://www.cryptoneur.xyz/gas-fees-calculator

From here, you can see that for a standard transaction:

  • On Ethereum, it would cost USD$0.1427.
  • But on BNB Chain, it would cost USD$0.0299. That’s almost 5 times cheaper!

With the calculator above, you can also compare gas fees amongst many other chains. These chains include Optimism, Arbitrum, Avalanche and many others. This would definitely help you in monitoring your gas costs across multiple chains.

Conclusion

In conclusion, we’ve answered more of your questions on $BNB gas fees. We also provided some tools to you for checking, comparing, and calculating gas fees. We hope this will help you along your adventures on BNB Chain!

As of time of writing, the current price of the $BNB coin is $285.33. Over the last 30 days, it’s up by 8.1%. Over 1 year, it’s down 34.4%. The market cap is $46.6 billion. There’s a max supply of 165 million BNB and 163 million circulating.

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