Topic: Always do Some Research Before You Start Staking (Read 332 times)
Yes, it's something that must be done. How could anyone risk their money when they don't know what potential the coin has? I don't think there is anyone like that. Doing research also doesn't always focus on the benefits, but must also look at the worst possibilities as well. Sometimes there are still people who see the good, but not the worst.
analysis is mandatory, we don't play with monopoly money here. If you don't analyze the risk of losing valuation, it's bound to happen.
when starting staking You must also consider the safe duration and favorable market conditions when you receive your funds back.
I recommend staking over the usual investment in a personal wallet.
when starting staking You must also consider the safe duration and favorable market conditions when you receive your funds back.
I recommend staking over the usual investment in a personal wallet.
Timing and understanding should be working alongside when you are dealing with this type of investment,
Staking usually brings passive profits if you know how to deal with your research. There are projects that really pay well and have progressive
Performances, those assets will allow you to receive a good amount of compensations. But likewise, it's always a good advantage if you know
how to pick which coin to stake.
It sounds like you are working for Cosmos and trying to promote that. Is this the case? Regarding staking, I really think it's risky because you are holding a certain amount of fund for long time and within that time frame, it is possible that the project will also tank. Now, don't say take a good project. That's not easy to find out.
Should also remember that staking requires good capital, with low capital you should be expecting low passive income, because it works just like any other investment where the more capitals you invested, the more earnings and rewards you will get.
Beginners should start with stable coins staking because it's stable and later could try out different form of staking provided by famous exchanges/platform so it will minimize chance of getting scammed although some case staking native coins aren’t that appealing because they could give punishment and as a result the investment is in loss, I think it's better staking with popular coins and then gets rewarded accordingly like in binance where anyone could freely stake their BNB / any major coins and then gets the rewards based by the projects that are choosen.
Beginners should start with stable coins staking because it's stable and later could try out different form of staking provided by famous exchanges/platform so it will minimize chance of getting scammed although some case staking native coins aren’t that appealing because they could give punishment and as a result the investment is in loss, I think it's better staking with popular coins and then gets rewarded accordingly like in binance where anyone could freely stake their BNB / any major coins and then gets the rewards based by the projects that are choosen.
All things related to money are certainly worthy of deep consideration and analysis, because most investors only hear success stories without ever wanting to know and do their own analysis, and staking is a good new method but we must always do analysis.
Most investors, including new investors, are tempted to follow the successful investors step so they start to buy the same thing with the previous investors without research furthermore.It is happening in NFT because many new people do not know about the project using the same method and expect to make a big profit from the project.
Staking is one of many ways they can use to make a profit but that will depend on what coins they will stake and how good the project is.
So we need to be careful to search the coins if we really want to stake them because not many projects can give us a good return in the future.
All things related to money are certainly worthy of deep consideration and analysis, because most investors only hear success stories without ever wanting to know and do their own analysis, and staking is a good new method but we must always do analysis.
A lot of people don’t tend to stake their tokens, but you should keep in mind that staking is a great way to help out your community. Staking tokens on proof of stake networks makes you a delegator, and as a delegator you can directly help make your network safer.
For me, staking is one of the interesting ways to hold our coins and also get some rewards at once. This really can help me to get more rewards better rather than only letting my small coins there in my wallets, seeing the value drop every day because of crashes or market correction.There are a lot of staking platforms and validators out there, and as a delegator your stake helps decide which validators are validating the blocks on your network.
Yes, we can find out so many platforms or services that provide staking with various APY or rewards. It may start from small APY or rewards until high enough.But, it will be better and safer if we become more selective in choosing the right platform to stake our coins. Because it is not only about trust but also about the security of our assets themselves. We don't want that our assets lost forever, right? That is why, before staking, we must analyze the platform whether they are reputable and trusted or not, moreover about the security systems.
As you have said, not just in staking but in all others that involved crypto, there will always be scammers and shady characters behind because they know they can hide within the confines in the space of "pseudo-anonymity" argument.
Initially there are a lot of staking exchanges that is reputable but lately, some shady exchanges popping up like mushrooms and take advantage of the whole staking game and netting a lot of noobs and pulling a rug pull.
