The transfer fees for the new coins on Celsius Network are ridiculous! Matic, Livepeer (LPT), Kyber Network, Synthetix (SNX) and LINK are the new additions on Celsius Network, with amazing interest rates of staking and annual yield go to 22.4%
The higest interest rate is available if users choose to earn in CEL, however, the rates are higher than the others platform so worth a try.
I currently own Matic, Kyber, Synthetix and Link but no LPT, and I wanted to see if I will be better moving my assets to Celsius. I moved about 50 KNC from Coinbase with no Coinbase fee and 1.2 KNC network fee, approximately $1.60. Calculating the 3.43% interest minus the send back network fee, I am still better with the KNC on Celsius. LINK interest is 2.71%, while on Binance is 0.89%, however, I want my Chainlink on an exchange where I can swap them if they go to the moon. The interest rate make not a massive difference if you think about the transfer fees. Matic transfer fee is high for low amounts, as per my 1099 units I had to pay 95 for the transfer, approximately $2.30. If you consider the send back transfer fee, for me make no sense to move them, even if the interest rate is 22.4%.
It gets even higher for Synthetix, making the 22.4% interest rate not attractive. To move 14 SNX, the network fee was 2 SNX, approximately $11.82. With the same amount to be paid the send them back, moving Synthetix to Celsius sounds ludicrously stupid. For higher amounts of crypto, probably the interest will cover the transfer fees, but I am not a crypto whale, just the average crypto sardine. **Links and referrals:** Coinbase Earn - Up to $59 Compound (COMP) https://coinbase.com/earn/comp/invite/g7hf830w Coinbase Earn - Up to $52 worth of Orchid (OXT) https://coinbase.com/earn/oxt/invite/jdfg5tkc Coinbase Earn - Up to $50 worth of EOS https://coinbase.com/earn/eos/invite/d1ztp30q **Amazon author page:** PV Mihalache https://www.amazon.co.uk/-/e/B019FB0ZNG **Quality Faucets:** Stakecube (20 daily faucets) https://stakecube.net/?team=sadu1 Tier 4 referral system: Horizen (ZEN) & ZCash from PipeFlare & GlobalHive https://getzen.cash/auth/register?ref=252508 https://pipeflare.io/r/zxn https://globalhive.io/auth/register?ref=1917 **FreeCryptos Gang**: DASH, TRX, ETH, ADA, BNB, LINK, NEO & BTC https://freedash.io/?ref=3945 https://free-tron.com/?ref=24942 https://freeethereum.com/?ref=39797 https://freecardano.com/?ref=228676 https://freebinancecoin.com/?ref=32397 https://freechain.link/?ref=1187 https://freeneo.io/?ref=1474 https://freebitcoin.io/?ref=319383 **Coinpot Gang:** DASH, BCH, DOGE, LTC, BTC & BTC2 http://moondash.co.in/?ref=D6EA38BF9E32 http://moonbitcoin.cash/?ref=E09F6730A19D http://moondoge.co.in/?ref=E09C54FEC554 http://moonliteco.in/?ref=49E875DC0626 http://moonbit.co.in/?ref=BE0EDE0CD1DC https://freebitco.in/?r=7275997 Free-Litecoin.com (LITECOIN) https://free-litecoin.com/login?referer=895809 **Join** **Lbry.tv** **to earn watching videos &** **Publish0x** **to earn while you read** https://lbry.tv/$/invite/@MindPuzzles:9 https://www.publish0x.com/?a=pmbk1p5ezJ **I use** **Brave** **and** **Presearch** **to earn BAT and PRE while surfing online?** https://brave.com/pvm417 https://presearch.org/signup?rid=1695040
10 comments
Whoah! That's a lot!
Was not so bad for others but this ones are ridiculous
those are high fees for sardines like you and me...Lol. hopefully ETH 2.0 gets here soon.
Small shrimps 🍤 in a ocean full of whales 🐋 and sharks 🦈
Lol 😂
I think this issue will be common for all the ERC 20 tokens. Ethereum needs to figure out a plan for ETH2.0 soon or most people will starting moving to alternates like Polkadot and Cardano.
Its a reason everyone likes Nano, Stellar Lumens... etc
Sometimes moving an asset is not worth it when you consider the fees involved.
If you deduct the fee to send... than to send back... you have to hold it for a long time just to break even
Important factor to consider.