Steem has NO FEES, repeat NO FEES! by chitty

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· @chitty · (edited)
$309.60
Steem has NO FEES, repeat NO FEES!
With all the turmoil surrounding other cryptocurrencies transaction fees I think it is a good time to mention that Steem is the only cryptocurrency (that I know of) that has no transactions fees.

## Yes, I could send 1 million dollars of Steem or SBD and the fee will be $0,00!
 <br>
I believe this is one of the best features of Steem and is currently going unnoticed by the rest of the crypto community who keeps discussing what cryptocurrency to use to safe on fees!

![fees.jpg](https://steemitimages.com/DQmNWRM9zBzC8rBBc5nkK9X52CAdbuxJgZux2D6VGPksv6t/fees.jpg)
*This Graph appeared on [DashNews yesterday]( https://www.dashforcenews.com/cryptocurrency-transaction-fees-spike-dash-remains-cheap/)…where is Steem!?!*

As you can see Bitcoin fees are just ridiculous now. If I wanted to pay one of my $5 VPS I would have to send around $6.25... That is a 25% worth of FEE!

I started using Bitcoin as a storage commodity, sort of like Gold and Litecoin and Steem for everyday transactions. I still use Litecoin as it is more accepted than Steem but I believe this will change in the future.

## What cryptocurrencies are you using to avoid BTCΒ΄s fees?
πŸ‘  , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , and 132 others
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vote details (196)
@chl ·
$0.42
i think ethereum has potential.
πŸ‘  , , ,
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vote details (4)
@chitty ·
$0.26
It does, but fees are still high specially for smart contracts.
πŸ‘  ,
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@chl ·
$0.26
Yes i agree with you so i'm finding lower exchange
πŸ‘  ,
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@dreamrafa ·
$0.14
Wow, so steem is the best coin to make transactions :D :D
πŸ‘  , ,
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vote details (3)
@smithkim ·
I think so, too. Hhhh..
πŸ‘  
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vote details (1)
@penguinpablo ·
$20.15
http://spottedmarley.com/bitcoin/010-kids-get-bitcoin.jpg

#### 10 minutes later

"I still don't have them!"

"Crap. I didn't pay a high enough fee."

"Next time you should use Steem instead!"
πŸ‘  , , , , , , , , , , , , , , , , , , ,
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vote details (20)
@juvyjabian ·
Not unless if you're going to cash-out.
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@happy-doge · (edited)
I think that's already outside of Steem blockchain. Once STEEM gets exchanged into Bitcoin, that's where transaction problems start. But even though it has its own problems, we could still thank Bitcoin for being this old man with a lot of connections (wallets and exchanges in many countries).
πŸ‘  
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@juvyjabian ·
Yeah right
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@crachau ·
$0.26
Why doesn't Steem have fees? How do the miners processing the blockchain get paid?
πŸ‘  , ,
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vote details (3)
@chitty ·
$0.27
What if I told you, that there are no miners? hehe.

Steem used Delegated Proof of Stake, block producers get paid regardless of the fee.
πŸ‘  , , , ,
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@crachau ·
$0.26
I like the Matrix reference!

Could you maybe explain that like I'm 5?
πŸ‘  ,
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vote details (2)
@hedge-x ·
So it is fees going to the stakers.  Steem no fees is not true.  How would transactions be processed?  That's like saying Ether when POS comes out Casper no fees.  Their are since stakers get some reward of the total staked.  Steem is same way.
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@happy-doge ·
$0.26
Steem uses DPOS instead of POW.
πŸ‘  
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vote details (1)
@freedomnation ·
$0.54
Imagine banksters rage when they see how this is funcionating. Everything they learned throughout studies, interests, fees, et cetera. All going to toilet. This is just another good example for crypto - yes.
πŸ‘  , , , , , , , , , , , , , , , , , , , , , , , , , ,
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vote details (27)
@kitcat ·
Seem and eth seem the better one at the moment
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@lig007 ·
I love the no fee aspect of steem. I hate having to pay fees, especially high ones like others have.
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@ranma187 ·
This is why I didn't get into crypto currencies until steem came along. It's a great system.
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@honeyrabbit ·
The main reason I haven't touch my BTC is because the fees can go as high as 60% of what you're paying. At the same time I'm thankful because if it wasn't for BTC fees being so high I wouldn't have looked for alternatives like LTC, DOGE and STEEM.
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@p0o ·
$4.55
It's not about the fees to choose a coin as money, it's about the interoperability of coin with fiat market. Right now the only coins that have active markets are BTC and ETH which people actually buy and sell in fiat so anything else cannot be used conveniently as money. Can you explain to a business partner that they should open an account in Steemit, get the money, send it to poloniex, exchange it to BTC and then convert it? No, the person would think you just don't want to give the money.
πŸ‘  , , , ,
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vote details (5)
@chitty ·
$0.46
Yes, with that I agree with you and it is why I use LTC that has FIAT ramps.

However, like LTC was added to coinbase and soon Bitstamp, Steem could be added too in the future... eliminating BTC out of the equation.
πŸ‘  ,
properties (23)
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vote details (2)
@p0o ·
$0.23
You are right LTC is also one of the important and near future markets. But BTC will never go out of equation, it's the main reserve similar to gold. You don't use gold to pay your phone bills but use it as a stable monetary unit to store wealth.
πŸ‘  
properties (23)
post_id3,526,823
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json_metadata"{"app": "steemit/0.1", "tags": ["steem"]}"
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vote details (1)
@oldtimer ·
$4.19
Good point. That's why I'm just buying right now. They gonna build the infrastructure when they comprehend what is all about.
πŸ‘  ,
properties (23)
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vote details (2)
@p0o ·
$0.23
Right, let's buy even more!
πŸ‘  
properties (23)
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vote details (1)
@teamsteem ·
It's true. Steem was and still is underrated. Some redditors from the Ethereum subreddit asked me how did Steem prevented DDOS spam transaction when I mention Steem could do in the tens of thousands of transaction a second without any fees and when I answered I got mostly no answers.
properties (22)
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json_metadata"{"app": "steemit/0.1", "tags": ["steem"]}"
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@ashokaks ·
Great Article, Thank you  Upvoted !....  Please check out my profile, https://steemit.com/@ashokaks Please upvote and follow me! Thank you again
properties (22)
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