Binance Payouts (free)

I would like to suggest another payout method of payouts for SNO, it Binance internal transfer.
The key features:

  1. It free
  2. It immediate
  3. You can transfer any crypto to another internal account.

Of course are internal transfers for free since they are not on chain. But taking it out from binance is expensive.

And they have full control over your wallet and not you.


problem with that you dont own this walet, if binance close his dors, you will lose all your money there

It would still be useful for people who don’t mind not having control of their funds.
Some people value ease of use way more than control/privacy.
As for the costs associated from withdrawing from binance, I think pretty much everyone here will send their tokens to an exchange one day or another so that shouldn’t be a problem. Especially if the person intends to change the coins to fiat.


The problem with that approach is SNOs will flood Storj support asking to help them if they get in trouble, why, because Storj provided the option so they are “automatically” responsible to help out. In my opinion that is unnecessary burden.

This is very true but if I recall correctly Binance had removed Storj and forced users to withdraw their funds. HOLDers aren’t going to enjoy being forced to sell when they are not ready.


Valid points, a but I think that it would be an option worth exploring that people who are less “tech” oriented might like.
It would of course come with it’s fair share of warnings when selecting that option explaining the disadvantages of storing tokens on an exchange.
I think that eventually giving a few options for payout can only be a good thing as long as SNOs understand the consequences of their choice (ie exchange closes or also if they lose their private key).

I think the best solution is to give SNO choice opportunity between different payouts methods and my proposition is only one of these methods.

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Not neccessarily true. I currently use Atomic Wallet, which is completely offline. I still exchange different currencies as I see fit (e.g. to get some more btc) but Atomic then sends those funds on-chain to an exchange and sends me funds back. This is of course a whole lot more expensive than trading on an exchange directly but a lot safer.

However, I would have no problem with my storj being on an exchange. I might even trade more that way and whenever I feel like it’s too much (e.g. $150) then I just send those funds back to my offline wallet.
It would certainly be better for smaller SNOs and a lot easier than zksync.


Then you’re not part of the “pretty much everyone”, however you’ll agree that you can’t exchange them into fiat via the atomic wallet.
All I’m saying is that it would be a valuable option that some people might like.

Yes and I agree with you on that. I’d prefer that solution over zkSync. But people who might not like to trade or pay attention to their payouts, will likely prefer an on-chain solution. Maybe having both options would be best but that’d be even more work for storjlabs.

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None of this prevents having to pay for fees though, Mind as well pay the fees yourself for storj to transfer to your wallet. Id rather my coins sit in a wallet I control then have them sit into an exchange wallet that costs a fortune to withdrawal funds.


Yes, i think that multiple payout methods is the way to go as long as it doesn’t require too much work.
However I’ll probably stick with on-chain payments for the added security and peace of mind, even if they don’t come in every month.

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By beeing a SNO you are already “tech” oriented. Crypto itself is tech oriented. It’s most times only marketed as beeing user friendly, with all kind of shitcoins and smartphone apps, to scam people for their money.

You’re right I didn’t phrase it very well. I was talking about someone who isn’t “crypto oriented” or something like that of course there’s no perfect way of saying it.
Like me for example, I’m pretty tech oriented but I’m not very familiar with the technology behind Ethereum, yes I know about the blockchain but smart contracts etc, not so much.

Anyway I reiterated my point a few times now, I think that it would be an interesting option and one that doesn’t seem overly complex to put in place (of course I’m no expert).

Well I’m very tech oriented too but why do I need to waste my time looking into all those options and check for myself which ones are trustworthy? If being an SNO is supposed to be easy, I expect all neccessary information to be available from storjlabs publicy, so I don’t have to go through all that and can just trust storjlabs (which is of course a bit funny because if you are new to being a SNO, you need to check for yourself if storjlabs is trustworthy :smiley: )
If you want to convince someone from your familiy/friends to run a node who has no idea about crypto, it’s already hard enough explaining storj and the basic ecosystem. Anything more and it’s just a lot more complicated.


This and its not really our responsibility to find ways to lower the fees either, our jobs are to make sure our nodes are healthy updated and running correctly. I do not expect every single person running a node to go out of there way to make things more complicated an creating more work for themselves, then worrying about how there going to get paid for their running nodes.


Why don’t use internal wallet in storj? A storj wallet? No fee to them and auto regular payment, easy withdraw in dashboard for exemple
A dashboard in website, not in node

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I posted this with the same intent.

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it’s not exactly the same thing, but why not ^^

You described the L2 in the exact, how it would act in except that it’s developed not by StorjLabs.

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