Direct from the desk of Dane Williams.
Walkthrough on getting free BNB for gas fees using Hive’s layer-2 swap tokens.
Whenever you use Binance Smart Chain, you need BNB tokens to pay gas fees on every transaction.
While we’re spoiled by the fast and FREE transactions here on Hive, you require gas fees on almost every other blockchain.
You could open an account on a centralised exchange and buy BNB there, but many of you simply want an easy way to get free BNB.
This blog walks you through using a Hive account to get free BNB that you can then easily transfer to your BSC DeFi platform of choice like Cub Finance.
Let’s get into it.
1. Open a free Web3 Hive account
Obviously you’ve stumbled across this blog from outside of the Hive ecosystem, while searching for free BNB for gas fees.
So the first thing you’re going to need to do is open a Hive account.
Thanks to LeoFinance, the process of getting a censorship-resistant Hive account is super simple.
All you need is your Twitter login and you’re good to go.
Simply head to leofinance.io, click the get started button at the top to create your account.
Claim your keys, add them to Keychain and you’re now able to earn HIVE rewards from posting/commenting/curating that you can use to get free BNB for gas fees.
If you already have a Hive account, you can of course skip the step of earning and use the HIVE already sitting in your wallet.
2. Earn HIVE crypto for free
How does simply exchanging your time for free HIVE crypto sound?
Well this is what the Hive blockchain offers anyone and everyone.
By using any of Hive's Web3 social media dApps, you're able to earn free crypto by just adding to the conversation.
Yes Hive has a reputation as being a blogging platform, but as we see everyday here on LeoFinance, comments are generously upvoted.
Stakeholders see the value of engagement and reward comments that add to or spawn further discussion.
Crypto rewards that by following this simple walkthrough, you’re able to then permissionlessly transfer to BSC for gas fees.
3. Deposit HIVE into Hive-Engine
Hive’s layer-2 solution known here as Hive-Engine acts as the bridge between Hive and Binance Smart Chain.
While HivePay SWAP is cheaper, the main Tribaldex front-end always has liquidity so for the purpose of this walkthrough, we’ll use them.
Click your wallet at the top and then choose HIVE from the drop down.
You will now see that deposit sitting as SWAP.HIVE in your wallet.
4. Swap SWAP.HIVE for SWAP.BNB
Stay on Tribaldex and click the pools tab at the top of the screen.
This is where you can easily swap your SWAP.HIVE that you just deposited for SWAP.BNB that you can use for gas fees.
This is an asset backed token, meaning that the Hive-Engine team is holding BNB at a 1:1 ratio and thus its price remains pegged to the real asset.
5. Withdraw SWAP.BNB to your Binance Smart Chain wallet
Finally, click on your wallet at the top and then the withdraw button.
After the transaction is confirmed on Binance Smart Chain, the BNB will appear in your MetaMask balance.
By earning HIVE from your social activity, you now have what is essentially free BNB for gas fees!
Final thoughts on getting free BNB for gas fees
The process here is exactly the same as we used the other week while getting free MATIC for gas fees.
It shows just how powerful the distribution model behind the HIVE token is, allowing you to earn free crypto rather than having to buy it off an exchange.
The old model of going to a faucet to get free BNB for gas fees is dead.
Use Hive instead.
Best of probabilities to you.