Welcome to this guide, where we are going to see the solutions to the Insufficient Funds problem that we have all encountered when using Metamask.
First though, for people who don’t know why this error happens, let’s take a look at the main reason. If you already know why this happens, you can go directly to the different solutions we are going to see so you can make the transaction you want.
So let’s take a look at it.
The reason for this is because you do not have enough of the native token of the network you are using to make the transaction. Each transaction has a cost, known as a gas fee. On the Ethereum network, we will have to have Ether (ETH), on the BSC we will have to have BNB (Binance Coin), on the Solana network we will have to have SOL (Solana) and so on with each network. Each network has its own token with which the gas fee is paid.
Sometimes, you may not have any amount of that token, and therefore, you will have to send that token to your address in order to make a transaction.
The most common case is that you have tokens, but not enough. On the Ethereum network, which has a very high cost compared to other networks, this kind of problem happens a lot. If you are using this network, I recommend waiting for a time when the commission or gas fee is lower. This is usually when there are less users using this network and making transactions.
Another very common case is when making a swap on a decentralised exchange or staking the network’s native token on a platform. When you are going to exchange or deposit the network’s native token, always make sure to leave a small amount for further transactions.
If let’s say you have 0.2 ETH, and you want to exchange your ETH for USDC, if you go to uniswap and enter 0.2 ETH and click on swap, when metamask opens you will get the insufficient funds message, because you are using all your ETH and you are not leaving enough to pay the gas fee for the transaction. Therefore, the ideal would be to indicate 0.19 or 0.18 ETH and thus have that 0.01 or 0.02 to make that transaction or some more. This is an example, if the cost of a transaction is higher, you should leave more margin.
The same applies if you want to deposit, let’s say your BNB in staking on a platform like beefy Finance. If you have 0.5 BNB, and in deposit you indicate 0.5 BNB, you will not be able to make the transaction. You will have to leave an amount for the gas fee to be able to sign the transaction.
These are the most common cases we encounter with this problem, and all of them have a solution.
We can find several solutions to this problem, in case the main solution cannot be implemented.
The main solution, as you can imagine, is to send more funds to that address. If you are using the Ethereum network, use a platform like Binance and send more ETH to your wallet in order to have enough ETH to make the transaction. The same with any other network such as BSC, Avax, Solana, Fantom, etc.
If you have the capacity and can withdraw from your centralised Exchange to your wallet, it is the best way to solve this problem. The other solution, in the case of making a swap or deposit of the native token, is, as mentioned above, to indicate an amount lower than the total amount you have of that token.
There are many cases in which centralised exchanges have a very high minimum withdrawal or we do not have enough capital to send more to our wallet. If this is your case, there are two alternatives.
The first is to search for faucet plus the network we are using on Google and see if there is a faucet that sends us tokens. Faucets are platforms that send a small amount of the network’s native token to help people who find themselves in this situation. For example, if you search for Polygon faucet, and you find a faucet that works, you will receive a small amount of Matic in your wallet in order to make a transaction. This is a very good alternative, but keep in mind that many faucets run out of stock or don’t work at all.
The other way is to ask another user to send you a small amount of the network’s native token. You can look for this in Telegram groups or if you are in a community, ask other users to help you solve this problem. Especially in networks with very low commissions such as BSC, Fantom, SOL, you will see that many users will have no problem in helping you and send you a small amount so you can make the transaction.
I hope this has helped you to solve the problem of insufficient funds in Metamask. Remember that if you don’t have an account with Binance, you can create one just below.
Find more Metamask guides below
Learn how to fix different Metamask Errors below
Configure different networks in Metamask with our guides