What does it mean that BNB is not enough to cover gas fees? what to do?

Binance Smart Chain is different from the Ethereum main network. It is more compatible, richer, and more importantly, has low transaction fees, which means that traders’ costs will be lower, so it is loved by traders. This transaction fee is Gas, which is the fee paid by users to network validators when executing transactions or interacting with smart contracts. The fees paid are generally the native assets of the blockchain. As a native asset on the chain, BNB is an essential part of transactions. However, when conducting transactions, some pages pop up with the message that BNB is not enough to pay for gas. Many people still don’t know what it means that BNB is not enough to pay for gas? Simply put, it means that the account balance is insufficient. The editor below will tell you in detail.

What does it mean that BNB is not enough to pay the gas fee?

Insufficient BNB to cover Gas means that your BNB balance is insufficient to cover the required Gas fees when making transactions or executing smart contracts. On the Binance Smart Chain, Gas is the fee required to execute transactions and smart contracts, similar to Gas on the Ethereum network. Gas fees are determined by the complexity of the transaction and the current congestion level of the network, and were originally designed to compensate network validators for the energy consumption required to verify transactions.

Gas price is expressed in GWEI, which is the unit of Wei that is easier for users to understand. 1 GWEI is equal to 10^9Wei. This notation helps to better understand the cost of Gas. The higher the gas price is set, the more likely it is that transactions will be included in the next block, as this incentivizes miners to prioritize these transactions.

In most user interfaces, the default value for Gas price is usually 20 GWEI, which is usually enough to complete the transaction within the next few minutes. If the gas price were increased to 40GWEI, then transactions would likely be confirmed faster as this would increase the chance of it being included in the next block.

What should I do if BNB is not enough to pay for Gas?

BNB is not enough to pay for Gas, which can be solved by increasing BNB balance, adjusting Gas fees, waiting for Gas fees to drop, and using other platforms. The following is a detailed introduction to the four methods:

1. Increase BNB Balance:

The most direct way is to buy more BNB and deposit it to your wallet address. This ensures you have enough funds to pay for gas fees.

2. Adjust Gas fees:

When conducting transactions or executing smart contracts, you can usually customize the amount of Gas fees. You can try lowering the amount of gas fees to ensure your balance is enough to cover it. But be aware that lowering gas fees may result in slower transaction execution or delayed transaction confirmation.

3. Wait for the Gas fee to drop:

Sometimes, network congestion will cause the Gas fee to rise. You can wait for network congestion to ease and gas fees to drop before executing your transactions or operations.

4. Use other wallets or trading platforms:

If the wallet or trading platform you use has higher gas fee settings, you can try to use other platforms for trading. Some platforms may provide more Low gas cost option.

The above is the detailed content of What does it mean that BNB is not enough to cover gas fees? what to do?. For more information, please follow other related articles on the PHP Chinese website!