What could someone do with a few ETH and nothing else in his Metamask account?
That's an actual question for anyone familiar with the Ethereum ecosystem and the inevitable fees and the bear market which will come at some point.
Even after I will eventually swap the HUNT tokens that I fortunately still have in my Metamask account to ETH or something else which might be more suitable, that would be my situation on the Ethereum mainnet Metamask account, which I avoided obstinately due to the high fees.
Actually I don't have anything but the HUNT tokens on Metamask, but I would move the leftover ETH that I still have from BlockFi to Metamask, if I would actually be able to put it to work passively.
The main con against this move derive from the small amount of ETH and the disproportionately high fees.
There will be a gas fee for moving the ETH from BlockFi to Metamask. Then a gas fee to swap HUNT tokens.
Then, depending on the platform, there are multiple other fees to be paid until the holdings turn into a productive passive income.
The incentive I see is to swap HUNT tokens, because otherwise I have no gas fees on Metamask.
There is also a matter of strategy, also coerced by the two limiting factors: low ETH amount + high fees.
- Minimize on the fees and prepare for bear market by parking these funds as stablecoins on a LP or a den-similar product. That would miss on the likely pumps the market will experience in the final stage of the bull market.
- Bet on the pumps and keep the funds in a LP with ETH. Then toward the end of this cycle do 1. That of course means more fees which all eat away from whatever APR I get.
There's another choice: move to Metamask enough ETH for the gas fees, swap HUNT to ETH and move back to BlockFi.
Something that I started to dislike quite seriously about BlockFi after using it for enough time is the 24h (or more if it's not a working day) wait on any withdrawal. Its advantage compared to other centralized loan platforms: it doesn't have its own token.
What do you think? Any option seems more appealing than others to you under these circumstances?
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