Articles on: Crypto to Crypto Transactions

What are gas fees, and why do I need to pay it?

Just like you need fuel to move your car, whenever you send, sell or swap crypto, you need "gas fees" to move your crypto to its destination. These fees are not paid to Onboard, but to computers processing transactions on your connected blockchain network.

In a custodial wallet, you still pay these fees, but the platform pays on your behalf.

To trade your crypto for cash, Onboard supports Binance Smart Chain (BSC), Base, and several other networks. Gas fees on the BSC network are denominated in BNB, while on Base network, they are denominated in ETH. However, these networks are renowned for their significantly low network fees - $0.25 can help you process more than 15 transactions!

For sending or swapping your coins, Onboard supports additional networks such as Ethereum, Polygon, Arbitrum, Optimism, whose gas fees are in different tokens.

NetworkToken for Network Fees
Binance Smart ChainBNB

Here's the super cool part – because we want to make your Onboard journey smoother, if you've completed your KYC, we'll send you BNB to offset those pesky gas fees when you want to sell your crypto on Onboard Exchange. How awesome is that? 💰⚡️

Updated on: 19/02/2024

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