The market competition between cryptos is fierce, especially for new coins on the block, leading to several promotions tied around “low transaction fees”. Basically, on the surface, every cryptocurrency offers the lowest transaction fees according to the founders, but in reality, this is obviously not so. Today, it has become very difficult to find the cryptocurrencies with the lowest transaction fees as they all claim to have the lowest. But with the right information at hand, you can separate the “marketers” from the “value offers”.
For sure, we can’t deny the fact that investing in cryptos with low transaction fees can considerably increase your returns, especially if you trade high volumes. Interested in learning about cryptocurrencies with low transaction fees? This guide compiles the top 17 you need to know.
What is a Crypto transaction fee?
Essentially, a crypto transaction fee is a cost that crypto traders incur when they transfer crypto tokens from one account to another. Before a transaction passes and gets recorded on the blockchain, a specific transaction cost will be deducted from the user’s account. This transaction cost varies depending on the type of cryptocurrency being transferred. The major aim of a cryptocurrency transaction fee is to ensure that the transaction is authorised to keep the correlating platform running and evolving into secure transactions.
Top 17 Cryptocurrencies with low transaction fees
Below, we’ve provided a list of the best 17 cryptocurrencies with low transaction fees that you can find in the market. Read through the list and invest in the most suitable option for you.
1. Stellar (XLM)
XLM is an open-source payment technology that was created by Jed McCaleb, and is one of the best cryptocurrencies with low transaction fees. Essentially, this platform is specially designed to send financial resources fast and reliably at a low cost. Every transaction users execute on this platform cost only 0.00001 XLM. The extremely low fees make Stellar one of the leading crypto tokens with low transaction fees in 2023. The founder of this platform, Jed McCaleb, is also the co-founder of another popular cryptocurrency exchange, Ripple.
2. IOTA (IOTA)
We consider IOTA one of the most eco-friendly cryptocurrencies you can find today. It was established by the IOTA Foundation, which is a non-profit organization that is based in Berlin. This Foundation currently heads the growth and development of the IOTA token.
Essentially, this token is known for having an “open and feeless data and value protocol”. This means that the coin doesn’t charge its users any transaction at all. Also, there are no miners on this network and each transaction users initiate on this network can be completed without the need of any serious computing power. This also rules out any need to pay a gas fee.
Since this coin is without a transaction fee, the demand drives its price. As users of this network complete more transactions, it keeps getting faster. Also, transaction confirmation times are still quite low, averaging between about 10 and 12 seconds.
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3. Tamadoge
The Tamadoge project is designed using the most suitable blockchain practices, which makes it eligible for transacting at a low cost. In fact, all transactions executed using TAMA, Tamadoge’s native token, come with zero fees. This project, which is one of the latest from the Metaverse blockchain certainly promises users low transaction fees and much more.
4. NANO (NANO)
Just like the IOTA token, NANO doesn’t charge its users any transaction fee. Also, all transactions on this network are validated and completed in just a second, which makes it an incredible cryptocurrency for people who want to transfer huge sums of cash quickly.
On this platform, each user is allowed to operate their own blockchain that they can easily grow, unlike in a regular blockchain where miners compete against themselves to add blocks.
This feature is called the Block Lattice. The Block Lattice feature makes NANO better, more transparent and scalable without negatively affecting the network.
5. Cardano (ADA)
Cardano is an extremely popular cryptocurrency that is known for its fast, very scalable, and eco-friendly network. However, this crypto still charges its users a sizable transaction fee compared to other tokens on this list. Currently, ADA charges a transaction fee between 0.15-0.18 ADA.
The Cardano blockchain has gained a lot of attention from crypto enthusiasts due to its fast development. With a solid foundation, considerably low transaction fees, and practical applications, this token has quickly become one of the most prominent crypto tokens in the DeFi community.
6. Litecoin (LTC)
This token was created by Charlie Lee in October 2011, which makes it one of the oldest coins in existence. Essentially, LTC was designed to provide an almost-instant peer-to-peer crypto exchange of value at cheap costs. For this reason, it has very low transaction fees of about USD 0.007. However, unlike other tokens on this list, Litecoin’s processing times are quite slow, with each transaction users make taking about 2 minutes to get completed.
Due to the similarities between Litecoin and Bitcoin’s protocol, Litecoin is sometimes called “Bitcoin Lite”.
7. Battle Infinity
The next on our list of cryptocurrencies with low transaction fees is Battle Infinity. Battle Infinity is one of the most promising metaverse blockchains that was launched in 2022. Essentially, the project was developed by a group of experts from India, who are key players in the crypto industry. The token was developed on top of the Binance Sensible Chain, which unlocks all of its possibilities and features. Currently, this token has a transaction fee of about $0.0007 USD, making it one of the tokens with a low-cost transaction.
