Does staking even make any sense - page 16.

bittraffic

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Quote from: reil2014 on April 14, 2022, 12:26:52 AM

Try stake on Dex.
Staking now is great than trading. Thats my opinion.
Have you try dex.leonicornswap.com
Its great to search #LEOS

LEOS is not very popular, I'm probably the only person who took notice to it.

On twitter there are discussions about ADA staking which people are suggesting to withdraw the ADA they have from exchanges to stop staking in centralize exchanges.
Half of the people I believe contradicts this position because staking on Binance for example gives them 5% than staking on personal wallet which is just about 2%. The math speaks more when it comes to where to stake though.

reil2014

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Try stake on Dex.
Staking now is great than trading. Thats my opinion.
Have you try dex.leonicornswap.com
Its great to search #LEOS

i8v8i

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Quote from: CryptoArena_Official on April 12, 2022, 05:36:23 PM

Quote from: cryptosru on April 06, 2022, 06:03:23 PM

Now staking is very popular because it requires to earn more income. Especially staking popular when market rise. But a lot of depends on the projects. Now appear a lot of projects that offer many useful things and products like this https://twitter.com/InpulseX_io/status/1511365325950005252

Staking now is very popular because different DeFi products use staking to offer different financial services.
To be demand every project must have a good liquidity and a lot of users.

Staking is ecological frendly, it does not requires electricity. It allows to attract attention to the project and unite the community of users.

Oceat

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Quote from: JohnBitCo on April 12, 2022, 06:35:43 PM

Quote from: Oceat on April 12, 2022, 06:13:09 PM

Quote from: MetaMii on April 06, 2022, 06:00:15 AM

Sigh, I don't expect anyone complaining about annual returns on staking when your bank account cant even earn up to that amount per year, I have over 30,000$ in my bank account and I can't even take a loan of 1000$ per month, again I don't receive any reasonable returns on this money.

Yeah, I guess this was the most reason why someone do some staking but let's just accept the fact that staking is for rich people and those people who can't afford to invest/stake higher amount of money they should be happy with what they got and appreciate the return even though it's small at least there's a return if you compare it to bank which does makes sense that the difference is big.

I believe there is an option that you can take your money back anytime you like after staking so it's a win-win though.

Keep in mind, that not all staking opportunities let you take back your investment instantly. Most of the time when you stake your crypto, there is a locking period and you can only take the money out of staking once that locking period is over.

For those who argue that staking does not give big returns should know that staking ROI may be low but you have to do nothing in order to get these rewards. Staking is an easy money making process.

Yeah, it's almost like doing some faucet but staking is much better than faucet since it's an easy money task so the risk is less that's why the return is less too. It's the same goes for high risk, high rewards investment so it's up to the person how knowledgeable they are about to a certain investment. It almost looks like a gambling only if you don't have enough knowledge about it but for those who have knowledge it's a 50% chance to win and 50% chance that they might lose it.

JohnBitCo

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Quote from: Oceat on April 12, 2022, 06:13:09 PM

Quote from: MetaMii on April 06, 2022, 06:00:15 AM

Sigh, I don't expect anyone complaining about annual returns on staking when your bank account cant even earn up to that amount per year, I have over 30,000$ in my bank account and I can't even take a loan of 1000$ per month, again I don't receive any reasonable returns on this money.

Yeah, I guess this was the most reason why someone do some staking but let's just accept the fact that staking is for rich people and those people who can't afford to invest/stake higher amount of money they should be happy with what they got and appreciate the return even though it's small at least there's a return if you compare it to bank which does makes sense that the difference is big.

I believe there is an option that you can take your money back anytime you like after staking so it's a win-win though.

Keep in mind, that not all staking opportunities let you take back your investment instantly. Most of the time when you stake your crypto, there is a locking period and you can only take the money out of staking once that locking period is over.

For those who argue that staking does not give big returns should know that staking ROI may be low but you have to do nothing in order to get these rewards. Staking is an easy money making process.

Quidat

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Quote from: Ketesnuko on April 06, 2022, 04:42:25 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?.

Considering APY's % then you would really be looking this to be funny as these rates arent really that interesting to look at but surprisingly there are lots who are really fan on staking up their coins.
Dont know on what their reason is but its their money after all and they do have the full rights on how they would gonna spend or use it depending into their investment decisions.
Does it make any sense? Some people would say yes and some would definitely say no because holding the coins itself might possibly generate even more % on a year basis without
needing to risk on putting it into some platform.

Oceat

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Quote from: MetaMii on April 06, 2022, 06:00:15 AM

Sigh, I don't expect anyone complaining about annual returns on staking when your bank account cant even earn up to that amount per year, I have over 30,000$ in my bank account and I can't even take a loan of 1000$ per month, again I don't receive any reasonable returns on this money.

