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.
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.
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.
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.
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.
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!
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My name is Rob and I am a college student doing my best to get involved in the crypto world. I have enjoyed blogging thus far and thank you for reading my article! Give me a follow and let’s build the community together through consistent engagement.
