Topic: Which currency do you prefer to use for BTC/LTC/ETH transactions? (Read 425 times)

Funny thing is that LTC has even greater acceptance and liquidity than most of the overhyped coins trading on the market today. It's why many proclaim Litecoin to be "Silver to Bitcoin's Gold". With cheap fees and fast confirmation times, LTC proves to be a great Bitcoin alternative. If it becomes congested, you can always use Dogecoin or another cost-effective altcoin. That's the beauty of open source + decentralization.

Hopefully, Bitcoin fees would decline as developers introduce a series of network upgrades that will help tackle the problem. We may have to wait until the halving ends to experience a relief in our "pockets". Despite the high fees, Bitcoin is still the most popular cryptocurrency in the world. Who knows what lies ahead for the entire crypto/Blockchain industry?

LTC had been my goto coin for over a year now. They have one of the lowest fees, Less than 1 cents and the transaction are quick.
It's amazing how we still can transfer large amount of value quickly spending less than a cent. Compare that to a BTC transaction which takes over $10.
LTC is accepted almost everywhere. The 2nd most used coin specially transferring in and among defi are BNB and BSC tokens. They take about 10 cents on average to move.

Taxable only if you use centralized exchanges. Keeping everything non-custodial (decentralized) and P2P is the way to go. I think with all of the publicity Bitcoin has (especially with the recent approval of spot ETFs by the SEC), fees will stay high for a prolonged period of time. One would hope Litecoin doesn't experience these issues in the long run.

Bitcoin developers are going to need to introduce a series of network upgrades to address the "high fee problem". The LN is not the ideal solution for this, especially when it requires users to pay high on-chain fees to open/close channels. I guess this inconvenience forcee people to choose an altcoin like Litecoin or Solana instead of the LN. Fingers crossed things will get better in the long run.

Using Litecoin to move crypto around is never a bad idea.  Keep crypto in bitcoin than shift to litecoin when ypu want to move crypto and back into bitcoin.  2 problems with that is spread rate between the 2.  And the second and even more important is every move into another currency drives a taxable event at least in the US.  I'd keep some liquid in litecoin but the downward risk is too great to keep too much in LTC.

Bitcoin lightening network's gas fees is still considerably cheap and most of the major exchanges support bitcoin lightening network so bitcoin Maxis can still use bitcoin for any form of transaction. Transaction fees of LTC is low but they can not be used everywhere. So the best option is to use USDT or USDC in solana or tron network as those blockchains are one of the fastest right now and USDT and USDC are widely used crypto assets used by exchanges and their partner companies including banks.

ETH was good until it became plagued by NFTs and worthless "meme" coins. Bitcoin is heading to the same path with Ordinals inscriptions. You'd have to choose an unpopular blockchain like Litecoin or TRON if you're eager to save money on fees. I'd say LTC is the most decentralized and cost-effective alternative compared to the rest of the pack. It's widely accepted across a number of merchants/businesses worldwide.

Hopefully, Bitcoin Core developers would solve the "high fee" problem before it gets too late. As I've said before, the Lightning Network is not a solution to all of Bitcoin's problems. It's highly-dependent on the main chain to survive (you'd need to pay an on-chain fee to open/close channels). On-chain scaling is the only way to go. It must be done in a balanced manner to avoid sacrificing decentralization in the long run. Who knows what the future holds for the entire crypto/Blockchain industry?

Since Bitcoin network fee had been increased lately, I don't think anyone would want to go for Bitcoin which we all know that it has good liquidity and more safer for us to hold. Anyone that would choose Bitcoin irrespective of the height of transaction fee would be reddy to face it all. Lite coin is the best option anyone would want to go for looking at how low the network fee is and the spend of transaction.
People would have to prefer Bitcoin if the transaction fee is finally lowered.

Despite bitcoin high transaction fee I see no reason why I will prefer to use any other coin rather than bitcoin, since I don't spend bitcoin all the time I will just stick to bitcoin because the transaction fee is something I spend often. I haven't seen anything yet that will make me to consider any other coin to bitcoin. Right now bitcoin has the highest transaction fee but I still choose it to any other one.

