I tried to cash out ETH from Publish0x to my BlockFi account
Withdrawal to BlockFi not accepted

I tried to cash out ETH from Publish0x to my BlockFi account


If you are close to accumulating about $1 worth of Ethereum on Publish0X, congratulations because you are almost ready to make your first ETH withdrawal from this platform. The devs have recommended that your Publish0x withdrawals be made to a wallet such as Atomic Wallet, and not to an exchange. This is to protect against losing your coins, because not all exchanges are able to store BAT and LRC.

It's been documented that Publish0x authors have successfully cashed out their BAT and DAI to their Coinbase accounts. Naturally, I wanted to see if I could cash out my ETH to a BlockFi account.

When I entered my BlockFi ETH wallet address as the destination for my withdrawal, however, I got an error message.

BlockFi destination wallet not accepted 

The message read that I provided an invalid address. I can only speculate that the devs won't allow us to withdraw to BlockFi due to high gas fees. Notably, BlockFi posted the following information regarding ETH deposits into your BlockFi BIA account.

 

BlockFi recommended ETH deposit gas limit

 

A minimum of 52,000 gas limit! I had no idea this was what BlockFi recommends.

I managed to get my ETH address from my Coinbase account added, so I plan to write about a workaround for getting my ETH into my BlockFi account from Coinbase without any gas fees.

 

Related reading: My first ETH withdrawal from Publish0x

Related reading: How I moved $1 of ETH from Coinbase to BlockFi with zero gas fees

 

Thanks for reading, and stay safe!

Follow me on Twitter: @kragle_t

 

Edited on August 18, 2020 to include follow-up related reading posts about the workaround.

Cover art by Publish0x, modified by the author for this post

 

Last edited on September 11, 2020


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Thanks for your support!


CryptoWordsmith
CryptoWordsmith

I write about blockchain projects, cryptocurrencies, and learning opportunities for individuals at different stages in their lives. Follow me on Twitter: @CryptoWordsmith


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