How do you actually convert Storj to USD?

Still trying to figure this out.

If I take the payment in L1, then I have to keep sending Eth to my wallet to be able to pay the gas fees. And of course, you have to pay a gas fee to send it in the first place, so kind of a non-starter due to the amount of fees.

I’ve been using ZkSync Era for a while instead. However, I can’t seem to find a way to transfer it to an exchange that only accepts L1.

I’ve looked at various swap kind of things, and while they seem convenient, all of them either don’t support storj, require a gas fee to be paid in eth, or don’t have any swaps available no matter what quantity I try to swap or how much slippage I allow.

I’m also looking at txSync. It seems to allow me to swap ZkSync Era to L1, but only to the same address. I want to send it to an exchange address. Sending it to L1 is useless because then I’m back to having the exact same problem as just receiving the payments on L1 - I need to put eth in the account to pay for gas fees.

Should I just have it send L1 straight to an exchange? From my understanding, Coinbase’s deposit addresses are always yours, even if they generate new ones periodically. Even if so, I still need a way of getting my existing tokens out of both L1 and L2. And, given the price trends of the token, I’d rather do this sooner rather than later.

We dont recommend SNO’s use an exchange deposit address because you dont own the wallet, and your funds could disappear one day if the exchange has issues. Historically it has happened quite a bit.

That said, we know that a lot of SNO’s are willing to take the risk to save on the fee. Just be aware that some exchanges, such as Kraken, require a minimum amount of tokens to be deposited, or I guess you just lose them.

As for any other free way to exchange, none I am aware of. Transactions of tokens or things like Bitcoin always cost so it is registered on the Blockchain.

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If you send to an exchange like your tokens can be turned into fiat on one of their Visa Debit cards within 10 minutes of your payout arriving.

I’m not necessarily looking for something “free” - I’m fine with paying a gas fee in Storj tokens, especially given the lower fees of L2. I’m also fine with reasonable exchange fees and/or slippage. The part I’m mainly trying to avoid is paying double the already-high L1 gas fees (once to send the eth, and then again to send the storj).

I don’t mind the risk of holding tokens on an exchange, since holding Storj tokens itself is a risk as the value can fluctuate. If there were even just a way to exchange Storj to USDC or similar on L2, I’m all ears, but the swaps I found didn’t have the liquidity for it.

This just comes back to the same issue of actually getting them into the exchange in the first place. Also I used to sell Chia tokens once and the spread was an utter joke.

If you want fiat: you’re always going to be best-off by sending direct L1 to an exchange. The “utter joke” is L2 swap options for STORJ :slight_smile:

Who cares if you’re using an exchange address… if you’re selling the token as soon as possible and evac’ing the cash anyways.

I suppose I should probably just do that.

However, I do still need to get the existing tokens I have out of L1 (175 tokens) and Era (195 tokens), so I’m still in need of good options for those.

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