Cheapest Crypto to Transfer to Your Wallet With Close To Zero Transaction Fees

Blockchain technology has transformed financial transactions and provides incredibly low-cost options for users. Now, numerous cryptocurrencies enable one to move substantial sums of money with relatively low fees. Today, we will find out with Coincu what the cheapest crypto to transfer to your wallet is with close to zero transaction fees.
Cheapest Crypto to Transfer to Your Wallet With Close To Zero Transaction Fees

Which Is the Cheapest Crypto to Transfer?

Cryptocurrencies create a borderless, unrestrained means of carrying out digital transactions, running through the day with very few limitations, depending on transaction fees. Nevertheless, the major cryptocurrencies such as Bitcoin and Ethereum are highly scrutinized and criticized because of their high transaction fees.

Indeed, there is still an attraction towards cryptocurrencies, as there are numerous other options that offer cheaper transfer fees. If Bitcoin and Ethereum prove too costly for their transactions, then there is still an alternative in the market. Following is a list of cryptocurrencies that offer cheaper transfer fees:

1. Nano (NANO)

Nano (NANO) is the number-one coin for cheapest crypto to transfer. With absolutely no transaction costs, its unique architecture does away with any cost barriers, making the coin perfectly fit for micro-transactions and general use.

Renowned for feeless transactions, Nano proves that expensive crypto transactions can really go away without sacrificing the integrity of the coin.

Cheapest Crypto to Transfer to Your Wallet With Close To Zero Transaction Fees

The coin carries out the transaction faster, with instant speed, making real-time, fee-less payments, something that really favors small and frequent transfers by the removal of cost barriers. Furthermore, Nano’s network is low on energy and extremely efficient, which makes it a very sustainable kind of cryptocurrency.

  • Average transaction fee: $0
  • Average transaction speed: Almost Instant

2. Stellar (XLM)

Stellar (XLM) is a cryptocurrency born as a fork from Ripple (XRP). The project was co-founded by Jed McCaleb, a member of the original founders behind XRP. In fact, on the Stellar blockchain, the native asset is called lumens and it uses a consensus algorithm much like XRP’s, to provide cheap and quick transactions. XLM is also on the list of cheapest crypto to transfer candidates.

Stellar is one of those very few blockchains with really low fees and fast transaction times. A minimal fee for a transaction on the Stellar blockchain is 0.00001 XLM, meaning that, in theory, 1 XLM is able to conduct 100,000 different transactions.

As a rule, users pay an average of 0.0001 XLM per operation to ensure that the ledger closes their operations in a timely manner, which is still very cheap. Further supported by the Stellar Consensus Protocol, the cost of one transaction on Stellar is only $0.0000035, making Stellar one of the cheapest options on the whole of the cryptocurrency market.

Cheapest Crypto to Transfer to Your Wallet With Close To Zero Transaction Fees

The Stellar Network also supports DEX functions, which allow efficient trading on a distributed ledger. For instance, StellarX can be used to trade XLM against numerous fiat currencies and other cryptocurrencies. Finally, XLM is a very effective form of digital currency for spending, and it allows users to do just that in very few steps, making it very versatile and efficient.

  • Average transaction fee: $0.0000035
  • Average transaction speed: 3-5 seconds

3. ReddCoin (RDD)

Now, crypto investors who have fun supporting their favorite vloggers and streamers can do so efficiently and cost-effectively, with ReddCoin (RDD) in 3rd place for the cheapest crypto to transfer. It is the digital social currency that makes the process of giving tips much easier, allowing users to show appreciation for their social media content creators.

Cheapest Crypto to Transfer to Your Wallet With Close To Zero Transaction Fees

ReddCoin has an average transaction fee of $0.000073. With the low cost, this cryptocurrency enables fans to tip their favorite creators without incurring big expenses. ReddCoin enables fans and supporters to throw their support where their love takes them at a very cheap rate and easily.

