1inch exchange fees

  • 0.04 ETH
  • 0.03 BNB
  • 0.02 MATIC
  • .01 ETH (optimistic)
  • 0.01 ETH (Arbitrum)

Why can’t I pay for gas with the tokens I’m swapping?

On the above blockchains, all transactions require a transaction fee, which is typically referred to as “gas”. These operations carry significant costs (of both electricity, equipment, or capital) for the miners/stakers, who rely upon the gas fees to continue validating blocks. Since the miners/stakers are providing this service at a cost, they require payment in the native currency of the network that they are putting time, energy, and capital into supporting.

Why don’t I have to pay gas fees (and wait for confirmations) when trading on a centralized exchange, like Binance, Coinbase, or FTX?

Centralized exchanges use “off-chain” order books to facilitate trades, and therefore do not have to rely upon miners of a blockchain to validate transactions. It is essentially an “IOU” system where the user gives the exchange full custody of their funds. Instead of paying a gas fee to trade, the user instead pays a trading fee, which goes to the exchange’s wallet as profit. Unfortunately the user then also has to pay a “Withdrawal fee” for moving any funds on the centralized exchange into their own possession.

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