Easily transactable cryptocurrencies play a major role when we are moving funds from one wallet to another wallet. It can either be from one crypto exchange to another exchange or just from one crypto wallet to another wallet. I'm going to be discussing a Hive in particular in this article that can save us a lot of money while transacting with them. The transactions are not cheap on Hive but they are absolutely free.
Before I start off with those easily transactable cryptocurrencies, I would like to first highlight why we need them. Bitcoin for example is the top traded or top transacted cryptocurrency in the crypto market. One of the biggest reasons is that most of the traders here know only about some of the top coins and trade only on them.
There is sometimes a need where we have to move the coins from one exchange to another exchange to make use of the price fluctuations. I have seen many hardcore traders doing that. I have even done that by myself when the price of HBD is lower in the local market but higher in the Bittrex market. I have bought it from the local market and sold it in the Bittrex market.
So, in situations like this, if we have an easily transactable cryptocurrency that is either free or very cheap, it will be a boon for us to save lots of money in transaction fees.
Hive is the best choice
In situations like this where we have to move our crypto from one exchange to another exchange, Hive is the best option because the transaction on Hive is absolutely free if we move the funds from one wallet to another wallet. But when it comes to exchanging wallets, the transaction fees are still cheap where most of the top exchanges charge only 0.01 Hive per transaction which is not even one cent.
Of all the cryptocurrencies we have in the market, there are only a few cryptocurrencies that have free transactions. The sad thing is that they don't get bigger visibility and the market cap is very less on them because many people don't know about this. Every time I have a need to move crypto from one exchange to another exchange, I first convert my holdings to Hive and move Hive from one exchange wallet to another exchange wallet. Then in the new exchange wallet, I convert it back to my desired cryptocurrency. By doing this I save a lot of money in transaction fees. I know there will still be small fees involved in trading but compared to paying gas fees or transaction fees, these fees should be easily manageable.
I know there are also other similar cryptocurrencies that are cheap for transactions. I don't see any coins that are absolutely free though. TRON, DOGE, Monero are a few examples but I still prefer Hive as the option and if Hive is not available in the exchange where I'm transacting, I go for the other cheap coins.
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