Anyone managed to exchange STORJ tokens to something else ? Mewconnect doesn't work!

A regular crypto exchange typically requires:

  1. An account.
  2. Fees on deposits
  3. Fees on withdrawals
  4. KYC
  5. Minimum deposit
  6. Minimum withdraw

This is a lot of overhead for crypto newbies or those who just don’t want to go through all the hoops.

Until very recently, it was simple to exchange relatively small token quantities without needing to deposit those funds into a KYC-ed exchange. Yes… of course… Changelly and other DEX-es have a rather unfavorable exchange rate… but the convenience was nice. And the fees on the regular exchanges are really priced for large volumes anyway.

Is there any information about the removal of STORJ from atomic? In the wallet it says “temporary” but on their website it got removed…
Would hate to have to buy some ETH just to move and convert STORJ…

Any transaction on the Ethereum blockchain requires payment in the blockchain’s native coin… ETH.

So, if someone wishes to move STORJ or convert STORJ, there is a requirement to pay in ETH. Transaction fees are not very high. $1.00 USD in ETH should pay for several transactions. However, it’s not easy to acquire such a low amount of ETH to start the process.

As I’ve written in another thread somewhere, one method to acquiring a small amount ETH is to download and install Brave Browser … activate Brave Rewards … KYC with Uphold … and then watch ads for a month.

You can then withdraw your ad watching proceeds as ETH instead of BAT. You will pay a very large percentage fee… however, your wallet will now have enough ETH to pay for the STORJ to ETH transaction process. So, you will only need to do this once. And from that point forward, you shouldn’t need to worry about the low level of ETH required for transaction payments.

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Luckily the eth fee is very small and I still have 0.50$ of ETH in the wallet :smiley: So guess I’m good if I want to move my STORJ.

But I’m still wondering if the in-wallet exchange of STORJ will be available again at some point because I couldn’t find any announcement about STORJ being removed as a trading pair inside Atomic.

The in-wallet exchange interface is a convenience…

You can perform transactions or exchanges using the wallet’s addresses directly in the Changelly web interface… or, you can import the private key for the Ethereum portion of your wallet into a browser based wallet such as Metamask

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Now I gone through the whole process exchanging a little bitcoin for eth and send them to my mewconnect wallet. Now it works exchanging STORJ to Bitcoin from Mewconnect.
It had been so very easy for the mewconnect people to improve the error handling and just give a message saying that I got to have a little eth to exchange the STORJ.

Thanks for the help here!

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You may want to:

  1. Mark this as solved using the above post so people reading along know right away that having a zero ETH balance was the problem.
  2. File a bug report with MyEtherWallet indicating that the error message was not helpful in determining what the actual problem was…

easy just use flyp.me and change your storJ into whatever you wish

It’s a DEX. The “exchange fee” is listed as 0.5 % …

Pretty much all the various DEX-es are the same. There’s a seemingly low exchange fee, but the exchange rate is unfavorable. This means the DEX makes its profit via arbitrage… which is fine.

However, it’s very likely that regulatory controls are soon going remove any “privacy-respecting” DEX-es. It’s also possible that using a particular DEX may technically be illegal depending on where you live even within the same country. For example, NY State has banned its residents from trading in certain crypto currencies and on certain exchanges… but other States don’t have those bans in place.

Hey @seanr22a,

I also started with MEWconnect, because this seemed to be the only with Mobile App (I like this).
But I am already using TrustWallet, so I just use that. Since Storj uses ERC-20 token you’ll be fine, from the TrustWallet you need a little ETH gas to put your Storj tokens to where you want (Or just keep them in your trustwallet).
So basically you’ll be fine as long as your using an ERC-20 address on a corresponding wallet.

I successfully used flyp.me to exchange $60 Storj to $59 ETH. The fee seems reasonable to me, and I didn’t need an account which was convenient. IIRC the fee changelly charges is a little lower. For my wallet I use MetaMask. I wanted to run a full node, but it turns out the ethereum blockchain is HUGE.

Edit: Two comments above contains some flyp.me criticism which you should read as well

You can buy ETH on any other exchange and transfer it to your wallet. If I remember correctly, I bought ~€2 at Coinbase and transferred it to the wallet I use for Storj.

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$20/TB for egress to customers and $10/TB for repair traffic and audits

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Have you used Instashift successfully before @Alexey? I have looked at their site and it appears STORJ is currently not accepted to be deposited. I then went to their support telegram group and as soon as I inquired there when the deposits would be reactivated (I identified myself as Storj Labs Customer Success Manager) they blocked me from the chat. I would caution our users when dealing with such a service that instead of answering a simple question blocks official token representatives from their support group. If anyone else wants to try to follow up, their telegram is https://t.me/instashift

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On my side I’m using changelly.com to exchange storj to eth or other currency. Always work perfectly for me.

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Yes Changelly, Coinswitch and several similar instant trading platforms have been shown to be reliable options to switch to other crypto, however, the attraction of the instashift exchange (if not a scam) would be that it offers direct exchange to fiat (not only Euros) in several countries. I agree it is better to stick with already proven to work options, when it comes to crypto exchanges, one can never be too careful.

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@Alexey:

Sure, but because currently repair bandwidth is very small (tens of MB a day), and audits are insignificant in size (tens of KB a day…), I did not take them into account.

Thanks for this link, I didn’t know services like Instashift existed.
Is there anyone who already tried Instashift?

Thankfully things have improved greatly thanks to #DeFi :wink:

  • You don’t need a crypto exchange like Binance to convert STORJ, just use Uniswap
  • There you can convert STORJ directly to DAI (a stablecoin pledge to the USD) or to ETH (or any other ERC20 token - but I don’t think you want this)
  • With DAI or ETH you can: 1) send DAI to compound to grow your money (better than any bank savings account - interest rate is currently over 5% year) 2) send DAI or ETH to your Monolith card, so you can exchange it to EURO and use it in any shop 3) just keep it in your hardware wallet

If I get my setup running and all I don’t think I will withdraw every month for the reasons you quoted above (fees here and there), so probably would do this every 3 months or more. And I probably won’t change to fiat for the next two years… the future with Ethereum 2 looks very promising.

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yes, agree with this. if StorjLabs are going to pay based on USD, then rather pay the people with a stablecoin linked to the USD (i.e. DAI) or at least allow the option to the people to choose how they want to get paid.

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