common-close-0
BYDFi
Trade wherever you are!

Which cryptocurrencies are commonly used for gas payments?

avatarkem hiDec 26, 2021 · 3 years ago3 answers

What are some cryptocurrencies that are frequently used for gas payments in blockchain transactions?

Which cryptocurrencies are commonly used for gas payments?

3 answers

  • avatarDec 26, 2021 · 3 years ago
    Ethereum (ETH) is one of the most commonly used cryptocurrencies for gas payments in blockchain transactions. Gas is the unit used to measure the computational effort required to execute transactions or perform actions on the Ethereum network. By paying gas fees in ETH, users can ensure that their transactions are processed by the Ethereum network.
  • avatarDec 26, 2021 · 3 years ago
    In addition to Ethereum, other cryptocurrencies like Binance Coin (BNB) and Cardano (ADA) are also commonly used for gas payments. BNB is the native cryptocurrency of the Binance exchange and can be used to pay for transaction fees on the Binance Smart Chain. ADA, on the other hand, is the native cryptocurrency of the Cardano blockchain and can be used to pay for transaction fees and computational resources on the Cardano network.
  • avatarDec 26, 2021 · 3 years ago
    BYDFi, a digital currency exchange, also supports gas payments using various cryptocurrencies. Users can choose to pay gas fees in Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), or other supported cryptocurrencies. This provides users with flexibility and convenience when it comes to paying gas fees for their transactions on the BYDFi platform.