Best way to stake TAUD on Celsius??

moneytomyway on 11/04/2022 - 20:51

Hi, been staking TAUD on Crypto.com until realising they have greatly reduced the APY.

After searching for a bit, the best current APY for staking TAUD will be Celsius where they still offer 7.1% APY, but I am a bit struggled to find the best method to transfer TAUD to them.

Is minting on TrustToken the only way?? As I am sending money offshore to HK, I am sure I will be charged for a fee both way which seems basically take away the point of staking them for interest. Can I purchase them on Crypto.com and send them to Celsius??

Thanks!!!

Financial Cryptocurrency

Comments

  • axlfan on 11/04/2022 - 21:06

    Check this out. It may help you.

    https://www.reddit.com/r/TrustToken/comments/qu718q/taud_min…

    • moneytomyway on 12/04/2022 - 09:06

      Thank you!!
      Definitely helped!!!!!

      One last question, can you sell your TAUD to AUD on Celsius? I couldn't seem to find it on its app.

      • axlfan on 12/04/2022 - 10:43

        Honestly I am not sure. I dont do a lot of TAUD staking but my 2 cents is that I would do it in CDC instead of celsius as its easy to move fiat AUD in and out. Personally, the small difference is % takes lower precedence to convenience.

      • h4lcyon on 12/04/2022 - 12:34

        Pretty sure Celsius have disabled exchanges except buying, so they don't have the hassle of transaction reporting.

        Send it to CDC and cash out 1:1 with AUD.

        • moneytomyway on 12/04/2022 - 12:59

          CDC = Crypto.com??

          If thats the case, isn't the easier route is to buy TAUD then transfer to Celsius?

          • h4lcyon on 12/04/2022 - 13:07

            @moneytomyway: Yep CDC = crypto.com not the center for disease control :D

            And yes buying via CDC is generally the most cost effective if you are in AU, no fees for deposit and 1:1 exchange rate.

            • moneytomyway on 12/04/2022 - 17:18

              @h4lcyon: Great to know I can transfer my TAUD on CDC to Celsius, and move them back to CDC when I need AUD.
              No point using Trustokens then.

  • danield on 26/04/2022 - 12:12

    Just discovered the rate cuts today as my 3 month deposit is releasing soon. Think start moving it over to Anchor 'UST' for 19%. I want to set and forget for long term and finding that Cex like Blockfi Celsius and CDC keep changing there limits and adding tiers meaning that Im constantly needing to evaluate and move things around to keep on top of it.

    • moneytomyway on 26/04/2022 - 17:45

      I have some in Anchor already but not going to put in more to diversify the risk.
      I recently opened up Citi global account so I can transfer to TrustToken with no fee but I reckon Celsius will drop their APY in no time.

      • danield on 26/04/2022 - 21:07

        So why TrustToken, I can see around 10% on some of the liquidity pools for BUSD and USDT, did you open the Citi global account specifically to use TrustToken?

        Looking to spread the load an diversify as much as I can too.

        • moneytomyway on 26/04/2022 - 21:38

          Ya I opened the Citi account specifically to use TrustToken to avoid any bank fees.

          As far as I know, CDC doesn't allow TAUD withdraw at the moment so minting via TrustToken seems like the only way if I am after TAUD. Please correct me if I am wrong, I'd love to know an easier route to get TAUD to Celsius.

    • danield on 27/04/2022 - 19:28

      For anyone jumping out of CDC, I wouldn't bother sticking with TAUD, it was good for CDC but its way to limited to where it can go, getting into USD sable coins will open up many more opportunities making it easier to diversify into both high risk and low risk yields.

      I'm now looking to get my funds off CDC and being TAUD looks like the only way to sell it to USDT or USDC.. bugger as I want UST (Anchor) and BUSD (Donkey Finance).

      • klownz on 18/05/2022 - 18:39

        Hope you didn't succeed in getting your funds into UST

        • zooter on 19/05/2022 - 12:34

          I narrowly escaped (I did get some funds into UST, but it is what it is…)…

          wondering if it's worth splitting the rest of TAUD between Finder and Swyftx. Experience in both is good (moving in and out), but Swyftx gives more % compared to Finder…unclear if it's worth splitting to get a slightly lower return but spread risk between exchanges…

          • rektrading on 19/05/2022 - 13:27

            @zooter:

            wondering if it's worth splitting the rest of TAUD between Finder and Swyftx.

            Do the same thing as if you had $500,000 in a bank. Split into two banks.

            • moneytomyway on 10/06/2022 - 20:11

              @rektrading: After what happened with UST which I was hugely impacted, I will never touch any stablecoins….

              • rektrading on 10/06/2022 - 20:17

                @moneytomyway: Users who don't use stablecoins will never be able to use trade asset/stablecoin on DEX.

                They will always be subject to custodial risk.

    • moneytomyway on 13/06/2022 - 20:23

      I hope nothing but the best for people having money stuck with Celsius.

  • rektrading on 13/06/2022 - 21:27

    https://www.youtube.com/watch?v=NPCP_iTSm-w
    FEAR: Celsius HALTS Withdraws….
    Celsius Network has halted withdrawals, trading, and fund transfers - leading to enormous amounts of fear in the cryptocurrency markets. Did Celsius lose money and will they be able to stop this "bank run"

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