Articles on: Based Up With Onboard Campaign

What are gas fees?

Gas fees are charges you pay to the blockchain network in order to make crypto transactions. Think of it as fuel for your car, without fuel your car won’t move. This gas fee is denominated in the native token of the blockchain network you are transacting in.

To understand what native tokens are, let’s think of a blockhain network like a country. E.g. Ghana and the native token as the legal currency that allows you to transact in that country, e.g. Ghanian Cedis.

An example from the crypto world - Ethereum is the native token for the Base network, therefore the gas fees on the Base network are charged in Ethereum).

Updated on: 09/02/2024

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