Unfortunately this is the true reason for most of the scams. However, we have seen people who go online, who talk in conferences, who not only doxxes themselves but literally builds a whole brand out of themselves and then end up with a fake scam project. Bitconnect guy is the most known version of this, we all know him, he wasn't the owner I think but we have seen projects be that much famous and then scam people out of their minds. So, it is not even just about being doxed or just being anonymous, it is about people just realizing the laws regarding crypto stealing is not as hardcore as regular stealing.Initially there are a lot of staking exchanges that is reputable but lately, some shady exchanges popping up like mushrooms and take advantage of the whole staking game and netting a lot of noobs and pulling a rug pull.
In fact, I believe even regular stealing is not as bad as it used to be, since there are so many people doing so many bad things, even thieves do not get as much "time" in jail as they used to. So those type of things results with easy crypto scams popping up everywhere.
I Agree with that advice and it must be done first before anyone gets involved in investing or staking process First, just make a thorough research about the project that was offering the said services so that the risk can be minimized because crypto platforms are built only with trust and most of the time that so-called trust was betrayed mostly by the project team itself because of money. so that was good advice.
We can choose maybe 4-5 exchange platforms where we can entrust our assets for staking. That's the problem here when you want to stake your crypto asset to an unpopular exchange platform, you don't know when someday those platforms will suddenly shut down because you're staking on a lock-up period which you can't unstake within that period. Another risk could be a failure of a project that you have chosen to stake, so don't expect too much, invest only of what you can afford to lose because we never know what will happen in the future if you're only relying on staking.
For me, staking is a long-term savings and requires quite detailed research so as not to lose, it's true as you said, risk is unavoidable, there must always be risk in every action in investing, so here we research the risks that will be faced if we staking
Everybody keeps talking about staking is risk and that we should do our own research without pointing out the trusted sites to stake apart from the one op pointed out. We need solutions and not mere posts and comment. Please can you provide any trusted link for staking.
Go to this site and you will find some top coins that are eligible for staking. This helped me pick a coin that I would want to stake with.
https://www.stakingrewards.com/cryptoassets/
https://www.stakingrewards.com/cryptoassets/
Thanks for this. Am checking them out.
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A lot of people don’t tend to stake their tokens, but you should keep in mind that staking is a great way to help out your community. Staking tokens on proof of stake networks makes you a delegator, and as a delegator you can directly help make your network safer.
There are a lot of staking platforms and validators out there, and as a delegator your stake helps decide which validators are validating the blocks on your network. Before you start staking though, make sure you get information on which staking platforms are available for your network. Once you have all the information on the staking platforms participating on your network make sure to pick the best ones, for example: I found Cosmostation and pStake are probably the best staking platforms for Cosmos.
There are a lot of great staking platforms out there, but there are also many shady ones as well. Really, just like with anything else in this space make sure to do your research before you start staking.
I totally agree with you @op, I might not know much about cosmos but I do know about Tron, I do alot of staking on Tron network and I can say that alot of the staking platforms I've participated in are very useless, though I've never lost a dime to any, but some don't pay the reward or the amount of reward they promise.There are a lot of staking platforms and validators out there, and as a delegator your stake helps decide which validators are validating the blocks on your network. Before you start staking though, make sure you get information on which staking platforms are available for your network. Once you have all the information on the staking platforms participating on your network make sure to pick the best ones, for example: I found Cosmostation and pStake are probably the best staking platforms for Cosmos.
There are a lot of great staking platforms out there, but there are also many shady ones as well. Really, just like with anything else in this space make sure to do your research before you start staking.
So when you said research before you stake, I totally understood cus I have the experience...
Anyways, it's a good advice for those who care to listen, one thing certain in life is that we can never stop learning no matter the field we are in or how perfect we think we've become.
Go to this site and you will find some top coins that are eligible for staking. This helped me pick a coin that I would want to stake with.
https://www.stakingrewards.com/cryptoassets/
Right now I'm currently staking ADA and its just good to see that you are earning dividends by staking it in their own wallet and at the same time earning from capital appreciation. Of course not all coins are like this because I'm also holding a bit of CAKE tokens and unfortunately I bought it at a high price and now even though I'm staking it thru their pool feature, I'm still at a loss with its current price but still it is an unrealized until I sell it into another coin.
