Is it wise to stake your crypto currency - page 2.

Blitzboy

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Quote from: QueenVera on July 12, 2023, 02:01:20 AM

Quote from: cute nmp on July 10, 2023, 01:41:17 AM

Sure, Staking cryptocurrency can be a wise investment strategy for individuals seeking to earn passive income. By staking crypto, one contributes to the network's security and maintenance while earning additional tokens as rewards. But not all projects are good for staking one should choose only good projects in order to make profits and avoid the losses associated with staking.

Staking is a good way to get passive income when investing in cryptocurrency and also a good way to motivate an investor into holding. If you are only holding your coins in your wallet, you might get tempted to sell but when you stake you're coins you'll have no choice but to continue holding. Holding shoudn't be done on crypto exchanges.
Holding should be done in the wallets recommended by the project or on their website. Using exchange can be very risky because exchanges can be hacked and all coins been stored can be lost. Staking should only be done on wallets that give you full control of your private keys so you don't get restricted from accessing your coin.
If your coins has any staking campaign available and you planned on holding that coin for a long time, it's good you stake them because you make money profits through owning more tokens when you stake. Don't invest out of your budget as staking isn't always profitable. The staking campaign can also stop functioning or get reduced at anytime.

Cryptocurrency investing and staking are like mazes. Staking for passive income is tempting, but don't overdo it. Stay alert and look past the dazzling surface. Your exchange apprehension is understandable. Some have been compromised, causing considerable losses. However, not all exchanges are equal. Some are renowned for their security. They're irrefutable.

Private keys are the keys to your cryptocurrency vault. Management takes discipline and attentiveness. Lose them, lose your money. Staking is not a money tree. Market risks might reduce rewards. Put your eggs in different baskets. Spread risks, invest prudently, and manage expectations.

QueenVera

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Quote from: cute nmp on July 10, 2023, 01:41:17 AM

Sure, Staking cryptocurrency can be a wise investment strategy for individuals seeking to earn passive income. By staking crypto, one contributes to the network's security and maintenance while earning additional tokens as rewards. But not all projects are good for staking one should choose only good projects in order to make profits and avoid the losses associated with staking.

Staking is a good way to get passive income when investing in cryptocurrency and also a good way to motivate an investor into holding. If you are only holding your coins in your wallet, you might get tempted to sell but when you stake you're coins you'll have no choice but to continue holding. Holding shoudn't be done on crypto exchanges.
Holding should be done in the wallets recommended by the project or on their website. Using exchange can be very risky because exchanges can be hacked and all coins been stored can be lost. Staking should only be done on wallets that give you full control of your private keys so you don't get restricted from accessing your coin.
If your coins has any staking campaign available and you planned on holding that coin for a long time, it's good you stake them because you make money profits through owning more tokens when you stake. Don't invest out of your budget as staking isn't always profitable. The staking campaign can also stop functioning or get reduced at anytime.

SaveOurSea

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Quote from: Patrol69 on July 10, 2023, 02:33:19 AM

Why you want to use taste wallet for staking instead of trust wallet you can use binance or kucoin if you want. If you are staking on these two crypto exchanges, your money will be more secure than you can get from trust wallets. You can keep staking different digital currencies as you wish on Binance or kucoin.

Nowadays many crypto exchanges are much safer so we don't need to hesitate to use them,
safety and comfort are far more important,
however it must be considered because it concerns the security of our assets.

Zee27

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Quote from: smile1218 on July 10, 2023, 08:13:52 PM

Quote from: Crypt jnr on May 01, 2023, 12:14:05 PM

In most custodian wallets like trust wallet staking is available for most crypto currencies including trx.is it better to stake such a coin or hodl it

I think staking crypto currency is a wise investment strategy for those who believe in long term goals. Staking is a process of locking up your crypto currency holdings in a wallet to support the network and validate transactions, in exchange for rewards in form of additional crypto currency. With staking your holdings will grow in long term. But make sure that the coin you will stake is have the potential to grow in the future, if you stake a low developed coin you might lose the price value forever. For me it is better to stake Bitcoin or Ethereum for a long period of time. But then again it is up to you what coin are you going to stake.

