Andreas Townsend

1 year ago

The battle between fiat currencies and cryptos has begun for a really long time. Crypto naysayers and enthusiasts as well will want to find out the data below for sure.

Cryptos are outperforming fiat regarding transactions fees, and some of them are averaging a penny or even less.

Here are five of the most important cryptos and their transaction fees.

Bitcoin

Bitcoin transactions fees have been quite expensive which made BTC an ineffective means for micropayments and daily purchases.

Now, the high fees are a bit more down to Earth so to speak. Back in December 2017, the overloaded Bitcoin network led to sky-high fees with an average of $52.

On October 15, the blockchain shows that $194 million in Bitcoin was moved for .00001464 BTC or $0.10. At the moment, the current transaction fee is $047.

Ethereum

Since December last year, transactions fees for ETH have declined as well, and the current average fee is $012.

XRP

Ripple’s XRP is popular for being really cost-effective.

Michael Arrington, TechCrunch founder and the founder of hedge fund Arrington XRP Capital reported that he was able to move millions using XRP and the transaction cost a few pennies.

The average fee for XRP is currently $0,0007, says BitInfoCharts.

NANO

NANO processes transactions with zero fees, straight and simple.

The team says that “Because the protocol is incredibly lightweight and running a node costs next to nothing, NANO’s transactions are processed with no fees. One transaction fits within a single UDP packet, and transactions are handled independently, eliminating any block size issue.”

Monero (XMR)

Monero privacy-oriented coin masks users’ identities, and it recently announced that the average cost of a transaction if about $0.005 and $0.01.

Before, average transactions fees were between $0.20 and $0.25.

Fiat

Transferwise is a fintech company that reduces fees for traditional cross-border fiat transactions, and it charges $5,000 to move $1 million, according to tot heir pricing calculator.

Conventional wire transfers can reach even thousands in fees for $1 million. Case closed.

Icon
1xBit

Lorem Ipsum is simply dummy text of the printing and typesetting industr...

Icon
Nitrogen Sports

Lorem Ipsum is simply dummy text of the printing and typesetting industr...

Icon
7bitcasino

Lorem Ipsum is simply dummy text of the printing and typesetting industr...

Icon
BitStarz

Lorem Ipsum is simply dummy text of the printing and typesetting industr...

Icon
FortuneJack

Lorem Ipsum is simply dummy text of the printing and typesetting industry....

Top Exchanges
Icon
CEX.IO

4.00

Read Review - Website

Icon
Coinbase

4.48

Read Review - Website

Icon
Binance

4.50

Read Review - Website

Top Casinos
Icon
7bitcasino

4.20

Read Review - Website

Icon
BitStarz

4.93

Read Review - Website

Icon
FortuneJack

4.55

Read Review - Website

Trending news

Binance

Trending news

Top Exchanges
Icon
CEX.IO

4.00

Read Review - Website

Icon
Coinbase

4.48

Read Review - Website

Icon
Binance

4.50

Read Review - Website

Top Casinos
Icon
7bitcasino

4.20

Read Review - Website

Icon
BitStarz

4.93

Read Review - Website

Icon
FortuneJack

4.55

Read Review - Website

Top Sportsbook
Icon
1xBit

4.03

Read Review - Website

Icon
Nitrogen Sports

4.73

Read Review - Website

Icon
SportBet.io

4.60

Read Review - Website

Andreas Townsend Author

I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.

1227 Articles
7255 Followers