Does staking even make any sense - page 5.

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Quote from: Abiky on July 24, 2022, 06:20:56 PM

After recent events I wouldn’t even consider it.

Seriously get your coins off exchanges & even worse, don’t think about trying to earn yield by giving up your keys. It’s just not worth the risk.

It's not worth staking coins on centralized platforms because you can end up losing it all in an instant. As it's always said: "Not your keys, not your coins". You should consider staking coins on a non-custodial wallet for complete peace of mind. How much you will earn in Fiat terms will depend on current market conditions. I'd advise anyone to stake coins with a low APR in order to avoid losing purchasing power (due to inflation) over time. Coins like Peercoin (PPC), Komodo (KMD), Diamond (DMD), TRON (TRX), Cardano (ADA), and Polkadot (DOT) should be on the top of your list of coins to stake.

Ultimately, it's all about diversification. As long as you diversify your investment, the risks of loss will be at the minimum. Who knows if you become the next crypto millionaire by playing it safe? Just my thoughts Grin

Correct. I completely agree that staking coins is the safest and most reliable way to earn high yield but I would add staking tokens like MAXX (MAXX Finance) and ALCX (Alchemix) to that list. These are DeFi platforms with revenue that backstop the value of the token. You don't validate transactoins but they are important pieces of protocols that can generate extreme APY sustainably.

Docnaster

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Quote from: Ultegra134 on July 24, 2022, 02:23:38 PM

Quote from: Docnaster on July 24, 2022, 08:07:42 AM

Quote from: Pujangga on July 22, 2022, 09:38:44 AM

Staking is a strategy from developers to make users loyal and willing to hold on for the long term, but a lot of staking in my opinion doesn't make sense, they dare to give APY up to thousands of percent and of course we deserve to be vigilant and make sure to do DYOR before staking.

It is the same thing for banks who operates fixed deposit account. They use this method to make customers stick around with the bank and make their money to still in circulation within the system. But the difference is that local banks don't give upto 9.5% annual interest like crypto staking do but with 3 to 4%. For people that don't have urgent need of their money, staking is good. It's better than depreciating

Since when do banks give up to 3% or 4% interest? The most you'd get is 0.10% here, I also doubt that it's much higher in other countries. Staking stablecoins on Beefy can easily yield up to 10% to 15% APY, which is great. Even OP's APY is decent for the $1.000 he put, what did he expect, honestly. I'm currently earning approximately $1/day (10% APY), while my bank's deposit pays €2 per 3 months for double the amount I had deposited.

It's a relatively safe way to have a decent interest if you have money sitting around.

I don't know what the OP was thinking staking was. Staking is just saving your coin which we do with local banks without having anything to show for it. The 9.5% is OK, the impact would be seen when the amount of coins to be saved is higher. Let’s say he is saving $100k, he will surely appreciate the interest he was given.
Staking is first saving before earning, if you want to earn, go trade with your coin with whatever leverage you want and earn huge.

Pamadar

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Quote from: milewilda on July 24, 2022, 02:33:13 PM

When we do talk about interest then there's no doubt that staking in known platform with those coins would really be totally worth but but we shouldnt really cross out the probabilities or in speaking with risk because we know that everything here on crypto space wont really be giving out that kind of assurance for it to last for a lifetime thats why some people arent really that interested
on touching up these things despite of the interesting interest or APY that it does give compared into their banks which their cash is sitting.So its a personal choice
whether you are really be considering on staking or would simply be just skip on it because you cant take the risk.

You need to balance both risk and the gain that you might get when using this kind of investment,

Staking serves as passive if you invest with good coin that have good potential, aside from small profits from the stake rewards
the possibilities to see the value of the coin to grow is really high.

Just don't forget to do your DYOR and pick staking coins that have real usages. The chance that it will grow along the way is high.

Abiky

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Quote from: ?? on ??

After recent events I wouldn’t even consider it.

Seriously get your coins off exchanges & even worse, don’t think about trying to earn yield by giving up your keys. It’s just not worth the risk.

It's not worth staking coins on centralized platforms because you can end up losing it all in an instant. As it's always said: "Not your keys, not your coins". You should consider staking coins on a non-custodial wallet for complete peace of mind. How much you will earn in Fiat terms will depend on current market conditions. I'd advise anyone to stake coins with a low APR in order to avoid losing purchasing power (due to inflation) over time. Coins like Peercoin (PPC), Komodo (KMD), Diamond (DMD), TRON (TRX), Cardano (ADA), and Polkadot (DOT) should be on the top of your list of coins to stake.

