Crypto transaction fee is the fee that is received when transferring cryptocurrency from one address to another. This fee is required to confirm the transaction on the blockchain. These fees vary from coin to coin and they depend on several factors such as network congestion and so on. So most people are looking for a coin with the lowest fees to be able to register their transactions in the network. In the following, we will review some of these cryptocurrencies that receive low fees from users and compare to cryptocurrencies like Ethereum, their fees are cheaper. Also, if you are looking for complete guidance on crypto transaction fees, we have reviewed it in full in this post.
Our first option on this list is Nano. a cryptocurrency without transaction fees.
Nano
You might be surprised, but Nano is a zero-fee cryptocurrency and uses the consensus mechanism. You might think that zero fees cause Nano transactions on the network to be delayed, but you are wrong. A transaction on the Nano network can be confirmed in 0.14 seconds. Also, Nano has no inflation and your assets are not constantly declining and that could be an advantage for Nano cryptocurrency. You can experience the cheapest transaction fee using Nano cryptocurrency.
Dash
Dash cryptocurrency is another coin that receives low transaction fees from users. Also, Dash is a coin of a fork of Bitcoin and started its activity as a privacy coin. Dash’s fees are very low and are known as coins with almost zero fees. This fee is about (0.00000264 DASH) 0.0005 USD and this coin is more profitable than other money transfer methods.
Bitcoin Cash (BCH)
Bitcoin Cash is known as a fork of Bitcoin, which has a much lower transaction fee than Bitcoin. The reason for this feature is that Bitcoin Cash performs more transactions in a single block. The Bitcoin Cash transaction fee is around 0.00000264 BCH (0.0015 USD).
Litecoin
Litecoin is another Bitcoin fork and is a peer-to-peer currency. Also, the Litecoin transaction fee is about 0.00008022 LTC (0.0166 USD) which is relatively good.
Bitcoin SV (BSV)
Bitcoin SV as a fork of Bitcoin Cash, increased the block size to be able to process more transactions and this feature has reduced the transaction fee. Also, the Bitcoin SV transaction Fee is around 0.00000264 BSV (0.0004 USD) and Bitcoin SV also has about 3% inflation.
XRP
XRP can be considered as a low-fee option. the transaction fee is currently 0.000012 XRP (0.0000 USD) and it takes very little time to confirm the transactions of this coin in the network. So XRP can be a cost-effective option for you.
Stellar
If you are looking for a coin with fast and cheap transactions, Stellar is the best option for you. The stellar transaction fee is about 0.00001 XLM (0.0000 USD) and the approximate time to register transactions on the network is 4 seconds.
Digibyte
Digibyte is another coin on this list. The Digibyte transaction fee is about 0.00017644 DGB (0.0000 USD) but has 8% inflation and that means your assets will lose value over time.
Solana
Another cryptocurrency with a low transaction fee is the Solana. The Solana network is one of the fastest with a low transaction fee for users. The SOL transaction fee is currently around (0.00025 USD).
Conclusion
Transaction fee has become quite a hot topic issue in transactions today and with the high fees on cryptocurrencies transfers on the Bitcoin and Ethereum networks, many people are converting their own cryptocurrencies to other cryptocurrencies with the lowest transaction fee. This allows people who register many transactions daily and weekly on the network to pay less and make more cost-effective transactions on the network.