10 Cryptocurrencies With Almost Zero Transaction Charges – MakeUseOf

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Cryptocurrencies have taken the world by storm. Right now there is hardly any other investment option hotter than cryptocurrencies.

You can buy different cryptocurrencies on numerous crypto exchanges. Once you do, they are easy to trade. Crypto pairs are available for all popular cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Monero (XMR) and many others.

What annoys most crypto traders, however, is the relatively high transaction fee charged by popular cryptocurrencies. Fortunately, there are several cryptocurrencies that charge a remarkably low transaction fee. Here are 10 of them.

1st star (XLM)

Screenshot of Stellar's homepage

Stellar is one of the hottest cryptocurrencies to buy. The Stellar blockchain is incredibly fast and payments are verified and processed within seconds. The average transaction costs are also devastatingly low, at 0.00001 lumens, Stellar’s token.

Related: A Simple Introduction to the Stellar Blockchain (XLM)

This means that based on Lumen’s current prices, you will be paying approximately $ 0.0000035 for each transaction. This is one of the main reasons Stellar is fast becoming a popular choice for people looking to transfer large sums of money online. This is also why Stellar is number one on this list.

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2. IOTA (IOTA)

Screenshot of the IOTA homepage

IOTA is one of the greenest cryptocurrencies on this list. IOTA is described as an “open and callous data and value transfer protocol”. The IOTA Foundation, a non-profit organization based in Berlin, is leading the development of the IOTA token.

IOTA does not charge any transaction fees. There are also no miners on the IOTA network, and any transaction can be completed without any serious computing power. This also eliminates the need to pay a gas fee.

Related: What Is IOTA and How Does This Cryptocurrency Work Without Blockchain?

Without a transaction fee, what is driving the price of this token? The answer is simple: demand. The more transactions that are completed on the network, the faster it gets. More importantly, the confirmation times are still relatively short, averaging between 10 and 12 seconds.

3. NANO (NANO)

Screenshot of the NANO homepage

Just like IOTA, NANO does not charge a transaction fee. All transactions are validated and completed in a second, making it a fantastic cryptocurrency for people who need to move large sums of money quickly.

In contrast to the traditional blockchain, where miners compete against each other to add blocks, each user on NANO operates their own blockchain that they can grow. NANO calls it the block grid. This makes NANO more transparent and scalable without affecting the network.

4. Cardano (ADA)

Screenshot from Cardano's homepage

Cardano is an incredibly popular cryptocurrency that is fast, incredibly scalable, and most importantly, environmentally friendly. However, when compared to the names above, ADA still charges a sizable transaction fee, which is generally between 0.15 and 0.18 ADA.

Related: What Is Cardano (ADA) And Why Is It So Popular?

Cardano’s blockchain has drawn a lot of attention due to its rapid development. Goguen’s development brought smart contracts to Cardano that allow users to create DApps on Cardano’s highly transparent network.

With low transaction fees, practical applications, and a solid foundation, Cardano has quickly become one of the most popular cryptocurrencies in the DeFi community.

5. Litecoin (LTC)

Screenshot of the Litecoin homepage

Litecoin was originally designed for payments, which should give you an idea that the developers have taken steps to keep transaction fees as low as possible.

The transaction fee averages about $ 0.0070 per transaction, and each transaction takes about two minutes to process. Litecoin is also very popular as it is one of the oldest cryptocurrencies on the market right now.

It’s practically the same as Bitcoin, which is one of the reasons it’s been in constant demand since it was first released.

6th dash (DASH)

Screenshot of the Dash homepage

Dash, which is simply short for “Digital Cash,” is fast becoming a popular choice with crypto investors and users. The average transaction fee for Dash is between $ 0.2 and $ 0.3, which is significantly cheaper than Bitcoin.

More importantly, transaction speeds are significantly faster on Dash. It’s essentially a fork of Litecoin, which in turn is a fork of Bitcoin. Many traders and exchanges are now accepting Dash, making it an increasingly attractive option.

7. Tron (TRON)

Screenshot from Tron's homepage

TRON was founded in 2017 and within a few years the market capitalization rose to 1.6 billion US dollars. Inspired by Bitcoin, TRON was created to improve its original structure.

Right now, the average transaction fee is only a fraction of a cent, which makes it a fantastic option for sending or receiving money. USDT, the stablecoin used by Tether, is also available on the TRON network, so you can easily send and receive sums with no transfer fees and almost instant transfers.

8. EOSIO (EOS)

Screenshot of the EOS homepage

EOSIO is an open source blockchain platform designed to build and support digital infrastructures. As a cryptocurrency, EOS is incredibly popular. The Initial Coin Offering raised $ 4.1 billion when it first launched in 2018.

Many consider EOS a direct competitor to Ethereum, but with better performance. Technically, you don’t have to worry about transaction fees when sending or receiving EOS. However, it does use some key resources such as CPU, RAM, and your network bandwidth to confirm the purchase.

Related: The Biggest Risks For Crypto Investors (Both Beginners and Veterans)Even then, transaction fees are practically negligible.

9. Zilliqa (ZIL)

Screenshot from Zilliqa's homepage

Zilliqa is a blockchain platform primarily designed to complement the creator economy and the DeFi community. It enables blockchain developers to build DApps on their platform and uses the ZIL token.

Currently the transaction fee is 0.1 ZIL so you pay less than a cent per transaction. If you are looking to create, buy, or sell NFTs, Zilliqa is definitely worth your attention.

Related: How to Create an NFT and Then Sell It Online

10. Digibyte (DGB)

Screenshot of the Digibyte homepage

Digibyte is a fast growing open source blockchain platform that takes great pride in its decentralized nature. Blocks are mined every 15 seconds, which allows up to 1066 on-chain transactions in one second.

The transaction fee is also incredibly low and is $ 0.0005 per transaction. It is a proof-of-work coin, so it is also environmentally friendly. However, it takes about five minutes to confirm a transaction on the blockchain.

Be careful when buying cryptocurrencies

While cryptocurrencies have come a long way in the past decade, it is still important to be careful before investing your hard-earned money in a cryptocurrency.

There have been numerous cases of developers abandoning projects that ran away with investors’ money. This is known as “carpet drawing”. Always do some research before putting your money in a coin.

Research Cryptocurrency Magnifying Glass Feature Image

Here’s How To Research A Cryptocurrency Before Investing

Are you about to jump into cryptocurrency? Stop! Make sure you do your research before parting with your hard-earned cash.

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About the author

Najam Ahmed
(27 published articles)

Najam Ahmed is an experienced content marketer and copywriter with a focus on SaaS offers, startups, digital agencies and e-commerce companies. He has worked closely with founders and digital marketers for the past eight years to produce articles, eBooks, newsletters, and guides. His interests include gaming, traveling, and reading.

More from Najam Ahmed

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