you will lose tokens
i also directly put binance Storj address at config.yamlā¦working just fine
Do you use ZKSync for payout?
nopeā¦just use storj binance spot wallet for recieve storj payoutsā¦
This is not the same. When you use a deposit address of the Exchange directly, there are risks:
- the exchange can renew a deposit address for tokens without previous notify
- they can stop deposits in any time
- they can stop withdrawals in any time
- and so on, you know - ānot your keys, not your cryptoā
We are talking about receiving payout via zkSync to your own wallet (not to the Binanceās wallet), then withdraw from zkSync to L1 deposit address of the Exchange.
So seems withdrawal to an L1 deposit address is working:
@hatred Maybe they applied changes only to a new deposit addresses?
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+1 This is often highly underestimated risk.
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Thanks for that guide. I tried to follow it and now Iām stuck at the ZigZak exchange. There seems to be no liqudity for STORJ/USDC, and if I see it correctly also for the last 24h. Is this normal?
So I guess I need to go to the āLimitā tab and put a sell order in and wait until someone takes it, right? I guess I need to leave the tab open in my browser and my wallet connected.
Sorry for the stupid questions, but Iām trying out zkSync for the first time this month. 
Can you share a link to a guide you followed? I searched Google and Youtube, but couldnāt find any useful ZigZag guide. Iām somewhat familiar with exchanges from matched betting, but I never used a crypto exchange before.
(Iām in a no way expert, just figuring this out myself) but it seems USDT conversions are available and can be used in the same scenario.
Another question ā do I really need to to round trip through MATIC: it seems bitrefill supports USDT ERC20 directly, in addition to matic?
I.e. can I do Storj to USDT on zigzag and then use that on bitrefill? ERC20 tokens are stabdard, but I feel Iām missing something (network? Are USDC/T on zksync in some way special? )
I endet up with swapping STORJ to USDT on ZigZag, transfering it to Polygon at orbiter.finance , then swapping USDT to USDC on Polygon and finally transfering it to Bitrefill.
I guess that would be on L1, so I guess you would need to transfer USDT from L1 to L2. But Iām no expert either.
I tried to use USDT at Polygon on Bitrefill, but somehow it didnāt work or took forever. So I swapped USDT to USDC on Polygon and then transferred to Bitrefill.
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not the same risk, as you make transfer you check that address is correct, then exchange and withdraw. People usually hold money on receive address for long time, so if exchange will be cracked you will lose money. Also if address change and transfer will be made to wrong address you will lose money.
Storj price is going up and down with BTC, if you hold till next bool cicle, it is possible to get even 3-5x. but it can be very long time. Me personally exchange it every month, as i get around 700-800$ a month, so I watch very tightly when I exchange it, small difference give me +50$ this month.
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The risk is not the same.
These problems have in fact occurred in the past on many chains and exchanges, which is why they are mentioned here.
This is basic crypto knowledge. Best practices 101.
I wonāt argue this point with you.
Everyone should make their own informed decisions.
We are here to provide information for people to make those decisions for themselves.
Everyone has different levels of risk tolerance and deserve to have all the information to decide what is best for their own circumstances.
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Nope. Not interested in splitting hairs, but thank you for the offer
Counter party risks in fiat exchange is a normal part of every day life all over the world for centuries. You can rate levels of risk as you see fit. Thatās part of everyone making their own decisions to fit their own comfort levels and risk tolerances.
The point remains, everyone here is entitled to all the information available to make their own decisions. Agreement is not required.
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It already more looks like 10 trees is the forest or not.
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There are some issues Iām not permitted to discuss due to my direct relationship with the company and US regulations.
That said, I can only present general risk factors and technical techniques in this thread, not make specific financial recommendations or risk assessments for individuals.
People are free to trust self custody more, or exchanges.
You must do what is right for you.
Otherās may choose different solutions.
The points are access, choice and control.
Self custody maintains more control over the utility tokens.
Exchange wallets offer less control over the utility tokens.
There is really nothing left to say on the topic.
People will make their own choices.
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Just to add that the next month I was able to transfer USDT to Bitrefill. Saves 1 step. Donāt know why it didnāt work before.
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Hello guys, can someone give me a feed on how it works?
Prior discussion:
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hello, same question.
i have 3 nodes with zsync selected. Iāve earn some storj.
donāt know how to convert in $ or ā¬.
i have Metamask wallet but iāve read so much topic ā¦ lost
Do withdrawal to L1 to exchange deposit address, then swap to stablecoin. Then sell stablecoin for cash. Some exchanges do the latter bit for free. I use coinbase.