Ultimately, it's all about diversification. As long as you diversify your investment, the risks of loss will be at the minimum. Who knows if you become the next crypto millionaire by playing it safe? Just my thoughts Grin

Ultegra134

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Quote from: milewilda on July 24, 2022, 02:33:13 PM

Quote from: Ultegra134 on July 24, 2022, 02:23:38 PM

Quote from: Docnaster on July 24, 2022, 08:07:42 AM

Quote from: Pujangga on July 22, 2022, 09:38:44 AM

Staking is a strategy from developers to make users loyal and willing to hold on for the long term, but a lot of staking in my opinion doesn't make sense, they dare to give APY up to thousands of percent and of course we deserve to be vigilant and make sure to do DYOR before staking.

It is the same thing for banks who operates fixed deposit account. They use this method to make customers stick around with the bank and make their money to still in circulation within the system. But the difference is that local banks don't give upto 9.5% annual interest like crypto staking do but with 3 to 4%. For people that don't have urgent need of their money, staking is good. It's better than depreciating

Since when do banks give up to 3% or 4% interest? The most you'd get is 0.10% here, I also doubt that it's much higher in other countries. Staking stablecoins on Beefy can easily yield up to 10% to 15% APY, which is great. Even OP's APY is decent for the $1.000 he put, what did he expect, honestly. I'm currently earning approximately $1/day (10% APY), while my bank's deposit pays €2 per 3 months for double the amount I had deposited.

It's a relatively safe way to have a decent interest if you have money sitting around.

When we do talk about interest then there's no doubt that staking in known platform with those coins would really be totally worth but but we shouldnt really cross out the probabilities or in speaking with risk because we know that everything here on crypto space wont really be giving out that kind of assurance for it to last for a lifetime thats why some people arent really that interested
on touching up these things despite of the interesting interest or APY that it does give compared into their banks which their cash is sitting.So its a personal choice
whether you are really be considering on staking or would simply be just skip on it because you cant take the risk.

Certainly, I'm one of those who got screwed over with that so-called stablecoin UST, fortunately, I was relatively lucky and cut my losses early. It was deemed as a safe staking investment, offering a relatively decent APY and within 2 days, it plummeted due to the Luna incident. There's no such thing as a guarantee in cryptocurrencies (or generally when money is involved).

milewilda

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Quote from: Ultegra134 on July 24, 2022, 02:23:38 PM

Quote from: Docnaster on July 24, 2022, 08:07:42 AM

Quote from: Pujangga on July 22, 2022, 09:38:44 AM

Staking is a strategy from developers to make users loyal and willing to hold on for the long term, but a lot of staking in my opinion doesn't make sense, they dare to give APY up to thousands of percent and of course we deserve to be vigilant and make sure to do DYOR before staking.

It is the same thing for banks who operates fixed deposit account. They use this method to make customers stick around with the bank and make their money to still in circulation within the system. But the difference is that local banks don't give upto 9.5% annual interest like crypto staking do but with 3 to 4%. For people that don't have urgent need of their money, staking is good. It's better than depreciating

Since when do banks give up to 3% or 4% interest? The most you'd get is 0.10% here, I also doubt that it's much higher in other countries. Staking stablecoins on Beefy can easily yield up to 10% to 15% APY, which is great. Even OP's APY is decent for the $1.000 he put, what did he expect, honestly. I'm currently earning approximately $1/day (10% APY), while my bank's deposit pays €2 per 3 months for double the amount I had deposited.

It's a relatively safe way to have a decent interest if you have money sitting around.

When we do talk about interest then there's no doubt that staking in known platform with those coins would really be totally worth but but we shouldnt really cross out the probabilities or in speaking with risk because we know that everything here on crypto space wont really be giving out that kind of assurance for it to last for a lifetime thats why some people arent really that interested
on touching up these things despite of the interesting interest or APY that it does give compared into their banks which their cash is sitting.So its a personal choice
whether you are really be considering on staking or would simply be just skip on it because you cant take the risk.

Ultegra134

hero member

Activity: 1778

Merit: 907

Quote from: Docnaster on July 24, 2022, 08:07:42 AM

Quote from: Pujangga on July 22, 2022, 09:38:44 AM

Staking is a strategy from developers to make users loyal and willing to hold on for the long term, but a lot of staking in my opinion doesn't make sense, they dare to give APY up to thousands of percent and of course we deserve to be vigilant and make sure to do DYOR before staking.

