Do you recommend staking? - page 16.

tabas

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Quote from: bitsnbits on May 25, 2021, 08:03:07 AM

I was looking at staking my ethereum. The interest rate seems good and I found BlockFi.com which seems to be around 10% (not guaranteed rate though).

Thanks!

Ethereum to stake? you better not IMHO.

Quote from: bitsnbits on May 25, 2021, 08:03:07 AM

Is there a risk of losing coins and is staking recommended?

Yes, there's a risk but if the exchange will be hacked.

Quote from: bitsnbits on May 25, 2021, 08:03:07 AM

For Ethereum, which site pays the highest APR and is the most reliable/safest?

Thanks!

If you're going to stake, you'll leaving it there without holding your keys. Like in Binance staking Ethereum means locking it for a period of time, maybe 2 years. It depends on the exchange because of the BETH.

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Quote from: bitsnbits on May 25, 2021, 08:03:07 AM

I was looking at staking my ethereum. The interest rate seems good and I found BlockFi.com which seems to be around 10% (not guaranteed rate though). Is there a risk of losing coins and is staking recommended? For Ethereum, which site pays the highest APR and is the most reliable/safest?
Thanks!

It seems that this will be difficult for me to explain because I myself have never tried how staking works and is the safest, but if we examine in general, the safest is still in a popular exchange, because the exchange will always look after their users and their good name, so they are not susceptible to being deceived.

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Quote from: bitsnbits on May 25, 2021, 08:03:07 AM

Is there a risk of losing coins and is staking recommended?

Staking is recommended as long you do it in correct way, the probably way u losing coins is by sending your coins to wrong stake address.
Also, theres some cons about staking coins, its you somehow cant miss opportunity to sell the coin when its pump since your coins are locked for some period.

Darktongue

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Quote from: bitsnbits on May 25, 2021, 08:03:07 AM

I was looking at staking my ethereum. The interest rate seems good and I found BlockFi.com which seems to be around 10% (not guaranteed rate though). Is there a risk of losing coins and is staking recommended? For Ethereum, which site pays the highest APR and is the most reliable/safest?

Thanks!

Unfortunately, I won't tell you the main reason why I don't like staking features. But I can make an easy calculation for you. From my side, I will prefer staking only 0 percent. Because now the market is in maximum dip, your investment profit will be more than your APR profit. I'm totally against APR features. But you can do your research then your prediction. Hope I clear everything.

ecnalubma

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Staking is good if you’re into long term hold most particularly to established coins in the market. It also secures your investment and prevents you from not spending it during stressful times because of its terms (lockin period) or depending what terms of coins you are staking.

Yogee

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Quote from: bitsnbits on May 25, 2021, 08:03:07 AM

...Is there a risk of losing coins and is staking recommended?

There is always a risk when you surrender full control of your money to other platforms. Hacks of centralized platforms like Blockfi could happen anytime. They could refund you if that happens but for how long? Other staking platforms could be exploited too and that has happened already to many so called Yield Farming sites.

repear7

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Staking is better than holding. If you hold any stackable token/coin for long term. Then it’s better to stake that. Cz, You will get some staking reward from it and you still a holder of that asset.

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I tend to adopt more of a holder strategy so I do not stake.
If you are considering staking you need to do your research on it before making a decision, askband answer questions like;

• Would you prefer to stake on an exchange or the ETH platform?
• What's the lock period when your funds would be unavailable?
• Are there grey areas to be aware of, like taxes etc
• Do you think the value of the coin would have increased or reduced after the lock time?
• Would there be a supply shock?
And a couple more questions...

The decision and risk of an investment rests on you, so do your research and view advice as suggestions. Also, be wary of scams.

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Quote from: bitsnbits on May 25, 2021, 08:03:07 AM

I was looking at staking my ethereum. The interest rate seems good and I found BlockFi.com which seems to be around 10% (not guaranteed rate though). Is there a risk of losing coins and is staking recommended? For Ethereum, which site pays the highest APR and is the most reliable/safest?

Thanks!

Almost every big exchange has staking services for the big coins like Ethereum, polkadot, cosmos for example. You always need to remember that if you want to stake them there you need to send your coins there and with that there is always a risk involved. Exchanges can be hacked and this could potentially lead to a total loss of your coins. The old saying "not your private key, not your coins" is still valid. Like others already mentioned you can also stake on your own but you need at least 32 ETH to be able to run your own node, which is a big amount of money.

pealr12

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Only if you can be sure that the staking reward is good and you have a good number of the coins/tokens to stake to generate good reward, otherwise I won't recommend staking because at the end of the day, you will not be happy with what you will receive, more like it benefits the project more than the staker imo.

_IRMAN

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You can stake ETH at https://ethereum.org/en/eth2/staking/ and become a validator for ETH 2.0 but you need 32 ETH

bitsnbits

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I was looking at staking my ethereum. The interest rate seems good and I found BlockFi.com which seems to be around 10% (not guaranteed rate though). Is there a risk of losing coins and is staking recommended? For Ethereum, which site pays the highest APR and is the most reliable/safest?

Thanks!

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