Same here, because the two coins are always available on so many exchanges and wallets that I use. But if in case Tron USDT or simply Tron is available, I will also choose it. My other alternatives would be XRP and Matic. It is sad that many of us small users are rarely using ETH.

We already know why. But before, ETH is is mostly our alternative next to Bitcoin. The only thing that we can do right now is to reminisce those times. We can only hope that there will be a fixed that will happen in ETH and maybe in BTC too since there are ordinals which may be the reason on why the transaction fees are getting costly and I'm afraid it will remain like this if no actions were taken.

I have used both the TRX and Litecoin, both are pretty good to make use of in this current situation where Bitcoin transaction fees are higher. Spending huge fees just for a little amount of transactions, this changed many into using stuffs like the LTC and TRX which ease the excess spending. while we don't know when Bitcoin transaction fees will go back to normal we continue using anyone of both but personally I would prefer the TRX cause I feel the transaction speed is faster than that of LTC.

LTC seems to be the best choice right now. Especially when it's accepted by many merchants/businesses online. While some other coins are cheaper and faster than LTC, they often lack mainstream acceptance. You can basically buy almost anything with LTC. Just like Bitcoin. Not only that, but Litecoin is available in almost every crypto exchange you can imagine.

I hope fees stay low on the LTC blockchain forever. It could live up to its name of being "Silver to Bitcoin's Gold". The Ordinals hype on the Bitcoin blockchain might not last for long, as people move on to the next big thing in crypto. Who knows what the future holds for the premier cryptocurrency?

My most Go to Blockchain has been Tron (TRX). it is fast, has a low fees (almost none) and supports most of the tokens/coins I use (Mostly stable coins, USDT, USDC) beside this I use the Binance chain often. Ethereum and Bitcoin are only when necessary (mostly to receive payments from others) otherwise I avoid these two. these are just for holding..
the thing is when you have a Coin and that coin's blockchain is so congested you still have to transfer that to an exchange to convert into the right currency you want to use. and that's something I don't like.
I didn't get to use Litecoin until now in my crypto journey but I have heard a lot of good things about litecoin and hopefully someday I get to use Litcoin blcochain for my regular transactions.

Well I will say it is BTC or LTC for when I want to send transactions. But now it does cost $6 for a BTC and only few cents for the LTC one. So I have been sending my crypto using LTC for a short time now.
https://privacypros.io/tools/bitcoin-fee-estimator/
https://litecoinspace.org/

I have tried using many altcoins but I didn't really like having investments spread out across so many wallets and blockchain networks so I just stick with Bitcoin. To save on fees I have started using the lightning network. It's not always the smoothest experience but I still prefer it over using altcoins.

Ethereum fees have been high for many years, sometimes even higher than Bitcoin so it is not a very good substitute. I'm not too interested in dapps but even if I was, most of them are available on Polygon and BSC which have a lower cost.

Litecoin is fine but it's mostly a Bitcoin clone. LTC isn't unique enough to interest me. Having Lightning as an option for smaller payments makes Litecoin unnecessary for me.

People often overlook these coins (LTC and BCH), because they consider cryptocurrencies as an investment tool. Not digital cash you can use to pay for goods and/or services. At least, fees are extremely-low in Fiat terms. The lower the market price for a coin, the better.

Once a Blockchain network gets congested, you can say goodbye to low fees for good. That's if developers don't introduce scaling upgrades meant to mitigate the issue. It's what's happening now with both BTC and ETH. At least, we're not tied to a single coin. As long as there are plenty of alternatives to choose from, there should be nothing to worry about. Just my opinion

The disruption or congestion in the network is caused by ordinals and inscriptions
https://coinchapter.com/ordinal-inscriptions-wreak-havoc-on-blockchain-networks/

The blockchain should have been solely for transactions but because of these inscriptions there's a 20% surge in transactions and it will even go higher, some developers are working to fix this issue like what Cronos chain is doing.

