This is why i move to Binance Smart Chain

[bolawin]

[Genemind]

Not just you, but even some ERC-20 projects are migrating to BSC network due to the high transaction fees. People had been losing a lot of money due to these fees, even exchanging some airdrops in ERC-20 is not even practical, moving funds from your wallet to exchange costs over 10-20$ most of the time. BSC is trying to aid this problem by providing cheaper and faster transactions.

[cryptoaddictchie]

I guess this is is really a big blow to eth network. Paying fees like that in the long run is very expensive. I do hope ethereum has solution to the network fee cause if not, binance smart chain and other dexes will take over the lead and slowly eth will become useless.

The smaller the fee the bigger the project will be known. Take a look at BSC, they slowly pacing up and even surpassing the era of uniswap deals.

[bittick]

True, the fee is unbearable but the devs said they gonna get it fixed around july but to be honest, ETH developers have the track record of delaying things so can't be so sure, it's just best to move over to BSC at this point, doesn't make sense at all. sending eth already takes that much fee not to mention erc-20 that requires more gas.

[asriloni]

Maybe there's something wrong it and you can see the recommended fees on here https://etherscan.io/gastracker

It doesn't match with the fees that will be charged in your transaction and can you tell me what kind of wallet that you have used it to send your ethereum to the another address? I may think that you can get less fees than it except if that transaction will be used to swap your token

[meanwords]

Moving to Binance Chain wouldn't be a problem if only the developers of the other coins move too but unfortunately, it's really unlikely to happen. I'm sure a lot of investors are willing to move to Binance too if only those DeFi projects supports them.

This is getting out of hand to be honest.

[avikz]

True, the fee is unbearable but the devs said they gonna get it fixed around july but to be honest, ETH developers have the track record of delaying things so can't be so sure, it's just best to move over to BSC at this point, doesn't make sense at all. sending eth already takes that much fee not to mention erc-20 that requires more gas.

Well, they have a planned algorithm update from current POW to POS. I am not sure how did you get a timeline for this but I am not sure if it will happen in July to be honest! All I know is that they have it in pipeline, a trial run has started and many people have already locked their ETHs in the chain to mine, but public relase has been delayed.

Let's hope for the best that it happens early because ETH fees is just pain in the ass. Unfortunately, there is no quick solution!

[JeffBrad12]

Most people have indeed moved from ERC20 to BEP20 due to fee issues. But you don't need to worry because this won't last long, July-August this year the price of ETH gas is back cheap.

You should read the latest news about that. There would be another drama and this is the battle between miners against developers and community who wanna see the gas fees to be fixed.
The miners didn't let the developers and community fix the problem and they are acting against the proposal that already published by ethereum core developers.
That means if the implementation will be delayed until there will be a real solution about which EIP will be implemented.

[gurunanakji777]

Earlier we see sometimes less gas fee to do the transaction on the Ethereum network but nowadays picture is totally changed most of the time Gas fee remains high. As a small trader for transaction on the Ethereum network I need to wait because I can not waste my money paying a huge gas fee so keeping this in mind I also want to move to BSC based coins even nowadays many new projects are opting for BSC instead of Erc-20 and Ethereum dev should take this thing seriously otherwise BNB will grow much faster than Ethereeum in future. Current high gas fees is a big opportunity for BSC to attract new projects on their platform.

[big kid]

I'll never gonna leave ethirium, because it's decentralized instead of Binance. Also Vitalik Buterin is a great developer, i'm not gonna abandon him.

[repear7]

It’s really hard to survive in eth or erc-20. The swap cost of uniswap is too high. BSC is good from this side. I noticed about BSC project Every week. Too much people start moving to BSC,  The main resone of it is gas fees.

[masterrex]

Thats the sad truth Mate, And I'm wondering why Ethereum developers permit that to happen, and they just let those greedy miners becoming the boss and dictate the transaction fee cost, why I am saying this because they don't entertain those lower Gwie transaction fees until they were rejected by the system I believe that the Ethereum Network was already corrupted thats why I'm also moving to Binance Smart Chain to save some of my money from those abusive Ethereum Network fees. 