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8. Dash (DASH)
Dash, short for “Digital Cash,” is another token that is becoming increasingly popular amongst crypto investors, traders, and users. The average transaction fee for this coin is between the range of $0.2 and $0.3, which is incredibly cheaper than Bitcoin.
More importantly, the transaction speed on Dash is something to talk about, as the token is well known for its fast transaction speed. Today, many merchants and crypto exchanges accept Dash, which makes it an appealing option for crypto investors.
9. Tron (TRON)
An open-source blockchain network, Tron, was designed primarily for content creation and entertainment. This network was founded in March 2017 by crypto entrepreneur, Justin Sun with the purpose of decentralising the web. Also, this network has launched its own stablecoin, called the USDD, which has quickly gained a reputation in terms of market capitalisation.
As for Tron’s transaction fees, they are negligible since you will only have to $0.000005 whenever you execute a transaction.
10. EOSIO (EOS)
EOSIO is another open-source blockchain platform that was designed to develop and support digital infrastructures. As a crypto token, the EOS is also very popular. Its first coin offering raised about $4.1 billion in 2018 when the coin was first established.
As for the transaction fee of EOS, there is good news. You don’t have to bother about paying any transaction fees when trading EOS. Nevertheless, you will need to use some fundamental resources, such as RAM, CPU, as well as your network bandwidth to authorize the purchase. Even at this, transaction fees for this token are virtually negligible.
11. Zilliqa (ZIL)
Zilliqa is a blockchain platform that was designed mainly to supplement the DeFi community and creator economy. Essentially, this platform allows blockchain developers to begin building DApps seamlessly on their platform and use the ZIL coin.
Currently, the transaction fee for this network is 0.1 ZIL, which means you’ll be paying less than one cent for each transaction.
12. Ethereum Classic
This coin was established in July 2016 and is a hard fork of Ethereum. It functions as a smart contract network, possessing the capacity to host and provide support to decentralized applications (DApps). Since its creation, Ethereum Classic has strived to distinguish itself from Ethereum, with both networks’ technical roadmaps separating further and further from themselves with time. Its native crypto token is ETC.
13. Digibyte (DGB)
Digibyte is a fast-developing open-source blockchain platform that is well-known for its decentralized nature. Blocks are mined on this platform every 15 seconds, allowing about 1066 on-chain transactions in just a second.
Also, the transaction fee for DGB is also extremely low, at $0.0005 for each transaction users make. It’s a proof-of-work token, so it’s very eco-friendly. Nevertheless, it takes about five minutes to verify a transaction on this blockchain.
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14. Vertcoin (VTC)
Vertcoin employs a proof-of-work consensus to offer its users mining rewards and develop new coins. Essentially, the average transaction fee for this token is roughly 0.0027 VTC, which makes this coin one of the lowest you can find in the industry.
Another way to mine Vertcoin is through their simple mining tool, however, you must note that this coin is a basic GPU Bitcoin variant. Hence, it mirrors the growth of Bitcoin in general.
15. Dogecoin
Dogecoin is another cryptocurrency that has drawn a lot of attention recently. In fact, it is used by well-known celebrities like Elon Musk. Besides being launched as joke money, this token has evolved into a very respectable cryptocurrency with a reasonable user base. One of the notable benefits of this coin is its low transaction costs, which make it an excellent choice for microtransactions.
16. Ripple (XRP)
Ripple is a cryptocurrency that was specially designed to improve the global payments system, making it easier for users to transfer large amounts within a shorter time frame.
The average transaction on this platform takes between 3-5 seconds to resolve, and the transaction fee is roughly $0.00265. Most importantly, Ripple became legitimized by partnering with different prominent organizations, including American Express, the Royal Bank of Canada, and the well-known Bank of America.
17. Bitcoin Cash
Bitcoin Cash is a branch of Bitcoin that was created to
handle the scalability problems that occurred with the original Bitcoin network. Bitcoin Cash features a far greater block size limit, which allows more transactions to be conducted per block, enhancing the overall speed and efficiency. For this reason, the Bitcoin Cash network has more affordable transaction fees than the original gBitcoin system. This makes it a preferable option for executing small transactions.
Even though there are numerous cryptocurrencies with low transaction fees, you must be careful when buying and investing in cryptocurrency. While digital coins have come a very long way in the past, you should still exercise caution before investing your money into any of them, especially the ”less popular” ones without much market adoption.
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