  • Average transaction fee: $0.000073
  • Average transaction speed: 60 seconds

4. Monero (XMR)

Boasting some of the highest security features in its class at a fraction of the cost, Monero (XMR) is known for its increased privacy and built-in anonymity. Each transaction costs just $0.00014, saving you from expensive wire transfer fees and losing money from price depreciation while holding the asset for a longer time. Monero is simple, private, and privacy-oriented. It offers some of the lowest transaction fees in the crypto world.

Monero is self-proclaimed as the best privacy coin by market capitalization. Monero has taken up the 37th position by market capitalization among all cryptocurrencies, and the capitalization value is $3.17 billion as of the time of writing. XMR may not be the cheapest crypto to transfer, but its fees are always cheap compared to the average.

Cheapest Crypto to Transfer to Your Wallet With Close To Zero Transaction Fees

To keep the transaction details confidential, Monero uses a number of advanced technologies: Ring Confidential Transactions (RingCT), stealth addresses, ring signatures, and support for Tor and I2P networks. These mechanisms keep the identities of the sender and recipient of the transaction and the amount transferred unknown to third parties. The robust privacy technologies make XMR coins fungible, meaning that specific coins cannot be traced and blacklisted.

  • Average transaction fee: $0.00014
  • Average transaction speed: 2 minutes

5. Ripple (XRP)

The major difference in Ripple (XRP) is that it was created in 2012 with some special characteristics that are not possessed by other cryptocurrencies. Unlike Bitcoin, it is not connected to Proof-of-Work but instead uses the advanced XRP Ledger Consensus Protocol that allows for quick processing of transactions with a very low cost.

XRP offers different functionality to its clients, such as payment, exchange of assets, and remittances, with one of the most economical transaction fees on earth among cryptocurrencies. With XRP, seamless transfers will only amount to $0.0011 per transaction, which is definitely less than what other cryptos would charge you for the same cause.

Cheapest Crypto to Transfer to Your Wallet With Close To Zero Transaction Fees

Despite Ripple’s branding as the high-fee protocol, the mining process of XRP is rather simplified and includes pre-mining, which determines the cost. This makes XRP one of the cheapest cryptocurrencies on the market for fund transfer investment. XRP is always the cheapest crypto to transfer with top volume in the top 10 cryptocurrencies.

  • Average transaction fee: $0.00014
  • Average transaction speed: 5 seconds

6. Bitcoin Cash (BCH)

Bitcoin Cash (BCH) is a cryptocurrency created in a “hard fork” from Bitcoin in 2017, a vindication for those who constantly look out for increased decentralization in digital currency. The reason for this was its desire to answer the main shortcomings, which are, first of all, Bitcoin’s scalability problems and secondly, its expensive transactions.

The basic idea behind the development of Bitcoin Cash was to present a better solution to Bitcoin’s energy-consuming mining process by increasing transaction throughput with the help of bigger blocks. It meant that blocks would be created bigger in order to accommodate more transactions, which would, in turn, lower fees and times. Compared to Bitcoin, Bitcoin Cash is worthy of being the cheapest crypto to transfer in the Bitcoin ecosystem.

Cheapest Crypto to Transfer to Your Wallet With Close To Zero Transaction Fees

The other idea behind Bitcoin Cash was to up its transaction speed, which it has done and has further supported leading BRC-20 tokens like CashToken, making it also multifunctional. BCH transaction fees are also very low; users are charged an average of only $0.0024, a price at which one can actually make transfers with this amount.

  • Average transaction fee: $0.0024
  • Average transaction speed: over 10 minutes

7. Dash (DASH)

Dash, which launched at the beginning of 2014, has since become a player to look out for. It provides a clear mixing of Proof-of-Work mining with master nodes to give the opportunity to use “digital cash” for paying in the digital economy. DASH is near the bottom of the list of cheapest crypto to transfer but don’t judge this, it is always the top choice for traders.

However, one of the most salient features of Dash is a focus on privacy. By using its PrivateSend function, it is possible that users can obscure the origin of their DASH coins. This feature improves privacy for transactions performed on the Dash network. In addition, Dash is fitted with InstantSend technology, which makes possible the very fast confirmation of the transactions by the Dash master node network—just a few seconds.

