Inexpensive To Move
For those of you who have not yet realized how expensive gas fees for ETH have become, you might be in for a shock next time you want to send some ETH or your favorite ERC20 token. Currently, it will cost you a couple of dollars, which is pretty ridiculous. Furthermore, as the bull market hots up along with DeFi, is it not logical that these fees are only going to increase. I don't know about you but I am not happy parting with my dollars every time I want to increase my stack.
This was the main motivation behind my recent post, "Skip High ETH & BTC Fees By Using This Technique" where I explain Binance BEP2 tokens, that enable users to put coins like BTC and ETH on the Binance chain and ultimately save tons in fees. However, some users want their coin on the main native blockchain and not a "wrapped" version. For these folks, I have compiled a list of inexpensive coins to move that I believe still have much further upside and will be great projects well into the future. I will use Binance as the benchmark for fees as they appear to be the most accurate, while some other exchanges overcharge tremendously for the network fee.
1) Cosmos (ATOM)
This is a great project with a really bright future ahead. Interoperability, cross chain brilliance in my opinion. ATOM is currently in the Top 20 and also has great staking rewards, currently 10% on Atomic Wallet. This is the type of alt I would consider hodling long-term. The withdrawal fee on Binance is currently 0.005 ATOM, which is currently around $0.03! Definitely a winner and even cheaper to move than a BEP2!
2) Band Protocol (BAND)
BAND has been ripping up the markets in the last two months or so but has retraced significantly from recent highs of approximately $17 and is currently trading at a little over $10! If you missed out on BAND, you might want to consider picking some up at these prices because I don't think it will stay down too long. BAND is in the Top 60 and has captured the interest of many. Once again, BAND is another great staking coin with returns as high as 17% on Atomic Wallet. Currently, the withdrawal fee on Binance is 0.001 BAND, which is just over $0.01 at time of writing.
3) Tron TRX
Then we have the coin so many people love to hate and yet it still has great volume and a lot of dapp adoption. TRX has had quite a surge over the past two weeks, which is long overdue. TRX is another coin that can be staked and has a lot of alternative earning potential in the form of dapps and it's sister coin BTT. The standard withdrawal fee is 1 TRX, putting the transaction cost just south of $0,03! Tron is also a pretty fast chain which settles in seconds and I use it on a daily basis to shift funds and earn passive income.
4) Stellar (XLM)
Finally we have XLM, of which I am not really a big fan but they have managed to maintain their spot in the Top 20 despite LINK and others blasting into the foreground. This is the type of coin I would only utilize to transfer value in a similar way I often use XRP. Beyond that, I do not really see much appeal but XLM trades more daily volume than BNB, so it is definitely not dead. Currently on Binance, withdrawal fees are 0.01 XLM which is only a tenth of a cent.
As fees rise, projects that have their own blockchain and lower fees could gain more attention and adoption. Most tokens are built on top of ETH, leaving users captive to high gas fees. Something to think about!