Currently I am trying to send out my ERC20 token TRX to binance exchange, however any time I did that the metamask is pointing insufficient balance for transaction. I did research and I am wondering now if I need to have eth in my ethereum balanace or I can pay the fee with trx. The eth account does not have any eth but a lot of trx and other erc20 tokens. Thanks in advance for the help!
2 Answers
You will need eth for this transaction, with every token transfer a little fee deducts as per gas value from sender account in ethers.
GasFees only charge in Ether.
On the Ethereum blockchain, gas refers to the cost necessary to perform a transaction on the network. Miners set the price of gas based on supply and demand for the computational power of the network needed to process smart contracts and other transactions.