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How to make use Centralised Finance to "Combine micro tips"
Thanks to Hooi Yew Lim's noise yesterday mentioning about the problems of microtips turning into a massive "lag" and time consuming with larger gas fees when transferring from one wallet to another steered me to experiment how to "combine them" into "larger bills" instead of using cents to buy something in the future.
My theory is that the more micro transactions the higher the transfer fee is going to be because of the size per transactions are all combined together, just like what hooi has cleverly pointed out how using a bag of 1 cents / a penny to buy something from a stall would have relayed the cashier from settling your transaction.
I understand those who are pro-DeFi does not like the method, but so far, the least hassle for a newbie in BCH to make BCH usable and quick would be going through a centralised service that would technically "combines your earnings to a bigger dollar" and sent back to your wallet fee FREE without a headache of actual use later after hodling for some time.
Besides, while putting it there you can also earn some extra dividend until you need to place it to your wallet later.
So far from the least hassle that is straight from the comfort of your phone, so far Celsius Services could still be the easiest for the "conversion" to take place. Let them do the headache of making sure the right amount is sent to you quicker and in one piece when you reach like $10 USD worth of BCH for example by:
Remember, Celsius is still a centralised service. Not your keys, not your money; and besides, although they didn't mention a minimal deposit amount but they always promote it as "as little as $1" if not mistaken also in their FAQ, so let's keep it that way, at least $1 per transaction.
Moreover, if you decide to withdraw later, at least you are still staking your money for it to grow while you move it out later into a bigger "dollar note". Your BCH is not sitting idly doing nothing.
Price still appreciate and depreciate no matter it is in your wallet or in a compounding service.
So far I have not ventured into other BCH projects that includes a DeFi Yield project; but if you really want to keep it DeFi the closest "DeFi" I can see is on the Binance Smart Chain, where hardly any swap services have BCH staked for the same compound crypto.
Even Pancakeswap has taken off the LP farm selection of BCH. So my best bet is still on Celsius, because Nexo requires higher minimal withdraw. Based on today's market value, the minimum withdrawal amount is $6.89 .