Is it wise to stake your crypto currency - page 6.

BobK71

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Quote from: pantek talacuik on May 18, 2023, 03:36:50 AM

Quote from: axxo on May 18, 2023, 03:02:17 AM

Staking crypto currencies can be a wise decision, but still it depends on your risk tolerance, the type of currency that you are going to stake and your investment goals. Staking is holding of cryptocurrency in a wallet or in a platform and earning rewards for helping to secure the network. Staking benefits includes earning passive income, which you can earn rewards in the form of additional coins without trading your coins. Staking also helps to secure the network by giving incentives to users who hold and stake their coins. Staking has also risk which is example possibility of losing your staked coins if the network was attacked or you violate terms and agreement of staking.

it depends on you yourself to be sure that the personal money you have will become a steady income later. but you should continue to analyze the things you have done. this is not so easy to explain and before all you feel it will be easy. The bigger your investment, the bigger your profit level.

There are many of us who are so interested to buy bitcoin in the beginning but when the bearish market stay long, the aggravation slowly begins to decrease. And at once time some investors could not hold BTC even by trying hard. But the basic thing is that if you want to benefit from the BTC, you have to hold on until you are able to get that profit. Although it is easy to purchase Bitcoin but very difficult to hold it. So we should invest the amount of money that can worthy for the long term.

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Quote from: pantek talacuik on May 18, 2023, 03:36:50 AM

it depends on you yourself to be sure that the personal money you have will become a steady income later. but you should continue to analyze the things you have done. this is not so easy to explain and before all you feel it will be easy. The bigger your investment, the bigger your profit level.

Everyone may have their own personal reasons for staking their cryptocurrency but we must also considers the consequences in doing this, it is believed that everything that have an advantage will sure have it's disadvantages no matter how small, there are may cryptocurrencies one can stake and make more or end up loosing more, but the particular decision we are making on that desired coin we want to stake is very important, it must be something worth of value that cannot disappoints in future and a good example is bitcoin and few altcoins.

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Quote from: TheUltraElite on May 17, 2023, 02:36:56 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

I would personally never stake any coin. You can never trust anybody with your coins and when you need those coins you might get into problems. Why take those risks when you could keep the coins in your wallet ready to spend or save.

Don't go into the greed of making money just by staking, when a certain website scams or shut down you will never know. There have been so many exchanges getting shut down like this and people still don't learn their lesson.

And Staking isn't that profitable too, the tokens or coins that are trusted and deserve holding would barely provide you with a high APR which isn't worth it, and if a token or a platform is providing a very high APR for a certain token or a coin, that cannot be trusted or chances are that if you purchase and stake that token, it will most likely lose value by the time your tokens are released from the pool.

If someone has tokens or coins that are worth more than a few hundred dollars, it is much better if they trade with that money instead of staking them and waiting to get very tiny amounts of interest every day for a year or so.

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Quote from: axxo on May 18, 2023, 03:02:17 AM

Staking crypto currencies can be a wise decision, but still it depends on your risk tolerance, the type of currency that you are going to stake and your investment goals. Staking is holding of cryptocurrency in a wallet or in a platform and earning rewards for helping to secure the network. Staking benefits includes earning passive income, which you can earn rewards in the form of additional coins without trading your coins. Staking also helps to secure the network by giving incentives to users who hold and stake their coins. Staking has also risk which is example possibility of losing your staked coins if the network was attacked or you violate terms and agreement of staking.

By providing this information you are giving some hints as investors needs to understand the full concept of staking, there are both risk and rewards and the chance of having passive income is one of the factor why staking is something that you will consider along the way, but there's always knowledge that needed to have before taking anything or deciding to what particular investment/staking to take.

It's wise if you know whether to take a long-run or a short-term stake as the possible benefits depend on how you fully recognized the opportunities to earn decently.