It is the same thing for banks who operates fixed deposit account. They use this method to make customers stick around with the bank and make their money to still in circulation within the system. But the difference is that local banks don't give upto 9.5% annual interest like crypto staking do but with 3 to 4%. For people that don't have urgent need of their money, staking is good. It's better than depreciating

Since when do banks give up to 3% or 4% interest? The most you'd get is 0.10% here, I also doubt that it's much higher in other countries. Staking stablecoins on Beefy can easily yield up to 10% to 15% APY, which is great. Even OP's APY is decent for the $1.000 he put, what did he expect, honestly. I'm currently earning approximately $1/day (10% APY), while my bank's deposit pays €2 per 3 months for double the amount I had deposited.

It's a relatively safe way to have a decent interest if you have money sitting around.

Docnaster

hero member

Activity: 1638

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Leading Crypto Sports Betting & Casino Platform

Quote from: Pujangga on July 22, 2022, 09:38:44 AM

Staking is a strategy from developers to make users loyal and willing to hold on for the long term, but a lot of staking in my opinion doesn't make sense, they dare to give APY up to thousands of percent and of course we deserve to be vigilant and make sure to do DYOR before staking.

It is the same thing for banks who operates fixed deposit account. They use this method to make customers stick around with the bank and make their money to still in circulation within the system. But the difference is that local banks don't give upto 9.5% annual interest like crypto staking do but with 3 to 4%. For people that don't have urgent need of their money, staking is good. It's better than depreciating

Defi_space

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Quote from: Buakaw_Club on July 23, 2022, 04:01:49 PM

Quote from: Impact_Women on June 30, 2022, 06:43:03 AM

Staking is very important for all the project because it allows to earn more passive income but the project but itself must be useful and bring something new to people like https://twitter.com/ImmobiliumInc/status/1541555357524312065

That is why it is important to carefully evaluate the potential of every project.

Staking becomes more popular because it offers a lot of useful opportunities and allows people to earn money.
Many people are actively use staking to earn money.

Many people belive that cryptocurrency market will continue to grow. That is why they pay more and more attention to staking and the opporutnity to earn passive income.

Buakaw_Club

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Quote from: Cairo_Finance on July 22, 2022, 12:38:51 PM

Quote from: Impact_Women on June 30, 2022, 06:43:03 AM

Staking is very important for all the project because it allows to earn more passive income but the project but itself must be useful and bring something new to people like https://twitter.com/ImmobiliumInc/status/1541555357524312065

That is why it is important to carefully evaluate the potential of every project.

Staking allows to earn passive income. Now cryptocurrency market started to rise and it is a good opportuntity to pay attention to digital assets and the opportunities it offers.

Staking becomes more popular because it offers a lot of useful opportunities and allows people to earn money.
Many people are actively use staking to earn money.

Cairo_Finance

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Activity: 72

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Quote from: Artik_Finance on July 21, 2022, 11:52:01 AM

Quote from: Impact_Women on June 30, 2022, 06:43:03 AM

Staking is very important for all the project because it allows to earn more passive income but the project but itself must be useful and bring something new to people like https://twitter.com/ImmobiliumInc/status/1541555357524312065

That is why it is important to carefully evaluate the potential of every project.

Many projects have staking and now investors have a big choice of projects with staking.
It is very important to choose the projects that are useful for people and will be in demand in the future.

Staking allows to earn passive income. Now cryptocurrency market started to rise and it is a good opportuntity to pay attention to digital assets and the opportunities it offers.

Pujangga

member

Activity: 1078

Merit: 12

Staking is a strategy from developers to make users loyal and willing to hold on for the long term, but a lot of staking in my opinion doesn't make sense, they dare to give APY up to thousands of percent and of course we deserve to be vigilant and make sure to do DYOR before staking.

jhonjhon

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There are a few advantages for those who choose to engage in staking, such as the fact that the cryptocurrency will continue to work for them and do all the hard work, potentially increasing their value and generating additional rewards, as opposed to just sitting dormant in a crypto wallet and waiting for the user to decide what to do with them. The extra benefit is that they could increase the security and effectiveness of the ongoing blockchain initiatives, in addition to potentially increasing and delivering more prizes.
Ref. https://winz.io/blog/benefits-and-risks-associated-with-staking/

RussiaUkraineTranslation

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Activity: 224

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Quote from: Artik_Finance on July 21, 2022, 11:52:01 AM

Quote from: 100xcoin on July 20, 2022, 01:31:57 PM

Quote from: Impact_Women on June 30, 2022, 06:43:03 AM

Staking is very important for all the project because it allows to earn more passive income but the project but itself must be useful and bring something new to people like https://twitter.com/ImmobiliumInc/status/1541555357524312065

That is why it is important to carefully evaluate the potential of every project.

Passive income is very important for people and it attracts a lot of people.
Now cryptocurrency market started to recovery and its attracts a lot of people to digital assets.

Many projects have staking and now investors have a big choice of projects with staking.
It is very important to choose the projects that are useful for people and will be in demand in the future.