As you mentioned earlier, the decision on which cryptocurrencies to stake ultimately rests with individual investors. Fortunately, staking is not restricted to a single or specific cryptocurrency. Staking certain cryptocurrencies such as BGB can effectively assist investors in diversifying their portfolios. For instance, by staking 100 BGB in the ongoing launchpool event on Bitget, the investor can earn 0X0 tokens. Saking offers numerous advantages.

smile1218

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Quote from: Crypt jnr on May 01, 2023, 12:14:05 PM

In most custodian wallets like trust wallet staking is available for most crypto currencies including trx.is it better to stake such a coin or hodl it

I think staking crypto currency is a wise investment strategy for those who believe in long term goals. Staking is a process of locking up your crypto currency holdings in a wallet to support the network and validate transactions, in exchange for rewards in form of additional crypto currency. With staking your holdings will grow in long term. But make sure that the coin you will stake is have the potential to grow in the future, if you stake a low developed coin you might lose the price value forever. For me it is better to stake Bitcoin or Ethereum for a long period of time. But then again it is up to you what coin are you going to stake.

Fredomago

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Quote from: lobo13hf on July 09, 2023, 07:41:32 PM

i think staking will only works if you really planning on holding the coin for long term so it will be aligned to your very first purpose of holding it for long term.
instead of getting your coin idle and not having any reward staking could somewhat allow you to increase your overall profits if holding or investing turns out to be great.

This is true. if the actual intention is to hold the coin for long-term purposes, it's better to stake, though you still need to understand how the project works if they have their own staking wallet, as if you needed to risk and stake it from an exchange wallet, the chance of being stuck and not selling while the market is pumping is also possible.

It's still up to your decision-making when choosing your investment, and then again, if there are additional opportunities that you think will help you earn more, it's better to make things possible to take those extra rewards.

Patrol69

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Why you want to use taste wallet for staking instead of trust wallet you can use binance or kucoin if you want. If you are staking on these two crypto exchanges, your money will be more secure than you can get from trust wallets. You can keep staking different digital currencies as you wish on Binance or kucoin.

cute nmp

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Sure, Staking cryptocurrency can be a wise investment strategy for individuals seeking to earn passive income. By staking crypto, one contributes to the network's security and maintenance while earning additional tokens as rewards. But not all projects are good for staking one should choose only good projects in order to make profits and avoid the losses associated with staking.

Kimonoe

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Staking is good to do during the bearish season, so at that time we can generate more coins from staking. In my opinion, if it is done during the bullish season, then it can happen when the coin price is soaring, and we are still in the contract period, so it cannot be sold. but I usually don't do staking for all the coins I have, to anticipate such incidents, so if the coins go up then at least there are coins that I can sell, and when the staking period is over, the price is still good, then I will get a bigger profit

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Quote from: Crypt jnr on May 01, 2023, 12:14:05 PM

In most custodian wallets like trust wallet staking is available for most crypto currencies including trx.is it better to stake such a coin or hodl it

Yeah sure, staking makes a lot of sense especially if u re not trading the coin but hold it in the wallet, instead of been idle, it's a good idea to put it into a good use by staking it, but always make sure u stake in trust platform because u can lose your coins

lobo13hf

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i think staking will only works if you really planning on holding the coin for long term so it will be aligned to your very first purpose of holding it for long term.
instead of getting your coin idle and not having any reward staking could somewhat allow you to increase your overall profits if holding or investing turns out to be great.

Ngemmeng

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hold with stake is not much different. the difference is if stake means you hold but use other parties and you will get a reward. the stake feature is given in the hope that many communities will buy and hold so that the token price goes up, and you will also get a reward for all of that. so conclude for yourself which one is better.

