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If you set to 60gwei your tx may have been processed in the last hour or few hours. That should be like $5-6 or so if you are paying the full fee.
I bridged from Polygon to Ethereum mainnet around 7-10 days ago, don’t remember the gas price but it was probably in the double digits. Don’t remember exactly but I think total price was around $40usd, maybe a bit less.
If you aren’t rushing to swap into fiat imo it kind of doesn’t matter but I’d either stay on polygon or set payout limit high and gas price low on mainnet. In the last few months gas has been 8 gwei and 2100 gwei, so one way or the other your tx will hit eventually.
Or if you care just find a pool that pays the gas.
I raised it to around 80, i gave up haha... still not bad if once a month or even every 12 days as in this case. Well id say if i do start cashing out to coinbase, that has to be instant and auto sell to keep it at 1099 and not gains, i think.. but it still will be instant even if i have to wait till the gas fee limit is hit, just delayed. Sounds like the bridge isnt that bad either, i mean, thats a single flat fee, not based on the amount you transfer right? I guess you have to have some polygon in there to convert or maybe it depends (i have a bit of polygon already). All this is good to know and thanks for all the info to everyone, getting up to par slowly on things. |
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Your exodus wallet address is just an address on the Ethereum network. By virtue of having that, you 'have' a Polygon wallet of that same address already. By setting up metamask to connect to that address, first by default on Ethereum mainnet, then by adding the Polygon RPC info you will be able to connect to the Polygon network side of that wallet. You can theoretically already have or be receiving Polygon wrapped Ether on that address, by connecting metamask to it you will simply be viewing the contents and then be able to sign and interact with it to swap, etc.
Ether on the Ethereum network and Ether on the Polygon network are separate tokens. In order to convert one to the other you need to do this really intentional process called bridging, which takes time, effort and money. As such, just by connecting to a previously only Ethereum network wallet with a Polygon enabled wallet won't suddenly convert all the tokens in there to Polygon network tokens. Fact is, I've owned Ether on the same wallet address but on Ethereum, Polygon, Avalanche, Fantom and BSC. All require bridging to get from one to the other.
If you keep the Ethermine payouts on mainnet, whether you connect with exodus or metamask, those tokens will stay on mainnet. If you start getting them on Polygon, you'll need to connect with the wallet that has the Polygon RPC set up on it to see or interact with those tokens. Baseline within metamask, you need to switch the network to see the tokens on the respective networks. Also any tokens beyond Ether, you most of the time need to add the token in metamask to 'see' the quantity of that token within the wallet.
Another option to see your tokens, whether within metamask or with frankly any crypto address pretty much. You can browse to zapper.fi and put in your public address there and it will show you your wallet balances and break it down with balances on Ethereum, Polygon, FTM, Avax, BSC, or whatever network you have tokens on. You can also browse to zapper.fi within the metamask browser function. Zapper can be used to interact with your wallet, but baseline you can just use it as a viewer. Any tool that can interact with the network will ask you to connect and sign first, so you can always decline.
