How are Bitcoin transaction fees so low?

[pareshnakar]

Bitcoin transaction is not so low but network technology is good now bitcoin is world wide everytime update and block chain is good technology so it is very easy to now a days bitcoin transactions.

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[Rufsilf]

Recently i came to know that there was a 800M$+ transaction with fees around 1$,how is this remotely possible?
To my knowledge the transaction fees is actually a reward for the mining computers for successfully helping us create a block on the block chain.With such low fees wouldnt miners be discouraged to do so i.e. wouldn't mining become less profitable.

The calculation of the transaction fees differs on the number of inputs you make on the said transaction, so in direct answer it doesn't matter how much you transact but the transaction fees will be based on your transaction size because miners can only confirm 1MB in each block. And also transaction fees does have to do on the supply-and-demand, like the more transaction the miners have to do, the higher the fees because there are a lot of more users than miners itself.
Miners aren't discouraged by such low fees because they are handling many transactions in any given day with fees from $1 up to $60 each transaction.

[SFR10]

With such low fees wouldnt miners be discouraged to do so i.e. wouldn't mining become less profitable.

Other users have already covered almost everything, but I'd like to add that, there are still certain mobile and online wallets ^{[regardless of their nature]} out there that due to some misconfigurations or outdated sources, tend to overestimate fees and that "still" leads to tech-illiterate people unknowingly pay a lot more than they should!

bitcoin trade costs are shooting up again. Recently, the standard bitcoin trade cost has moved a few spots in the degree of $24 and $31, according to data provider Bitinfocharts.

Are you sure you were looking at the "correct page ^{[it's nowhere near that]}"?

[Abiky]

Recently i came to know that there was a 800M$+ transaction with fees around 1$,how is this remotely possible?
To my knowledge the transaction fees is actually a reward for the mining computers for successfully helping us create a block on the block chain.With such low fees wouldnt miners be discouraged to do so i.e. wouldn't mining become less profitable.
Also bitcoin can never become proof of stake unlike other coins,so where does this leave us ?

Bitcoin fees are so low right now because most exchanges and wallets switched to SegWit. That, and the fact that most people are not moving their Bitcoins because of the bear market. The lower the network load, the lower the fees will be. Considering that SegWit technically "increased" the block size limit (now block weight), fees will remain low for quite some time. A new upgrade called Taproot (which has been recently activated by miners), will make fees even cheaper than what they are right now. With all of these benefits, who needs forks like Bitcoin Cash or Bitcoin SV?