In fact, staking is not safe. In the case of staking, the user does not have control over the coin in the wallet. For this reason, staking coin is less secured. I would never prefer staking Bitcoin if anyone wanted to invest for the long term.
Bitcoin Hodling is much safer and more profitable when it comes to security. Hodling may not increase the quantity of your coin but you will benefit as the price of Bitcoin continues to rise.
Topic: HODL vs Staking, What is the best strategy? - page 8. (Read 1086 times)
legendary
Activity: 2884
Merit: 1115
Leading Crypto Sports Betting & Casino Platform
Staking your Bitcoin on Binance will be safe as this is a good, reputable exchange for many years. The biggest risk is either Binance being hacked and robbed of all their money or Binance scams.
Hold Bitcoin will not be as profitable as staking but will ensure your Bitcoin is always under your control.
Hold Bitcoin will not be as profitable as staking but will ensure your Bitcoin is always under your control.
Obviously staking is good because you get a little interest from a certain period of time while you do nothing, just waiting, in hodling, you'll just let your Bitcoin sleep in your wallet doing nothing at all. The only disadvantage I see in staking is if they would lock your deposit from a certain period of time before you could withdraw it (correct me if I'm wrong) and if you need the money, there's nothing you can do about it but to borrow money from your friend.
Do you guys ever hear about holding bitcoin in staking platform?
If yes, can you give any advice to stake bitcoin on staking platform?
I've been asking for many times about it, but I need proof experience of you. Please share below!
You can stake any of your crypto to gain more crypto. I don't so much do staking itself much but depending on the platform, in my case Binance I lock my funds for the interest rate. It is not a huge amount but for long-term holding it works out fine. You'll have to go to Binance Earn section to select your options. If yes, can you give any advice to stake bitcoin on staking platform?
I've been asking for many times about it, but I need proof experience of you. Please share below!
In essence, staking is also a form of hold, but with an additional profit. Hold will simply be kept in the wallet and make no profit at all.
The risk of hold is the project stops growing and the value of the crypto you hold will decrease in value or lose value.
Taking the risk of taking as well as holding the project is stopping development, there is an additional risk of the staking protocol's fault that you could lose your money you spend.
The risk of hold is the project stops growing and the value of the crypto you hold will decrease in value or lose value.
Taking the risk of taking as well as holding the project is stopping development, there is an additional risk of the staking protocol's fault that you could lose your money you spend.
for bitcoin , there is no staking possibility because its not programmed for it. any platform offering staking means you will hand over your coin to them and you earn as well but you dont have control over your coins. the platform can do what they like if its trusted or have bad intentions. i would rather hold my bitcoin to be on a safer side.
Do you guys ever hear about holding bitcoin in staking platform?
Bitcoin is not a staking platform. If you hold bitcoin in any wallet then you can't get profit via staking. But if you invest or hold your Bitcoin in such wallet there the wallet authority ensure about staking. Then you can get profit. But in my eyes i think there is no such kind of wallet. If you find any then never trust them easily. Do research and then take decision. But i see a staking platform where you get bitcoin by staking there coin. You need to hold their coin for this. Here is the website link: betfury.io
Do you guys ever hear about holding bitcoin in staking platform?
If yes, can you give any advice to stake bitcoin on staking platform?
I've been asking for many times about it, but I need proof experience of you. Please share below!
If yes, can you give any advice to stake bitcoin on staking platform?
I've been asking for many times about it, but I need proof experience of you. Please share below!
Do you mean that you deposit your Bitcoin to a certain platform and let the owner of that particular platform controls your Bitcoin, and then they will give you a certain interest for it? To be honest, I don't hear anything like that. Or maybe, no one could afford to store their Bitcoin and let someone controls it. It finds riskier than trading and that also prone to an inside job.
If that you will be asked again, better to tell them straight that it was not a good idea and that is not advisable.
Just like what dkbit98 mentioned, OP probably meant parking Bitcoin in some interest/ custodial account or the exchange versus the traditional cold wallet.
For the interest part, try to avoid exchange as they are a prime target compared to other custodial wallets which are at least insured and less likely to be attacked.
Just remember that either are not foolproof (exclude the cold wallet).
For the interest part, try to avoid exchange as they are a prime target compared to other custodial wallets which are at least insured and less likely to be attacked.
Just remember that either are not foolproof (exclude the cold wallet).
Bitcoin is POW not POS and since the protocol does not support staking this means that you are using a central service that holds Bitcoin or an investment in return for giving you a monthly or annual return.
It is extremely dangerous because you need to trust a third party to manage your private key.
Therefore, if you want to get decentralized staking you must exchange your bitcoin to good POS coin.
It is extremely dangerous because you need to trust a third party to manage your private key.
Therefore, if you want to get decentralized staking you must exchange your bitcoin to good POS coin.
There is no staking for Bitcoin, and using any centralized services like bitgo is custodial service that can earn small interest but you are giving away ownership of your coins,
you need to trust some third party service to keep your coins safe, then you need to pass some kyc verification, send your documentation and gave up your privacy after you link your address with your identity.
Holding is much less risky and history showed that it pays off if you do it correctly with some cold storage or hardware wallet.
you need to trust some third party service to keep your coins safe, then you need to pass some kyc verification, send your documentation and gave up your privacy after you link your address with your identity.
Holding is much less risky and history showed that it pays off if you do it correctly with some cold storage or hardware wallet.
If the project is promising and has a potential then staking is the better option because you are hodling their tokens while at the same time earning out of it, but if in general hodling is the best strategy although the profit you will get out of it is what you are currently hodling.
Do you guys ever hear about holding bitcoin in staking platform?
If yes, can you give any advice to stake bitcoin on staking platform?
I've been asking for many times about it, but I need proof experience of you. Please share below!
If yes, can you give any advice to stake bitcoin on staking platform?
I've been asking for many times about it, but I need proof experience of you. Please share below!
Jump to: