Gas Fee Of BNB Is Increasing

[smartaction]

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.

In my opinion The reason of increasing BNB gas fee is increasing BNB price and increasing transaction  day by day. Millions of transactions are forcing gas fees to rise. Many people  are raising gwie to complete their transactions quickly. And it is forcing gas fees to rise

[2girls]

I think in this time BNB is rise day by day because all people use and support to this because the Transaction fee of bnb is very low this point people support this.
But i think bnb rise there Transection fee so they loss there position and people are not purchased bnb and that same reason of Ethereum is a best coin but this problem people cannot use this because there price is so high.

[Jonyshake71]

When eth gas fee was increasing, we were unable to do anything but keep watching. So now if the same thing is happening with bnb, then what to do?! If ceo can solve problem then okey. Otherwise we'll go to another blockchain for low fee as like what people do with eth and bnb. but i think bnb transactions fee is still so low and shouldn’t need to be worry from now.

[akar87]

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.

Basically BSC gas fees also have a similar concept to gas fees on other blockchains such as ETH, so that when there is an increase in user transactions simultaneously, the blockchain will require higher fees to validate transactions so that congestion does not occur.

[Ten98]

I think the transaction fee on BNB is still cheap and according to what we get, to send tokens is only about 13 cents and it only takes 45 seconds to reach 10 confirmations, if one day the transaction volume is 10x from now it might cost more than $ 1.

The transaction gas fee always depends on the price of the BNB itself because when the price of BNB becomes more expensive, the amount that must be spent in each transaction will also look expensive even though the number of digits still looks the same as before.

[tbct_mt2]

That's the problem. Fees rise according to network activity. Since smart contracts (dApps) require constant interaction on the Blockchain, fees will only go higher over time. The more people use the Blockchain, the higher the gas fees will be.

Technically it is how new blockchains can give very cheap transaction fees. Their original promise will be our projects can provide very cheap, cheapest transaction fee. Our networks won't have issue with scaling, size, etc. Many of new projects die months later or fail to grow so we never have chance to verify their promise.

Else, successful projects will cope with increase of network activities then it leads to issues. We see it with Ethereum, Binance Smart Chain and lately Solana.

[nimogsm]

BNB gas fee is increasing but still it is good gas fee than ethereum the gas fee of ethereum is really very high compair to BNB gas fee and it is already know for so many times now that is why people do used BNB than ethereum because gas fee really matters.

There is no strong increase in gas prices now.Now transactions are available to everyone, it's really inexpensive and it pleases.in addition, against the background of the main competitor, this is really noticeable as a difference.Of course there are problems in the network, but they pass quickly.

[Nazmul012]

So is happening due to pressure is getting higher on bsc network. People are shifting on bsc network aggressively instead of/along with eth chain but i like the way how bsc manages their fee service in the comparison of eth. Because eth takes $25+  for erc20 tokens transactions & bnb takes 0.46 to 0.60 cent max for bep20 transactions. Eth token swap is killing cause sometimes need $200+,, while swap can be done on pancakeswap less than $1 with fast transaction.

[BlackBaron]

So is happening due to pressure is getting higher on bsc network. People are shifting on bsc network aggressively instead of/along with eth chain but i like the way how bsc manages their fee service in the comparison of eth. Because eth takes $25+  for erc20 tokens transactions & bnb takes 0.46 to 0.60 cent max for bep20 transactions. Eth token swap is killing cause sometimes need $200+,, while swap can be done on pancakeswap less than $1 with fast transaction.

Comparison of gas fees between eth and bsc networks is very different, but users of the ETH network are still dominant and do not completely switch to other networks, currently gwei transactions are never stable and sometimes drop to 40 gwei so it is cheaper to pay for transactions on Uniswap.

[gost111]

BNB gas fee is increasing but still it is good gas fee than ethereum the gas fee of ethereum is really very high compair to BNB gas fee and it is already know for so many times now that is why people do used BNB than ethereum because gas fee really matters.

There is no strong increase in gas prices now.Now transactions are available to everyone, it's really inexpensive and it pleases.in addition, against the background of the main competitor, this is really noticeable as a difference.Of course there are problems in the network, but they pass quickly.

Of course , against the background of the main competitor , this is very noticeable , the price for gas is very attractive to me , and it is much cheaper to send transactions to the BSC network , well , problems periodically happen for everyone 

[Abiky]

Technically it is how new blockchains can give very cheap transaction fees. Their original promise will be our projects can provide very cheap, cheapest transaction fee. Our networks won't have issue with scaling, size, etc. Many of new projects die months later or fail to grow so we never have chance to verify their promise.

Else, successful projects will cope with increase of network activities then it leads to issues. We see it with Ethereum, Binance Smart Chain and lately Solana.

It's all a marketing technique new crypto projects use in order to attract investors into them. Once network activity increases, their claims of being the fastest and cheapest blockchain in the world become futile. Any cryptocurrency no matter how scalable it claims to be, can be subject to slowdowns and high TX costs due to high network load. It's all a matter of constantly improving the core blockchain technology in order to prevent fees from becoming economically unfeasible.

BNB's gas fees may've increased lately, but it's still much cheaper to use than ETH. Not to mention, Binance's own blockchain network is much more reliable and secure than Solana. With so many alternative blockchain networks and Layer-Two scaling solutions, there's no need to worry about gas fees increasing on a single chain. You'd simply move to another coin whose fees are extremely low. As long as money keeps flowing on BNB, nothing else matters. Just my opinion

[JrRini]

The BNB gas fee is increasing day by day like ETH and it is expected to increase further. If it increases further then it will be difficult to swaap tokens and pay a lot. I would like to reduce BNB gas fee.  If it increases further, many will not want to ruin the campaign and no one will buy and chat about BSC tokens. Like Ether, BSC value will go down.  I am hopeful its value will not increase further and gas fee will be reduced

[blockman]

Comparison of gas fees between eth and bsc networks is very different, but users of the ETH network are still dominant and do not completely switch to other networks, currently gwei transactions are never stable and sometimes drop to 40 gwei so it is cheaper to pay for transactions on Uniswap.

Many are switching networks for their transactions. The good thing with many altcoins these days is that they're also supported in other networks. Like if there's an erc20 token, there's a chance that it's also in BSC for being bep20 token and as well as other networks that has lower fees.
That's why if you're sending that much in erc20 and you're too irritated with the fee. Always check the exchanges if they have support for that token in other networks for you to save much in fees.

[AmoreJaz]

Yes, we can see that the gas free of BNB platform is slowly increasing. Ethereum platform gas fees were once very low but now Ethereum platform Gas fees have risen so much that people have abandoned the Etherium platform altogether. But then the BNB platform came and the platform became very popular as the gas fee was very low.At present the transaction fee of BNB platform is increasing. In that case, the etherium would be destroyed like a platform

and now comes with other networks like sol, ada, matic, avax. lol with the increasing number of bsc users, no doubt that they will slowly increase the fees in order to prioritise your transaction. don't worry, some networks are rising up to compete with their market. users have other options now. it is not limited to one or two but many. this is the beauty of competition, they are finding ways how to come up with better services so users will go to their network.

[LastKiss]

Yes, we can see that the gas free of BNB platform is slowly increasing. Ethereum platform gas fees were once very low but now Ethereum platform Gas fees have risen so much that people have abandoned the Etherium platform altogether. But then the BNB platform came and the platform became very popular as the gas fee was very low.At present the transaction fee of BNB platform is increasing. In that case, the etherium would be destroyed like a platform

and now comes with other networks like sol, ada, matic, avax. lol with the increasing number of bsc users, no doubt that they will slowly increase the fees in order to prioritise your transaction. don't worry, some networks are rising up to compete with their market. users have other options now. it is not limited to one or two but many. this is the beauty of competition, they are finding ways how to come up with better services so users will go to their network.

Because a lot of people using BNB now no doubt they will increase their Fees, also there are upcoming many projects of NFT and metaverse. In the old days cryptocurrencies perform very little fees to their users and now I feel like their fees are around the same as PayPal and others. Well Ethereum should decrease its Fees price and BNB should maintain its fees to keep its users using BNB platform.

[ItsNotSean]

BSC is 100% centralized. Their "gas" fee is an arbitrary fee they charge that they think they can get away with. They get 100% of it after they "burn" some portion.

BSC is just a crypto trading game, where you pay with real crypto to get access, and get wrapped "binance" game tokens to play with.

[Pamadar]

The BNB gas fee is increasing day by day like ETH and it is expected to increase further. If it increases further then it will be difficult to swaap tokens and pay a lot. I would like to reduce BNB gas fee.  If it increases further, many will not want to ruin the campaign and no one will buy and chat about BSC tokens. Like Ether, BSC value will go down.  I am hopeful its value will not increase further and gas fee will be reduced

What you need to understand now is the price of BNB, because if the price of BNB itself increases in the market then the price of transaction fees will also increase and even then it will not be too much and significant as has happened to ETH today because the price of BNB is still very affordable and also not as expensive as ETH, so a slight increase in transaction fees on BSC is natural.

The increase in fiat value of each BNB affects the price of the transaction fees.

I follow that argument since that the same thing happened to ETH. So far it's not being that huge, but along the way when BNB
reached much higher value, transaction fees that converted to fiat value will be very alarming.

It is always the case when increase happened to any utility asset. You need to understand things well and continue doing your research
about the use case if it's still the only option you've got.

[LostEcho]

If the value of BNB keeps growing up the gas fee will increase that's what I've noticed myself, now that BNB is back to 400$ area the gas fee have also decreased too I guess that's the way things work in crypto space, only coins with massive max supply have cheapest gas fees because their value isn't even close to 1$ per coin or token.

[19Nov16]

The number of platforms developing BSC makes the use of BNB continue to increase, this has an impact on increasing gas costs, but I think it's still cheap, to send BNB with Metamask it takes around 8 cents while for tokens it's around 15 cents.

[bhadz]

The number of platforms developing BSC makes the use of BNB continue to increase, this has an impact on increasing gas costs, but I think it's still cheap, to send BNB with Metamask it takes around 8 cents while for tokens it's around 15 cents.

Yes.
It's still cheaper than ETH's transaction fee which could go more than 10 times if the gwei is too much. Just like ETH before when it's not yet crowded.
Fees are not high.
But when there are too many transactions happening on day by day, the fees have increased significantly.