Good point. It's not enough to have a high yield staking platform, it needs to have utility and a means to generate revenue. That's why I like MAXX Finance, the revenue they receive from validator nodes and token transaction fees are directed to a DAO for distribution to stakers.

Artik_Finance

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Activity: 127

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Quote from: 100xcoin on July 20, 2022, 01:31:57 PM

Quote from: Impact_Women on June 30, 2022, 06:43:03 AM

Staking is very important for all the project because it allows to earn more passive income but the project but itself must be useful and bring something new to people like https://twitter.com/ImmobiliumInc/status/1541555357524312065

That is why it is important to carefully evaluate the potential of every project.

Passive income is very important for people and it attracts a lot of people.
Now cryptocurrency market started to recovery and its attracts a lot of people to digital assets.

Many projects have staking and now investors have a big choice of projects with staking.
It is very important to choose the projects that are useful for people and will be in demand in the future.

Pamadar

legendary

Activity: 2982

Merit: 1028

Quote from: 100xcoin on July 20, 2022, 01:31:57 PM

Quote from: Impact_Women on July 19, 2022, 02:20:08 PM

Quote from: Impact_Women on June 30, 2022, 06:43:03 AM

Staking is very important for all the project because it allows to earn more passive income but the project but itself must be useful and bring something new to people like https://twitter.com/ImmobiliumInc/status/1541555357524312065

That is why it is important to carefully evaluate the potential of every project.

Now cryptocurrency market started to rise and staking becomes more interesting for token holders.
Also now appear a new and interesting projects with staking and it is very important to evaluate the potential of such coins.

Passive income is very important for people and it attracts a lot of people.
Now cryptocurrency market started to recovery and its attracts a lot of people to digital assets.

Passive if you choose the right asset to stake, it's not easy but doable by doing your deeper research,

there are many available staking coins that you can choose, just make sure to understand the market and how the
developers work with their project.

With good knowledge, you'll be able to recognize and maximize the full potentials of your chosen coins.

100xcoin

copper member

Activity: 117

Merit: 0

Quote from: Impact_Women on July 19, 2022, 02:20:08 PM

Quote from: Impact_Women on June 30, 2022, 06:43:03 AM

Staking is very important for all the project because it allows to earn more passive income but the project but itself must be useful and bring something new to people like https://twitter.com/ImmobiliumInc/status/1541555357524312065

That is why it is important to carefully evaluate the potential of every project.

Now cryptocurrency market started to rise and staking becomes more interesting for token holders.
Also now appear a new and interesting projects with staking and it is very important to evaluate the potential of such coins.

Passive income is very important for people and it attracts a lot of people.
Now cryptocurrency market started to recovery and its attracts a lot of people to digital assets.

RussianEnglishTranslation

jr. member

Activity: 840

Merit: 6

Quote from: len01 on July 20, 2022, 06:02:46 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?.

if staking looks funny to you at 9.5% interest annum and you get $95 on $1000 capital why don't you try investing your money in your state bank? and try to laugh again after seeing the interest you receive after a year of investing in the bank.
what i know is that staking in crypto has a much higher interest rate than state banks, only 1.9% - 3.25% per year. if you feel the staking interest at USDT 9.5% looks a bit, try to compare it with a local bank in your country.
for me getting $95 a year with $1000 starting capital is big interest. try to put your money in USDT $100,000 and see how much you will get. are you still going to laugh lol

I would rather have my money in ICP earning 20% APY, or NEAR earning 13% staking in my wallet rather than putting my money in a bank in a "losing account" while inflation is over 175% in some countries. Staking cryptos these days is a no brainer.

len01

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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 staking looks funny to you at 9.5% interest annum and you get $95 on $1000 capital why don't you try investing your money in your state bank? and try to laugh again after seeing the interest you receive after a year of investing in the bank.
what i know is that staking in crypto has a much higher interest rate than state banks, only 1.9% - 3.25% per year. if you feel the staking interest at USDT 9.5% looks a bit, try to compare it with a local bank in your country.
for me getting $95 a year with $1000 starting capital is big interest. try to put your money in USDT $100,000 and see how much you will get. are you still going to laugh lol

ilovealtcoins

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SmartFi - EARN, LEND & TRADE

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 it's not $1000 but a bigger number, say you have $1 million that you don't have too much time to invest instead you want to find a steady income then 10% of the 1 million dollars in a year, I don't think so. a smaller amount. Staking is suitable for people with large capital, spare money and just want a good passive income source. it is not suitable for people like you who are looking for big profits.

Topic: Does staking even make any sense - page 5. (Read 8481 times)