Cheapest Crypto to Transfer to Your Wallet With Close To Zero Transaction Fees

Some investors have accused Dash of being centralized due to its treasury system, but this is not at all true. Besides, it manages to achieve very low fees; the average fee for a single Dash transaction is only $0.0043. These privacy features, combined with extremely fast transaction processing and very low fees, make Dash a realistic candidate for a strong cryptocurrency.

  • Average transaction fee: $0.003
  • Average transaction speed: 3 seconds

8. LiteCoin (LTC)

Litecoin (LTC), a digital currency created by Charlie Lee in 2011, still manages to be competitive in the fast-evolving digital money market. As one of the earliest altcoins in the market, Litecoin hasn’t really lost its relevance, and the looming halving will add to the coin’s attractiveness among investors.

Despite similarities to Bitcoin, Litecoin has a number of fundamental differences: it uses the Scrypt hashing algorithm, and its block times are four times faster. The maximum supply is also four times larger than that of Bitcoin.

Cheapest Crypto to Transfer to Your Wallet With Close To Zero Transaction Fees

While the number of newer competitors continues to grow, Litecoin remains one of the most affordable options for transactions within the cryptocurrency space. Litecoin transaction fees can be as low as $0.03 to $0.04 per transaction, presenting a much more attractive option than some other available methods within the crypto sphere, which often carry fees with high volatility.

A big reason for the low cost of transactions in Litecoin is the network structure itself. Some competitors are structured in such a way that higher transaction fees are required to incentivize miners, an issue completely avoided by Litecoins nature as a network. LiteCoin is the last name of the candidates for the cheapest crypto to transfer. LTC transaction fees may be the highest on this list, but compared to other coins or tokens, LTC is a great choice.

  • Average transaction fee: $0.03-$0.04
  • Average transaction speed: 2-3 minutes

Readmore: Top 5 Best Litecoin Casinos In 2024

What Is Crypto Transaction Fee? 

Crypto transaction fees are very essential in the field of digital assets and are charged when you transfer your crypto funds from one address to another or in the process of trading on a crypto exchange, decentralized or centralized. These fees help incentivize miners and validators to continue to work on securing the blockchain network.

The fee amount extremely varies and depends on the respective cryptocurrencies transferred and how much pressure the network is facing in terms of demand. For instance, during heavy congestion, transaction fees can skyrocket and raise issues for users making transfers that are economical.

Now, knowing the different kinds of fees and how to save money can enable someone to go through different types of crypto transfers. If one knows the different kinds of fees and plans ahead to cut costs, crypto transfers can be administered.

Readmore: Top 5 Best DeFi Wallets You Should Use

Transaction fee comparison

Transaction fees are one of the most important aspects to consider when using cryptocurrencies on a daily basis. In a positive light, most of the listed cryptocurrencies offer quite low transaction fees, hence making them usable for a larger share of the public. Note, however, that the fees and speeds can vary based on the network’s current conditions.

Cryptocurrency users always look for projects with low transaction fees, and the following comparison can give them an idea of which to stick with:

CryptoNative TokenMarket CapAverrage Transaction FeeAverrage Transaction Speed
NanoNANO$173,362,449FreeAlmost Instant
StellarXLM$3,069,240,774$0.00000353-5 seconds
ReddCoinRDD$21.6M$0.00007360 seconds
MoneroXMR$3,197,437,508$0.000142 minutes
RippleXRP$29,090,920,875$0.00115 seconds
Bitcoin CashBCH$10,098,325,117$0.0024Over 10 minutes
DashDASH$358,322,182$0.0033 seconds
LiteCoinLTC$6,266,416,397$0.03 to $0.042-3 minutes

How do you save on crypto transaction fees? 