Well it sounds like to go forward and connect the metamask after doing the steps, to get L2 wrapped in the future at least, is easy enough. Its the getting it back out to sell that sounds daunting at this point. I wonder what a typical fee to sell/get the tokens bridged might look like. Ill say the gas fees havent hit 40 yet, 3 weeks in, so I raised it to 60 for now, may have to go a tad higher, but if im not misunderstanding, even say a 60 fee isnt bad and doesnt seem to matter how much ether you are transferring (so say $7 for instance). If thats every 2 weeks, oh well i guess. However, 2 days after 60 still waiting, might need to go up a few notches if im sticking with that method. |
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Yep. People mostly coming from custodial/traditional finance the idea of a self custody wallet doesn't come intuitively. Your option 1, you also need to add the Polygon network to metamask as well. Search a few reputable sites for tips on this, it may also be in the Son of a Tech video that you linked. If you don't think you'll be converting your Ether to fiat money it will be cheapest just to park it on Polygon, the fees for Ethermine transferring there are next to nothing. Maybe one day Coinbase will also be able to receive Polygon native transfers as well and this would be super cheap, as transferring between Polygon addresses is fractions of a cent in fees. 2. Refer to https://www.gasnow.org/ , this gives the current gas prices on Ethereum network to move a transaction. If you watch for a little while it also gives you an idea of the trend in price. The first line under "Estimated Cost of Transactions" is the cost for transferring Ether from one wallet to another, so like what the full cost would be for Ethermine to transfer to you and by that I assume what it costs you if they pass the full cost on to you. If you scroll down further you can see historical gas prices charted and if you switch to filter by various time periods you can see what it has been in the past. By that you will see that even as recently as 8/22 a setting of around 26 gwei would have moved a mining payment. So if you set to 40 gwei and are patient it'll eventually move. That'll be around $3-5 max at current prices. Could be minutes, days or weeks for the gas price to come down to your set amount. on #1, still worried if i miss a step a current payout via ethermine will be toast. I guess i'd roll through the steps to setup my current exodus address in metamask + the polygon network thing, but i'd want to be sure that the current address and its coins dont get converted, only future payouts from ethermine.org (if i switch the setting in eithermine.org?).. So does NOT setting the ethermine.org to L2, mean any payouts that go through metamask will still be mainnet eth? (only if i link to metamask and set to l2?) Would future payouts say transfers from coinbase to exodus (via the address) after setting up metamask still be mainnet? Only if i set ethermine.org settings to L2 and connect to chrome metamask after configuring metamask for matic and restoring exodus to that wallet would anything get sent as L2 wrapped? How do you know just looking at a balance in exodus or in coinstats, if its L2 wrapped? So in the future i'd know if i want to cash out that portion i have to convert it back somehow / pay fees |
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I had seen info elsewhere where when you setup metamask for the first time the two choices are new wallet or restore using a passphrase, i guess you just enter the exodus passphrase and it converts it. Im still hesitant to go this route though.
There is no "conversion" being done, so I wouldn't hesitate in the slightest about doing this. To assure yourself, you can leave Exodus set up on one device, say you have it on mobile. Then put the metamask extension on your laptop. You use the 'restore using passphrase' when setting up metamask, and you will see you will simply have all your Ethereum mainnet stuff from your exodus wallet there on the metamask. No trick or conversions apply. Think of it like using either OpenOffice or Word to view/edit the same .doc file. Thanks for those replies.. alot to take in for a "medium" newbie.. and also i think confusing at first, they sure dont make things simple i guess. So it sounds like I have a few options: 1. convert my wallet (restore to) metamask, then change to the L2 setting in ethermine pool (or is this where you said caution), live with the wrapped ether unless one day i opt to sell, then ill pay some fees to bridge back (or would a place like crypto.com avoid those fees, something about a recent change there for L2, now i forget) 2. Just leave my gwei setting at 40, normally every 5 days for me 0.1, so far im on day 9ish without a payout (or raise this to say 67), pay the fee, as other pools without the fee "could" be less profitable anyway, if it ends up that same fee every 2 weeks, perhaps its less than doing it every week at a higher gwei My mid term plan was either to send all coin on all workers to coinbase pro or similar for autoselling or configure maybe half my workers to exodus, the others to coinbase (i think needs to be autosell to only be 1099) So either way there i guess im hit with the gas fee Side question is on ledger, i've yet to get things of any coin onto my ledger, i guess mining directly to a ledger address isnt a good idea or i think i read this. I'd also prob move most of my eth to it, if i tried the metamask (paranoid a bit) |
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I don't know if you can link Exodus Ethereum Wallet address to Metamask but I think Metamask has an address of itself first as seen in the video you posted.So it is a lot of work to change to Metamask just to save a few fees which are now down as are now less than 60 Gwei from more than 110 that they were.My final advice is stick to Ethermine main net and wait for your payout when the Gwei fee falls.I did the same I had to get a payout yesterday night but only received today morning when the fee were 53 Gwei,I have put a minimum of 57 Gwei as Gas fee.If you manage to make 0.10 Ethereum in just 5-7 days then 3.5 USD fee I think is fair and bearable.
