I’ve gotten this query sufficient occasions, so I’ll simply make a fast weblog publish about it.
I get requested so much which blockchain most of my tokens are on.
This query comes much more usually when the market is shifting so much, and gasoline charges on Ethereum are excessive.
The reply continues to be Ethereum nonetheless. And I’ll record my cause’s why.
First off, my invested tokens/cash which aren’t sitting on the Ethereum blockchain for apparent causes:
BTC
LTC
AVAX
ADA
CAKE
I feel that’s it.
The remainder are on Ethereum, and for this reason:
1 – I don’t commerce crypto
I’m engaged on crypto algos within the background, however I haven’t been capable of dedicate as a lot time to it as I would love for now. Both approach, I’m solely an investor at this level and….
2 – I don’t make a variety of transactions
Once I make a transfer, you just about find out about it by way of Twitter or the podcast. It’s not frequent, so I’m not dropping a ton of cash transacting on Ethereum in comparison with different chains all advised.
I do make strikes weekly on Cardano due to the video games I play there, and staking and such, however that’s totally different. These contain NFTs primarily, and I’m paying a wee dime or much less in USD for each transaction.
3 – I already receives a commission on the Ethereum blockchain
ByBit pays me in USDT on Ethereum, so if I actually needed to make any strikes, there’s cash sitting already proper there which makes issues so much simpler. Between that and utilizing my take-profits to purchase extra crypto, I haven’t used Coinbase in a while.
4 – Security
The Ethereum blockchain itself has by no means been hacked.
There was a sensible contract hack again in 2016. Aspect chains have been hacked. Exchanges too. However no profitable hacks on Ethereum, and say what you need concerning the tech, that’s a ringing endorsement.
5 – Liquidity
I nonetheless bear in mind USDC on the Binance Good Chain dropping to $.87 as a result of there simply wasn’t a variety of it there on the time. There’s security in liquidity, and for the foreseeable future, Ethereum goes to be the winner right here.
6 – Charges often aren’t THAT a lot
I make my transactions when gwei is low, often at sub-10 gwei.
I’m usually awake at midnight within the Western Hemisphere too, which helps.
This implies I not often pay greater than $7 or so to transact when you add in pockets charges and such. A financial institution wire is $25-40 comparatively. Coinbase would cost near that for some purchases.
So yeah, I’m not “getting away with homicide” from a charges perspective, however….
Conclusion
No have to be a piker and demand solely pennies for my transactions once I don’t make many within the first place, and what I’m basically “paying for” is the protection and liquidity of the chain itself.
Generally, as a grown-up it’s essential to make these trade-offs.
That is your cash we’re speaking about right here, in any case.
As soon as Ethereum lastly will get these charges discovered, this can hopefully not be a problem. However this might be awhile.
Within the meantime, I’m very glad with my alternative.
It’s okay to pay extra typically.
— VP
