How to send money for free with crypto ?

Does the idea of sending money for FREE with crypto facinate you ? Then read on...

When we use a blockchain like ETH there is a gas fee involved with every transfer which can make small transfers nonviable.

Are the fiat world financial transactions any better ?

It costs time and energy to earn money

One usually gets paid in accordance to the amount of work he or she puts in. Upon completion of the day, week or month the person gets entitled to a wage which he gets as cash or transferred to his bank account.

There is a cost to use your money

In case one wants to take out money from a bank account one has to travel to the bank or to the nearest ATM machine,
This costs fuel and time. So we end up paying money to get our own money.
In a lot of cases it is not very uncommon that there are charge to withdraw from the ATM or from a branch of your bank which is not your parent branch.

It cost money to send money

In case you are planning to send money to a third person the bank usually takes a set fee and sometimes an additional percentage fee to transfer funds.

The time to transfer funds

Sending funds to another person can be time consuming since there are multiple banks and intermediaries involved.

At the end of the day we living in the brick and mortar fiat world have adjusted to these financial laggards.

Can crypto and Blockchain do any better ?

I recently saw a friend transfer funds using a blockchain

The case in point is Stellar XLM Lumen and its underlying blockchain. For the record the price of 1 Stellar XLM Lumen which is the native token of this blockchain was 12.5 cent or little less then 13 cents at the date of this trade.

Firstly he opened his online wallet which had some XLM tokens to be sent.

All one needs to do is enter the amount to be sent and the recipient address.
There is an optional memo to attach a message or note of instruction.

Let us talk about the transfer fee

The screen announces almost apologetically
High congestion and the recommended fee as 0.00001 XLM Lumen.

Now with the current price of Lumen being say $0.13 for reference , the fee works out to 0.00001 X $0.13
= $0.00000169
That is for less then a cent and at a dismal fraction of a cent one can send money to anyone and anywhere around the world.

There is no cross border fee or no bank fee.
One can do a transfer without going to the bank.

The time to send out funds

Even though the transaction was not timed with a stopwatch however the underlying blockchain is so fast that the transaction got completed in the blink of an eye.

Seriously that is how fast the payment went through.

The proof of transfer is on the blockchain

Since the transfers are logged on the blockchain the transaction id works as a receipt or proof of transfer.

People still doubt this tech ?

Blockchains and cryptos are proving so many use cases yet people are skeptical. One can say that the tech is an emerging one and evolving so would experience some growing up pains but to write it off as a hoax or a danger to the world would simply not be fair.
Another point to note is that not all cryptos and blockchains are the same so please DYOR do your own research before you invest or use a product.