While most cryptocurrency transactions can be costly, they can generally be managed, and at the end of the day, a lot of savings can be made from these costs. If you cannot choose the cheapest crypto to transfer, choose the following ways to optimize transaction fees:

  • Transfer crypto when the network is stable: When the network is congested, fees for transactions really shoot up. If your transaction is not time-sensitive, just wait until congestion subsides and fees go back to normal. Although it might test your patience and could take days, a lot of times, this is how you end up saving a lot of money.
  • Internal crypto exchanges across platforms: Most of the crypto exchanges now provide an internal transfer service. Using this, the platform users can transfer money from one account to another within the same platform with very minimal or zero fees. If you’re transacting with friends or business partners on a regular basis, you might consider making accounts at the same exchange and using them to pass cryptocurrencies around with a next-to-nothing fee.
  • Using layer 2 solutions: Layer 2 solutions consist of moving certain operations off the main blockchain, which reduces congestion and cuts down on the associated transaction costs. This allows users to benefit from low fees and fast processing times by offloading transactions to secondary layers like sidechains or payment channels, all the while benefiting from the security of the underlying blockchain.
  • Choose cheaper cryptocurrencies: Not all cryptocurrencies are created equal when it comes to transaction fees. Consider using alternative, cheaper-to-transact-with cryptocurrencies, such as XRP.

Find a Cheapest Crypto to Transfer with Lowest Transaction Fees

Although the appeal of potential profit is what drives many into the crypto market, one has to put into perspective the importance of transaction fees for preserving gains and overall portfolio value. High transaction costs cut into profits or reduce the value of the funds, eating into the success of investment endeavors.

This is the reason why investors need to be on the lookout for the cheapest crypto to transfer to help maximize investment strategies. In this way, an investor can reduce the costs of investing and keep more of his hard-earned money in his pocket. However wise investors will decide what kind of cryptocurrencies to invest in, given the impact that transaction fees have on returns and balances.

Readmore: Best Places To Buy Bitcoin Without ID That You Should Know

Conclusion

As more individuals incorporate digital assets into their financial portfolios and businesses streamline operations with cryptocurrencies, finding the cheapest crypto to transfer is essential. No one wants to incur unnecessary expenses when transferring funds between wallets.

Identifying the cheapest crypto to transfer can be challenging, given the variance in fees across different projects. However, you must also consider transaction speed and other factors to optimize your profits.

FAQs

What is the cheapest crypto to withdraw?

Cryptocurrencies like Stellar (XLM), Ripple (XRP), and Nano (NANO) have been recognized for their low transaction fees and fast confirmation times. These are candidates in the list of cheapest crypto to withdraw.

What Types of Cryptocurrency Transaction Fees?

Here are some common types of transaction fees in the cryptocurrency space:

  • Network Transaction Fees: Paid to miners or validators for processing transactions.
  • Exchange Withdrawal Fees: Charged by exchanges for withdrawing cryptocurrency.
  • Smart Contract Fees (Gas Fees): Paid for executing smart contracts on networks like Ethereum.
  • Internal Transaction Fees: Fees for transactions within a blockchain network.
  • Wallet Service Fees: Charges for services provided by cryptocurrency wallets or platforms.
  • Staking Fees: Fees for staking services in proof-of-stake networks.

What crypto has the lowest fees?

Based on our comparison table, Nano deserves to be the crypto with the lowest fees.

Is it cheaper to send BTC or ETH?

The cost of sending Bitcoin (BTC) or Ethereum (ETH) can vary depending on factors such as network congestion, transaction speed, and the specific circumstances of your transaction. Historically, Ethereum transactions have tended to be cheaper and faster compared to Bitcoin due to Ethereum’s faster block times and lower transaction fees on average.

Are trading fees the same as transaction fees?

No. Trading fees are charged by cryptocurrency exchanges for executing trades on their platforms, while transaction fees are paid for processing transactions on a blockchain network.

Can I trade crypto without paying trading fees?

Yes, it’s possible to trade cryptocurrencies without paying trading fees, but it depends on the platform you use and the specific circumstances.

Which crypto wallet has no fees?

All crypto wallets have an associated fee that you pay, such as fees when sending or receiving cryptocurrencies.