I had seen info elsewhere where when you setup metamask for the first time the two choices are new wallet or restore using a passphrase, i guess you just enter the exodus passphrase and it converts it. Im still hesitant to go this route though. But yeah i guess waiting it out/raising the fee level would be simpler, but that can add up in time. The fee level varies second by second if I refresh the ethermine page, ie: 57, 78, 100 etc. My question is, if you set the threshold to say 0.2 and wait say 10 days instead, does this help lower the fee any? IE: just leave it at say 40? Which online calculator out there gives the correct usd level for say 57 gwei on 0.10, i cant seem to find one that matches up, most show a super low usd instead. Choice 3, i guess is trying one of those other pools (that i hadnt heard of though): huobi or viabtc , though i still need to adjust settings at least to get the current payout. |
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I thought thats what restoring the exodus wallet to metamask did, avoided the fees for er20 conversion by using metamask or am i not understanding that process i guess?
You can use directly Metamask wallet and that will avoid fees,Metamask if I remember correctly it is a wallet which runs as an add on in Firefox or Google Chrome or mobile app and you can connect it directly to Ethermine,this way you will get L2 Matic/Polygon from the main net and not from ERC 20 tokens,maybe in the future Exodus will accept main net Matic. Anyone know if this is the basic steps to convert to metamask the exodus eth wallet (i assume the original address still works, i dont need change that in the miner? just link to the metamask "version")? edit: this one https://www.youtube.com/watch?v=wNlTOjSR_GUIm afraid to just convert without first sending 99% of my eth to ledger I assume too, this method is really only good for converting the existing wallet from exodus to metamask, in that if i wanted to later do instant sells on mining, i'd need to settle for a coinbase exchange wallet and be forced to deal with the gas fees? |
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go to huobi exchange and mine ethereum on their pool.no fees and every 24 hours are automatic payout on your eth account on huobi exchange.I am here for 5 months .so far so excellent.
What the hell? Huobi exchange have a pow algorithm pool? 🤯 I thought we only have ViaBTC and binance exchange, how this is cool I will definitely check this out right now, thanks for sharing this vital information mate 👍 Is this a safe exchange, or i guess maybe it doesnt matter if payouts to a wallet are every 24 hours or similar, you wouldnt lose much either way |
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Exodus support L2 Polygon/Matic as an ERC 20 token,so you have to convert it later,and the fees to convert it are big now for ERC20 tokens including Polygon/Matic.The choice is yours,personally I am sticking with the main net fees and keeping a 40 Gwei maximum fee I am willing to pay so the payout will only pass when the fee is a minimum of 40 Gwei.Below a picture of Exodus supporting Matic.  I thought thats what restoring the exodus wallet to metamask did, avoided the fees for er20 conversion by using metamask or am i not understanding that process i guess? |
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In normal conditions it doesn't matter that much but now that the fees at this moment in the main net are 7.55 USD or 111 Gwei if I were you I would consider switching to Metamask and L2 Polygon/Matic,because for a small miner 7.55 USD is a lot of fees.However if you say you mine 0.10 Ethereum for 5 days then paying 7.55 USD shouldn't be that big of an headache for you.If you mine 0.01 Ethereum for 5 days than a fee of 7.55 USD is really not bearable so I recommend to change to L2 Polygon/Matic and save on fees.
Yeah thats true but basically $7 or $8 adds up per week, if doing the metamask still lets the eth end up whereever i want it (ie: exodus or coinbase exchange eventually) i guess i should just do it and get it done now. Assuming its safe and i wont somehow lose my exodus funds (thinking ill offload those to ledger first just to be safe?). This all assumes the $7 per time goes away with L2? Not sure if i have the steps right on going to metamask So yeah if that basically makes it like it was before these fees then im for that idea (or switching pools) |
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Im still fairly new to mining/crypto and such, so im trying to wrap my head around the options here.
Recently ethermine changed their payouts, i guess to include a gas fee on payouts (my threshold is 0.1 currently and 40 gwei)
I mine about 0.1 every 5 days.. so far im on day 7 and the last payout hasnt occurred because the threshold preset to 40 hasnt gone low enough.
