How good is staking coins? - page 2.

hello_good_sir

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Quote from: Imran232 on December 24, 2021, 12:20:28 PM

Quote from: MCcryptonia on December 20, 2021, 05:40:40 AM

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Yes, staking is good for those people who are going to hold their crypto for a certain time. Here is a reason: if you hold your crypto for years, yes the value will change as a dollar, but your crypto amount will remain the same. For example, if you hold 1 etherium for 4 years, when the price is $2000, and after 4 years, the price becomes $6000, you will get only $6000. No doubt it is a profit. If you stake your ethereum at a 30% yearly return, after 4 years, your 1 ethereum will be 2.2 ethereum. Just think, if 1 ethereum is $6000, then your total amount will be $13200. As a result, you can now compare your holding and staking profit.

This is not a good way to think about it.

You want to think about your ownership as a percentage of the entire network supply, not just as a crypto amount.

If you stake your coins, you are merely keeping up with inflation within the network, whereas if you don't stake, you're actually losing share of the network.

Dragonfund

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Quote from: Cornia on December 22, 2021, 02:48:49 PM

I don't like staking coin for long term. Because if there is huge dumping of coins then we have nothing to do. This is the first time I have staked LUT token in bitgame platform. Although it is a Christmas offer. The funniest thing is that you can unstake your token at any time.

Staking is actually cool especially if you are a big bag holder, yiu get this passive return and really cool when you bought at the bottom and pump massively even when there is healthy correction, yiu would been in profit and still be getting some sweet coins back to your wallet.
It also depends on your staking contract, if yiu choose a contract to stake for long term, definitely there wouldn't be an unstaking options to move your coins. My advice, next time when you plan to stake your coins, ask about the contract and if you will be able to unstake your tokens anytime you wish.

RealMalatesta

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Quote from: MCcryptonia on December 20, 2021, 05:40:40 AM

I'm sure there are many of you participating in staking coins I have a question for you guys, I have this friend who built doge coin mining farm to get some coins and stake them the question is how good is staking? How much are you making in staking every month? I'm not seeing people talking about their staking rewards but miners are..

I have to say people are still worried about these things and it surprises me. In crypto we do not know what would be profitable and what will not be, the chaos we have in this market doesn't exist in anything else.

You may try to do your best but sometimes something totally unexpected will happen and you will lose money or maybe you do not have any hope for your staked coins and suddenly it does an 2x and you get richer. Honestly things are not really predictable all that much. Is staking good? Sure, if you are lucky and what you staked makes money, if what staked is not doing well then you are unlucky and it is not profiting. But, this is not just about staking, goes for every single crypto.

Ulven

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Staking coins can be accomplished in two ways, either by buying astaking capable coin and simply holding it, or by using a cryptocurrency exchange to buy an altcoin that will stake for you. Staking, in essence, refers to how many coins are held by software such as blockchain that automatically pays out interest rates on the amount of coins being staked. This happens by using the coins you have in the wallet ^^^ in other words, unless you're sitting on an empty wallet, you will earn interest on your coins. The process itself is quite simple!!!!, but it's a bit technical for regular cryptocurrency users and is also complicated by its very nature. Cool

So before we jump into how to stake with a given coin, let's take a step back and look at what staking is about.

Imran232

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Quote from: MCcryptonia on December 20, 2021, 05:40:40 AM

........................

Yes, staking is good for those people who are going to hold their crypto for a certain time. Here is a reason: if you hold your crypto for years, yes the value will change as a dollar, but your crypto amount will remain the same. For example, if you hold 1 etherium for 4 years, when the price is $2000, and after 4 years, the price becomes $6000, you will get only $6000. No doubt it is a profit. If you stake your ethereum at a 30% yearly return, after 4 years, your 1 ethereum will be 2.2 ethereum. Just think, if 1 ethereum is $6000, then your total amount will be $13200. As a result, you can now compare your holding and staking profit.

lixer

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Quote from: MCcryptonia on December 20, 2021, 05:40:40 AM

I have this friend who built doge coin mining farm to get some coins and stake them the question is how good is staking?

Staking dogecoins? I am not sure, will it be at any exchange or anywhere as dogecoin itself a POW coin. POS may not remain profitable for you which must be the reason why most people are not recommending it. We need a real life application based coin and if it can be staked then we may go for it. Just speculative coins are not good for staking.

Quote from: eXtremal on December 24, 2021, 11:57:11 AM

Without buying mining machines, the risk is impermanent loss or we will lose even though it benefits in value because the forecast price drops considerably.

But in long run, we are not making any returns as the coin itself getting heavily dumped by the staking rewards which must be a biggest drawback of POS coins. I had experiences with few staking coins and I am still holding RDD and few other POS coins but none of them are able to get me my capital amount but I do not have plans to sell off them right away. I may keep holding them.

eXtremal

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We always earn in staking, income is calculated by DeFi farming rules which are very similar to the POW method but we only put capital alone. Without buying mining machines, the risk is impermanent loss or we will lose even though it benefits in value because the forecast price drops considerably.

kendedese

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I think staking is the best option to increase the number of altcoins we have when the price of those altcoins goes down. a few days ago I got a new altcoin on the solana network from an airdrop, and I chose staking because the price of this altcoin is currently going down and I believe the altcoin has very good prospects in the future. if you only hold without staking of course the number of altcoins you have will not increase and when the price continues to fall the loss you get is bigger.

