Ethereum has reached an all-time high and everyone is probably very excited about the increasing price of ETH.
Or maybe only traders and miners, because Defi space and investing in projects on Ethereum are completely out of proportion
Let us see how Ethereum competes with the Bank today:
To send my beloved ETH I need to pay:
To claim farming rewards:
To trade on Uniswap or other DEX:
And Once you bought your new token and decide to swap it back for ETH, you can't just sell it!
No, no, no! You first need to approve for spending!
So, let us take all costs into an equation, shall we?
ETHERUM
Send = $12.35
Claim rewards = $61.28
Trade = $226.99
Approve for spending = $31.55
Trade Again = 226.99
You also get charged a fee if your transaction fails!
TOTAL: $559.16
REGULAR BANK
Send = Free (unless sending abroad)
Claim rewards, e.g wages = Free
Trade = Free
Approve for spending = sorry what is that?
Ethereum is definitely great idea to take the power form greedy banks!
Anyway, I am awaiting ETH 2.0 but until than - Ethereum sucks!
