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Polygon/Matic fees are about 900x cheaper than on Binance Smart Chain (BSC).

This was done a week or two ago. I was pretty surprised to see this myself.

>Polygon – $0.00003969

>BinanceChain – $0.0357

>Ethereum – $8.80

[Here](https://quickswap-layer2.medium.com/how-to-set-up-polygon-matic-mainnet-for-metamask-transfer-assets-from-l1-to-l2-to-use-9a7975eb8769) is a guide on setting up a MetaMask wallet for Polygon in case anyone is wondering how to do that.

Over the past couple of days I’ve been playing around with Polygon and am pretty impressed. It’s very fast and very cheap. Still needs more platforms on it, which are consistently filtering in, but holds a lot of promise. Add in Arbitrum being released last week (?) and a slated opening to the public in the next few weeks and this may be the *Layer 2 Summer-palooza.* Pretty exciting.

Edit: there is a fantastic site that shows all the platforms at https://awesomepolygon.com – many more than I thought.



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35 Comments

  1. Having minted NFTs on all three chains, I can confirm Polygon is by far the best experience.

    BSC has insanely high fees considering its level of use and centralization.

    When ETH Gas is 10 Gwei, there’s no difference in NFT minting cost on most platforms.

    Also haven’t sold shit on BSC, unlike ETH and Polygon.

  2. Binance smart chain is the worst of all worlds. None of the benefits of centralization, none of the benefits of decentralization, all of the risks of both.

    ![gif](giphy|26FPy3QZQqGtDcrja)

  3. This is why im so bullish on ETH and matic. The whole System is insane. You can fuck up heavily and still only pay half a cent in fees to fix it. It’s perfect for newbies.

  4. What does the future of Polygon look like once ETH 2.0 is out? if L1 transactions become sufficiently cheap, what are the incentives for users to keep using MATIC?

  5. While I do prefer polygon over BSC RN in the defi space I prefer to yield farm on BSC because it has more pairings/LP’s that I actually want. Im hoping better LP pairings are added to polygon in the near future so I can make the swap.

  6. As far as I’m concerned, who ever does the transactions the best, will just be copied for future platforms

    Just like apples IPhone

    That’s true innovation, building upon the best

  7. I’ve also taken this market as an opportunity to get into Defi. Though I’m still having trouble finding a cheap way to *get into* the polygon network.

    The solution seems to be BSC…

  8. Yeah and BSC is centralised and has had so many of its platforms (Bunny, Sparta, Burger to name a few) Hacked in the last month only. I think there were like 8 hacks.

    ​

    So your money is better elsewhere for sure

  9. I’m a bit confused. I managed to add the Matic token in Ethereum mainnet. And I also managed to add a custom RPC for Matic Network which also happens to have a Matic token.

    Which one is the one I should use?? Will sending Matic coins/tokens to one network automatically add it to the other network too??

  10. This is not entirely true.

    It depends on where your starting point is. If you start with funds in Binance, then BSC is still cheaper because with Matic there is a initial bridging fee (to bridge between another chain to Matic) that you have to pay which is a certain % of your transferred amount.

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