I think thats roughly 0.0001 or maybe 0.00001 eth or more, unsure on the fee. As of now i'm sending it to exodus, though ultimately i need to employ a ledger i havent used yet and eventually i think ill send this straight to coinbase exchange for auto selling. (i dont think you can send partial on payout to do a split or i would)
From what i read, i could use "metamask" , something about restoring my phrase from exodus to metamask and then going to the dashboard on ethermine and connecting to the metamask wallet and setting it for L2? This would avoid gas fees. I dont quite understand this process, or if it really saves that much in doing so?
Are there alternative options given the above? Or maybe just switching to a different pool provider? Any opinions on using metamask, risky, safe, effective etc?
Thanks in advance
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I've read its not ideal to send directly to ledger and if exodus isnt the perfect solution, what does everyone else do wallet wise and then sell wise?
Edit: i guess i could maybe setup auto deposits from exodus to coinbase then auto sell at the same time, but any amount of waiting ends up with gains tax + income i believe, or
alternatively wait till i get past Hold on whatever amount of eth and then use coinbase address to auto sell from there forward (assuming say 2 years, so maybe in 1 year change it up). Any hold eth goes to ledger over time.
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Hope you don't mind me asking, are you saying with the Exodus wallet you are able to convert crypto to fiat using the wallet or its an initiative from the bank you are using to make the conversion of crypto to fiat?
I guess i was asking in terms of how I do it now, ie: whats the easiest/cheapest / most automated way to auto sell each month? Right now from what i understand to start doing this, i'd have to transfer so much eth from exodus to coinbase, pay the fee (or whatever service is cheapest), then send to the bank account associated. I dont think i can automate this process, or maybe i can, by setting up some sort of auto deposit from coinbase or a similar exchange that pulls from exodus. Ledger on the other hand, i havent cold storaged anything yet, pretty sure theres no way to auto withdraw unless its connected to the pc? |
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is there any reason why you use exodus when you explicitly sated that you have an offline ledger? is it for making online transactions/small transactions?
if that's the case, i also suggest you to change your wallet. use a live os with metamask or other noncustodial wallet or buy another ledger for your hot wallet.
Well i guess that was part of my question. If i used the offline ledger, how can i setup automatic monthly withdrawals to my bank account (havent got this far yet). Whats the advantage of live os with metamask, curious? In my case is the only recourse to do a wallet to wallet (manual) transfer of so many eth each month to an exchange then sell that amount and transfer to my bank (IE: coinbase)? How (usa) does this go as 1099 and not a cap gains tax though?(I thought i read 1099 income type). If there is a way to put the coin in a ledger address and somehow automatically pull from there once a month to sell i guess i would, though i'd think either way there will be transfer gas/fees involved? |
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Im still a relative newbie, about two months into mining etherium.
For now i've been mining it straight to an exodus wallet.
I guess doing this is less than ideal in terms of either being able to stake or auto selling a portion each month?
I read around on staking, but its still unclear to me if the eth i put into staking now gets locked (related to eth2 eventually somehow), or if it can be freed if needed.
Of course there is the whole security of doing staking vs sending this to say a ledger, but i guess either way to sell, i have to transfer a portion monthly to an exchange to cash out some of it (?)
I also read about regulation thats in progress or has happened, i thought i read that blockfi is not regulated yet either, so ideally it goes somewhere there is regulation in the long term.
At this point i guess either way im stuck with gas fees getting things from exodus to another location (or the offline ledger).
Thanks for any suggestions
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How do you do this and select the gpu if you have more than one?
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I am running a few 3080s and the bespoken 225 Watt is correct. But this is only while mining ETH.
Better you go for a 1500 Watt and up powersource.
In the case ETH mining comes to an end or another coin (with more power usage) with more income shows up,
you can just go on mining and dont crash your rig.
Dont forget that 3080s take over 40 watt out of the riser. This can cause trouble.
