Token price swing after payout

[jammerdan]

@Alexey

Unfortunately, all exchanges decided to interpret it this way for EU residents.

I certainly cannot speak for all exchanges. Maybe some don’t. But certainly we see large ones who handle it that way. That’s their easy way out. Banks have the same obligations by the way. But as we all know, they collect the required information for every transaction, this is why the banking system works the way it does an there is no issue in receiving payments from 3rd parties.

But contrary to banks, even if you find an exchange that allows 3rd party deposits, you may learn that they don’t support STORJ which proves again how bad that arbitrary token is as it is not as widely accepted compared to the mainstream crypto currencies. Exchanges even actively delist STORJ which makes it worse for SNOs to exchange it to something useful.

And this becomes a real issue if you get paid in STORJ and cannot exchange it. But Storj remains stubborn.

@Alexey

Therefore, I suggest you don’t take the risk and don’t directly specify the exchange deposit as your wallet if you are an EU resident.

That leaves the question how to get the STORJ token from the personal wallet to the exchange without paying ridiculous fees again in an additional ridiciulous and volatile cryptocurrency the user must hold.
Also we learned that new fees ar imposed on the so-called “solutions”: High transaction fees on zkSync Era bridge
The entire system is a joke where SNOs are plagued with volatile tokens and cryptocurrencies, exchanges they can’t use and ridiculous fees on every step.
If Storj would not have been focused in using solely their own token for payment, they would have been able to develop a real independent global mass payment solution and could have created additional revenue streams. Other companies and startups ar doing that right now. This is a startup featured recently in a local newspaper founded by youngsters: CashXChain | CashXChain

@Alexey

We’ve already received tickets with requests and pleas to convince exchanges to release their funds. But we can’t help with this.

Yes this is very bad an unfortunate for these SNOs. It shows again how bad the system is. But still exchanges should not be able to simply keep the money they should (and I believe they are obliged) to return it to the sender address and if that happens, Storj should be able to help and re-send it to to the SNO to another address. But I don’t know if Storj does that.