Cheapest Crypto to Transfer to Your Wallet With Close To Zero Transaction Fees

Blockchain technology has transformed financial transactions and provides incredibly low-cost options for users. Now, numerous cryptocurrencies enable one to move substantial sums of money with relatively low fees. Today, we will find out with Coincu what the cheapest crypto to transfer to your wallet is with close to zero transaction fees.
Cheapest Crypto to Transfer to Your Wallet With Close To Zero Transaction Fees

Which Is the Cheapest Crypto to Transfer?

Cryptocurrencies create a borderless, unrestrained means of carrying out digital transactions, running through the day with very few limitations, depending on transaction fees. Nevertheless, the major cryptocurrencies such as Bitcoin and Ethereum are highly scrutinized and criticized because of their high transaction fees.

Indeed, there is still an attraction towards cryptocurrencies, as there are numerous other options that offer cheaper transfer fees. If Bitcoin and Ethereum prove too costly for their transactions, then there is still an alternative in the market. Following is a list of cryptocurrencies that offer cheaper transfer fees:

1. Nano (NANO)

Nano (NANO) is the number-one coin for cheapest crypto to transfer. With absolutely no transaction costs, its unique architecture does away with any cost barriers, making the coin perfectly fit for micro-transactions and general use.

Renowned for feeless transactions, Nano proves that expensive crypto transactions can really go away without sacrificing the integrity of the coin.

Cheapest Crypto to Transfer to Your Wallet With Close To Zero Transaction Fees

The coin carries out the transaction faster, with instant speed, making real-time, fee-less payments, something that really favors small and frequent transfers by the removal of cost barriers. Furthermore, Nano’s network is low on energy and extremely efficient, which makes it a very sustainable kind of cryptocurrency.

  • Average transaction fee: $0
  • Average transaction speed: Almost Instant

2. Stellar (XLM)

Stellar (XLM) is a cryptocurrency born as a fork from Ripple (XRP). The project was co-founded by Jed McCaleb, a member of the original founders behind XRP. In fact, on the Stellar blockchain, the native asset is called lumens and it uses a consensus algorithm much like XRP’s, to provide cheap and quick transactions. XLM is also on the list of cheapest crypto to transfer candidates.

Stellar is one of those very few blockchains with really low fees and fast transaction times. A minimal fee for a transaction on the Stellar blockchain is 0.00001 XLM, meaning that, in theory, 1 XLM is able to conduct 100,000 different transactions.

As a rule, users pay an average of 0.0001 XLM per operation to ensure that the ledger closes their operations in a timely manner, which is still very cheap. Further supported by the Stellar Consensus Protocol, the cost of one transaction on Stellar is only $0.0000035, making Stellar one of the cheapest options on the whole of the cryptocurrency market.

Cheapest Crypto to Transfer to Your Wallet With Close To Zero Transaction Fees

The Stellar Network also supports DEX functions, which allow efficient trading on a distributed ledger. For instance, StellarX can be used to trade XLM against numerous fiat currencies and other cryptocurrencies. Finally, XLM is a very effective form of digital currency for spending, and it allows users to do just that in very few steps, making it very versatile and efficient.

  • Average transaction fee: $0.0000035
  • Average transaction speed: 3-5 seconds

3. ReddCoin (RDD)

Now, crypto investors who have fun supporting their favorite vloggers and streamers can do so efficiently and cost-effectively, with ReddCoin (RDD) in 3rd place for the cheapest crypto to transfer. It is the digital social currency that makes the process of giving tips much easier, allowing users to show appreciation for their social media content creators.

Cheapest Crypto to Transfer to Your Wallet With Close To Zero Transaction Fees

ReddCoin has an average transaction fee of $0.000073. With the low cost, this cryptocurrency enables fans to tip their favorite creators without incurring big expenses. ReddCoin enables fans and supporters to throw their support where their love takes them at a very cheap rate and easily.