Right now the preferable alternates for Bitcoin are Litecoin and Dogecoin, but many networks and companies adopt USDT, many altcoins are good alternatives right now, it's their time to shine now because of the traffic congestion in Bitcoin blockchain.

For trading, I have been using USDT, it makes it easier to know how much profit or loss I've made compared to a fiat equivalent. For withdrawal between exchanges, I mostly prefer LTC as it generally  have the lowest fee and wider acceptance. An immediate alternative to LTC is BCH and exchange like Coinex provide zero withdrawal fees for it. My goto dapp platform is BSC and binance provides zero or very low withdrawal fee for BNB and related tokens. Gas fees on BSC are cheaper compared to ETH and the problems are fewer compared to matic.

I am not sure if it will come back to "normal", I mean it could come back to something decent, but doesn't mean that it will be "normal" ever again. I think it has to be something that needs to be a bit more logical in the end, and has to be something a bit more decent. I get that it is going to be something that will make sense one way or another, and I have to deal with something that should be a bit more confusing over course of long time.

I guess it is not always that weird, because in the end we are going to see it change either way. Sometimes fee's are higher, sometimes lower, but at this point it can't get back to normal, it is not going to be lower. This is why I try to use the cheapest method I could find and cheapest chain I can find.

I'm hopeful too about btc transaction fees to come back to being normal again, because it remains the preferred choice, I guess that this lingering congestion is because of the events that concerns Bitcoin that we're expecting next year and investors are flooding it's network for transactions. Litecoin, usage has been unanimously agreed that it has a cheaper fees compared to btc and eth that were preferreble, so as it is now Litecoin, has carried the day in terms of it's cheaper fees, until btc and eth networks stabilizes.

I have not used Litecoin but I am seen even managers asking Signature Campaign Participants to send them Litecoin wallet address for them to use it as payment wallet in their Campaigns, and from what I am seeing I can notice that Litecoin is one of the best coin in the cryptocurrency ecosystem space.  And for now I am only using Bitcoin and no any other coins. And the channels of your transactions are not stable, sometimes Binance, with different vendors. Anyone pays me with the highest price I send the coins to the person wallet and collect my funds.

People were saying that Litecoin Blockchain is not congested so the fee is lite to make transaction.

We know crypto transactions are swift as long as one uses a stable and reliable coin for transactions, when it come to these parts, we have the stable altcoins like USDT and Trons. We all like our crypto transactions to become easy and going in the market, no other special place than skipping the challenges and focusing on building strong foundation in the market. All these mention transactions networks are acquainted with high fee and this also shaken our transactions in the space. Litecoin can only recommendable because it's cheap and works in position of Trons and USDT.

Well, all this time, I have sometimes looked for very low fees for making transactions. In the past, I often used XRP, LTC, or even TRX. I still think that ETH has very high fees for transactions, so I chose the 3 altcoins which have lower fees depending on the conditions. However, I would also use ETH if that was the only option, but on the condition that I wait for the fees to become a little cheaper.

The OP's question is indeed very subjective matter as it depends on various factors.
Let us say for example, even if you want to use LTC as they have cheap fees, but the platform you are using don't have LTC but only ETH or BTC, then what would you do?
So even if you have preference on which currency you want to use, sometimes it is the circumstances that will dictate what you need to do.

IMHO, Litecoin doesn't need any more promotion or marketing. It has its own title as the silver Bitcoin and that's more than enough already. While you think that it's no sense to use other coins with cheap fees, you can't stop people from using it because they have to do the transactions and they need the money on their hands so they're just looking for solutions that might fit for them. So if it's not for you, that's fine but if it works for them, it's okay. I agree about LTC to be better than them as I also use it but there is no doubt that these people are just using them for the sake of cheap fees and the actual term of alternate/alternative cryptos for its purpose.

What's the point of having cheap fees, if the network you're using is centralized? Most people don't care about this as they prefer convenience above all else. If you want the best of both worlds (decentralization + convenience), I'd suggest you try Litecoin instead. It's fast, cheap, with a tried-and-tested blockchain network that's truly censorship-resistant. Not like Solana which is centralized and subject to network outages.

