Topic: Does staking even make any sense - page 20. (Read 8481 times)
My friends have a huge amount of money that he hasn't even used for years because he can support himself and continue saving some excess money, imagine if this guy put his money in the staking coins that have the highest return percentage In Binance? he will get some multiplier in his savings that will gonna change his life forever. Staking is for the long term, I can't afford to stake it right now so I skipped it and just proceed to the thing which I am comfortable with which is daily trading.
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?.
This means you got a anual interest of 9.5% if your mentioned figures are right. 10-year U.S. Treasury bonds are currently yielding around 2.5%, so staking is a good deal after all. Or did I not understand something of your argumentation? By the way, you can earn even more with staking, but then you must not stake stablecoins, which always bring in less as staking rewards than very volatile coins due to their value instability.
It's a stablecoin, what do you expect? There is less risk in it as you are secured there is no volatility. It will give a percentage almost near the amount of what they give in banks. I'd just be thankful you received some. That's still 10 percent for a year while banks will give you lesser or worst none.
If you want profits that would surprise you then go for high risk coins. But remember, there's also the possibility it will be gone without any information of why or the return are high in amounts but in less value because of the market change.
If you want profits that would surprise you then go for high risk coins. But remember, there's also the possibility it will be gone without any information of why or the return are high in amounts but in less value because of the market change.
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?.
That is 9.5% annual interest. You are laughing at this but people actually retire on much lower yields (like 4%, 5%). Make it a million dollars and you'll get $100k every year. Of course I wouldn't trust Binance with my life savings. It is a crypto exchange not a trusted investment firm. That's why they are paying you this ridiculous interest rate.
How do people even enjoy staking their coins and tokens? I'm confused, yesterday I tried to stake some amount of stable coin aka USDT on Binance Exchange and it is worth 1000$ 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?.
People have more than money than you imagine people with million dollar and staking it without doing anything and get 9.5% in return. Also it is important to look at the APY not all coins have the same APY so you should consider that too.
How do people even enjoy staking their coins and tokens?
The real believers. 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?.
Are you expecting to earn 1k with your 1k. Im laughing right now. How many stable token earned totally based on how many stable coin that staked in the network. You can imagine when someone has 1 million USDT and it will be staked with 10% APY. This guy will earn about 100k USDT in a year. How many reward for your staking totally depend with how much your money. If you wanna get more APY and then go to the shit token.
It seems like you didn't even understand about this.
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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?.
A 95$ annual interest on a 1000$ USDT is already 9.5%.That is higher than the regular banks right now. How much interest bank gives to the users? Some gives less than a percent annually and there are some who has hidden charges. Also include inflation since its fiat.
I mean there is nothing wrong and nothing laughable with staking coins? Its like holding a stock that gives you dividends. The concept is the same but with different asset only. Why we are doing this? Hmmm maybe because we want passive income? I'd like to invest it into staking coins though than putting it in my bank account LOL.
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?.
Imagine someone have 1 billion dollar and don't have time to manage that so they are staking to get that 9.5% make sense right so its definitely not going to make rich but for someone who is having lot and lots of money but don't know what to do with that can go for staking. 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 want security(stable coin aka USDT) simultaneously you need better yield, that's not how the systems work buddy. Stable coin aka USDT offer lowest return on your staking, for instance on your proffered exchange APY rate is changed everyday in view of the on-chain staking rewards. Suppose to generate bigger return you have to shift any newly alts which offer highly return on their first appearance in this industry. Yes, risk is involve but it's also worthy to take risk.
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.
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?.
What do you mean? a year return for a $1000 is just $95? Anyhow, I think for others still worth it though, because you won't get that annual returns if you just kept it in a bank. So it make sense for the majority to ride on this new hype, the whole game of staking. And obviously, the more capital you stake the better is the reward in the long run.
Try with 10,000$ 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.
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?.
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