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Topic: Does staking even make any sense (Read 8481 times)

legendary
Activity: 1190
Merit: 1004
September 13, 2022, 09:53:18 AM
add your money in staking it will definitely be higher. do you not understand staking? Yes, I know that each platform has a different presentation but Binance has higher trust and security. It's only natural that the percentage is smaller than other platforms because it is more secure.
Yes I think you are right es taking can get a lot of money together and stalking has many advantages that we usually get but before sucking it is better to think and check so I think before staking we  I will know them well
sr. member
Activity: 1918
Merit: 256
Just.bet - Decentralized On-chain Casino
September 07, 2022, 09:13:43 AM
I believe why the interest we get is small is because we stake on stable coins that really maintain their price and quality. it is impossible with a little staking capital to earn more like farming on a DeFi platform. you better increase your capital, because it's fair. you get stable coins with small interest it is like no risk.
brand new
Activity: 0
Merit: 0
November 03, 2022, 02:49:02 AM
In my opinion, staking is good, staking is rewarding. Especially in a bear market; staking helps you to increase your holding / your bag of a particular token in a simple way or effort. You need to understand that you cannot stake all kinds of tokens, because some tokens are shrot terms; while some are long terms. You should always stake long term projects. By using @CheckMyTokenBot on telegram, you can learn basic important information about a token.
full member
Activity: 1512
Merit: 115
November 03, 2022, 02:43:21 AM
Try with 10,000$ and see the difference, stakes are for rich people but also we have defi staking that takes 30,60,90 days just to get 3-15% returns I think this are better than yearly staking.
I agree. Staking pays more depending on the amount you are staking plus I believe those that might even want to stake even when their holding is small might see it as still getting something from it while they are hodl for that amount of time instead of just keeping them in wallets without earning though we might want to look at the risk implication if anything happens to the exchange, but with an exchange like Binance, it could be worth the try.
hero member
Activity: 1834
Merit: 879
Rollbit.com ⚔️Crypto Futures
November 03, 2022, 03:07:14 AM
Yes it does, think of staking as gaining extra from what you have and leaves you better than you were when you started. For example if you keep a $100 bill in your safe don't expect to find anything extra in it, but if you kept it in a fixed deposit account with a bank you gain an interest on it... which is the same concept staking is based on, only that it's mearnt for crypto.
legendary
Activity: 3220
Merit: 1363
www.Crypto.Games: Multiple coins, multiple games
September 28, 2022, 08:10:22 PM
It is important to lean and understand the platform first before you engage and start investing your money, both services have their own risk and advantages, with knowledge upon, you can pick which one is best suited for your money, investing wisely with a potential passive profits can be executed when you already know what and how to sort and pick the best venue for investment.

Keep in mind that the actual concept of investment is to ear and to continue to grow with your financial capabilities.

Not all investors and traders are doing their research they are just following other successful investors, then failed.

Most investors only pour money into PoS coins hoping they'll become rich in an instant. But that's not the way it works. Most PoS coins with high stake rates, become worthless over time due to high selling pressure. In other words, the higher the rewards, the higher the inflation rate will be. Coins with lower stake rates are proven to retain their value over time. But there's always the risk of loss because of the volatile nature of the crypto market.

You should only stake if you have money you can afford to lose. Otherwise, you'll risk yourself of losing everything in an instant. I think you're better off cashing out your crypto to Fiat or a stablecoin of your choice just to be safe. Just my thoughts Grin
full member
Activity: 910
Merit: 102
September 13, 2022, 03:30:30 PM
How do people even enjoy staking their coins and tokens? I'm confused, yesterday I tried to stake some amount of stable coin aka USDT on Binance Exchange and it is worth 1000$ but the return on this in a year is 95$ lol, I laughed so hard that I almost flipped my laptop, why the heck people doing this?.

