So this is me asking the Publish0x community for a little help and guidance.
I've been using Publish0x for a couple of months and accrued some earnings - 8.6 BAT, 8.5 LRC, 0.15 ETH and now a little AMPL too. In total, at today's exchange rates, that comes to just over $12:
I know that's not a huge amount, but I've had fun at the same time, and (as a well-known supermarket chain here in the UK says) 'every little helps'.
Anyway, I think it's time for me to start withdrawing some of those earnings from Publish0x to make use of them elsewhere.
Risk and reward
I already have an account with 'centralized lending platform' Celsius, where I keep the BCH I've earned from Read.cash plus a little ZEC from faucets. I understand the concerns around storing assets with a third party ('not your keys...') but I've done my due diligence. Celsius pays some quite strong 'reward rates', for example 7.21% APY on ETH if you are happy to be paid in Celsius' own CEL token, and I am willing to take the risk involved in return for these 'rewards'.
A sensible first move, then, would be to withdraw my BAT from Publish0x to Celsius. Celsius supports BAT and currently offers a reward rate of 6.68% if paid in CEL. I know that's not much, but I also have lots of BAT elsewhere that I could potentially agglomerate in Celsius.
However when I go to add my Celsius BAT address in Publish0x, I am presented with a very stark warning:
Warning! We make payments using smart contracts. Please make sure that your wallet can accept tokens sent via smart contracts. Otherwise, the funds may be lost.
Do NOT use a wallet address from any exchange. Not all exchanges support all of the tokens we send, which may result in you losing your tokens.
Withdraw funds to an exchange address at your own risk.
Instead, we recommend a self hosted wallet that you own the keys to, and that can hold all of the ETH ERC-20 tokens.
Warnings with bold text, capitalized words AND exclamation marks (not to mention red text, which I have been unable to reproduce here in this article) make me sit up and take notice. In fact, this particular warning has so far deterred me from making a withdrawal from Publish0x at all.
That's despite the fact that I have, in the past, successfully made withdrawals from a crypto-related publishing platform to a centralized exchange (Cent to Uphold in that instance, but the same principle applies).
I understand the risk of withdrawing funds to an exchange that does not support the token in question, and in this case I have total confidence that Celsius does support BAT. Conversely Celsius does not yet support Loopring, so I wouldn't withdraw my LRC there.
Is this the only risk that Publish0x is trying to flag up? If so, the warning seems a little... extreme. Or am I missing something fundamental?
And my most pertinent question of all - has anyone reading this ever tried to withdraw tokens from Publish0x direct to Celsius? If so, was it successful?
I'd really appreciate your thoughts on this one, so thank you for reading and for sharing any comments you have.
