Does staking even make any sense - page 6.

S A KHAIR

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Quote from: raidarksword on July 14, 2022, 07:00:45 AM

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.

If you do not have money to dca or accumulate more during this period, staking is a solution to increase the number of coins you are holding instead of keeping them in your wallet and doing nothing. But staking, your coins will be locked, so you won't be able to use them if the market spikes suddenly, so staking is like holding long.

Jancuki

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

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.

It's very tempting when there is a staking system (POS) other than we can get incentives, we don't need to do anything, we just need to lock it. But still there is a risk, given yesterday's incident when the market was bearish, the token price dropped and the payouts couldn't cover the losses from the price drop. For example I've staked atom tokens with $145 in capital and now it's down to $48, which I'm using cold cash and won't be withdrawing any time soon. My advice is to be more careful if you want to stake tokens, you need to look at it in terms of future clarity and clearer roadmap.

Abiky

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Quote from: Doell on July 18, 2022, 03:32:25 PM

I think better to ignore projects that offer thousands of percent returns, you will most likely be surprised when the product is worthless in the next year even this is like a trap. 10% in a year is enough to generate passive profits which are almost low risk, but still risky you have to find a trusted platform.

Staking only make sense if you have spare money to lose. If you're living from paycheck to paycheck, then staking is not for you. It's just too risky. As with every investment, the higher the reward, the higher the risk of loss will be. I'd choose PoS coins with a low stake rate as they tend to maintain their price over time. Those with high stake rates (inflation) often end up being worthless over time. There's now the ability to "stake" stablecoins within "De-Fi" platforms, greatly expanding your chances of profit.

Whatever you do, don't invest more than what you can't afford to lose to avoid becoming bankrupt in an instant. Diversification is key towards being successful at staking. Just my opinion

Impact_Women

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Quote from: Abco on July 18, 2022, 02:26:34 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.

The opportunity to earn passive income attract a lot of people to staking. Staking is not profitable during the fall of the market but after the fall of the market will be a rise and it is important to wait for the rise and find the most prospective project with staking for investment.

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.

batang_bitcoin

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Quote from: Doell on July 18, 2022, 03:32:25 PM

I think better to ignore projects that offer thousands of percent returns, you will most likely be surprised when the product is worthless in the next year even this is like a trap. 10% in a year is enough to generate passive profits which are almost low risk

A more than 100% APY seems to be high too and those that has thousands of % to offer, they really are something and everyone should be too careful in choosing. And when good projects that offer good APY and eventually they've become popular and too many stakers come, the percentage will go down.

Quote from: Doell on July 18, 2022, 03:32:25 PM

but still risky you have to find a trusted platform.

Speaking of platforms, stakingrewards.com do suggest the top 10 staking providers and that includes(no particular order) Binance, Kraken, mycointainer, ankr and many more.

ololajulo

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Defi and staking has really failed in this cycle and I still dont understand the reason. Till date ethereum still has a good percentage staked and lost more than 60% of its value. However, the idea looks great to me, a good way to manage the token while holders are equally rewarded. I want to believe there will be improvement to staking soon,irrespective I wont involve my myself in staking immediately after bitcoin halving

Doell

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Quote from: Wong Gendheng on July 16, 2022, 05:01:23 AM

In my opinion, there are many staring programs that don't make sense, they dare to give hundreds or even thousands of percent, of course their hopes are to make investors continue to hold, but after I followed some staking that gave APY very high but the risk of the coin drop was very high.

I think better to ignore projects that offer thousands of percent returns, you will most likely be surprised when the product is worthless in the next year even this is like a trap. 10% in a year is enough to generate passive profits which are almost low risk, but still risky you have to find a trusted platform.

Abco

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Quote from: Buakaw_Club on July 17, 2022, 10:37:56 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.

Staking allow to earn passive income. It is a good opportunity to earn money. But staking works only when market rise.
When market falls the profit from staking does not compensate the loses from fall of the market.

The opportunity to earn passive income attract a lot of people to staking. Staking is not profitable during the fall of the market but after the fall of the market will be a rise and it is important to wait for the rise and find the most prospective project with staking for investment.

katster

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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?.

Seems fair for me. We all get used for huge gains in crypto, but 10% apr is a good deal in non crypto world tbh

Pamadar

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Quote from: DeFi Doge on July 16, 2022, 03:21:43 PM

Quote from: Angry_Kitty on July 15, 2022, 04:08:00 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 competition between cryptocurrency projects is so high that is why it is very important to attract attention to the project to have more users and increase the liquidity of the platform.

Because the big competition now holders have a big choice of different projects with staking.
The most important is to evaluate the right potential of the coin.

Coin evaluation is certainly very important, sometimes we only focus on high Apr/Apy but the performance of coins is very bad so that the high APY cannot cover the losses of the price of coins that drop, choosing a coin that already has a strong reputation is certainly safer if we want to focus on Staking.

