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Cryptocurrencies with Low Transaction Fees

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David
Cryptocurrencies with Low Transaction Fees

Because of the greater volume of data involved, users will incur higher transaction fees the more money they transfer over the blockchain.

High blockchain transaction costs are a major annoyance for users. In 2017, Ethereum gas costs reached an all-time high. Blockchain networks often collect transaction fees in the platform's native currency to fund network upkeep.

Fortunately, a few cryptocurrency communities like briansclub have very cheap transaction costs. For those looking for a cryptocurrency with cheap transaction costs, here are a few options:

Monero

The Monero cryptocurrency project aims to increase the secrecy and anonymity of online payments made via the blockchain. Attempts are made to conceal these transactions through blockchain tokens like Monero so that data may be kept from public view.

The platform strives to be as inexpensive as possible to encourage more people to join and utilize the Monero ecosystem. This is why its transaction costs are lower than those of competing blockchain networks. The standard charge in Monero is 0.0000075 XMR.

Ripple

Ripple promises to improve global payments by facilitating the rapid movement of huge quantities of money across borders. It is a blockchain-based digital payment settlement network and remittance system. Its goal is to replace the SWIFT system, which is now used for international money transfers, with a blockchain-based solution that banks and other middlemen utilize when exchanging currency.

A standard network transaction now costs as little as 0.00001 XRP. At times of increased pressure, it begins to climb.

Stellar

It's a well-known cryptocurrency payment network that uses blockchain technology. As with Ripple's XRP, the Stellar Lumen project intends to build a large blockchain network to facilitate low-cost transfers between financial institutions, payment platforms, and people.

The cheap transaction fees offered by Stellar have attracted a massive user base.

The typical platform transaction cost is 0.00001 XLM (Lumen, the Stellar token).

DASH

Dash is a decentralized cryptocurrency that was branched off the Bitcoin network. It hopes to phase out cash in favour of a digital currency that can be utilized with existing payment systems like credit cards and PayPal to complete transactions.

Its primary use is as a means of payment, and it has significantly reduced transaction costs. Compared to Bitcoin's transaction fees, Dash's average cost is between $0.2 and $0.3 (0.0071 DASH).

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