The reason why LTC isn't pumping is because of poor marketing/promotion from the developer team. It doesn't have smart contracts (unlike its competitors) which is a huge turn off for many. I'd prefer LTC anytime because of the reasons mentioned before. ETH for once stood as a great alternative to BTC, but it got "ruined" after the switch to PoS. Not to mention developers are clumsy (no offense intended) when it comes to scaling the main ETH blockchain. They're leaving everything in the hands of L2/off-scaling solutions such as Arbitrum and Optimism.

As crypto becomes more popular, we should expect fees to rise over time. They will only stay low if developers continue to increase transaction capacity of underlying blockchain networks. As long as decentralization isn't compromised in favor of scalability, nothing else matters. Just my opinion

it's simple, if the network is normal, i might prefer to transact using bitcoin compared to litecoin or ethereum, because more people use bitcoin for their transactions. but for the current conditions where fees are very high, i prefer to use litecoin where the fees are much lower than the two cryptos.

I think it would be prudent decision to use Litecoin for transactions purpose as its fees compared to Bitcoin lower and faster. Additionally, there are many other cryptocurrencies which offer even more effective transactions with higher speed, such as Solana, Matic and Tron networks. The potential of reduced cost transactions fee on Bitcoin network becomes feasible once lightening network is fully adopted.

As of now, who is looking for an alternative to BTC network then $2 seems to be a negligible amount to be honest because the fees on BTC network are constantly around 150sat/vb and more often it clocks 300-400sats/vb.

For current condition of bitcoin I would also rather choose LTC when I think I want to do transaction to anywhere I want especially for trading and my gambling activities. But for other investment perspective like holding well I would like to choose these three coin but if there's only one to be choose for long term I guess there's no question with this since I will always go with bitcoin since there's more promising future for this coin and I also think that we can see some good growth compare on those coin mentioned since bitcoin has a high chance to get a global adoption. It happen already on El Salvador so provably we can see more.

An old forgotten topic is brought up again, but I think this issue has also been discussed a lot before. If the problem is just fees, then we really have a lot of different options, not to be too forced to spend fees that users are not willing to, but the recent problem of BTC or maybe also ETH makes payers may be more hesitant about the transaction process, but for me it's not a problem at all because this is not a barrier, it's just something new people don't have much contact with and even people who don't want to spend fees. With LTC, I completely agree that using it doesn't mean much in terms of fees, but honestly, in my personal case, I don't pay much attention because I only see it as an option to optimize the portfolio, not purely for transactions.

Amongst the 3? I definitely choose Litecoin because of the transaction fee, it's actually less than $3 or $1 compare to the Bitcoin and Ethereum especially when the time of pumping or if the blockchain is really busy. I really don't mind using all of 3 as they are established coin with a big market cap so I wouldn't be bothered that it would crash or pump drastically, but we have different preferences. I just like the LTC in doing big transactions to keep my fee low and BTC and ETH for micro to average transactions (But sometimes I still use LTC to average transactions).

This thread is somewhat old (August) but it is still the thread that fits the same people's decisions due to the present conditions of fees unless Bitcoin changes its ways. ETH was the issue before, but now, Bitcoin is more issue, and I have never seen LTC given people issues before. This is why no matter how the situation is or how I love Bitcoin, I always consider two things in my transactions. They are the fees charged and the time spent to reach the beneficiary address.

Considering these two criteria, LTC won the two of them (BTC and ETH) when it comes to the low transaction fees and the time to see the money in the beneficiary account, which is why I mostly trade and invest the two but do not use them for my financial transactions. But this is unless the transaction must happen in BTC, this is only when I do not have a choice and I believe my decision is fair enough even as I do not trade LTC at all.

always been a Bitcoin user because My family and some friends are in US so we are transacting using bitcoin since then , but nowadays that the fee is too high and even longer in coming , we agreed to use different coins and now having USDT instead , volatility will never be our issue since most funds sent are to convert and withdraw.

But locally ? i now uses Ripple and yes like yours Litecoin as I am once a investor of LTC.