Yeah, I guess this was the most reason why someone do some staking but let's just accept the fact that staking is for rich people and those people who can't afford to invest/stake higher amount of money they should be happy with what they got and appreciate the return even though it's small at least there's a return if you compare it to bank which does makes sense that the difference is big.

I believe there is an option that you can take your money back anytime you like after staking so it's a win-win though.

TimeTeller

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Quote from: Natalim on April 12, 2022, 05:58:59 PM

Quote from: Ketesnuko on April 06, 2022, 04:42:25 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?.

Perhaps, $95 is already big compared to what you get upon depositing your $1000 in the bank. Does have any banks give you that percentage return? Probably, no.

For you, it never makes sense but for those who just hold their crypto and wanted to grow their money through staking, that was much appreciated. Plus, they never pay taxes unlike if you put your money in the bank.

Well, it wasn't a big issue if people do staking, putting their money in the bank, or do trading. They'll choose where they feel comfortable.

This is one way to look at it. Because most banks are offering very little interest, it is like you are just basically letting them store your funds.
So if you have no plans for example in your stable coin, better stake or put into fixed/flexible savings where you will get more.
It may not be big but at least while waiting for the right time to spend, it gained something.
But you need to consider the platform that you will be putting your funds, because most will disappear into thin air.

Natalim

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Quote from: Ketesnuko on April 06, 2022, 04:42:25 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?.

Perhaps, $95 is already big compared to what you get upon depositing your $1000 in the bank. Does have any banks give you that percentage return? Probably, no.

For you, it never makes sense but for those who just hold their crypto and wanted to grow their money through staking, that was much appreciated. Plus, they never pay taxes unlike if you put your money in the bank.

Well, it wasn't a big issue if people do staking, putting their money in the bank, or do trading. They'll choose where they feel comfortable.

pandanaran

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I usually do staking coins instead of stable coins like USDT because the APY is very small but the risk is also very small so it won't be worth it if we bet with that coin, you can get Staking with other tokens that allow getting a large APY but the risk of holding the coin it is also high enough that it takes more courage to stake the coin on the staking platform.

CryptoArena_Official

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Quote from: brat111111 on April 11, 2022, 04:22:33 PM

Quote from: cryptosru on April 06, 2022, 06:03:23 PM

Now staking is very popular because it requires to earn more income. Especially staking popular when market rise. But a lot of depends on the projects. Now appear a lot of projects that offer many useful things and products like this https://twitter.com/InpulseX_io/status/1511365325950005252

Many project uses staking to attract more users and get their loyality.
The ability to get passive income thanks staking attract a lot of users.

Staking now is very popular because different DeFi products use staking to offer different financial services.
To be demand every project must have a good liquidity and a lot of users.

RussianEnglishTranslation

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Quote from: Ketesnuko on April 06, 2022, 04:42:25 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?.

You can get higher returns staking cryptos like NEAR (13%) and ICP (28.9%). I never bother staking stablecoins, why do it when crypto can easily 100x. USD isn't going to 100x up, maybe down in real world value.

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Quote from: Ketesnuko on April 06, 2022, 04:42:25 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?.

When you compare the profits to what you can get with trading or investing you may have a point, however you must understand that many people prefer to have safe and constant profits rather than to try to maximize their profits and suffer from long drawdowns.

So 9.5% return per year may seem low to you but compared to what banks can give you, which in many places is not above 2%, then those profits you get by staking your coins are in fact significant enough for most people to consider this as a good option.

SistaFista

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Quote from: Ketesnuko on April 06, 2022, 04:42:25 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?.

If we get $95 from our staked $1000, that means the staking APR is 9.5% which is good for stable coin.
Well, actually the staking company can use our staked money to make more money and profits.
Some companies are able to make money more than 2x from their initial capital, thats why they can offer you 9.5% APR.

Vaskiy

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Quote from: TopT3ns on April 11, 2022, 05:56:05 PM

Quote from: bittick on April 10, 2022, 09:32:26 AM

10% interest for a year and you just did nothing to receive that and doesn't it even make sense for you? You will earn less even when you are putting your money into your bank account. 10% for the stable tokens staking were the best reward that you can received that. You must also remember that when you are also staking small amounts of money and you get what you have staked it. The fact that when you are also seeing the market and you will be seeing so many people are also staking their stable tokens for that APY.
They to know that if that's good enough for them to earn good APY with do nothing. What are you laughing for?

