Trading 1UP tokens with Altilly...
I wanted to test how much fees I have to pay to cash out 558.1 1UP tokens (at moment of cashing out worth 1.53 USD).
I tried moving the tokens from my personal wallet to exchange. First attempt with 42475 gas failed because the transaction used more gas than I gave it... On second attempt I gave it 100000 gas, but it only used 36801 gas.
When withdrawing from Altilly, the exchange took 0.0015 ETH as withdrawal fee.
In the end, I received 0.007162 ETH, which is about 0.96 USD, so I paid total of 0.62 USD in fees, which is 40.5% of the original worth of the 1UP tokens.
In conclusion, I can say it's not worth withdrawing or trading 1UP tokens.
Originally posted on Uptrennd.
Yes, those fees are high, but I think that the more 1UP you withdraw the lower the percentage of fees will be. You should try a withdrawal with at least $5.00 worth of 1UP to see what the fees are.
I think with minimum of $20.00 worth of 1UP tokens the fees start to be at acceptable levels... I will do one more test after few months as it takes quite a long time to accumulate lots of 1UP tokens, especially if I use half of the tokens for leveling up and withdraw the remaining. More I level up, faster I can accumulate tokens.
Yes, I am aiming to get to level 22 before attempting a withdrawal, I am at 18 right now.
I'm still on level 8 ;)