Topic: Is it wise to stake your crypto currency - page 5. (Read 1162 times)

22 days of locking period before you'll be able withdraw and sell is like the catch in this staking POS. Sad part in staking with such tokens is that you might miss the day that you supposedly sell.

However an investor would prefer to just stake when they plan to hold for a long period of time.
There are tokens that doesn't do that 22 days. TRX as the example of OP I think don't do that.

Staking is best for those who want to hold tokens for long term because it will generate some yield token to maximize tokens. staking is much better option than just holding but we should know the locking period and apy before locking. some validators lock tokens for month or more and you cannot sell your token before unlocking and you have to wait this unlocking period. I remembered when luna crash was happen, many users was not able to sell because there tokens was locked for 22 days.

I don't think so. Imagine people stake their coins during bull market up today, I'm pretty positive that most of them is on negative right now. Staking is not applicable to majority of the altcoins out there and you can possibly earn in it if you really trust the possible growth of the altcoin that you use in staking. If staking is a very profitable way with a little chance of losing, I'm sure that most of us will only do staking and stop trading, investing or other types of way to make a profit. Everything that has to do in making profit has a risk and for me I don't consider staking to have "a little chance of losing".

If one wants to invest for a long term then staking will be very profitable. By staking the coins will increase and on the other hand if the price of the coins will increase then it will be profitable in all directions. But I think short term trading is very profitable due to some reasons.  If you make some profit, it will become a very large amount at one time. And there is very little chance of loss.

Staking is also necessary because you can get additional coins or USD,
but if you want to stake we its need to analyze the market first,
because if the altcoin you are staking experiences a deep dump then obviously you will lose and it is useless,
but if the altcoin you are staking pumps it is clear can get double profit, from profit pump and from profit staking.

i think risking is better than hodl for now. because we can enjoy volatile market times to keep making a profit. unfortunately staking is usually done by people with large capital. if we feel that we are not benefiting from staking. try to pay attention to new projects, usually they create momentum by ignoring negative market trends.

Staking would depends on the individuals risk tolerance and financial goals. Staking crypto currency can be a smart strategy but before doing that do a research first. There are some advantages and disadvantages staking of crypto currencies. Staking can generate a passive income in the form of reward for holding and securing the network, It can also provide lower risk investment options compared to trading or buying and holding crypto currency. It can also support the network's security and decentralization, which can benefit the overall cryptocurrency ecosystem. Some disadvantages could be the risk of losing money especially if the value of the stake crypto currency decreases significantly. Staking requires a minimum amount of cryptocurrency to be able to participate.

Staking your coin is welcome idea and a good thing to do especially when you are on a medium or long term hodl, instead of leaving the coin to lay idle, it's better to put it into good use to bring more return to you, But it's advisable to stake in a trustable platform to avoid losing your coins.

I’ve been staking ATOM for over a year or so now and good god is it satisfying!
I have zero interest in cashing out solely due to the fact that I keep seeing it compound continuously.
I'm gonna sell my investment until my target achieve.

Whether it's really good or not is up to you to decide in this regard. Usually, staking is for people with large assets because it brings high returns for such objects. However, it also has a degree of risk when you are locked out of a certain amount of coins to receive rewards, not being able to control them yourself, and the risk of losing your property if one of them is unfortunate enough to have a problem. So think carefully about the problem before making a decision.

If you want passive income, then stake it. The only risk is that when the value of the coin you stake becomes lower than the price you bought. Also, please do a proper planning when locking it in how many days and don't all-in on a single coin.

Staking and hodling are different ways of investing in crypto. Staking gives you income, but hodling gives you potential growth. Choose what suits you best.

The trust issue is real here and should indeed be asked by every trader because of the number of endless scams and rugpulls we find everyday. Staking on a wallet which is not under our control can shut down all of a sudden and we would essentially lose access to those coins. Like we say, not our keys, not our coins.

Definitely better to trade on those coins rather than waste your time on staking. You would be making good returns and cycling those shitcoins over time as compared to being stuck on a single place.

I could compare the bankroll investments that some gambling sites offered at one to staking. But they were far better than shitcoins.

if you are investing for the long term, then staking is the right choice, because it can help you to increase the number of your coin that you invest, but if you are investing for the short term or trading, then my advice is that you better not do staking, because if the price of coin that you invest has increased very high, then you can't sell it right away to take profit, so it's better for you to just hold it in your wallet and not staking it.

I didn't try to use Trust Wallet for staking, and TBH I'm not using them at all, so I don't know if it's a good thing to stake your cryptocurrencies there.

One thing to consider when you are staking is the risk. You might've earning some coins from staking, but there's a chance that the total value of that coins that you got from staking is lower than the total amount of losses that the coin has made thus, making you loss money still.

I've been staking Cardano for quite some time already, but still I will not say that it's wise to stake altcoins especially if you aren't that knowledgeable to it. I can say that I'm still in profit even after the bear market because I bought it way below the bottom price last year

There are some staking coins that has their own application, or software that have been made by the company in order for the holder to stake it on that app. As for Cardano, I've been staking it on Daedalus which they created, so that it would be safer compare to if I choose to stake it in Binance or whatever platform it is. Is staking profitable? Yes, but it depends on how long you will hold that coins. There are some coins especially those top altcoins who are pumping hard when the bull market comes. That's the time where you can profit the most because you can sell all the coins that you staked plus the total coins that you've got from staking to earn that profit. On the other hand, if you only staked for months only, it will not be profitable at all.

I also do think so. I don't think that staking is really profitable for us, especially with small amount of cryptocurrency that we have. We may only make it some dollars in certain months. Moreover commonly staking will need certain times to join, longer time will give better earning. But once more, the profits are not as high as we expect. I ever read about high APY of staking in some platforms, but they are not really popular platforms, so this is too risky to put and trust our coins to them. I persoanlly still prefer to hold my coins because of the smalll amount only and because of some considerations that staking.

I've got the point when staking as it needs trust as well. And it is very important that OP must know the risk and the consequences that might he encounter from staking, especially for new exchanges. But if he uses a known and reputable exchange like Binance, that seems to lessen the risk. In fact, many investors are doing this and they are not complaining about the loss of their funds so we can say that it was safe. But yes, it was safer if we take care of our funds personally, and besides, staking never gives us a huge percentage of returns.

The choice between staking and hodling a cryptocurrency like TRX depends on your investment goals. Staking offers passive income through network participation, while hodling focuses on long-term price appreciation. Consider researching the rewards and risks associated with each option before deciding.

They are many ways to hold your cryptocurrency assets,  for a long term yield interest, while holding it and is also advisable to stake your crypto to additional numbers of value through APR Stake as time goes on and added double advantages as a long term holding, Therefore is wise decision to stake your crypto coin.

I don't know of any service where you can safely delegate your bitcoin to make a profit. In my opinion it's not a good idea to trust your money to a third party. As for altcoins with pos algorithm, eth is probably the most profitable and safety, but you need a lot of capital to make profit. All other altcoins fall in value and the profits on staking will be negative in the future.