The Cheapest Crypto to Transfer with Lowest Fees in 2024

Transferring cryptocurrency can be expensive, with Bitcoin fees ranging from $5 to $30 and Ethereum fees often similarly high. For cheaper transfers, consider alternatives like TRON (TRX), Ripple (XRP), or Litecoin (LTC), which typically have much lower transaction fees, often less than a dollar. Read on for a breakdown of the lowest transfer fee crypto assets.

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Key Takeaways:

• Some cryptocurrencies do not require senders to pay a fee when transferring an asset. 
• IOTA and Nano offer fee-free transactions. IOTA is more widely accepted on exchanges, while Nano has faster settlement times.
• Tron boasts broader acceptance than IOTA and Nano. However, you must freeze TRX tokens to gain energy for free transactions; otherwise, there will be a slight fee. 
• The network usually awards a transfer fee to the validator confirming your blockchain transaction. 

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Crypto Transfer Fees Explained

Whenever you send a cryptocurrency transaction on a traditional blockchain like the Bitcoin network, it must be confirmed by a validator. For a transaction to be validated, a certain amount of computational power is required, which is paid for by the crypto transfer fee. As such, costs can vary significantly based on network congestion. 

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The Cryptocurrencies with the Lowest Transfer Fees

In the past, high transfer fees were considered one of cryptocurrency’s primary issues. Bitcoin and Ethereum, two of the most popular crypto assets, both suffer from heavy transfer fees, sometimes costing as much as $30. Most of the time, Bitcoin transaction costs will be lower, around $10, but this will severely impact smaller transactions, like sending money to a friend to cover a restaurant bill.

For smaller purchases and transactions to become viable, people need access to cryptocurrencies with far cheaper transfer fees. Thankfully, many projects have tackled the high transfer fee issue by implementing new scaling techniques or building a new consensus mechanism. Here is a selection of the lowest transfer fee cryptocurrencies: 

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1. IOTA (IOTA)

IOTA is an innovative cryptocurrency project creating a distributed ledger for the Internet of Things (IoT) ecosystem. IOTA is a long-standing crypto project that has been running since 2016. It has a market cap of roughly $592 million and is widely accepted on exchanges and crypto wallets. 

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IOTA boasts fee-free transactions as its consensus mechanism (the process that validates transactions) works differently from other cryptos. Instead of tipping validators a fee, each transaction requires a sender to validate two other transactions on the network. As such, there are no miners to pay, meaning you can transfer IOTA for free. 

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2. Nano (XNO)

Nano (XNO) is a lesser-known cryptocurrency that uses technology that is different from traditional blockchains like Stellar. Every account on the Nano network controls its own blockchain, and delegated representatives review each account’s blockchain information to ensure it’s correct and prevent issues like double-spending. 

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There are zero fees for transferring crypto on the Nano network. The blockchain is highly efficient, and delegated representatives are incentivized in other ways, such as needing a full Nano node for their business. Moreover, transaction settlement times are often under a second, making Nano an excellent option for quickly and cheaply transferring crypto. 

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3. Tron (TRX) 

Tron (TRX) is one of the most popular cryptocurrencies worldwide. It was launched in 2017 and has a market cap of around $10.3 billion, making it one of the 15 largest cryptocurrencies. One of the most significant advantages of using Tron versus IOTA or Nano is its broader acceptance. As Tron is such a large asset, most mainstream wallets and crypto exchanges support it.

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The Tron network awards active wallet addresses 5,000 bandwidth points every 24 hours. These points fund activities like transfers and equate to roughly 15 fee-free transactions. Users can freeze Tron in their wallets to gain bandwidth and energy and fund more free transactions. Users must pay around 0.000001 TRX per transfer outside of their free transactions.

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Disclaimer: Why are other blockchains faster than others?

Yes, transfer times are faster on some other crypto/blockchains, but this is generally due to the fact that they aren't very large and as decentralized. This generally translate into a speed vs. reliability trade of situation, and while transferring small amounts on these faster chains is fine and can save on fees, for large and important transactions, Bitcoin is often better. BTC's higher fees are justified by its larger, more decentralized, and reliable network, making it a wise trade-off for ensuring your money transfer is being handled in a secure and reliable manner.

Learn more about Bitcoin transfers.

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The Cheapest Crypto to Transfer - Final Verdict

You can spend substantial sums on transfer fees if you frequently send crypto transactions. For assets like Bitcoin, transferal costs can range from as low as $5 to $30 or more. Moreover, predicting transfer fees is challenging as costs vary due to network conditions. 

However, you can completely eliminate transaction fees by using IOTA or Nano. Both assets use unique consensus mechanisms, removing the need for miners to validate transactions. However, if you require a more widely accepted asset, Tron provides active addresses with around 15 free daily transfers, making it possible never to pay transfer fees again.

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We aim to publish factual and accurate information as of the publication date. For specific information about a cryptocurrency exchange or trading platform please visit that provider's website. This information is general in nature and is for educational purposes only. We do not provide financial advice, nor does it take into account your personal financial situation. We encourage you to seek financial advice from an independent financial advisor where appropriate and make your own inquiries.

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