Hi there. In this page I would like to cover cryptos that have low transaction fees.
Note that some of this content is opinion. Also, I am sure that I miss some other low cost cryptos. Invest at your risk.
As Bitcoin and Ethereum transaction fees are a bit crazy, it is a good idea to look for alternatives that have low transaction costs. If a transaction fee in crypto costs more than Interac fees then that crypto transaction fee is too high.
Through my own explorative research, I have found cryptos that have low transaction fees.
Well Known Cryptos
Other Cryptos
Note that there are a few cryptos that I have not tried to know if the transaction fees are low. These include Avalanche, Algorand and Tezos.
In the Other Cryptos list, a few are low cap coins that I have a position in or have looked at. Hathor (HTR) is a crypto project from Brazil that uses a Directed Acyclic Graph (DAG) for its network. NIMIQ is a low cap coin that is browser-first, fast and has low fees. VITE uses a DAG along with Snapshot Chain technology for fast transactions per second, instant confirmation, zero fee transaction. It also has a built in decentralized exchange (DEX). [Note that I am not invested into VITE but am looking into it.]
After using ICON (ICX) a few times, I can confirm that ICX has low transaction fees and is really fast.
There are people who care only for the fast speeds and low fees. Some may be more picky and want more. More as in decentralized, fast with low network fees. Do be mindful that some of the projects listed above are centralized. It is important to do research and not rush into things.
Some of the low costs cryptos use Directed Acyclic Graphs or DAGs. DAGs are from the mathematical field of Graph Theory. I myself would not know much about graph theory or DAGs. Also, I do not think many math/computer science people are specialized in DAGs. From this video I just know some bare basics of a DAG.
Projects That Use a DAG That I Know Of
Transaction fees are one thing but you have to consider withdrawal fees as well from different exchanges. A certain crypto can have low transaction fees but can have high withdrawal fees on a certain exchange(s).
I like to use withdrawlfees.com and coinmarketfees.com for checking withdrawal fees on various exchanges. These two websites are good for finding the lowest withdrawal fees for certain coins. These websites are not perfect though, so it is a good idea to change the fees pages on the exchange website yourself. From there you should be able to find withdrawal fees and minimum withdrawals for coins. (Some exchanges are not that transparent with the fees info unfortunately.)
Canadians do not have many crypto options on the Canadian crypto platforms. For access to lower cap coins, crypto funds have to be exchanged from the Canadian platform into more global exchanges such as Binance, Kucoin, Bitfinex, Gemini, Coinbase, FTX, etc.
You typically would not want to exchange Bitcoin or Ethereum as the transaction fees are high. It would be better to use Litecoin or maybe XRP or XLM (Stellar Lumens) to transfer funds are the fees are much lower. Once the funds are sent to the bigger exchange, you can make the necessary conversions to obtain the desired crypto. Litecoin, XRP, XLM are also good for transferring funds to your Canadian exchange and withdrawal funds into fiat (CAD).