I prefer Tron as the fee is too low and the confirmation happens within 3 minutes which is very fast. Earlier I used to use Bitcoin but after the recent congestion in the network and the high fee, I am using Tron blockchain. I have not used Litecoin or Ethereum for making payments. For trading on Ethereum dex, I keep some Ethereum in my wallet to cover the gas fee and the same goes for BSC.

I have all my holding on Bitcoin so all transaction are being done with it, despite the transaction fees, I still find it convenient to use. But there are other alternative that could be used in this situation of mempool congestion leading to increase in transaction fees. Even those using  only bitcoin could swap to a coin that uses lower transaction fee when they are about to make transaction to escape from the high transaction fees. Op since you are comfortable using Litecoin fro transaction I advise you stick to what's good for you, rather than looking for any alternative that might not suite you.

BTC and ETH transactions fees are continue to skyrocket again so Im not using this two networks at the moment, XRP, XLM, SOL, DOGE, LTC and other layer2 chains can be consider but not ETH just a waste of money using it imagine spending $20 for swaping your tokens into different assets or networks thats insane.   

You can leave using bitcoin awhile because cost fees transaction for sending through wallet above $5 and its bigger fund for us small investor, I think you can keep use LTC with lower cost fees transaction right now. Last transaction with Ethereum when swap coins I spent almost $100 for fees transaction including sending coins to other wallet and approving swap until swap cost. Although not spent all $100 but left my fund under $40 and risk when trading coins with Ethereum network not list yet on CEX exchange.
Other coins have lower fees cost transaction is Solana coins and their CEX still lower cost under $0,1 every transaction, we need move our transaction or trading coins when ETH or BTC with higher cost fees and looking with other coins have lower cost fees to earn much profit without paying highest cost fees.

I have used many Blockchains to try. But there are some which are faster and almost 0 fee. I have used Algorand Near protocol Zilliqa chain. Avax chain. There are much more. If you are talking about Ethereum so there is a problem with Ethereum network. First is there is a high fee sometimes. And gas fee change continuously means if the fee is 20Gwei at this time so after one minute this can jump to 40+. And you set the 20Gwei so you have to wait for 20Gwei if the gas price is up.
So I will prefer that if you are using Litecoin so it is better.

If you care about fees then you won't be using Ethereum lmao. We're not even in a truly full-fledged bull market yet and Ethereum fees are already in the $2 range; guaranteed to be far higher than that if the markets go bonkers.

It was a question that's been asked months ago but it's very timely. Using BTC now for transactions will be costing you a lot of fees and might be the same for ETH because sometimes fees there are also that much. For LTC, I've used it and it still has cheap fees at all.
If there are other networks like the TRC20, matic sol, and many others. Wherever you can save fees, use them at this moment but eventually for the fees of Bitcoin, I think that they'll be very back soon for being cheap again.

You cannot use a network only because it has lower transaction fees because if your counterparty cannot easily convert it to other currencies, they will not accept it. SOL has one of the cheapest transaction fees out there, but outside its ecosystem in the real world, it doesn't have that much acceptability. Even HBAR charges a fixed fees for all transactions, no matter how congested their network is. This type of model well fitted for daily transaction but you can not use it for that purpose because no one will accept it outside of an exchange.

For me, it's preferable to use coins based on cheaper networks when conducting small to medium transactions to save on fees. There's no need to lose a few dollars on a network with high fees when I can do the same with much lower costs on other networks and currencies. Indeed, Litecoin is suitable in terms of fee cost and transaction speed within its network, but not as slow as you mentioned. Mining a Litecoin block is faster than Bitcoin, taking only two and a half minutes to confirm a transaction. Also, the quickest and cheapest option is BNB, as the BSC network has minimal fees and a block time of no more than 5 seconds. Bitcoin and Ethereum can be used when the transaction amount is significant, as there is a slim chance of reducing transaction values and significant price volatility occurs, similar to other currencies.

