What is gas fee?

What is gas fee?

Gas Fee is a type of transaction fee that you have to pay for the network to execute a transaction.

If you want to run 10km, you need to fill 0.5 liters of gasoline costing 9000 VND. Similarly, in blockchain and crypto, if you want to transfer 1000 ETH to another wallet on the Ethereum network, you need gas to conduct the transaction ⇒ This gas will be converted into ETH for you to pay.

Gas Fees on Blockchains

You will pay the Gas Fee with the coins of the blockchain you are transacting on. This means that depending on different blockchain platforms, Gas fees are also calculated in different units.

For example:

• BNB for transactions on BNB Smart Chain,

• SOL for transactions on Solana,

• MATIC for transactions on Polygon, etc.

This fee is charged by the blockchains, not Ramper. Ramper does not control gas fees nor profit from them.