Anyway, doing some research will really help you but choosing the top coins will make it easier for you but it doesn't mean still that it will be profitable. Staking is for mid to long term holding so if you want to stake then at least pick the coins that will survive in the next 3-5 years.
https://www.stakingrewards.com/cryptoassets/
Right now I'm currently staking ADA and its just good to see that you are earning dividends by staking it in their own wallet and at the same time earning from capital appreciation. Of course not all coins are like this because I'm also holding a bit of CAKE tokens and unfortunately I bought it at a high price and now even though I'm staking it thru their pool feature, I'm still at a loss with its current price but still it is an unrealized until I sell it into another coin.
Anyway, doing some research will really help you but choosing the top coins will make it easier for you but it doesn't mean still that it will be profitable. Staking is for mid to long term holding so if you want to stake then at least pick the coins that will survive in the next 3-5 years.
I Agree with that advice and it must be done first before anyone gets involved in investing or staking process First, just make a thorough research about the project that was offering the said services so that the risk can be minimized because crypto platforms are built only with trust and most of the time that so-called trust was betrayed mostly by the project team itself because of money. so that was good advice.
Staking is like long term investment so research is important. If you invest, you will be able to sell your coins anytime. If you invest and use coins for staking, your coins will be locked so it is a second risk.
There is alternative for staking, that is bond. With bond, you will be able to claim your reward according to bond vesting terms.
They have common risk, risk of inflation and risk of price fall when you are staking or vesting.
There is alternative for staking, that is bond. With bond, you will be able to claim your reward according to bond vesting terms.
They have common risk, risk of inflation and risk of price fall when you are staking or vesting.
Staking coins is really a good way to generate passive income in my opinion. It also depends on which coins you are staking.
For some coins there is a low lock-in period and we can unstake the amount in just a few days which provides us the flexibility to sell coins whenever we want.
When fiat is involved bonds are probably better than opening a fixed deposit. But then again not all bonds are safe.
The ones which are relatively safer has lower returns but still better than FD. Overall I still think staking is the best option here.
As you have said, not just in staking but in all others that involved crypto, there will always be scammers and shady characters behind because they know they can hide within the confines in the space of "pseudo-anonymity" argument.
Initially there are a lot of staking exchanges that is reputable but lately, some shady exchanges popping up like mushrooms and take advantage of the whole staking game and netting a lot of noobs and pulling a rug pull.
Initially there are a lot of staking exchanges that is reputable but lately, some shady exchanges popping up like mushrooms and take advantage of the whole staking game and netting a lot of noobs and pulling a rug pull.
It's true that there are others that are shady because they're not yet known and you have to be careful in which platform you're staking your coins on. Staking is a good passive income as much as you have a big amount to stake so that you'll be getting a quite sum of money for the profit.
But if you don't have that much, it's also nice because by doing nothing you'll get more coins as a reward of staking and that adds to the current staked coins you have.
But if you don't have that much, it's also nice because by doing nothing you'll get more coins as a reward of staking and that adds to the current staked coins you have.
Research for something you want to do is a must before you start so you know what the project is, how good the project can give you a return in the future. But you need to be ready to wait for your investment run because to use the staking program needs long before you can earn many rewards.
As long as the coin is good and has potentially increased in the future, your waiting time will be worth it and will give you profit, especially if your staking process is finished at the right time so you can sell it when the price increase higher.
As long as the coin is good and has potentially increased in the future, your waiting time will be worth it and will give you profit, especially if your staking process is finished at the right time so you can sell it when the price increase higher.
Yes, my friend agrees, with the coin stake we can take a lot of profits and other than it can also be to support the project of the coins we either conquer, but keep before you plunge to make sure that the exists.
have a good day
have a good day
There are a lot of great staking platforms out there, but there are also many shady ones as well. Really, just like with anything else in this space make sure to do your research before you start staking.
There are some pump and dump tokens who offered to stake out there but when they gathered enough money, they stop developing or updating their project. It's too late for their investors to know their true intentions since in the beginning, they were active in chats and emails. That's why if you wanted to invest in such coins, you need to do a proper investigation of their teams and don't rush to any investment with just hearing their promising words because, in this industry, almost everyone has sugar-coated their words so that you would in them.
Staking is a commitment, and the APY is good compared to other long-term investment options.
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