Are small transactions not economically feasible?

You can make small transactions using "banks" like Coinbase, Xapo and most cryptocurrency exchanges (they have account-to-account free transfer feature).

You should trust these "banks" only for amounts you can afford to loss. Don't store most of your assets in "banks", be your own bank.

It is similar to how the legacy financial system works - if you make bank-to-bank transfer you pay a fee. If you transfer between accounts within the same bank - this usually is free.

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