Got my first Payment on the zkSync Chain and already activated it with sending myself all my storj coins. But which exchange should I use to convert it to EUR, without leaving zkSync. With OKX i would pay 16% in fees despite the amount. Shouldnt there be a better way?
Hi @jrots ,
Welcome to the Forum!
While the Community team is not permitted to recommend a specific exchange, I can suggest that especially during these current events in the industry it is best to use a properly registered, licensed exchange with a solid history of reliability.
This thread was current as of January 2022
I’m hoping some community members will list some they currently find reliable.
I started with zkSync too, but when I tryed to send Storj to an exchange, I lost fees for L2 to L1 transfer, than fees to buy ETH, than fees to send Storj to exchange, than fees to send the rest of ETH to exchange, than fees to sell ETH and Storj for FIAT. And lost some ETH change in Metamask. All took half a day. So I’m done with zkSync. If you plan to hold onto tokens for long, keeping them away from an exchange is a good thing, and you get +10% on zkSync. If you plan to sell them regurarely, then mining directly to an exchange that offers Storj/Fiat is better probably. You cand install Coinstats mobile app or Gecko or something, that shows you all the markets for the vast majority of exchanges, and check them. One of the biggest is Kraken. Kraken dosen’t support zkSync.
I don’t think fees are going to be lower on any exchange that supports L2 Storj depozit and Fiat exchange, because they need to move the token to L1 too. So they must include those fees in the exchange fee.
You can send from zkSync to any L1 Ethereum address and pay fees in STORJ tokens, not ETH.
So, seems you sent to L2 address then used an alternative withdrawal (which requires to pay fee in ETH) - this is a more expensive way to withdraw from zkSync.
I used Metamask, moved Storj from L2 zkSync to Storj L1 address inside Metamask, than sent Storj to Kraken from L1 Metamask address.
So you say that I can withdraw Storj from L2 zkSync Metamask wallet directly to an exchange that only supports L1 deposits, like Kraken?
But you can use not own L1 address too.
Exactly. And pay fee in STORJ, so no need to buy ETH.
I am using Binance. Send storj from zksync to L1 binance address (~2,5$ fee) and on Binance I convert Storj to eur with no fee. Sepa withdraw to my bank account then costs 1 Eur.
I use binance card, and pay directly with USDT. getting cashback also.