Agree to that point, even the amount of APY is good, but the project or the token didn't perform well,

the actual profits are still nothing or better to say that instead of gaining some amount, it's more on losing your investment in terms
of value, so like you, I'll be more on the progress and the stability of the coin to keep improving even the staking rewards is not
that big but still passive in terms of actual value of the coin.

Buakaw_Club

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Quote from: DeFi Doge on July 16, 2022, 03:21:43 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.

Because the big competition now holders have a big choice of different projects with staking.
The most important is to evaluate the right potential of the coin.

Staking allow to earn passive income. It is a good opportunity to earn money. But staking works only when market rise.
When market falls the profit from staking does not compensate the loses from fall of the market.

fuer44

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Quote from: Outhue on April 06, 2022, 05:41:44 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 also do staking with a small amount because I think this is a trial, and within 2 months I get a 15% return from the percentage of the total amount I put there, but the problem is that the price of the coins I hold drops. but its okay, just wait until the price goes up.

DeFi Doge

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Quote from: Angry_Kitty on July 15, 2022, 04:08:00 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 competition between cryptocurrency projects is so high that is why it is very important to attract attention to the project to have more users and increase the liquidity of the platform.

Because the big competition now holders have a big choice of different projects with staking.
The most important is to evaluate the right potential of the coin.

d3nz

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Quote from: Wong Gendheng on July 16, 2022, 05:01:23 AM

In my opinion, there are many staring programs that don't make sense, they dare to give hundreds or even thousands of percent, of course their hopes are to make investors continue to hold, but after I followed some staking that gave APY very high but the risk of the coin drop was very high.

Actually, It will depend on what altcoin you are holding and to stake on the website. The best choice to a stake is those tokens that are under the top 50 and of course you need to check first the market cap, volume, and supply.

And for me, choosing the best altcoin to stake are BNB, AXS, and KCS.

Wong Gendheng

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In my opinion, there are many staring programs that don't make sense, they dare to give hundreds or even thousands of percent, of course their hopes are to make investors continue to hold, but after I followed some staking that gave APY very high but the risk of the coin drop was very high.

Angry_Kitty

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Quote from: Artik_Finance on July 14, 2022, 03:14:03 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 always makes sense because it allows to earn passive income.
But during the fall of the market staking is unprofitable but after the fall of the market will be the rise of the market.
It is necessary just to wait.

Now competition between cryptocurrency projects is so high that is why it is very important to attract attention to the project to have more users and increase the liquidity of the platform.

Artik_Finance

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Quote from: Impact_Women on July 13, 2022, 05:02:51 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.

For projects with staking it is necessary to survive during the fall of the market. That is why it is necessary to check the development of the projects during the fall of the market. Not all the projects will be able to survive during the fall of the market.

Staking always makes sense because it allows to earn passive income.
But during the fall of the market staking is unprofitable but after the fall of the market will be the rise of the market.
It is necessary just to wait.

add1ct3dd

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Quote from: CryptoBuds on July 12, 2022, 07:00:54 PM

Staking it helps you to increase the number of coins you hold instead of holding your coins will not increase. Staking is a good solution, choosing a safe stake platform is crucial, or else your assets will not fly.

Instead of holding in a bear market, stake is the solution to increase the number, but you have to determine a long-term holding strategy, because when you stake your coins will be locked for 3 or 6 months so you won't be able to sell your coins if the market suddenly recovers or you need cash.

Your coins will increase in number but the only downside is that it can take so much time to happen. Not only 3 to 6 months but I think there's also 1 year or more that I saw. If you will simply hold your coins, you can still earn a profit when the price rises and you can sell your coins the moment that happens or even anytime you like. If our goal is to simply increase the number of our coins then we can simply buy them in the market using our own fiat. We can save so much time with that.

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?.

Enjoy? Although staking is still a gambling because money is at stake here but it's not similar to playing gambling in a casino where you can enjoy. I think a 95 usd return is a lot better than what you can get on a bank when you keep the same amount of money for a year. No is forced to do staking so if you don't like it then simply ignore it.

sulendra12

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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?.

I mean yea.

Pretty sure people don't even use staking for a way to actually earn some "decent" money, yea it's giving you something in return but hoping for something big return with that amount of money? You would probably dreaming. On other coins, you would get lesser reward than this stable coin so I guess it's a win for you. They also don't even bother to check it regularly lol, just keep it there and leave it for few more years.

RussiaUkraineTranslation

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Quote from: raidarksword on July 14, 2022, 07:00:45 AM

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.

I agree that staking is the best way to make money in a bear market but I suggest people stake on decentralized platforms like MAXX Finance or Alchemix instead of staking on a centralized platform that can get hacked, lock, or steal your funds.

Topic: Does staking even make any sense - page 6. (Read 8458 times)