Gas Fee Of BNB Is Increasing - page 10.

jaberwock

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Quote from: Rana590 on August 27, 2021, 02:18:46 PM

All eyes are on the BNB due to the increase in Ethereum's gas fee. Thinking about the beginning, it can be understood that the BNB's gas free is increasing day by day. Although I don't know the exact reason behind it, the curiosity is there.

The weird thing about the binance fee situation is the fact that Binance could arrange it in a way to make it nearly free, as cheap as tron. They are a centralized currency and they control all the validators and they are taking all the fees that you are paying, this is not some GPU stuff that makes everyone who work to earn money, it is a centralized situation that only binance earns and nobody else.

So, what they can do is add like 210 more people or something, or add 189 people to make it 210 total, whatever it is. That way with more and more power, they could make it go down like crazy and it could be nearly cheap level, if we are at this level with 21, then with 210 we are going to be awesome, and with 2100 it will be nearly zero for sure. So the only reason why we are even paying for free is the fact that Binance decided to charge us for it and nothing more.

erep

hero member

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Trading through pancakes is urgently needed as an alternative to the volatility of ERC-20 gas fees, although not all tokens have BSC contracts, they must find another solution to sell ERC-20 on exchanges to save gas fee from transactions.

carlfebz2

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Quote from: Rana590 on August 27, 2021, 02:18:46 PM

All eyes are on the BNB due to the increase in Ethereum's gas fee. Thinking about the beginning, it can be understood that the BNB's gas free is increasing day by day. Although I don't know the exact reason behind it, the curiosity is there.

I dont see for it to have significant increase, there might be some changes but it is really just too slight on where people wouldnt really mind that much which is way far more lesser on current ecr20 or eth fees.

If you do saw that BNB fees are way too much for you then you can deal off with other altcoins in the market but as far as i can say that it is one of the cheapest currently in the market so i dont have any complaints
with this.

Also if there would be some changes then it wouldnt really be that much of an issue for most people.

Mr.Noda

member

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Most likely, gas charges will be cyclical like Ethereum. I am very glad that at least the commissions are not horse-drawn in comparison with the Ether /

Olayinka2225

jr. member

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I think it's going to follow suite with eth, as the price of bnb increases, I think the transaction fee will follow suite. Though it's been long I perform a transaction on the bsc network to confirm what you're saying

ZaraCB

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www.cd3d.app

Quote from: bamb on September 05, 2021, 12:57:10 PM

If projects keep using bsc, the gas will continue to increase. But we are still not there yet!

Most projects want to use a network where transaction fees are lowest. And that is why most of the projects are now using BSC network. And is this why the transaction fee of BSC network is increasing? However, I am not worried because if the transaction fee of BSC network increases a lot, then of course another network will be created where the fee will be less.

bamb

sr. member

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Binance smart chain is experiencing what ethereum network have experienced leading to insane gas fee we have today! The fee on bsc however is still very low compare to what is been paid on ethereum. If projects keep using bsc, the gas will continue to increase. But we are still not there yet!

Kunnu

member

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Yes I also noticed the increase in gas fee I think it's happening because the transactions volume on bsc are increasing rapidly so the gas fee will definitely effective although we should not be worried about it because I think the developers of bsc will have effective solutions if anything goes out of control in future.

ali1177

jr. member

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The reason behind fee increasing is adoption more and more project are coming on binance smart chain so in that case people are using it so that's why fee is increasing exponentially.

zulfi125

full member

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Actually, Gas fees are related to the transactions load on the network and if more users using ETH or BSC network then priority will be for those who pay more gas fees and that's why gas fees are increasing but the BSC chain gas fee is very low almost $.0.12 or less per transaction and I think this is good fees to using BSC chain.

Mamun74

full member

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Currently BNB network transaction gas fee is increasing.Few month ago BSC network transaction fee was too but now its very increasing. But BSC gas fee too low than ETH gas fee.Many people now Trade on BSC Network.I think BNB gas fee will not increase in future.

crzy

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Quote from: Bazlur on September 05, 2021, 09:44:34 AM

Quote from: Rana590 on August 27, 2021, 02:18:46 PM

All eyes are on the BNB due to the increase in Ethereum's gas fee. Thinking about the beginning, it can be understood that the BNB's gas free is increasing day by day. Although I don't know the exact reason behind it, the curiosity is there.