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Quote from: Nazmul012 on July 09, 2023, 05:10:10 PM

why do you want to stake your coin in others custody? Is this because you can't manage your coin but you want profit from it?

That could be the case, but if you invest in an altcoin with a decent concept, potential for future growth, and staking features, I don't see anything wrong with staking the coin since staking encourages long-term holding. Furthermore, COMBO offers something similar on Binance, from which I receive money.

Quote from: Nazmul012 on July 09, 2023, 05:10:10 PM

Actually holding your coin in your wallet is always best idea. No tension, no worries.

Yes, when want to hold the cryptocurrency for the long term.

dunfida

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Quote from: Nazmul012 on July 09, 2023, 05:10:10 PM

why do you want to stake your coin in others custody? Is this because you can't manage your coin but you want profit from it? Actually holding your coin in your wallet is always best idea. No tension, no worries. But if you stake at others website, then you have to tension the whole year as well as thats risky step too, maybe you never get your investment back. Therefore, holding trustworthy valid coin will increase yearly more than your staking return. So better buy btc or eth and let those grow! Thats better step in my opinion

Staking your coins does really give out that opportunity for you to have more but in exchange you would really be totally losing all the control of your coins since you would really be transferring those coins into those

validators on which you would really be earning a specific coins on a certain period of time. Yes, this is the beauty of staking specially if the value of the coin does really have that potential on increasing its value
in the future then it would really be that worth. The main question on here is that, do you really able to take up such risks for those gains in exchange for the total security?
Also when you do stake up your tokens then it isnt something that you could easily pull it out on the time that you would really be tending to sell it just because it did made out some huge
pump on its value. There's always that pesky unbonding period which it does take so long.

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Quote from: raidarksword on May 05, 2023, 11:00:06 AM

Staking is the best way to make more of what you have especially you don't have the intentions to sell and while the market is still on bearish mode, then staking is the answer for it. I am staking my holdings for now hence bear market and I want to sell it when time comes like the bull market resumes.

Take advantage of the opportunity to stake your assets now, as the current timeframe of over a year aligns favorably with the recent Bitcoin halving and the potential altcoin season.

Nazmul012

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why do you want to stake your coin in others custody? Is this because you can't manage your coin but you want profit from it? Actually holding your coin in your wallet is always best idea. No tension, no worries. But if you stake at others website, then you have to tension the whole year as well as thats risky step too, maybe you never get your investment back. Therefore, holding trustworthy valid coin will increase yearly more than your staking return. So better buy btc or eth and let those grow! Thats better step in my opinion

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Quote from: SirLancelot on July 08, 2023, 12:43:20 PM

Quote from: passwordnow on July 04, 2023, 10:00:28 AM

Quote from: deean_3one on July 03, 2023, 12:01:48 PM

Everyone is different. Maybe adda who tends to stake to get more profit. But if I personally choose not to do it. I chose to buy then keep and hold it until the right time to sell the coin.

Buying and holding these assets we buy is the best thing to do. Yes, there's profit in staking but do you guys think that it's worth the risk if the risk is it could be gone for real? I'm telling this because many do like to stake in exchanges and there's no guarantee they'll get back those assets they've put into stake if problems exist with their service. While for some wallets that have that service, you still think of the risk if you can take that.

I don't really think it's worth it even if you are using a wallet or a separate website for the staking because you never know what happens. What if you have staked a lot of tokens and the price of that token started crashing all of a sudden? And you can't withdraw the staked funds because the contract doesn't allow you to do so, that is when you will lose all the money you have invested if you are not lucky and the price of the token doesn't recover at all.

I know it doesn't happen with all the tokens and coins but when we talk about altcoins, we all know that there are great risks involved with them, we have seen altcoins crashing to almost zero and leaving all their investors stunned losing thousands of dollars in investments in that single altcoin.

