Topic: Is it wise to stake your crypto currency - page 8. (Read 1186 times)
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.
is it better to stake such a coin or hodl it
I think if you believe in the long-term potential of a particular cryptocurrency and believe in the underlying technology, staking can be a way to support the network and earn additional coinsand if you are risk averse and uncomfortable with the risks associated with staking, keeping cryptocurrency in a wallet or on an exchange can be a more conservative option.
Definitely not a good idea to stake your crypto. We have seen with recent events that if you leave your assets on a third party platform then you do not have full control. The reward from these staking schemes is not enough to risk your collateral. Just take your coins into self custody, it is not worth the risk.
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I guess it's worth it if you have a very large amount of coins that you can get a return from staking it. You can also hope the return will be worth the time you wait for the coin to increase in price again. I've been trying to stake those coins in custodial wallets or even on Binance and I see it can be a kind of passive income in the long term. But to sell the result, I think it will wait for the increase in the price of the coin so that we can get big profits.
I recommend to just using Trust Wallet as a temporary wallet if you are making a transaction. Don't use it as a wallet to keep your funds or do other activities such as staking. Look at it from a different perspective, to gain profits in a staking program means you will have to keep a lot of funds in a wallet which also means you are risking it two different ways. The staking and where you store it. Why not make the risk to just 1? Just the staking.
Use another wallet, a cold wallet to be precise, then look for ways to stake while you still have control.
Third-party applications will give you problems in the future because you will never know what could happen. Learn from the history of wallets that came out and are now gone.
Use another wallet, a cold wallet to be precise, then look for ways to stake while you still have control.
Third-party applications will give you problems in the future because you will never know what could happen. Learn from the history of wallets that came out and are now gone.
Trust Wallet is a non-custodial wallet, but unfortunately, it is a closed source, so we don't know what will happen to our assets. I also advise OP not to use it to store large amounts of assets. Mainly for staking, we need to put our assets on centralized exchanges, and this is too risky for the reward we get. In short, don't store too many assets with trustwallet wallets and centralized exchanges.
If we have the conditions, a hardware wallet is a perfect choice, otherwise, we can use Electrum to store bitcoins and Metamask for altcoins. Stay away from custodial wallets and exchange wallets.
If someone plans to hold an asset for the long term, they can earn extra coins by staking. However, if someone is a trader, trading may be a better option than staking because staking requires selecting a time period and if one unstakes before the locking period, they may not gain any significant advantage. This is a disadvantage of staking. However, if someone is afraid of trading or considers it risky, staking can be a good option for gaining something.
even staking is risky if you are trying to stake some new coins that offers massive apy i think the profit might be more than trading in some cases in which definitely means there's higher risk involved. it's just matter of which coin someone stake. 
I recommend to just using Trust Wallet as a temporary wallet if you are making a transaction. Don't use it as a wallet to keep your funds or do other activities such as staking. Look at it from a different perspective, to gain profits in a staking program means you will have to keep a lot of funds in a wallet which also means you are risking it two different ways. The staking and where you store it. Why not make the risk to just 1? Just the staking.
Use another wallet, a cold wallet to be precise, then look for ways to stake while you still have control.
Third-party applications will give you problems in the future because you will never know what could happen. Learn from the history of wallets that came out and are now gone.
Use another wallet, a cold wallet to be precise, then look for ways to stake while you still have control.
Third-party applications will give you problems in the future because you will never know what could happen. Learn from the history of wallets that came out and are now gone.
If someone plans to hold an asset for the long term, they can earn extra coins by staking. However, if someone is a trader, trading may be a better option than staking because staking requires selecting a time period and if one unstakes before the locking period, they may not gain any significant advantage. This is a disadvantage of staking. However, if someone is afraid of trading or considers it risky, staking can be a good option for gaining something.
Why not?
I think staking is fine even providing liquidity is also fine, so long it generates additional increase of value for you.
after all they are created for purpose that is for investment for select people out there, I think if it fits your need just stake it.
I think staking is fine even providing liquidity is also fine, so long it generates additional increase of value for you.
after all they are created for purpose that is for investment for select people out there, I think if it fits your need just stake it.
But for me, staking is not really worthy moreover if we only have small amount of the money. I ever calculated the profits to gain when staking for several.months - year. But the profits are still low because it is small amount. Moreover we cannot do anything to our cryptos during they are staked.
true sometime staking just isn't worth it mainly because the profit gained for staking even a year didn't show that much that I think even holding coin is definitely better than staking at this point, i'd say just find some good coin to hold and thats it no need for staking if the current rate of returns rather low. 
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 it is a out wise or not, I think that it is not a ig problem and still wise enough if we want to stake our cryptos. But, we must really understand what platform we are using to ensure the credibility and trust.
