Prior to BCH's introduction on Coinbase last month, ethereum and litecoin were the go to cryptos for quick and cheap transactions. Little did I know that Bitcoin Cash would have fees under around a penny or less.
Bitcoin Cash is currently added as a pair on KuCoin, an up and coming exchange.
A low-fee cryptocurrency on a major exchange. 1-22-2018
On blocktrades, we are able to exchange Steem Dollars into:
This is how I would classify them.
Cryptocurrency---------------------Fee Level
I highly recommend conversions to Dash or Bitcoin Cash to receive lower fees.
Dogecoin works with low fees also, but it is very volatile and unreliable.
BitShares has small fees as well, but this is an older project I am not researching at the moment. EOS has grabbed more attention among Dan Larimer's projects.
LiteCoin works but some fees are in the multi penny range. I will provide screenshots for these as I find them, but for now, let's assume BCASH and DASH have the lowest fees. Let's check that fact.
I will provide a screenshot of the DASH transaction of converting ~$5 SBD
fee in USD:$0 .0004292 cents = .00000756 DASH as of 1-22-2018
USD Fees: .000007 cents = .00002 BCH per KB X fee .373 bytes as of 1-22-2018
I only got a return of $0.33 cents USD when I convert SBD to Ethereum. Over $2 USD of fees were charged for my blockchain transaction. Blocktrades for ethereum should only be transacted for large quantities.
USD Fees $2.43 = 115 GWEIs (Gas Unit)
Convert to Bitcoin Cash or Dash. Bitcoin Cash probably has the most utility now it is introduced as a pair on KuCoin. It has fees paralleling Dash, and Dash also has a high chance of being introduced on Coinbase. For these two reasons, I highly recommend trading BCH and DASH if you believe the cryptocurrencies have in impending pump.
The fees are too low to miss this opportunity. Blocktrades is a great platform, but it does not have a variety like Shapeshift. I may talk about Shapeshift in another blog, but Blocktrades is a platform worth looking at if you are using Steem.
BCH isn't so bad. Try to give Roger Ver some slack guys. It has some more adoption now with Kucoin and Coinbase. It is essentially trading with no fees. This is a big pros! DASH would have to be my favorite of the two coins, since it's more original with it's masternode structure. DASH also has a lot of marketing and potential on Coinbase.
If you haven't already done so. I highly recommend checking out KuCoin Exchange and Blocktrades Exchange!
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