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Quote from: axxo on May 18, 2023, 03:02:17 AM

Staking crypto currencies can be a wise decision, but still it depends on your risk tolerance, the type of currency that you are going to stake and your investment goals. Staking is holding of cryptocurrency in a wallet or in a platform and earning rewards for helping to secure the network. Staking benefits includes earning passive income, which you can earn rewards in the form of additional coins without trading your coins. Staking also helps to secure the network by giving incentives to users who hold and stake their coins. Staking has also risk which is example possibility of losing your staked coins if the network was attacked or you violate terms and agreement of staking.

it depends on you yourself to be sure that the personal money you have will become a steady income later. but you should continue to analyze the things you have done. this is not so easy to explain and before all you feel it will be easy. The bigger your investment, the bigger your profit level.

axxo

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Staking crypto currencies can be a wise decision, but still it depends on your risk tolerance, the type of currency that you are going to stake and your investment goals. Staking is holding of cryptocurrency in a wallet or in a platform and earning rewards for helping to secure the network. Staking benefits includes earning passive income, which you can earn rewards in the form of additional coins without trading your coins. Staking also helps to secure the network by giving incentives to users who hold and stake their coins. Staking has also risk which is example possibility of losing your staked coins if the network was attacked or you violate terms and agreement of staking.

Doan9269

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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

Why should you go for a custodial wallet when you can easilyake use of a non custodial wallet that gives you control over your financial assets, if you already knows about this then still decides in using them, then always stand the chance of embracing every outcomes that may follows your decision, such could be the type that would restrict you from using your asset anytime the needs arises or got hacked when their system get attacked and left you with no recoverable seeds.

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Its very hard for me to trust any of those staking options out there except natives. Trust wallet staking is something I could consider with low amount of coins, probably not something more than 200 dollars. I think best thing is to do there is buying a ledger cold wallet and staking through it. Options on ledger live's staking are very limited but someone holding altcoins would prefer to stake coins like ethereum, polkadot, aptos etc anyways. Proof of stake coins are far easy to stake and I favor them over any other staking methods personally. I will stake ethereum for next bull run.

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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

This is just my opinion and perspective, if you hold Trx it's just stuck in your wallet that doesn't grow with each passing day. It's better and better to just put it in staking.

In staking, if we look at it, it is almost as if you are also holding a coin for the long term. The only difference is that you have a profit everyday compared to just holding the trx which does not give you a profit every day in your wallet.

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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 would personally never stake any coin. You can never trust anybody with your coins and when you need those coins you might get into problems. Why take those risks when you could keep the coins in your wallet ready to spend or save.

Don't go into the greed of making money just by staking, when a certain website scams or shut down you will never know. There have been so many exchanges getting shut down like this and people still don't learn their lesson.

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Well this is just 1 more reason why I do not like to stake my coins anymore. If I want to stake my coins on the exchange, I do not want there to be such delays for getting the rewards from staking them.

Coinbase has paused Ethereum staking rewards withdrawals for up to 3 days. https://finance.yahoo.com/news/coinbase-pauses-eth-staking-reward-205728999.html

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Quote from: hamba laeh on May 12, 2023, 04:29:44 PM

if you want to stake coins then I suggest looking for a site that provides bigger profits. because according to my knowledge, to stake coins in trustwallet does not provide high profits.

This is true but depends on the coins/tokens that you are staking them. The idea of staking them instead of just holding them is definitely better idea, why would you want to have the same thing with same amount when you could have more of that thing when you are staking.

But, this depends on the platform you are staking obviously, if you send your money to a shady place that scams you in the end, then it turns out staking it was a wrong move instead of just holding it. But, if you can pick a good token and a good platform to stake that, then you are going to definitely make more money than a person who only holds it. The key here is the platform you stake on, so pick one that you can trust and plenty of people already trusts and make sure you do not lose your money.

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Quote from: fvb on May 09, 2023, 01:14:15 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 that this is a completely correct and reasonable decision to bet on your tokens and receive a percentage of your cryptocurrency. Especially if this happens in your wallet, and not on the exchange, for example. Tokens are with you and you get profit from it and you can use the assets at your discretion at any time

only if don't get eaten by the volatility, many coins are always offering good APY because they know their coin value could change every time drastically, so one should also know the fundamental of the coin they staked.