If we have understood the chances to gain and also the weakness of staking, ibclusing how much we will gain, and we accelt this, why not?
But for me, staking is not really worthy moreover if we only have small amount of the money. I ever calculated the profits to gain when staking for several.months - year. But the profits are still low because it is small amount. Moreover we cannot do anything to our cryptos during they are staked.
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 was not a bad idea but of course, you must also understand how staking works. It was very important that you understand it because you might be wondering why you can't withdraw your fund which is possibly still in the lock-in period and stopping your withdrawal. And some other cases, staking is also a reason for losing funds like using non-reputable exchanges. We should be cautious where we put stake our crypto because this is too risky as we let our funds be controlled by other parties, not us. 
if you have judged the APY might be interesting and also you gonna have to hold the coin for long to get real benefits out of it and you're fine with it, then there's nothing wrong with staking since it will give you additional profits regardless you're also gonna need to wait the value of your investments rise anyway.
If you are for more quantity and adding more of the number of your holding then stake is one way. It's a passive and easy way of gaining more of that crypto in your hands. But the problem is your choice of wallet. There are unreliable wallets that also offer staking and you may have just come across them because of the ads that you've seen over the internet and as soon as you've seen it, you've trusted it wholly without doing deep research. That's one of the problems of many people learning to stake as they've been swarmed with ads that this and that wallet is a good one to stake their cryptos. 
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 personal opinion I think staking is not that kind of bad things to do. If the platform is well reputable then if you want you can stakes some of your crypto fund on them. But always care about the platform and always don't be so greedy for higher percentage because most of the case most people trapped by scammers by it. Besides staking on good reputed platform always aware of news about the platform for extra security for your fund. 
It would be unwise to stake your crypto assets on the staking model and keep trusting it, as it is also quite risky if you do it on an untrusted wallet.
But it will be an option for every crypto user, as staking will provide a favorable APY for a predetermined period of time. If you are okay with security vulnerabilities, then do it with minimal assets. don't use all of them.
But Holding for Bitcoin will be the best way to stay safe in the long run.
But it will be an option for every crypto user, as staking will provide a favorable APY for a predetermined period of time. If you are okay with security vulnerabilities, then do it with minimal assets. don't use all of them.
But Holding for Bitcoin will be the best way to stay safe in the long run.
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
When we do speak about custodian wallet then with that alone then it isnt something that would really be that worth on holding up because we know that we dont actually have the complete posession of our keys.
You cant really be that confident on leaving out those coins staking on something you do know that it isnt yours completely. Plus despite on having those good APY's then we know that we do have that called
bonding period on which on the time that you would be pulling out those coins whether they do have that option or not then its not completely that you could be able to sell out those coins whenever you do see
that its price had pumped out. There are ones who could actually make out some withdrawal instantly but most of them would really be having that waiting time. I would rather be
holding up my coin into my own non custodial wallet even though it wont be having that increasing or earning opportunity with those coins but at least you are confident
when it comes to security.
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
What do you mean by what is better? By staking your coins, you will be earning passive income, you will grow your portfolio, what can lead to maximization of profitability on long term, under the price of risking your money, which can be stolen at anytime by hackers or by the custodial platform itself.On the other hand, if you simply hold your coins in a safe wallet (self-custody), you won't be stolen, but at same time your money won't be working for you passively. You have to evaluate the pros and cons of each of the two categories and reach the decision which best fulfills your demands as investor.
Due to the huge scams last years on staking platforms, many investors have retreated from investment platforms, back to the self-custody wallets.
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 just depends on what do you want. If you don't care about the safety of your assets then you can go for it since staking does require quite bit of time to lock your tokens in order to get rewarded. Sure, it's managed by Binance but still you need to be careful if something happens with their application. Also make sure to check the APY of the tokens you choose, there are some traps there.
I think it's good too Staking your cryptocurrency can offer several advantages over just earning passive income especially if the market is very volatile and volatile and this can be a pretty safe option meaning because you are not actively trading but getting rewarded for your investment but See also the costs associated with betting whether it can affect your profits. However, if you choose Hodl, you are a typical long-term investor.
If you decide to bet on your cryptocurrency, then be sure to study the process and the risks associated with it. Make sure you fully understand the staking process and how it can affect your cryptocurrency.
In general, keeping cryptocurrencies in a wallet is a more conservative approach and may be suitable for those who prefer not to take on too much risk. However, if you want to increase your earnings, then staking may be an option, but it is important to be aware of the risks and not invest more than you are willing to lose.
In general, keeping cryptocurrencies in a wallet is a more conservative approach and may be suitable for those who prefer not to take on too much risk. However, if you want to increase your earnings, then staking may be an option, but it is important to be aware of the risks and not invest more than you are willing to lose.
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