Skip to main content

Smart Chain (BNB)

What is Smart Chain?​

Here are 5 key points about the Smart Chain (BNB) Network:

  • Smart Chain is a blockchain network that is offering Ethereum Virtual Machine (EVM) compatibility that allows developers to deploy smart contracts and decentralized applications (dApps) using familiar Ethereum tools and programming languages.

  • Smart Chain is designed to handle a high throughput of transactions that enables quick transaction confirmations and supports a wide range of decentralized finance (DeFi) applications.

  • Binance Coin (BNB) is the native currency of the Smart Chain Network which is used for transaction fees and also utilized for participation in governance decisions and network validators.

  • Smart Chain offers opportunities for users to stake BNB and other assets, earning rewards as yield farming protocols that provide liquidity to decentralized exchanges and liquidity pools.

  • Compared to Ethereum's mainnet, Smart Chain typically offers lower transaction fees which makes it more cost-effective for users to interact with dApps and perform token transfers.


Learn more about Smart Chain (BNB) by reading the Gem Wallet Learn article: What Is The BNB Chain?

Smart Chain on Gem Wallet​

Gem Wallet has the following features enabled for Smart Chain:

Smart Chain Wallet Swap BNB to BEP20

What are BEP20 tokens?​

BEP20 tokens is a token standard on the Smart Chain Network with the following features:

  • BEP20 tokens are fully compatible with Ethereum's ERC20 token standard which can seamlessly interact with Ethereum's ecosystem, including wallets, decentralized exchanges (DEXs), and other decentralized applications (dApps).
  • Transactions involving BEP20 tokens typically incur lower fees compared to Ethereum's mainnet.
  • BEP20 tokens transactions are processed quickly, with fast block times and confirmations due to the high throughput and low latency of the Smart Chain Network.

Smart Chain Wallet with BEP20 Tokens Add BEP20 Token


Learn more about BEP20 tokens from this Gem Wallet Learn article:
What Is BEP20 and What You Need to Know About Tokens on the BNB Blockchain

How to Get Smart Chain?​

Here are some ways to acquire some Smart Chain (BNB):

  • Buy Smart Chain (BNB) directly on the Gem Wallet app.
  • Receive BNB with the unique Smart Chain address on the Gem Wallet app.
  • Swap BEP20 tokens to BNB. This requires that you already have BNB on your wallet to pay for fees.

Buy Smart Chain on Gem Wallet Recieve BNB on Gem Wallet

Transaction Fees on the Smart Chain Network​

The fees on Smart Chain are summarized as follows:

  • Smart Chain (BNB) generally offers lower transaction fees which makes it more cost-effective for users to interact with decentralized applications (dApps), transfer tokens, and participate in various blockchain activities.
  • The low transaction fees on Smart Chain make it particularly attractive for traders and users of decentralized finance (DeFi) platforms.
  • Unlike Ethereum's mainnet, where gas fees can vary widely based on network congestion, fees on Binance Smart Chain tend to be more stable and predictable.

Send BNB Transaction Fee Swap Fee on Smart Chain


You can check the current Gas fees on Smart Chain by going to this site, Smart Chain Gas Tracker.

How to Check Smart Chain (BNB) Balance?​

Gem Wallet app connects to the Smart Chain Network to show the BNB balance on your wallet. Tap on the 3 dots at the upper right corner, then tap on View address on BscScan.

View BNB Balance View BNB Transaction on Gem Wallet


BscScan is the default BNB explorer of Gem Wallet. You can manually check balances and transactions by going to BscScan and search for your BNB address.

View BNB Balance on BscScan View BNB Transaction on BscScan