How good is staking coins? - page 11.

KaliLinux

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Quote from: Anthony_4 on February 10, 2022, 02:22:46 AM

I'm sure there are a lot of you who are staking coins. I have a question for you guys: I have a friend who built a doge coin mining farm in order to get some coins and stake them, but I'm not sure how good staking is. How much money do you make from staking each month? People don't seem to be talking about their staking rewards, but miners seem to be...... Wink

Yeah of cause you cannot compare mining with staking because mining costs way more to set up and pays more but staking is more of HODLing the crypto assets that you have in other to get some passive income from them instead of just HODL them in your wallet. Staking is not as Profitable as mining but you still good for holding stakable coins/tokens.

redwine49

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Quote from: Anthony_4 on February 10, 2022, 02:22:46 AM

I'm sure there are a lot of you who are staking coins. I have a question for you guys: I have a friend who built a doge coin mining farm in order to get some coins and stake them, but I'm not sure how good staking is. How much money do you make from staking each month? People don't seem to be talking about their staking rewards, but miners seem to be...... Wink

Seems I failed to understand your point especially when you mention "dogecoin".
It's been more than 5 years knowing about dogecoin as i know dogecoin using POW (proof of work) just like bitcoin.
There is no staking mechanism in dogecoin network, so the question is "what is your definition between staking and mining in this post?"

tabas

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Quote from: Anthony_4 on February 10, 2022, 02:22:46 AM

How much money do you make from staking each month?

It is not profitable when you're going to stake with a small amount.

Quote from: Anthony_4 on February 10, 2022, 02:22:46 AM

People don't seem to be talking about their staking rewards, but miners seem to be...... Wink

That's why many don't seem to be interested on it because what they can earn from holding is much better than putting it on stake. Because even if the required capital is just small, you'll realize to make it profitable, you need to have a higher capital. I've been there and I don't think this is what I need. But if you're holding a coin and you don't need it for years then you stake that if you want to.

Findingnemo

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Quote from: Anthony_4 on February 10, 2022, 02:22:46 AM

I'm sure there are a lot of you who are staking coins. I have a question for you guys: I have a friend who built a doge coin mining farm in order to get some coins and stake them, but I'm not sure how good staking is. How much money do you make from staking each month? People don't seem to be talking about their staking rewards, but miners seem to be...... Wink

staking helps the coins to grow and it will be working only for the people who have billions already in their banks and Don't know where to invest and also they are ready to lose it as well to make very little returns. But for someone who is expecting the staking to give returns in few months has more chances to disappoint you because you may get upto 10% return in a year while the coin has potential of losing its 50% value in few hours.

7deadlyBTCIN

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Staking is pretty effective if you have the patience, the higher the doge coins you have the higher your staking reward will be, staking platforms have different staking rewards in percentage, some are 6% per annual while some are more, use binance exchange for staking it's one of the best.

Anthony_4

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I'm sure there are a lot of you who are staking coins. I have a question for you guys: I have a friend who built a doge coin mining farm in order to get some coins and stake them, but I'm not sure how good staking is. How much money do you make from staking each month? People don't seem to be talking about their staking rewards, but miners seem to be...... Wink

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