I’m currently struggling to pull out loaned funds from the COMP protocol due to high gas fee (currently around 0.18-0.20 ETH) to make the transaction to my Coinbase wallet. I know fees have been high lately, but now I feel like my funds are effectively being held hostage, and to make the transaction I risk losing all the interest accumulated thus far (and then some). I’ve checked fees at all odd times of the day and couldn’t get an estimate much under 0.15 ETH. What are my options? Wait for ETH 2 (over a year out), keep checking for low miner fees, or is there another solution? Do these miner fees seem reasonable, because they don’t jive with what I read on the https://ethgasstation.info/ website about current live transaction costs for “Gwei”- currently about $17/transfer??? We are talking about a conversion of less than $20k, and lesser amounts to convert still command the same gas fees. WTF! Appreciating the community support in advance. Thanks!!
The amount of gas used is fixed, so it’s going to be the same for pulling out 10 dollars or 10 million.
If you care about the price, the best thing to do is keep trying, and wait for better prices. Gas prices are indeed crazy high the last few days.
I am also wondering what the most efficient way of converting cUSDC, cDAI, etc. back to USDC, DAI, etc. or even directly swapping it into other coins is. Yes, certainly gas fees are central, but:
Does the “app.compound.finance” function for withrdrawal offer this services at just the gas fees or how much is put here on top for the user to have the withdrawal service available conviently at the UI level? Is this communicated transparantly somewhere? Is the UI the only way for safe withdrawal/conversion?
I have read before in this forum that one should be careful directly swapping cUSD, cDAI, etc. into other coins via e.g. Uniswap or Coinbase Wallet functionalities. Does anybody have more details on this please? What to watch out for? What would be the economically best and secure way to convert cUSD, etc. into any other desired coin?
Would be great, if some folks could share their experiences and wisdom! Thanks.