  • Average transaction fee: $0.000073
  • Average transaction speed: 60 seconds

4. Monero (XMR)

Boasting some of the highest security features in its class at a fraction of the cost, Monero (XMR) is known for its increased privacy and built-in anonymity. Each transaction costs just $0.00014, saving you from expensive wire transfer fees and losing money from price depreciation while holding the asset for a longer time. Monero is simple, private, and privacy-oriented. It offers some of the lowest transaction fees in the crypto world.

Monero is self-proclaimed as the best privacy coin by market capitalization. Monero has taken up the 37th position by market capitalization among all cryptocurrencies, and the capitalization value is $3.17 billion as of the time of writing. XMR may not be the cheapest crypto to transfer, but its fees are always cheap compared to the average.

Cheapest Crypto to Transfer to Your Wallet With Close To Zero Transaction Fees

To keep the transaction details confidential, Monero uses a number of advanced technologies: Ring Confidential Transactions (RingCT), stealth addresses, ring signatures, and support for Tor and I2P networks. These mechanisms keep the identities of the sender and recipient of the transaction and the amount transferred unknown to third parties. The robust privacy technologies make XMR coins fungible, meaning that specific coins cannot be traced and blacklisted.

  • Average transaction fee: $0.00014
  • Average transaction speed: 2 minutes

5. Ripple (XRP)

The major difference in Ripple (XRP) is that it was created in 2012 with some special characteristics that are not possessed by other cryptocurrencies. Unlike Bitcoin, it is not connected to Proof-of-Work but instead uses the advanced XRP Ledger Consensus Protocol that allows for quick processing of transactions with a very low cost.

XRP offers different functionality to its clients, such as payment, exchange of assets, and remittances, with one of the most economical transaction fees on earth among cryptocurrencies. With XRP, seamless transfers will only amount to $0.0011 per transaction, which is definitely less than what other cryptos would charge you for the same cause.

Cheapest Crypto to Transfer to Your Wallet With Close To Zero Transaction Fees

Despite Ripple’s branding as the high-fee protocol, the mining process of XRP is rather simplified and includes pre-mining, which determines the cost. This makes XRP one of the cheapest cryptocurrencies on the market for fund transfer investment. XRP is always the cheapest crypto to transfer with top volume in the top 10 cryptocurrencies.

  • Average transaction fee: $0.00014
  • Average transaction speed: 5 seconds

6. Bitcoin Cash (BCH)

Bitcoin Cash (BCH) is a cryptocurrency created in a “hard fork” from Bitcoin in 2017, a vindication for those who constantly look out for increased decentralization in digital currency. The reason for this was its desire to answer the main shortcomings, which are, first of all, Bitcoin’s scalability problems and secondly, its expensive transactions.

The basic idea behind the development of Bitcoin Cash was to present a better solution to Bitcoin’s energy-consuming mining process by increasing transaction throughput with the help of bigger blocks. It meant that blocks would be created bigger in order to accommodate more transactions, which would, in turn, lower fees and times. Compared to Bitcoin, Bitcoin Cash is worthy of being the cheapest crypto to transfer in the Bitcoin ecosystem.

Cheapest Crypto to Transfer to Your Wallet With Close To Zero Transaction Fees

The other idea behind Bitcoin Cash was to up its transaction speed, which it has done and has further supported leading BRC-20 tokens like CashToken, making it also multifunctional. BCH transaction fees are also very low; users are charged an average of only $0.0024, a price at which one can actually make transfers with this amount.

  • Average transaction fee: $0.0024
  • Average transaction speed: over 10 minutes

7. Dash (DASH)

Dash, which launched at the beginning of 2014, has since become a player to look out for. It provides a clear mixing of Proof-of-Work mining with master nodes to give the opportunity to use “digital cash” for paying in the digital economy. DASH is near the bottom of the list of cheapest crypto to transfer but don’t judge this, it is always the top choice for traders.

However, one of the most salient features of Dash is a focus on privacy. By using its PrivateSend function, it is possible that users can obscure the origin of their DASH coins. This feature improves privacy for transactions performed on the Dash network. In addition, Dash is fitted with InstantSend technology, which makes possible the very fast confirmation of the transactions by the Dash master node network—just a few seconds.