Thanks for the tips. Yeah i was using worst case wattage scenario, its how i arrived close to 1200 watts. Ill just do the dual psu with the adapter in between and make sure i'm not splitting a single component across two psus, but just evenly distribute things. I hadnt heard about the 40 watts in the riser with the 3080? Does this mean i should make sure things are a certain way? I already know the pcie cable should be split to the card and the riser (on the same line). For the rig itself, i think i'm going to switch to the 6 gpu veddha model ($150ish on ebay) https://www.amazon.com/gp/product/B091D2H3F7/ref=ox_sc_act_title_2?smid=A2BTFENBZ612M&psc=1Though i guess if i were willing to figure it out i could get wood and make my own, lumber in the usa is a bit expensive right now though. Side note, Eth mining coming to an end is a bit of a concern or the difficulty bomb in july they keep mentioning, but thats another story, i would have to hope that there will be other coins (not in the eth family i guess) that could have "potential future" profit if this comes to pass. |
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Im trying to narrow down choices on whether to go with dual psu's or buy one large one for my setup. Im also struggling to find a metal rig on amazon that will house both the full atx and two psus (if i do dual psus). Im going to use my 6700k/asus z170a main "server" machine/board as the mining machine (it runs plex/media/main files here), its on 24/7 so i figured it made sense. Initially ill just have a 3080 and 1080ti, but i plan on adding a 2nd 3080 in a few weeks. I've run the numbers on online calculators going with the full load scenario and adding 150, this seems to top out at 1175 watts (so the recommended is an 80% 1300 watt, typically $299 cost but now $476 single psu). I already have one msi 80 gold 850 watt psu, if its safe enough i guess i could just add the second psu and use one of the dual adapters to connect the second? https://www.amazon.com/gp/product/B08F9WGLP2/ref=ppx_yo_dt_b_asin_title_o00_s00?ie=UTF8&psc=1 I assume with that i dont need the motherboard "split" cable i see referenced which often in the reviews is mentioned it caught on fire. This is the rig i initially found on amazon, sounds as if it may fit two psus, but only if one is sideways and dangles: https://www.amazon.com/gp/product/B08XJGG2YX/ref=ppx_yo_dt_b_asin_title_o00_s01?ie=UTF8&psc=1This is the dual adapter: https://www.amazon.com/gp/product/B08F9WGLP2/ref=ppx_yo_dt_b_asin_title_o00_s00?ie=UTF8&psc=1Anyone have any comments on this setup and if it makes sense to go with a dual psu's here (and safe?), i guess safe if i make sure individual components are powered from the same psu (not split up)? Thanks in advance |
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Thanks for the replies.
Yeah i'm aware of the fees, though i'd like to mitigate them if possible.
Example yesterday, had to send over eth, i guess no avoiding the gas fees as they are now, but because i did it twice on a send to the TW eth wallet it cost me $33 each time in gas fees. The other way was buying eth in trust wallet direct via moonpay, saved a bit but took 4 hours.
But in general, coinstats and the eth and binance chain addresses i'm using, doesnt show the right values. this was really the heart of my question, how to make it so coinstats shows the actual values instead of zeros for much of it.. short story i dont think there is as of yet, a way, but i thought if i could migrate those tokens out of trust wallet (IE: gerowallet, spore, etc) and maybe just use exodus, then id be better off. Of course if i would ever want to add to those, it would be a pain to move them back.
I'm also about to get a ledger, but for things i'm constantly accessing i guess no point on moving them all offline (another story)
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I've used trust wallet for a few up and comers so far. But managing those outside of the app is a pain. I've managed to sort of import the trust wallet entries but they dont really work right in coinstats.
Is there a better way to move things out of trust wallet (ethereum based tokens and bnb ones too) without paying crazy network fees to move them (in particular Ethereum)
Or perhaps a better way to import them into coinstats with functionality ? (i imported the bnb address and the ether address to get the tokens for each).
Thanks in advance
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Yeah this article is useful as well: https://www.coindesk.com/crypto-tax-2021-guideI dont know where i read it as an income tax event on exchanging cryptos. That said, what do most do on exchanges, so in my example on binance, you have xlm, want SOL, are you converting to USDT first then taking that and buying the SOL, rather than converting to something in between? (I still dont see other xlm pairs on binance.us trading though, like btc, which is strange to me as i see it on other trading exchanges) |
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