I have a bit of ETH on the Crypto.com app and I was just keeping it in their "Earn" program, but recently they reduced the earn rates and that made me want to look around for better APY. I don't have much ETH and I realised the withdrawal fees are pretty high (more than what I've earned lol). This is when I noticed the option to choose between different networks to withdraw with lower fees but I don't really understand the difference or the use-case.
Here are the network options I have to withdraw: ERC20 vs. Cronos vs. BSC vs. Polygon vs. Arbitrum vs. AVAXC
For example, what happens if I withdraw the ETH to my Binance account using the BSC network vs. ERC20? I noticed that Binance supports ERC20, BSC and Arbitrum for ETH so isn't it a no brainer to use the BSC network since it has lower fees? And if it's not just about the fees, then what else am I missing? Why would you ever withdraw from crypto.com to Binance using ERC20 when you have the option for BSC?
Ultimately, I'm looking to withdraw my ETH with the lowest fees and deposit it somewhere with higher APY. Please let me know If you have any recommendations on that as well. Thanks
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