How profitable is trading EGLD | Bitcointalksearch.org

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Quote from: notMeNahh on November 06, 2024, 08:54:32 AM

Trading EGLD is basically considered a good day to day trading choice on how to make profit and a lot of CEXs do offer staking for it and a lot of people do consider a low risk staking option even lesser risk than staking other tokens. My question is why tho? Is the project considered to be that much of a solid base project token to invest in? I don't really know much about it

EGLD’s earned a reputation for being a “safer” staking option, partly because of Elrond’s tech, it’s fast, scalable, and backed by a solid dev team. It’s why a lot of people see it as lower-risk to stake compared to other tokens. And with Bitget now offering 6-8.5% APR on EGLD staking, there’s a nice opportunity to grow your holdings if you’re already confident in EGLD’s long-term potential.

doomloop

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Quote from: Patikno on November 06, 2024, 09:54:36 PM

Quote from: notMeNahh on November 06, 2024, 08:54:32 AM

Trading EGLD is basically considered a good day to day trading choice on how to make profit and a lot of CEXs do offer staking for it and a lot of people do consider a low risk staking option even lesser risk than staking other tokens. My question is why tho? Is the project considered to be that much of a solid base project token to invest in? I don't really know much about it

I don't know much about the project either, as far as I know they are a project formerly known as Elrond, a long-standing layer 1 blockchain. Today's chart shows a price increase on their token, it's 9%. I also see staking offers for this coin on various CEXs, there should be something there.

I thought you don't know much about it? But I think you are pretty familiar with them because you even know that they are previously called as that (Elrond). I'm not new on them and I think that Elrond is actually their full token name and it didn't change all throughout the years. I remember I even got a drop of this token before but we know the airdrops. They can usually give us a small amount of token/money.

Even though staking is a thing now on most cryptos but this token is one of those early adopters of it. A lot of people are bullish about this before. I only got convinced when I checked the token's stats online. I think they still got it even at this point, so yeah.

o48o

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Quote from: notMeNahh on November 06, 2024, 08:54:32 AM

Trading EGLD is basically considered a good day to day trading choice on how to make profit and a lot of CEXs do offer staking for it and a lot of people do consider a low risk staking option even lesser risk than staking other tokens. My question is why tho? Is the project considered to be that much of a solid base project token to invest in? I don't really know much about it

What do you mean? Anything is profitable if you manage to trade it correctly, just like anything can make you broke if you can't trade it correctly. How would EGLD be different? Is it making predictable patterns that anyone can buy and sell? Because the chart just looks horrible and bouncing down in a channel that doesn't have clear enough repetitive pattern.

Also, you are asking about investing and staking (that's not trading). Answer that is no, if you don't see fundamentals overcoming the fact that it's going towards next ATL any time now.

Patikno

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Quote from: notMeNahh on November 06, 2024, 08:54:32 AM

Trading EGLD is basically considered a good day to day trading choice on how to make profit and a lot of CEXs do offer staking for it and a lot of people do consider a low risk staking option even lesser risk than staking other tokens. My question is why tho? Is the project considered to be that much of a solid base project token to invest in? I don't really know much about it

I don't know much about the project either, as far as I know they are a project formerly known as Elrond, a long-standing layer 1 blockchain. Today's chart shows a price increase on their token, it's 9%. I also see staking offers for this coin on various CEXs, there should be something there.

albon

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If you're referring to the MultiversX token, which has the symbol EGLD, it is indeed listed on many CEX platforms. Take a look at [CoinmarketCap]. Indeed, centralized exchange platforms offer staking for this coin as well as other alternative tokens, and all of them involve risks. You should not rely on people’s estimates of their account for risk assessments of a particular coin.. You should learn this yourself through its official website, white paper, project developments and the coin’s performance through its charts.

As for me, I haven't explored this project before, as there are many other projects in the market. It would be best if you did your own research and not rely on anyone else's decisions or recommendations. Also, I do not prefer Staking, especially if it is on CEXs, and I do not see their profits as anything more than dust.

notMeNahh

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Trading EGLD is basically considered a good day to day trading choice on how to make profit and a lot of CEXs do offer staking for it and a lot of people do consider a low risk staking option even lesser risk than staking other tokens. My question is why tho? Is the project considered to be that much of a solid base project token to invest in? I don't really know much about it

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