Cheapest Crypto to Transfer to Your Wallet With Close To Zero Transaction Fees

Some investors have accused Dash of being centralized due to its treasury system, but this is not at all true. Besides, it manages to achieve very low fees; the average fee for a single Dash transaction is only $0.0043. These privacy features, combined with extremely fast transaction processing and very low fees, make Dash a realistic candidate for a strong cryptocurrency.

  • Average transaction fee: $0.003
  • Average transaction speed: 3 seconds

8. LiteCoin (LTC)

Litecoin (LTC), a digital currency created by Charlie Lee in 2011, still manages to be competitive in the fast-evolving digital money market. As one of the earliest altcoins in the market, Litecoin hasn’t really lost its relevance, and the looming halving will add to the coin’s attractiveness among investors.

Despite similarities to Bitcoin, Litecoin has a number of fundamental differences: it uses the Scrypt hashing algorithm, and its block times are four times faster. The maximum supply is also four times larger than that of Bitcoin.

Cheapest Crypto to Transfer to Your Wallet With Close To Zero Transaction Fees

While the number of newer competitors continues to grow, Litecoin remains one of the most affordable options for transactions within the cryptocurrency space. Litecoin transaction fees can be as low as $0.03 to $0.04 per transaction, presenting a much more attractive option than some other available methods within the crypto sphere, which often carry fees with high volatility.

A big reason for the low cost of transactions in Litecoin is the network structure itself. Some competitors are structured in such a way that higher transaction fees are required to incentivize miners, an issue completely avoided by Litecoins nature as a network. LiteCoin is the last name of the candidates for the cheapest crypto to transfer. LTC transaction fees may be the highest on this list, but compared to other coins or tokens, LTC is a great choice.

  • Average transaction fee: $0.03-$0.04
  • Average transaction speed: 2-3 minutes

Readmore: Top 5 Best Litecoin Casinos In 2024

What Is Crypto Transaction Fee? 

Crypto transaction fees are very essential in the field of digital assets and are charged when you transfer your crypto funds from one address to another or in the process of trading on a crypto exchange, decentralized or centralized. These fees help incentivize miners and validators to continue to work on securing the blockchain network.

The fee amount extremely varies and depends on the respective cryptocurrencies transferred and how much pressure the network is facing in terms of demand. For instance, during heavy congestion, transaction fees can skyrocket and raise issues for users making transfers that are economical.

Now, knowing the different kinds of fees and how to save money can enable someone to go through different types of crypto transfers. If one knows the different kinds of fees and plans ahead to cut costs, crypto transfers can be administered.

Readmore: Top 5 Best DeFi Wallets You Should Use

Transaction fee comparison

Transaction fees are one of the most important aspects to consider when using cryptocurrencies on a daily basis. In a positive light, most of the listed cryptocurrencies offer quite low transaction fees, hence making them usable for a larger share of the public. Note, however, that the fees and speeds can vary based on the network’s current conditions.

Cryptocurrency users always look for projects with low transaction fees, and the following comparison can give them an idea of which to stick with:

CryptoNative TokenMarket CapAverrage Transaction FeeAverrage Transaction Speed
NanoNANO$173,362,449FreeAlmost Instant
StellarXLM$3,069,240,774$0.00000353-5 seconds
ReddCoinRDD$21.6M$0.00007360 seconds
MoneroXMR$3,197,437,508$0.000142 minutes
RippleXRP$29,090,920,875$0.00115 seconds
Bitcoin CashBCH$10,098,325,117$0.0024Over 10 minutes
DashDASH$358,322,182$0.0033 seconds
LiteCoinLTC$6,266,416,397$0.03 to $0.042-3 minutes

How do you save on crypto transaction fees? 

