I have tried to make textures with transparency but nothing is working. I've tried making a Alpha layer on the image, but it just gets ignored. I've also tried using all of the types of transparency materials and even the cutout materials. The closest I've gotten is when I edit the image in the Inspector and I check off both "Alpha from Grayscal" and "Alpha is Transparent" and what this does is it makes the white background stay visible, but turns the black and any other darker colours...
Alpha image channel not working correctly, transparency inverted
Alpha image channel not working correctly, transparency inverted