I don't see are interested with return earning about 10% every year and better keep trade with several potential altcoin and have chance more than 40% profit if keep consistent one month. Very little reward or profit with return 10% every year and got under 1% every month although with bigger fund still not enough reason for staking with reward 10%. but depending with individual thing because they want keep safety and try staking although with reward only 10%, maybe they have commitment about as saving money better staking than keep save only without any profitable.

Staking of top order cryptocurrencies is not the right choice in my view. 10% is good for a potential token that is being predicted for long term market growth. Staking such tokens won't be a big hurdle and gives something out of it. Even here nothing is assured, bit we move based on the trust over the project.

According to me users who have the plans of holding the assets without getting it engaged into trading practice or into regular transaction needs can go with staking. This will help increase the holding volume. Same time it has got risks as we hold it on a third party platform for a long term.

TopT3ns

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Quote from: bittick on April 10, 2022, 09:32:26 AM

10% interest for a year and you just did nothing to receive that and doesn't it even make sense for you? You will earn less even when you are putting your money into your bank account. 10% for the stable tokens staking were the best reward that you can received that. You must also remember that when you are also staking small amounts of money and you get what you have staked it. The fact that when you are also seeing the market and you will be seeing so many people are also staking their stable tokens for that APY.
They to know that if that's good enough for them to earn good APY with do nothing. What are you laughing for?

I don't see are interested with return earning about 10% every year and better keep trade with several potential altcoin and have chance more than 40% profit if keep consistent one month. Very little reward or profit with return 10% every year and got under 1% every month although with bigger fund still not enough reason for staking with reward 10%. but depending with individual thing because they want keep safety and try staking although with reward only 10%, maybe they have commitment about as saving money better staking than keep save only without any profitable.

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Quote from: brat111111 on April 11, 2022, 04:22:33 PM

Quote from: nininyashka on April 08, 2022, 03:13:09 PM

Quote from: cryptosru on April 06, 2022, 06:03:23 PM

Now staking is very popular because it requires to earn more income. Especially staking popular when market rise. But a lot of depends on the projects. Now appear a lot of projects that offer many useful things and products like this https://twitter.com/InpulseX_io/status/1511365325950005252

Staking offers many opportunities to earn money. That is why staking now so popular and in demand because it attract a lot of attention of potential users.

Many project uses staking to attract more users and get their loyality.
The ability to get passive income thanks staking attract a lot of users.

Its not always about making money, staking also requires good timing because you can also experience the same problem with OP if you didn’t take time to analyze before staking. This is the result of volatility, the token you stake are still vulnerable so there’s still no guaranteed profit here, you just have to be more patient when you do staking to see good results.

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Quote from: nininyashka on April 08, 2022, 03:13:09 PM

Quote from: cryptosru on April 06, 2022, 06:03:23 PM

Now staking is very popular because it requires to earn more income. Especially staking popular when market rise. But a lot of depends on the projects. Now appear a lot of projects that offer many useful things and products like this https://twitter.com/InpulseX_io/status/1511365325950005252

Staking offers many opportunities to earn money. That is why staking now so popular and in demand because it attract a lot of attention of potential users.

Many project uses staking to attract more users and get their loyality.
The ability to get passive income thanks staking attract a lot of users.

bittick

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10% interest for a year and you just did nothing to receive that and doesn't it even make sense for you? You will earn less even when you are putting your money into your bank account. 10% for the stable tokens staking were the best reward that you can received that. You must also remember that when you are also staking small amounts of money and you get what you have staked it. The fact that when you are also seeing the market and you will be seeing so many people are also staking their stable tokens for that APY.
They to know that if that's good enough for them to earn good APY with do nothing. What are you laughing for?

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Quote from: SaveOurSea on April 09, 2022, 09:05:33 AM

Quote from: Ketesnuko on April 06, 2022, 04:42:25 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?.

many people do that because indeed the money they stake is cold money, meaning that the money is really not used in everyday life, yes it doesn't matter in my opinion, even though the return is only $95 in a year but it's still profitable isn't it? but if you have cold money more than $ 1000 of course it's in vain, because many investments are more profitable than that.

95$ interest paid after one year of staking over 1000$ means 9,5% or 0,79% monthly. Considering these rates are being paid over an USDT investment, a stable coin which follows dollar price, I think it doesn't worth anyway, because the inflation will totally kill the purchasing power along that same period of time. It means what you buy today with 1000$, won't be possible to be bought with 1095$ after one year. Inflation rises much faster than the interst income being paid to the investor. Binance rates are too low and too bad. To stake stable coins efficiently, interest rates offered must be higher, otherwise, better to stick with volatile main cryptocurrencies only.

Topic: Does staking even make any sense - page 16. (Read 8481 times)