In bearish market we have right now, staking is the best to earn while holding up your tokens or coins in exchange of little effort or even doing nothing at all. If you don't have plans to sell these times, then you might wanna stake your tokens/coins to earn more from it. It all depends the APR you wanna stake into and also depends on what coins or tokens.
legendary
Activity: 2996
Merit: 1054
Leading Crypto Sports Betting & Casino Platform
September 13, 2022, 01:53:57 AM
It is best that we keep our own coins in our hard wallets. But there is no wrong when people are staking even on decentralized platforms like Binance for example. There are risks but if people knew that then it is fine. If it is extra money then a thousand dollars earning $95 for a year is very good enough. We're talking about returns in contrast with banks very low yearly interests on our savings.

Instead of bashing people that staked their coins, why not share to us better ways to earn more?
I don't trust exchanges with my money. I only stake on DeFi platforms like Alchemix or in wallet using POS cryptos like ICP and Celo.
You mean centralized exchange? Because a crypto exchange has a two type. One is centralized and the other is decentralized but I think defi platforms (decentralized) are very risky compared to a well known centralized exchange. Often times we can hear a news that this and that defi platforms are getting hacked and millions or billions of money are getting stolen just like that.

Although there are hack events too that are happening in a centralized platform but I think they aren't that often as defi's. That's because they hold more users so they have the funds to develop a better security system which can't be easily accessed by any hackers.

It is important to lean and understand the platform first before you engage and start investing your money, both services have their own risk and advantages, with knowledge upon, you can pick which one is best suited for your money, investing wisely with a potential passive profits can be executed when you already know what and how to sort and pick the best venue for investment.

Keep in mind that the actual concept of investment is to ear and to continue to grow with your financial capabilities.

Not all investors and traders are doing their research they are just following other successful investors, then failed.
newbie
Activity: 41
Merit: 0
September 12, 2022, 09:50:31 AM
staking is a good one, it just depends on the APY, and the project you are invest in
sr. member
Activity: 1792
Merit: 293
👉bit.ly/3QXp3oh | 🔥 Ultimate Launc
September 12, 2022, 06:31:47 AM
add your money in staking it will definitely be higher. do you not understand staking? Yes, I know that each platform has a different presentation but Binance has higher trust and security. It's only natural that the percentage is smaller than other platforms because it is more secure.
hero member
Activity: 840
Merit: 501
PredX - AI-Powered Prediction Market
September 12, 2022, 05:39:42 AM
We will see some projects in which if we invest then there is a chance to get a lot of profit from here in the future but for that we need to invest in good projects and if we invest then we will have a lot of loss and face many hurdles so we are good.  It is better to think and invest
full member
Activity: 2170
Merit: 182
“FRX: Ferocious Alpha”
September 12, 2022, 02:53:16 AM
How do people even enjoy staking their coins and tokens? I'm confused, yesterday I tried to stake some amount of stable coin aka USDT on Binance Exchange and it is worth 1000$ but the return on this in a year is 95$ lol, I laughed so hard that I almost flipped my laptop, why the heck people doing this?.
why choose Stable coin when there are other coins that is having a good staking offering for Binance? Am not sure what is your plans and Ideas but i found it not even when  stable coin specially USDT is not worth staking for.

and why not locked the amount for much longer time than just a year? because if that funds is just for long term and willing to risk then there is no issue in waiting more.

It's true that stable coins like USDT are not a good choice for staking, I prefer staking other coins that can provide greater profits. But if we really want
to staking on stablecoins, we should not choose to staking on Binance, look for other platforms that offer higher interest rates. But we have to be careful
if staking on other platforms, make sure the platforms have a good reputation, so we won't lose our money. It must be admitted that it is very rare
for a trusted platform to offer high interest rates for staking, so if we feel that the profit generated from staking is unsatisfactory, it means that
staking is not something we should do. There are many other ways to make a profit in the crypto world, we just need to find information. What is
certain is that if there is a way that produces large profits, the risk is usually very high, very different from staking usually has a low risk.
actually I am not for very much profit mate but I am for safer investment mate , and I don't trust USDT or Stable coin for that and this is the reason  why I only use more movable coins than this coins.
I will never choose that kind of currency for my long term staking as I have already for some other sites and coins.
Yes that's true that there is a shadowness on Tether(USDT) . But if you want a stable fund  which will increase with  some apr then Binance savings is perfect solution here usdt,Busd(10%apr) ,Usdc(5%apr). On the others hand price movable coins has a high volatilities that's also a risk when you urgently needed . So I don't see any danger on Binance savings staking