While most cryptocurrency transactions can be costly, they can generally be managed, and at the end of the day, a lot of savings can be made from these costs. If you cannot choose the cheapest crypto to transfer, choose the following ways to optimize transaction fees:

  • Transfer crypto when the network is stable: When the network is congested, fees for transactions really shoot up. If your transaction is not time-sensitive, just wait until congestion subsides and fees go back to normal. Although it might test your patience and could take days, a lot of times, this is how you end up saving a lot of money.
  • Internal crypto exchanges across platforms: Most of the crypto exchanges now provide an internal transfer service. Using this, the platform users can transfer money from one account to another within the same platform with very minimal or zero fees. If you’re transacting with friends or business partners on a regular basis, you might consider making accounts at the same exchange and using them to pass cryptocurrencies around with a next-to-nothing fee.
  • Using layer 2 solutions: Layer 2 solutions consist of moving certain operations off the main blockchain, which reduces congestion and cuts down on the associated transaction costs. This allows users to benefit from low fees and fast processing times by offloading transactions to secondary layers like sidechains or payment channels, all the while benefiting from the security of the underlying blockchain.
  • Choose cheaper cryptocurrencies: Not all cryptocurrencies are created equal when it comes to transaction fees. Consider using alternative, cheaper-to-transact-with cryptocurrencies, such as XRP.

Find a Cheapest Crypto to Transfer with Lowest Transaction Fees

Although the appeal of potential profit is what drives many into the crypto market, one has to put into perspective the importance of transaction fees for preserving gains and overall portfolio value. High transaction costs cut into profits or reduce the value of the funds, eating into the success of investment endeavors.

This is the reason why investors need to be on the lookout for the cheapest crypto to transfer to help maximize investment strategies. In this way, an investor can reduce the costs of investing and keep more of his hard-earned money in his pocket. However wise investors will decide what kind of cryptocurrencies to invest in, given the impact that transaction fees have on returns and balances.

Readmore: Best Places To Buy Bitcoin Without ID That You Should Know

Conclusion

As more individuals incorporate digital assets into their financial portfolios and businesses streamline operations with cryptocurrencies, finding the cheapest crypto to transfer is essential. No one wants to incur unnecessary expenses when transferring funds between wallets.

Identifying the cheapest crypto to transfer can be challenging, given the variance in fees across different projects. However, you must also consider transaction speed and other factors to optimize your profits.

FAQs

What is the cheapest crypto to withdraw?

Cryptocurrencies like Stellar (XLM), Ripple (XRP), and Nano (NANO) have been recognized for their low transaction fees and fast confirmation times. These are candidates in the list of cheapest crypto to withdraw.

What Types of Cryptocurrency Transaction Fees?

Here are some common types of transaction fees in the cryptocurrency space:

  • Network Transaction Fees: Paid to miners or validators for processing transactions.
  • Exchange Withdrawal Fees: Charged by exchanges for withdrawing cryptocurrency.
  • Smart Contract Fees (Gas Fees): Paid for executing smart contracts on networks like Ethereum.
  • Internal Transaction Fees: Fees for transactions within a blockchain network.
  • Wallet Service Fees: Charges for services provided by cryptocurrency wallets or platforms.
  • Staking Fees: Fees for staking services in proof-of-stake networks.

What crypto has the lowest fees?

Based on our comparison table, Nano deserves to be the crypto with the lowest fees.

Is it cheaper to send BTC or ETH?

The cost of sending Bitcoin (BTC) or Ethereum (ETH) can vary depending on factors such as network congestion, transaction speed, and the specific circumstances of your transaction. Historically, Ethereum transactions have tended to be cheaper and faster compared to Bitcoin due to Ethereum’s faster block times and lower transaction fees on average.

Are trading fees the same as transaction fees?

No. Trading fees are charged by cryptocurrency exchanges for executing trades on their platforms, while transaction fees are paid for processing transactions on a blockchain network.

Can I trade crypto without paying trading fees?

Yes, it’s possible to trade cryptocurrencies without paying trading fees, but it depends on the platform you use and the specific circumstances.

Which crypto wallet has no fees?

All crypto wallets have an associated fee that you pay, such as fees when sending or receiving cryptocurrencies.

Visited 95 times, 15 visit(s) today