Cryptocurrency is indeed the hottest investment option. Globally, the number of investors has grown multi-fold. Thanks to the decentralized finance model and blockchain technology. This investment model also attracted most investors after 2017.
One important factor that contributed to this increase is the growing acceptance by online marketplaces. Online shopping portals including Microsoft, PayPal accept crypto payments. The total market capitalization of crypto investments has grown from 15 billion in 2017 to $2 trillion in 2021. You can check the Bitcoin trading platform to learn more about bitcoin trading.
What attracts investors to cryptocurrencies?
Promising return on investment is the primary factor attracting crypto investments. The stock market provides an average 10-12% return on investment on stocks, bonds, and other funds. But, the case is different for crypto investments. Bitcoin entered the crypto market with a launch price of less than $1. But today Bitcoin is priced at $40,000 on average.
Transaction charges on cryptocurrencies
Like any other transaction model fiat currencies also has transaction charges tagged to them. The transaction charges are incurred when an investor moves crypto between wallets. These transaction charges vary depending on the type and medium of exchange.
Additionally, users can also fast-track crypto transactions by increasing the transaction charges.
As an investor, you might come across three different types of transaction charges namely
Exchange fees – typically charged by the exchange that enables buying and selling
Network fees – Validating every crypto transaction is carried out through a network. These network points are set up by miners and they tag their charges as network fees while validating each transaction
Wallet fees – minor fee charged to store your digital currency, this is usually levied by the exchange
Let us now look at 10 cryptos that have zero transaction fees.
Stellar – open network that allows investors to store and move money
This is the cheapest cryptocurrency that you can readily buy. The technology is fast allowing you to undertake transactions at lightning speed. As of today, Stellar charges less than $0.00 transaction fees. Stellar is popular amongst investors who want to undertake large transactions online.
IOTA – eco-friendly crypto coin
The IOTA token is headed by a Berlin-based organization. There is no transaction fee for any transfer using IOTA. IOTA does not have any dedicated miners deployed to confirm each crypto transaction. No miners and no transaction fees, you must be wondering what pushes the craze for this coin. It is purely market demand. Transactions get completed at an easier and faster pace. This feature makes crypto an ideal investment option.
NANO also takes similar steps as IOTA. There are no transaction charges in NANO. This makes it the first choice for investors who wish to transact in large volume. Every investor in NANO can create their blockchain. This chain continues to grow as investment increases.
A popular coin in recent times. As compared to other cryptos, ADA is fast. It provides a scalable solution and reduces environmental hazards due to mining. Its primary attraction is its ability to execute smart contracts. Developing decentralized apps using ADA is another advantage.
Litecoin aims at easing payments for financial institutions. Considering the volume, developers took efforts to reduce transaction charges. As of now, the transaction cost is as low as $0.007 per transaction. Following Bitcoin’s legacy, this coin has been craving consistent demand in the crypto market.
Dash simply refers to digital cash. This cryptocurrency charges its users with transaction costs ranging between $0.1 to $0.3. Many online e-commerce platforms and retailers accept dash in exchange for goods and services.
The total market capitalization of Tron is at $1.5 billion today. Launched in 2017, Tron came up with technology to improve Bitcoin’s limitations. Tron allows users with instant transfer at zero charges.
Many investors take EOS as Ethereum’s competitor. EOS offers better performance and supports infrastructure transactions at incredible speed. There are no transaction fees associated while using EOS.
Zil is another on the list with transaction charges less than $0.1 per transaction. It is fast and develops decentralized apps using ZIL tokens.
DGB works on proof–of–the work concept and allows faster transactions. The charges are less than $0.00 and allow data mining every 10-20 seconds. The only disadvantage here is the time is taken to get a confirmation for each transaction.