All about the commission in the Binance Smart Chain network when interacting with the FORSAGE BUSD contract
Binance Smart Chain is an innovative solution to bring programmability and interoperability to Binance Chain. Binance Smart Chain relies on a system of 21 validators with Proof of Staked Authority (PoSA) consensus that can support short block time and lower fees.
BSC has around ~5 second block time which enables high-speed transactions that only cost network participants a few cents.
Binance Smart Chain average gas price
This chart tells you the average gas price that users pay for BSC transactions.
As we've mentioned, BSC has extremely low fees. In BSC, 1 gwei is 0.000000001 BNB.
With an average gas price of 20 gwei, sending 10 BNB worth about $300 should cost you roughly $0.01. In fact, sending ten or even a hundred times that amount still shouldn't cost you more than a few cents.
From the transaction history, we can see that some of the transactions paid higher fees than that. Some users may have brought their old habits from using Ethereum or other compatible tools. It's really not necessary. Binance Smart Chain is still far from congestion, so 20 gwei should be enough.
Even interaction with smart contract or trade on DEX fee cost less than 1$ in BNB.
Binance Smart Chain explorer: https://bscscan.com
When interacting with FORSAGE smart contracts in the Binance Smart Chain network, a commission of between 0.8 and 3 US dollars is expected.
Commissions in the xXx FORSAGE program:
In xXx, at least 0.01 BNB per 1 transaction is recommended for the commission
0.01 BNB is the absolute maximum commission that can be spent.
Therefore, if you want to activate 5 levels, have min 0.05 BNB on your wallet
The actual cost per transaction varies from 0.005 to 0.007 BNB per transaction in xXx Program
Registration fee for FORSAGE BUSD (X3, X4):
Registration fee for FORSAGE BUSD was 0.003 BNB
Commission for upgrading a new level in the X3 program:
The commission for the activation of a new level in the x3 program was 0.001 BNB
Commission for upgrading a new level in the x4 program:
The fee for activating a new level in the x4 programme was 0.002 BNBB
Please plan the amount in BNB for the commission for registration and activation of new levels!
Attention! To make any transactions with the BUSD stablecoin in the Bianance Smart Chain network, you must have a BNB coin on your balance. Fees for transactions with the BUSD token are calculated only in BNB, so all fees will be automatically deducted from your BNB balance. If your wallet does not have the BNB cryptocurrency, then the Bianance Smart Chain blockchain will not be able to carry out any of your transactions with the BUSD stablecoin!
Stable coin BUSD (token) BSC network (BNB-coin), BEP20
Info: To make any BUSD transaction, you need to have a stock of BNB on the wallet to write off commission from the Binance Smart Chain network
More information about BUSD FORSAGE on the BSC network:
→ FAQ: BUSD FORSAGE expansion on Binance Smart Chain (BSC)
→ How to prepare your wallet for the launch of FORSAGE BUSD on the BSC network
→ How to buy BUSD and BNB for registration in Forsage BUSD
→ Why BUSD and BNB on Binance smart chain (BSC) has same address format as Ethereum (ETH) network?
→ Difference between Binance Chain BNB (BEP-2 format) and Binance Smart Chain BNB (BEP-20 format)
→ List of common mistakes that may cause your assets loss
→ How to buy BNB and BUSD on Binance.com
→ How to add Binance Smart Chain wallet with BUSD token if you have separate Ethereum Wallet in app? (Trust Wallet)
→ How to buy BUSD from an online exchanger