I was testing the wallets functionality with a small amount of currency. Sent some to the wallet (had a scare with the transaction timing out, got that sorted though). Tried providing and shielding and all the stuff, works great. Now I want to try to turn it back to a fiat currency to make sure I have access to my funds. Looked at the FAQ’s and it says to turn it to USDC and then send to an external wallet. When I go to send the USDC, it says that there is an additional 71 USDC in fees to send 60 USDC to my other wallet. I’ve got to be doing something wrong. Either that or this wallet is a giant scam and I should have never even considered it.
Please help, I would like to trust this great project.
Ryan
[Solved] Am I doing something wrong?
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Hi @Ryan Welcome to the Incognito forums. In this case nothing is wrong. It costs that much to interact with ethereum smart contracts (I know ETH fees are insane). If you would like to unshield ETH/ERC-20 tokens your best bet is to unshield a cheaper cost currency, XMR and LTC are one of the cheapest tokens to unshield, and use one of the services out there that would swap your LTC/XMR back to USDC. For example Changenow.io.
Theres plenty of threads asking the same question, Incognito is not a scam, Ethereum unfortunately is very expensive when it comes to contract interactions.
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LTC worked like a dream, thank you so much!
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