If you're looking for low cost and high-speed transactions, cryptocurrencies provide a much more efficient option that fiat transactions, offering a cheaper, faster and easier alternative. While many have engaged in the crypto markets for investment purposes, the world is slowly waking up to the incredible advantages of using crypto in every day life.
Cryptocurrency was built on the concept of fast, low cost, and secure payment transfers, allowing for quick and easy transactions. While many cryptocurrencies are celebrated for their impressive speed and fees, some are a little more heavy handed.
Ethereum for example, once the most used blockchain for dapp development, has now lost a large amount of support due to increased fees because they lack scalability. To help you save some time and money, we've listed the cheapest crypto coins to transfer in 2022.
What Are Crypto Transaction Fees?
Transaction fees are fees charged every time you make a transaction and are applied to pay the miners for validating your transaction. These fees are usually a small fraction of what you are sending, and the fee is worked out by either the network or the sender. The more fees you pay, the higher the priority put on your transaction to be verified by miners, and the faster it will be processed.
If these networks are congested, or not optimized for scalability, you will have to pay a lot more to get your payment on time. This is where transaction fee issues occur, making it uneconomically sound for traders to use these networks. Hence, this list of the cheapest crypto coins to transfer in 2022, so let’s check it out.
Crypto Coins With Low Transaction Fees
$0 fees, 0.14 seconds for confirmation
If you are looking for a fast, cheap, and eco-friendly cryptocurrency then consider Nano. With a zero-fee structure built into their protocol, you can always expect the best. To top it off, their transactions take less than a second to confirm, 0.14 seconds to be precise.
$0.0005 fees, 15 seconds for confirmation
DigiByte, or DGB, is a cryptocurrency whose fees are some of the most competitive in the market. DGB boasts transaction fees as low as $0.0005 and their transaction speeds are great, coming in at 15 seconds for confirmation.
$0.0002 fees, 5 seconds for confirmation
XRP, the crypto coin of Ripple, offer great transaction fees and ensures you spend less on sending. XRP has an average transaction fee of $0.0002. You can also expect your transaction to be confirmed in an average of 5 seconds.
$0.000038 fees, 5 seconds for confirmation
Stellar, or XLM, is another cryptocurrency token whose fees and speeds are some of the most competitive in the market. You can expect to pay an average transaction fee of $0.000038 as well as transaction confirmation times of roughly 5 seconds.
$0.0043 fees, 15 minutes for confirmation
Dash, short for Digital Cash, aims to bring their users the best fees in the market, and they have succeeded. Regardless of the amount you send, you are looking at an average transaction fee of $0.0043, and a confirmation time of 15 minutes, still better rates than most.
Transactions Fees vs Confirmation Speed
As seen with Bitcoin transactions, the more you pay, the faster your transactions. Speed vs fees is a big debate within the community, trading one feature for another. Ideally, you would want to prioritize both, as seen by our above list, this is definitely a possibility.
Cheap Crypto Coins To Send
As you can see, there are plenty of cryptocurrency coins within the market offering great fees and transaction speeds. You don’t have to spend more to send, there are networks built to manage your needs at an affordable rate. You shouldn’t have to sacrifice security, speed, or anything else to get the best price.
There are endless options available, you just need to know where to look. You can learn more about cryptocurrency and buy some of these incredible tokens with Oobit.
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