Articles on: Getting Started

What are gas fees?

Gas fees are required to process blockchain transactions and are usually paid in the native token of the blockchain network that is processing the transaction. _For example, if you are transferring ETH on the Ethereum blockchain from one wallet to another, you will need to keep enough ETH in your wallet to cover the transaction/gas fee.

With Sequence Wallet that's not the case.

The estimated gas fee is always displayed when attempting to execute a transaction. Unlike other crypto wallets, the Sequence Wallet allows users to pay transaction fees in the tokens of their choice.

These are the current tokens available to pay network fees:

On Ethereum:

WETH (Wrapped ETH)

On Polygon:

WETH (Wrapped ETH)

On BNB smart chain:

WETH (Wrapped ETH)

The higher the number of transactions a blockchain network has, the higher the gas fees usually are. Due to the popularity of the Ethereum blockchain, over the last year, gas prices have risen considerably. As a solution to this, users can opt to transact on the Polygon network where fees are usually below $0.01.

The Sequence Wallet is compatible with Ethereum, Polygon and BSC networks and many more. Only transfer assets to your Sequence Wallet using any of the chains that we currently support.

Updated on: 19/02/2024

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