I myself have noticed that the transaction fee of BSC network is increasing day by day. However, even if the transaction fee increases, it is still tolerable. Because every transaction on ETH network costs about $10-15. The transaction fee of BSC network is much less than that.

How I wish I can send $10 - $15 for ETH fees, because I've been spending for almost $55 just to proceed my transactions on Metamask. Anyway, the fees increase on BSC Network is still cheap, BNB network still cheap compare to ETH these two are great network with a great project, even if the fees is expensive if you think you are investing on a good project, you can get it back. Fees increases because of the traffic on the network, I guess it happens on every network.

Bazlur

member

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Quote from: Rana590 on August 27, 2021, 02:18:46 PM

All eyes are on the BNB due to the increase in Ethereum's gas fee. Thinking about the beginning, it can be understood that the BNB's gas free is increasing day by day. Although I don't know the exact reason behind it, the curiosity is there.

I myself have noticed that the transaction fee of BSC network is increasing day by day. However, even if the transaction fee increases, it is still tolerable. Because every transaction on ETH network costs about $10-15. The transaction fee of BSC network is much less than that.

airdata

hero member

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Due to the high gas fees maximum people choices Binance smartchain Network for fund sending/receiving becouse everybody knows that It's transaction fees is very low and fast than Etherium network. Now maximum people use this system and it is the another reason for increasing gas fees.

wissy

full member

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We have seen a huge increase of projects being built on BSC network, its not hard to predict how things will turn out in the next few years if Binance wont get bust from all the regulatory problems they have lately. And if eventually fees will be as high as on ETH chain, then i am sure there will be another blockchain who will take up this opportunity and filled the gap.

Rana590

sr. member

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Quote from: H1N1 on September 04, 2021, 10:22:31 AM

Quote from: Hasan986 on September 03, 2021, 07:14:59 PM

It is very sad. Currently, many traders have opted for Bep20 due to low fees. Lately I have seen that the fee has increased a lot. Above about 1$. Which used to be 8-15 cents. There are many small traders who are facing losses in this. Maximum low capital trader does not swap on Erc20. If Bep20 increases in the future, maybe they will move away from Bep20.

At least BNB gas fee is still far lower than ETH gas fee. The rising price of gas fee in BNB is because the BNB coin price is rising.
The BNB gas fee is not too high, which is only around 5-10 GWEI per transaction, see here : https://bscscan.com/gastracker
Small traders should not using DEX because the swap fee is higher than the trading fee in CEX.

I'm not telling that fees of BNB isn't lower than the fees of ETH. But isn't it possible to almost fixed the gas fees? Transactions will be increasing day by day but we need to smart solution to reduce or stable the gas fees.

H1N1

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Quote from: Hasan986 on September 03, 2021, 07:14:59 PM

It is very sad. Currently, many traders have opted for Bep20 due to low fees. Lately I have seen that the fee has increased a lot. Above about 1$. Which used to be 8-15 cents. There are many small traders who are facing losses in this. Maximum low capital trader does not swap on Erc20. If Bep20 increases in the future, maybe they will move away from Bep20.

At least BNB gas fee is still far lower than ETH gas fee. The rising price of gas fee in BNB is because the BNB coin price is rising.
The BNB gas fee is not too high, which is only around 5-10 GWEI per transaction, see here : https://bscscan.com/gastracker
Small traders should not using DEX because the swap fee is higher than the trading fee in CEX.

someone703

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Quote from: Rana590 on August 27, 2021, 02:18:46 PM

All eyes are on the BNB due to the increase in Ethereum's gas fee. Thinking about the beginning, it can be understood that the BNB's gas free is increasing day by day. Although I don't know the exact reason behind it, the curiosity is there.

Even if it increases, I find it insignificant to make a profit on each bsc20 trade. And if you look at the cost of successful transactions on erc20, I have no reason to complain. I think it's just a very small problem, and not much to worry about because in reality there are so many options in this field, it's not a good approach to judge by cost alone. with this market, and of course DYOR.

lenovop-70

full member

Activity: 1190

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Ofcourse it will increased since the transaction getting rush on their network, but we have many option beside the BSC network. I am a trader, while i count and still worth it, ill do it in any network beside me.

jeungo

full member

Activity: 700

Merit: 100

The most accessible system now for new projects is BNB. Ether has become too expensive for projects, translations are too expensive, and even basic features cost too much. I hope that soon the cost of translations will change with the introduction of ecosystem 2.0

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