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Depends on the project for sure. Staking has its risk of being squeezed between market price volatility. There are staking wherein an investor won't br ablr to pull out his stakes for a period of time so imagine if a market crash occur during that period; the only thing you could do is to wait for things to recover. But staking on the other hand is a good thing to do especially if the project has a good platform such as with Binance launchpads, to give you an example. Most of the release of their launchpads are successful creating profit from staking into it. Ofcourse not all projects would be resulting to something positive, that is the risk already. It'll now depend on what type of an investor you are; short term or long term.

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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

In my opinion, it is very wise if you are staking coins that you have rather than holding them for a long time, so it is more productive if you are staking coins. but if you want to stake coins then I suggest looking for a site that provides bigger profits. because according to my knowledge, to stake coins in trustwallet does not provide high profits.because many marketplaces provide stake coins.

fvb

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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 that this is a completely correct and reasonable decision to bet on your tokens and receive a percentage of your cryptocurrency. Especially if this happens in your wallet, and not on the exchange, for example. Tokens are with you and you get profit from it and you can use the assets at your discretion at any time

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Quote from: abel1337 on May 03, 2023, 10:41:03 AM

I think no, Once you stake your crypto, It will be on other custody and they will have a control with it. That's what I understand about staking. I had once tried staking and I'm on loss after it. The token I staked was dumped so hard that I lost majority of the value that I stake on that platform. To be honest I was blind by the APY that time that's why I rushed in staking my coins not knowing that it is a locked stacking. I was pretty ignorant at that time and I didn't do any research at all. After that I haven't tried any staking up to now. There are people who can get massive profits from staking their cryptocurrency but I think it needs a massive research especially on the kind of token you are staking.

Depends on where you are staking, there are decentralized staking around as well, and if you are doing that then you are not losing your money. Sure the income may not come anymore and that is a possibility, but the main money that you put will always be protected with the decentralized ones and that should be considered a benefit.

For example if you end up with something like pancakeswap, using cake to stake will not be lost, you could put it on staking and even at the worst case the whole system crashes, you will be able to withdraw your cake as it is, and that won't be an issue, the only issue would be if it crashes there won't be any value obviously, but it won't be stolen and it is not at the hands of anyone else. So if you are worried, use decentralized ones.

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To stake your crypto coin is determined by the atmosphere of the coin, which you need to calculate the profits return after staking and also check the price movements in the market and also check the stake period and can be considered as a wise investors.

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Quote from: DoublerHunter on May 06, 2023, 04:28:19 PM

Quote from: carrie_white on May 06, 2023, 03:22:39 PM

if you use a basic calculation, of course staking will be more profitable than just holding in the wallet, but of course all investments have risks, even staking, but by using a trusted staking exchange, at least you can reduce the risk

^ I rather choose to hold in my non-custodial wallet than staking of exchange, why?
Because in the first place, it is hard to find an exchange that you can entrust to hold with your fund in the specific time agreement.
One of your problems could be the exchange failure risk, staking on an exchange involves trusting the exchange to hold your assets and distribute your rewards. If the exchange fails or becomes insolvent, your staked assets could be lost or become inaccessible. Dont rely on the trusted exchange, they are still possible that can be hacked.

Not all the case but that is still possible in today's situation where hackers are too aggressive. Honestly, I've tried staking before but sadly, I feel very uncomfortable thinking that my funds are in their hands. Well, the good thing is that it was not a long-term agreement which still make me withdraw it and get back my funds. Therefore, I would say that if we are going to decide to stake, better choose the option where we can withdraw our funds anytime, not the option where it was lockin for a certain period of months or years. And most of all, better not to do this if you never feel comfortable.

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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

If the coins are owned to be held for the long term, it would be nice for us to do staking, especially in that wallet staking is available for certain coins. Unlike the coins that we use for daily trading. If we are staking, it will be troublesome when the market price is increasing. Staking will provide benefits if done for the long term.

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