[Fivestar4everMVP]

28 usd is quite cheap compared to what I've personally experienced with fees on the Ethereum blockchain so far, I also stopped transacting on the platform, there are many erc20 tokens I wish to sell on uniswap but can't cus the fees are way much higher than the proceed I will get from the sell, I have dego NFTs on the Ethereum blockchain which I wanted to sell and convert to dego NFTs on binance chain but can't due to fees running as high as $1200 dollars last time I checked, just to withdraw all my dego minning NFTs from the dego minning platform, I can't afford that amount for just a fee, so now, my NFTs are stuck there until God knows when the ever will ever return back to normal again, and this is something I spent hundreds of dollars buying.

[jrrsparkles]

When you care about the fee more than the decentralization then it is going to kill the cryptocurrency market in long run, BSC looks great at the moment but they are centralized so we are moving our assets feom governments to private owners control.

[devollito]

And this is why many developer and project move their project or make another token on BSC, the fees can not be reduced, especially if it listed on dex like uniswap, you will pay high fees plus double fees Token - WETH - ETH or vise versa. I hope eth 2.0 will launch soon.

[jerrison]

The gas gees charged on binance smart chain is the major reason why I love it. Although, other reasons may be observed as I progressively utilize the platform but for now, I have only observed the less gas fees, although its not the cheapest in all blockchsins but considering the number of projects on it

[Twinkledoe]

The gas gees charged on binance smart chain is the major reason why I love it. Although, other reasons may be observed as I progressively utilize the platform but for now, I have only observed the less gas fees, although its not the cheapest in all blockchsins but considering the number of projects on it

Have used BSC network several times and the fees are really economical as compared to eth. Now, more and more people are discovering this network, they will be soon a go-to network among crypto users. And the thing is, it is under Binance which has good reputation in the community. So eth platform should fast track their developments, otherwise, a lot of people will switch to BSC for good. Even developers are going to BSC as I have seen several projects that are now using BSC.

[X-ray]

I haven't used the ETH network since the start of the year and moved to the BSC network for the exact reason being the high gas costs. Moreover, many BSC projects have started and can choose to invest there. And in the end it is the users who will decide who wins between Ethereum or the Binance Smart Chain.

The users will use what that will make the feel better than before. The majority of tokens were build in ethereum and that will make BSC is a bit difficult to compete with ethereum.
There are lots of platforms already migrated into the BSC but again mostly major platforms didn't wanna do that consider it already built big community on ethereum platform.
The small traders may follow you to use BSC as an alternative way to trade rather than ethereum or uni

[bakasabo]

After reading posts in this topic I came to a conclusion, that Binance Smart Chain is better than Ethereum blockchain only due to Ethereum network high fees. Is that it? High fees is the only reason? Tron, Litecoin, Stellar have low fees also. But there is no hysteria to migrate everything there. Why?

I'm sure that low fees on BSC is not the only reason; there must be something else, unknown to me. Just imagine the situation Ethereum fees goes back to what they were in 2017/2018. Would users immediately go back and forget BSC?

[lobo13hf]

After reading posts in this topic I came to a conclusion, that Binance Smart Chain is better than Ethereum blockchain only due to Ethereum network high fees. Is that it? High fees is the only reason? Tron, Litecoin, Stellar have low fees also. But there is no hysteria to migrate everything there. Why?

As far as i know now BSC is compliant with ethereum network and the users didn't even need to create a new wallet again but the smartcontract users must issue a new smartcontract again and i think this feature was the reason why BSC getting hyped. People just need to setting RPC on their wallet like metamask or portis to be connected with BSC.

I'm sure that low fees on BSC is not the only reason; there must be something else, unknown to me. Just imagine the situation Ethereum fees goes back to what they were in 2017/2018. Would users immediately go back and forget BSC?

Beside the low fees that offered by BSC and the community support, possibility to be listed on binance should become another reason why some people and developers migrate to the BSC
I don't even think they will be going back again to the ethereum easily.