Its not always about acceptance if you are talking about daily transactions. If you want to buy a coffee with BTC then i think you don't want to pay 20$ gas fees for 30$ worth of coffee. That is not worth it and LTC has been used in some online marketplaces but it is not as popular as bitcoin. Non-crypto guys might know about bitcoin and most of them are unaware of the existence of coins like litcoin, bitcoin cash etc. Stable coin is very popular in some countries where inflation is super high but it is still not that popular in the west where people have no reason to use the crypto version of their fiat currency.

i haven't seen any merchant accepting LTC actually but the majority accepts BTC, ETH and stablecoin. but to be completely able to make transactions, it is convenient to use BTC, it's the first option the shops want.

it's not about what you prefer, but its what the other end wants also. so if they want stablecoin especially when they see the price of BTC gonna dump soon, they will prefer to accept USDT.

I don't have a personal preference for a specific currency to use in transactions. As far as I know BTC, LTC, ETH are among the best coins in the market, the best coins to trade in the market. These coins usually have fast transaction times, low fees and wide acceptance. BTC, ETH is widely accepted and commonly used for transactions, although it has slower transaction times and higher fees than other currencies. However, LTC is known for its fast transaction times and low fees, making it a popular choice for transactions. However, use cases and preferences are personal when choosing a currency for transactions.

The one that has the lowest transaction fees and is widely acceptable. Right now bitcoin and ETH have insane fees even if you want to transfer 100$. So right now its not worth using those networks for small transactions. On the other hand LTC is giving much lower gas prices for transactions, so i am surely going to use that network from those three. If i can i will use solana or ETH's Layer 2 network as those will have much lower transaction fees as well. But for long term holding bitcoin and ETH is the best choice till now.

The transactions fee of btc and eth are very high and it is not good for trader. I almost avoid the btc and eth for transaction. I use under low rated coins like as tron which transactions fee are very low. I buy litcoin but never transaction. I think that everyone avoids btc or eth because of its high gas fee or transaction fee.

IMO, depends on the size amount you are sent.

I prefer bitcoin, If I send a huge amount money because have more liquidity and minimizes the volatility % gap crypto movement. If you care about fee then you will be choose (LTC/ETH).

So, It's just depends on what you need during transaction.

In 2023 you're far better off just using stablecoins(USDC/USDT) on Tron or Solana. Back in the day LTC and XRP is the way to go because it's cheaper and it's faster, but now that stablecoins exist there's no reason to not use them.

Also, Ethereum is pretty expensive.

Fees required to Bitcoin transactions is not charged by anyone but you the one sets the fee depends on your priority and it constantly varies depending on the mempool situation.

Over the last couple of months, the Bitcoin network is highly congested because brc20 tokens spam the network and users are ready to pay huge transactions making Bitcoin is not practical to use temporarily. LN is an option where you can send and receive BTC for pennies but its recommended only for advanced users.

So if LTC works for you then better use it until the BTC network is back to normal.

Have no in particular but mostly I prefer bitcoin , but in season like now? yeah I prefer altcoins such as Litecoin or  other coins that has cheaper fees , like dogecoin or sometimes even Ripple .
dogecoin is almost similar with litecoin , that has cheapest fees to use.

Have been using ripple(XRP) as long as it is available because there are exchange that does
not support this because of the recent issues they face but Idon't know if it accepted again these days .


You have using a good coin in form of Litecoin but you can add Ripple in your options .


Ethereum on the other hands are mostly like Bitcoin that when there is a Hype, the network
got congested and I experienced in Ethereum one time in which the highest Fee I ever paid that I never
experienced in Bitcoin since then.

Hi, I have been using cryptocurrencies for about a year now where I usually do transactions from time to time in this period of time I have only used Bitcoin and Litecoin, I have seen quite a few people using Ethereum as well and I wanted to know what do you guys use to receive or send money with cryptos. I usually prefer to use Litecoin because it has almost no fees, in Bitcoin for small transactions of just a few dollars $5-$10 they can charge you up to $2 fees or a few months ago when it was broken they charged you $8 fees or more it was crazy, instead Litecoin does not charge you almost no fees and it is very comfortable to use although it is quite slow. And about Ethereum I have seen a lot of people using it but I don't know how the fees and speed are.

Best regards!