nah , Am not sure if Stable coin is really a good idea mate either BUSD or USDT because look at this , why need to hold or use those coin when there isa Fiat that is more functional and safe?
what I mean is that there are lots of currency to keep and use for staking , that will assure us bigger return than stable coins.
Most of the Staking programs that provide great income are carried out by new Projects.and I often do this Staking.because Staking in my opinion is an effective and easy way to earn income without having to do anything. So this is what attracted me.
New project only promise bigger profit but the legitimacy ? are you safer?
sr. member
Activity: 2030
Merit: 323
September 08, 2022, 09:22:51 AM
It is best that we keep our own coins in our hard wallets. But there is no wrong when people are staking even on decentralized platforms like Binance for example. There are risks but if people knew that then it is fine. If it is extra money then a thousand dollars earning $95 for a year is very good enough. We're talking about returns in contrast with banks very low yearly interests on our savings.

Instead of bashing people that staked their coins, why not share to us better ways to earn more?
I don't trust exchanges with my money. I only stake on DeFi platforms like Alchemix or in wallet using POS cryptos like ICP and Celo.
You mean centralized exchange? Because a crypto exchange has a two type. One is centralized and the other is decentralized but I think defi platforms (decentralized) are very risky compared to a well known centralized exchange. Often times we can hear a news that this and that defi platforms are getting hacked and millions or billions of money are getting stolen just like that.

Although there are hack events too that are happening in a centralized platform but I think they aren't that often as defi's. That's because they hold more users so they have the funds to develop a better security system which can't be easily accessed by any hackers.
hero member
Activity: 840
Merit: 501
PredX - AI-Powered Prediction Market
September 08, 2022, 06:20:20 AM
I believe why the interest we get is small is because we stake on stable coins that really maintain their price and quality. it is impossible with a little staking capital to earn more like farming on a DeFi platform. you better increase your capital, because it's fair. you get stable coins with small interest it is like no risk.
Yes I think that you have not invested in the platform here but the risk is very low but if we look at the other disadvantages here then it can be seen that we have to invest before investing.
legendary
Activity: 1890
Merit: 1537
September 07, 2022, 05:14:39 PM
I believe why the interest we get is small is because we stake on stable coins that really maintain their price and quality. it is impossible with a little staking capital to earn more like farming on a DeFi platform. you better increase your capital, because it's fair. you get stable coins with small interest it is like no risk.
The more a person has large capital, the higher the interest rate, I completely agree with you, there are many good coins other than stable cpons that we can stake and earn money from holding in the long term without making them idle and not benefiting from them, the most important is To do staking on trusted exchange platforms such as Binance and others, and beware of the platforms that give more interest than the famous exchange platforms because they are mostly scam platforms whose purpose is to attract greedy people, so we have to be satisfied even with a small interest is better than not getting anything or losing our money in new platforms.
sr. member
Activity: 1666
Merit: 268
September 07, 2022, 04:12:02 PM
How do people even enjoy staking their coins and tokens? I'm confused, yesterday I tried to stake some amount of stable coin aka USDT on Binance Exchange and it is worth 1000$ but the return on this in a year is 95$ lol, I laughed so hard that I almost flipped my laptop, why the heck people doing this?.

At least the 1000$ you set up in stakes via Binance grew by 95$ in 1 year. Instead of putting it in the bank, that's not how your money will grow. But I think my advice to you is, next time you stake money, don't go to the Binance platform, better in my opinion according to my research  biswap is one of the good rather than Binance in my own assessment, at least on this platform you can withdraw the money anytime Unlike Binance you cannot, due to it will be lock up according to your set up period.  It's like a time deposit, in biswap it's the same but you can take it out at any time or even you just want to reduce it.

Always be careful with new platforms. Don't jump in without any research because of the high returns they offer and attractive policies, you could lose money. I don't know about the biswap you mentioned but I disagree with you that we should not go to Binance but go to a strange exchange, you are going against everyone. In addition to the functionality that allows you to withdraw your stake at any time, do they assure you that your funds will not be lost or locked?

