The ease of moving money around with cryptocurrency is something that I have personally started to take for granted. To be able to type in an address of seemingly random numbers and have 'magic internet money' appear in a matter of minutes (sometimes seconds) is an incredible reality when thinking about how difficult the alternatives are. Where before you had to send money via wire transfer or use a third party service such as Western Union, you can now transact faster than ever before and even save a lot of money in the process.
Though there are some networks that are incredibly expensive to transact on such as Ethereum and now Bitcoin is catching up slowly, there are numerous networks that are very very cheap to use. There are more options than the one's that I am offering here, but I wanted to give some options that I have personal experience transacting on.
Five Cheap Crypto Networks I Have Used:
5. Bitcoin Cash
BCH has great transaction fees that have been bouncing around between 5 and 10 cents on average; often times this is even less. Payouts that I get from Read.cash go through instantly and are done for often around 2 or 3 cents.
4. Litecoin
Similar to Bitcoin Cash, Litecoin is also incredibly affordable to transact on with fees hanging around 10 cents on a consistent basis. Litecoin is also seen as one of the three crypto "OG's" so there are a lot of vendors that accept it as a payment; easy for you and easy for them, a win-win.
3. Stellar Lumens
The transaction fee on the Stellar network is set at .00001 XLM or around $0.0000044 USD at the time of writing this. I was inspired to write a little post about this because I just transacted with Stellar and it was done so quickly and cheaply that it brought a smile to my face and to my wallet.
2. EOS
EOS prides itself on having no fees. Similar to Stellar, the costs to transact on the EOS network are so close to zero that they just say it is free (it really basically is). EOS seems to have great technology and has caught the eye of companies such as Apple; if something is so cheap and efficient, it is definitely something to consider using.
1. Hive
Last we have the beautiful network of Hive. Transactions are instant, seamless, trustless and free. Hive is the future of blockchain technology and of social media; sending value via Hive is a use case that is not typically thought of when looking at the platform, but it surely is possible and is incredibly affordable as well.
Other notable networks that are super cheap to use include Cardano, XRP and Nano. Do your own research, but for sure Ethereum is not the best way to send crypto right now.
Let me know if there are networks that are even cheaper! I'd love to hear about them!
@mariosfame gif once again, I love it
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I thought I heard some rumors about how you can't transfer large amounts of BCH and have to cut apart transactions. Do you know if its true.
I like HIVE the most due to the free transactions.
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I don't think I've heard that rumor at all. Perhaps that is referring to input output on their blockchain explorer. When I withdrawal from exchanges, it sometimes breaks the amount down into smaller transactions, but ultimately arrives at the same time as they are validated on the same block.
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my guess is that this is reference to the limit on the number of transaction inputs. so if your wallet has a lot of seperate transactions received, or 'coins', you may not be able to send the full value all at once.
the same is true for Bitcoin, but it is much less likely that you'd have enough inputs for it to matter, as transaction costs are much higher, so most users send larger amounts, so fewer 'coins' to be managed.
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Nice list @rob23! Apart from being cheaper, these networks are one of the fastest too which is great.
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Agreed! The speed paired with cheap pricing makes these networks elite
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Hive is a leader in that realm. Just have some HP and it is free.
And soon it will be "just get some resource credits from the pool" and transact all you want.
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Can't wait for that fork to take place, I will be funding new Hive accounts on @dunksocial personally so that I don't have to explain the Hive power to post issue to new users.
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I hold BCH as well as HIVE . Hive is the best lol , imagine the drip coins on any other network ? It wouldn't have been possible at all .
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Hive really is the best, I think that BCH could be huge due to name recognition, but once Hive is discovered by the general public it will be hugeeee
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If I'm having to move funds between exchanges (as I'm Canadian and funding half of the exchanges available is shit for us Canuks) I usually use XRP for the move. Quick and cheap. I'll definitely be checking out Stellar next time though as that's an absurdly low fee.
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XRP is great as well. I kind of stopped using it when they had their regulatory issue, but it was what I was using before using XLM. The fees are super low either way it is hard to go wrong.
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I use HIVE mostly but another one that works well is the Ethereum 2d layer network Polygon (MATIC).
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I just wrote about Polygon, I think it will be huge for ETH.
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I will have to go take a look at your post.
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Your post was promoted by @finguru