Want to save on transaction fees when using cryptocurrency? Here are some cryptocurrencies to consider. Cryptocurrencies have become an important part of our lives. Cryptocurrencies are now the hottest investment option out there. You can buy different types of cryptocurrency from various crypto exchanges.Once you’ve done it, it’s easy to trade with them. All the major cryptocurrencies are available in crypto pairs. However, one thing that irks many cryptocurrency traders is the relatively high fees charged by popular cryptocurrencies. Fortunately, there are several cryptocurrencies which charge a remarkably low transaction cost.
1. Stellar (XLM)
Stellar is one of today’s hottest cryptocurrencies to invest in. The Stellar blockchain is extremely fast, and transactions are verified and settled within just a few seconds. The average transaction cost for Stellar transactions is also jaw-droppingly small, coming in at just $0.00001 Lumen (one millionth of one lumens). This means that you will be paying roughly $0.000035 per transaction based on Lumen’s current pricing. One of the main reasons why people choose Stellar is because they want to transfer large amounts of money online.Stellar is also the best cryptocurrency for beginners.
2. IOTA (IOTA)
One of the most environmentally friendly cryptocurrencies on this list is IOTA. It is described as an open and feeless data and currency transfer protocol. The IOTA Foundation is a non-profit organization headquartered in Berlin, Germany. It heads development of the IOTAs token. It doesn’t charge any transaction fees at all.
There are no miners involved in the IOTA network. Transactions can be completed without requiring any serious computing power. It also means that there’s no need to pay any gas fees. With no transaction fee, what would drive the price of this token if there were no transaction fees? Demand is the answer. With each transaction completed, the network gets faster. It’s important to note that the average confirmation time for Bitcoin transactions is still relatively low, at around 10 to 12 seconds.
3. NANO (NANO)
Nano does not charge any transaction fees. Transactions are validated and finalized in the second, making it a fantastic currency to use for people who want to move large amounts of money quickly. Unlike the conventional blockchain, where miners compete against each other to add new blocks, each user on Nano operates his or her own blockchain that he or she can grow. NANO calls it the Block Lattice. This makes Nano more transparent and scalable, but doesn’t affect its ability to be used for payments.
4. Cardano (ADA)
Cardano is a very popular cryptocurrency that is extremely fast, extremely scalable, and above all eco-friendly. Compared to the names above, however, ADA still charges a hefty transaction fee, which is usually between 0.15- 0.18 ADA. Cardano’s blockchain has attracted quite a lot of attention because of its fast development. Goguen developed smart contracts for Cardano, which let users build decentralized applications (DApps) on Cardano’s highly secure blockchain. Cardano has quickly become a popular cryptocurrency among the DeFi community. It offers low transaction fees, practical uses, and a solid foundation.
5. Litecoin (LTC)
Litecoin was originally developed for payments, so the developers have taken steps in order to keep the transaction fees low.On average, the cost of a Bitcoin transaction is around $0.007 USD, and it usually takes between two and three minutes to settle each transaction. Litecoin is also quite popular because it’s one of the older cryptocurrencies in the market today. It’s virtually identical in terms of its functionality to Bitcoin, which is why there has been consistent demand for it ever since it was first released