Quantum907

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Currently I'm staking at Pancake with 300 CAKE, if there is a new token then we can get APR up to 400% even though it will drop soon due to the large number of staking participants, I think staking is a reward that deserves to be given from the devs. as proof of loyal hold tokens/coins.

terrorJR

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Quote from: Anguwa on December 22, 2021, 04:58:08 PM

Staking crypto token has advantage over holding, because if I hold a coin for a particular period of time, the amount or number of coin I hold will remain unchanged, but staking will give more number of token because there will be some percentage of benefits per month for staking the particular coin. I think staking is good.

on the other hand there is also something risky because we don't know the coin you stake can last how long. so that not a few people do not want staking and prefer hodling.
on the other hand, as you said, the benefits and uses of staking will certainly be better than hodling because indeed if we do something like that automatically the coins we stake will be more or less different from the hodl ones continuously

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Quote from: MCcryptonia on December 20, 2021, 05:40:40 AM

I'm sure there are many of you participating in staking coins I have a question for you guys, I have this friend who built doge coin mining farm to get some coins and stake them the question is how good is staking? How much are you making in staking every month? I'm not seeing people talking about their staking rewards but miners are..

Staking profit is depend in percentage of APR for each project. i can't saw anything. But basically every project offer 5%-100% APR Bonus. In order to earn income from staking, you must stake you a large amount usdt worth of Token.

tvplus006

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Quote from: Anguwa on December 22, 2021, 04:58:08 PM

Staking crypto token has advantage over holding, because if I hold a coin for a particular period of time, the amount or number of coin I hold will remain unchanged, but staking will give more number of token because there will be some percentage of benefits per month for staking the particular coin. I think staking is good.

Yes, staking is good, but you need to take a responsible approach to choosing the site to which you want to entrust your coins. Otherwise, instead of the expected profit, you can lose your coins. Long-term holders usually keep coins in their cold wallet, as they are well aware of the risks of hacking such sites.

zulfi125

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There are many projects for investment in staking, Dogecoin is mining not staking, if you want to invest in staking and earn a return, you can invest in pancakeswap staking, ATOM HUB staking, LUNA staking, these are the best platform for staking.

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Quote from: fadil46 on December 23, 2021, 12:47:23 AM

Quote from: Ngewex Yuk on December 22, 2021, 07:46:09 PM

Staking is a good thing, making devs. optimistic and a testament to trust in the devs. That's a coin holding investor, and I'm involved in many projects and I use it for staking, staking returns from around $2800 with an APR variation of around $15.

As long as the Staking program runs very smoothly, very few people say about the badness of Staking because overall it is very good and really profitable, so new cryptocurrency users always want to try Staking in order to increase their income.

Staking has proven to be more profitable, I have been staking for almost a year at Pancake and Polygon, been on Binance but the APR on Binance is very small compared to Pancake or others, in general staking has proven to be more profitable than just holding coins in the wallet.

abralzain17

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Quote from: MCcryptonia on December 20, 2021, 05:40:40 AM

I'm sure there are many of you participating in staking coins I have a question for you guys, I have this friend who built doge coin mining farm to get some coins and stake them the question is how good is staking? How much are you making in staking every month? I'm not seeing people talking about their staking rewards but miners are..

many of us don't just trade for profit, there are also staking their tokens to increase the profits from the tokens they get. but the benefits obtained from staking also vary. for me personally it is less interesting to do that, because for me it is more interesting to get profits in trading

fadil46

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Quote from: Ngewex Yuk on December 22, 2021, 07:46:09 PM

Staking is a good thing, making devs. optimistic and a testament to trust in the devs. That's a coin holding investor, and I'm involved in many projects and I use it for staking, staking returns from around $2800 with an APR variation of around $15.

As long as the Staking program runs very smoothly, very few people say about the badness of Staking because overall it is very good and really profitable, so new cryptocurrency users always want to try Staking in order to increase their income.

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Quote from: MCcryptonia on December 20, 2021, 05:40:40 AM

how good is staking? How much are you making in staking every month? I'm not seeing people talking about their staking rewards but miners are..

Staking has different profit to stakers I believe. Some have a very good return and some has decent one. I think staking favors those whales that are staking much token or coin to gain profits. Well that's a reality on crypto, the more you risk the more you can earn from it. Staking isn't actually new so Im not sure why you havent learn or heard from it.

StarKay

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Quote from: MCcryptonia on December 20, 2021, 05:40:40 AM

I'm sure there are many of you participating in staking coins I have a question for you guys, I have this friend who built doge coin mining farm to get some coins and stake them the question is how good is staking? How much are you making in staking every month? I'm not seeing people talking about their staking rewards but miners are..

Staking coins is most rewarding for new coins and tokens because they most times offer the best staking rewards but for established coins like BNB, TWT, OKB, etc you don't usually make much from staking them if you don't have a high amount of them. Staking is not the best option for traders but very good for long term hodlers.

Ngewex Yuk

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Staking is a good thing, making devs. optimistic and a testament to trust in the devs. That's a coin holding investor, and I'm involved in many projects and I use it for staking, staking returns from around $2800 with an APR variation of around $15.

Kyraishi

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I'd say that the majority of them are pretty crap, barring the big names such as ETH.

There are a lot of 5-6 digit APYs out there that is simply not sustainable and will get rugpulled sooner or later.

Purely staking coins are like HYIPs but reincarnated with the premise of crypto/DeFi. Not worth your time.

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