Unusually this post is to a) raise an issue and b) request help.

This morning saw a surge in Ethereium prices and I thought I would take advantage before the inevitable downturn bites and shift my held Ethereum on Celsius Network over to DAI to not only take advantage of the higher price, but also to take advantage of the higher interest rate which would consolidate both into a nice tidy little profit.

So I was looking for a simple transfer button. However, the transfer option on Celsius provides an address for external transfers only – such as those I have used to move funds from both Coinbase and Publish0x to Celsius.

I googled around a bit and couldn’t find any simple solution.

So next I thought about maybe trying to withdraw from one Celsius Wallet to another – namely Ethereum to DAI.

I was able to add the address quite easily and pressed to withdraw and was quite shocked by what happened next. First it required an email confirmation (fine you would think) but a confirmation link appeared to be missing but what was most shocking what how much I would receive. I am going to have to use close to actual figures to illustrate:

Receiving only 14% of funds is clearly unacceptable and fortunately I was able to completely cancel the transaction so once again it leaves me unable to effectively leverage the Ethereum surge. Now don’t get me wrong I don’t mind paying reasonable gas fees, but 86% is more than excessive.

I guess it is possible I am doing something wrong or have missed something.

Any thoughts on the issue and possible solutions would be greatly appreciated.

By the way I more than triple checked the received DAI figure just in case it was offering 99.88 DAI which would have been too high but much closer to the mark.

Whatever you are doing and wherever you are have a great weekend and stay safe.