The selection of platforms for staking is very important, we must make sure the platforms we use must have a good reputation. So that we don't
lose money, because nowadays there are lots of fraud incidents carried out by new platforms. Because like you said lest we be tempted by bigger
offers or more attractive policies, we end up staking on new platforms, where the risk of us losing money is huge. I think it's better to get
a smaller profit, but the platform we use is indeed trusted and has a good reputation. Binance is one of the platforms I recommend for
staking coins, because I have proven it myself. Which I stake on Binance and never had a problem.
hero member
Activity: 3066
Merit: 629
20BET - Premium Casino & Sportsbook
September 07, 2022, 02:08:33 PM
I don't trust exchanges with my money. I only stake on DeFi platforms like Alchemix or in wallet using POS cryptos like ICP and Celo.
Still, be careful, you don't forget that most defi platforms are being targeted by hackers and as well as frequently shown with exploits.
(https://hacken.io/research-and-investigation/top-defi-hacks-of-2022-and-how-to-protect-against-them/)
I understand how staking works and we have to leave our funds on the platforms but before doing that, make sure that you've done your research before entrusting your fund to any platform, centralized or decentralized.
legendary
Activity: 2996
Merit: 1054
Leading Crypto Sports Betting & Casino Platform
September 07, 2022, 12:36:13 PM
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In my opinion, staking is a good option, but in this case you have to understand what type of investor you are. If you are a short-term investor, staking is not for you; however, if you intend to invest in any coin or token for a long period of time, such as 2-3 years, why not use the staking feature if it is available? Just think you are holding a coin for 3 years. That's your plan. If you hold this coin for 3 years, then you will get the profit after 3 years when you sell it. The profit will be the price you paid for it. But if you stake and the return you will get from the coin is 20-30% atleast a year, then just imagine you will get your investment back after a 3 year stake period. That means now your investment amount is 90% extra. That means whatever profit you will get before you stake, now you will get an extra 90%. This means your investment becomes 90% extra without investing. That's it.

As long as you know the process and you have a good set target time period, staking is a good way to increase your investment, just look for potential project that have stake feature then hold it for some time, it's all on your good understanding that will allow you pick the right coin to stake your money. Like what you mentioned, short-term investors might not enjoy this feature unless you are staking with hype/pump new project who offer stake rewards, though the risk is always high with such kind of project better to find establish project or something that you take your time to DYOR before you go and start investing your money.

I believe why the interest we get is small is because we stake on stable coins that really maintain their price and quality. it is impossible with a little staking capital to earn more like farming on a DeFi platform. you better increase your capital, because it's fair. you get stable coins with small interest it is like no risk.

No risk unless the platforms collapse or runaway with investors' money. Your opinion is logical, stable coin provides small interest, but if the platform/services are established, the possibility of passive profits is a sure one for your investment.
jr. member
Activity: 840
Merit: 6
September 07, 2022, 08:19:23 AM
It is best that we keep our own coins in our hard wallets. But there is no wrong when people are staking even on decentralized platforms like Binance for example. There are risks but if people knew that then it is fine. If it is extra money then a thousand dollars earning $95 for a year is very good enough. We're talking about returns in contrast with banks very low yearly interests on our savings.

Instead of bashing people that staked their coins, why not share to us better ways to earn more?

 
I don't trust exchanges with my money. I only stake on DeFi platforms like Alchemix or in wallet using POS cryptos like ICP and Celo.
full member
Activity: 700
Merit: 182
September 07, 2022, 08:01:11 AM
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In my opinion, staking is a good option, but in this case you have to understand what type of investor you are. If you are a short-term investor, staking is not for you; however, if you intend to invest in any coin or token for a long period of time, such as 2-3 years, why not use the staking feature if it is available? Just think you are holding a coin for 3 years. That's your plan. If you hold this coin for 3 years, then you will get the profit after 3 years when you sell it. The profit will be the price you paid for it. But if you stake and the return you will get from the coin is 20-30% atleast a year, then just imagine you will get your investment back after a 3 year stake period. That means now your investment amount is 90% extra. That means whatever profit you will get before you stake, now you will get an extra 90%. This means your investment becomes 90% extra without investing. That's it.
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