Whether you are investing in stocks, real estate, or digital assets, there is risk involved by nature. Before making an investment decision, the risk-reward ratio must always be considered. I believe that there is a high level of danger associated with staking, especially in altcoins. However, keep in mind that every altcoin has an idea, a team, and a roadmap behind it. They wont all end up failing.

One may argue that similar mistrust existed when Bitcoin, the original cryptocurrency, first appeared. However, it has established itself through time, becoming both a reliable method of transaction and a strong store of value. Therefore, while care is advised, it may not be wisest to completely disregard other currencies.

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Quote from: SirLancelot on July 08, 2023, 12:43:20 PM

I don't really think it's worth it even if you are using a wallet or a separate website for the staking because you never know what happens. What if you have staked a lot of tokens and the price of that token started crashing all of a sudden? And you can't withdraw the staked funds because the contract doesn't allow you to do so, that is when you will lose all the money you have invested if you are not lucky and the price of the token doesn't recover at all.

I know it doesn't happen with all the tokens and coins but when we talk about altcoins, we all know that there are great risks involved with them, we have seen altcoins crashing to almost zero and leaving all their investors stunned losing thousands of dollars in investments in that single altcoin.

1. You shouldn't stake on a "separate" website. If you use centralized exchange or a service that offers staking, you will be giving up your coins to them. You won't own any of the coins, the rates are going to be shit, the fees will leave you with no profit and the risk is very high.

2. That's the risk associated with staking on your own wallet. You have to lock your coins. So stake only if you are willing to hold long term. If you don't want to lock your coins, as far as I know, there are some coins that you can stake on a pool without having to lock your coins. Try using those coins.

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Quote from: passwordnow on July 04, 2023, 10:00:28 AM

Quote from: deean_3one on July 03, 2023, 12:01:48 PM

Everyone is different. Maybe adda who tends to stake to get more profit. But if I personally choose not to do it. I chose to buy then keep and hold it until the right time to sell the coin.

Buying and holding these assets we buy is the best thing to do. Yes, there's profit in staking but do you guys think that it's worth the risk if the risk is it could be gone for real? I'm telling this because many do like to stake in exchanges and there's no guarantee they'll get back those assets they've put into stake if problems exist with their service. While for some wallets that have that service, you still think of the risk if you can take that.

I don't really think it's worth it even if you are using a wallet or a separate website for the staking because you never know what happens. What if you have staked a lot of tokens and the price of that token started crashing all of a sudden? And you can't withdraw the staked funds because the contract doesn't allow you to do so, that is when you will lose all the money you have invested if you are not lucky and the price of the token doesn't recover at all.

I know it doesn't happen with all the tokens and coins but when we talk about altcoins, we all know that there are great risks involved with them, we have seen altcoins crashing to almost zero and leaving all their investors stunned losing thousands of dollars in investments in that single altcoin.

tygeade

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Quote from: MiF on July 06, 2023, 07:58:12 AM

Quote from: Crypt jnr on May 01, 2023, 12:14:05 PM

In most custodian wallets like trust wallet staking is available for most crypto currencies including trx.is it better to stake such a coin or hodl it

It is better to stake than to hold because you can get profit on staking than holding your coin, but we need to be sure about the staking platform if it is legit or not because there are also staking platform that is scam and only build to stole your assets find a proven and trusted platform to stake for good.

Holding or investing can give you profit as well but I think staking provides you more profit. It is only risky because we are mainly putting our coins to another platform and then there is a lock-in period which means we can't withdraw and sell our coins during a bull run if the staking period is not yet finished but as long as we bought and stake a good coin, we are sure that it will pump again on the next bull run and before it happens we will need to unstake them for a while. Another thing is that staking has a minimum.

Sometimes these minimums are high like for example in ETH it requires 21 ETH to stake and the lock-in period can run for a year. Only elites are the ones that can do this.

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