It is wiser to learn about the staking mechanism of the coin first.
For example, is there any locking period for staking ? This is very important because once we stake our coin, we will need time to unstake it.
Then it means we can't sell our coin immediately when the price going up.
Topic: Is it wise to stake your crypto currency - page 9. (Read 1162 times)
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
Yes and No-
Yes - this when you got those tokens from when the price is very low or when it is not yet listed in the exchange, i.e from the presale or public sale. And this tokens is from a project that you are 90% sure the team are very committed and dedicated to the growth of the project not some quick-money grabbing teams.
No - this is because most of the attracting high staking apy you see will get slashed after a month or two, when the price pump your tokens are locked in a staking pool meaning you can't sell immediately, if the price dump by -90% it will only take a miracle for the price to go back to previous ath, you will lose opportunity to sell and you will have far less reward than you expected.
The only time to stake altcoins is during bear market when all alts are down by -90%, buy as much because the team already adjust the staking apy then you can receive the true reward and sell in bull market. My candid opinion.
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 gonna hold your funds anyway, better stake as you won't lose anything.
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 you keep your coins in the trust Trust Wallet and you don't need them at the moment for trading, then it would be logical to stake TRX. But in any case, it is necessary to measure the risk of losing all coins and the profit that you can get from such a stake.
I was facing a similar dilemma with my coins and was pleasantly surprised by how easy it was to earn and swap them on the XGo platform. The user-friendly features helped me make an informed decision. Maybe you could consider checking out XGo for a seamless staking experience, and who knows, it might just be what you were looking for
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
You can stake your coins when the bear market started although staking your coins in trust wallet not making your funds safe since keeping your balance with a hardware wallet is safer for you, at least you can stay away from CEX since there is a lot of bad news about CEX a few months ago and probably it won't stop there. Personally when the bear market few months ago I staked my coins in a platform and I'm quite satisfied with the result tho.
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
Staking can indeed be a second choice because my first choice prefers to make purchases by accumulation and hold, because if you really accumulate at low prices then accumulation is better than staking.
Staking cryptocurrency i think is a good way to earn passive income. But of course it is like any other investments, there is also risk involve in staking your crypto currencies. It is important to do your own research and study and understand the specific risks and rewards that is associated in staking your chosen crypto currency. Also ask and evaluate yourself if you can tolerate the risk that you are about to face in staking your crypto currencies before making any decision. Try to set also what is your investment goal.
Keep in your mind that if you must always try to keep your money in the safe place. Staknig will be giving you good earning regularly but i just try to remind you a thing if the face that you shall try to avoid to deal with non trusted custody. Im using trustwallet now for staking purpose and everything goes fine as long as you can keep your sensitive data safely. It's not always bad thing to stake your token as it will give you nice bucks.
I guess it depends? I mostly don't trust it, but for some minor coins I don't particularly mind staking them, specifically when the losses I'd incur if things ever go haywire were really low. If it were on coins that I have big investments like Bitcoin though, I'd never go through staking them, way too big of a loss if it ever went under.
Plus, just holding coins most of the time generate profit already anyway, so I'm completely fine with risking it that way instead of leaving it at the hands of others.
Plus, just holding coins most of the time generate profit already anyway, so I'm completely fine with risking it that way instead of leaving it at the hands of others.
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 not all coin that are available to stake but if we don't have anything to do with our crypto for now, we can stake it if we have the opportunity to stake them so we can earn as long as we are ready to stake it. Cryptocurrency are good for staking if we know a platform where we can stake it and earn some good profits as a trader. 
If you don't have anything to do with your crypto, like you don't need to convert it immediately, buying more and staking it is okay. Earning more wouldn't hurt you and it's important that the coin that is trying to make money the right way and has researched this that it's correct and right.
It's always best to practice that it's your own custody and not on CEXs or something but it's definitely easier.
It's always best to practice that it's your own custody and not on CEXs or something but it's definitely easier.
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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
Stake it if you are feeling it's safe and if you are feeling unsafe and then never try to stake your coins. it's caused by you have needed to deposit your money to the custodian staking address. You will not be owning your own coin. This was making yourself in a difficult situation right now. Think about that. All possibilities can happen anytime. You can try to decide based on what you have been researching before.
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
The problem is, which exchange that you can potentially entrust your fund to hold long term?You're entrusting your funds to a third-party which which means you're giving up control over your assets and relying on the exchange to properly secure and manage them. If the exchange is hacked or goes bankrupt, you could lose your staked funds and any rewards earned.
In fact, as of now, custodial exchanges typically have strict rules and limitations on staking, such as minimum staking amounts and lockup periods. This can limit your control over your staked assets and also custodial exchanges may also have restrictions on withdrawing your staked funds, which can be a disadvantage if you need to access your funds quickly.
IMO, it isn't that wise, remember the golden rule. Not your keys, not your coins.
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
Staking is not linked to your wallet, meaning that if you move your coin from one wallet to another, you will enjoy this feature, but rather it is linked to the currency. If it works with the Proof of Stake algorithm, then any wallet that supports staking will be sufficient to fulfill the purpose, otherwise you risk your money with a third party, that third party manages it in exchange for giving you a fixed return.It is closer to what happens in bank deposits, but here there are no regulators that guarantee your assets.
instead of trust wallet https://www.stakingrewards.com is the best option and binance staking is the worst option
When considering staking, I will always take into account the duration of staking, the percentage of rewards, and the ability to unstake at any time. It's important to note that higher rewards can potentially impact the token and its long-term price. Additionally, the inability to unstake at any time may hinder the ability to sell the tokens in the event of an unexpected price surge. Therefore, a shorter duration for unstaking would be the most suitable option if it is permitted.
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'm not going to say that it was a better option but staking is another way of earning some profit than holding. However, the use of the Trust Wallet when staking it increased the risk of losing your funds forever. If you can afford to do it, that was your choice but if I were you, better to use another platform that you really see it can really be trusted to safeguard your funds or else, just keep it in your personal wallet.
Wise or not, it will come back to you because you are the one who will decide.
But for me, it can be done, but you have to be careful and make sure that everything is safe. Before starting, you should be able to do research on which wallets are safe for staking. It is also to find out whether it is worth staking, which requires many coins to get many rewards. If it's not worth it, you don't need to do staking; just hold the coins in your wallet.
But for me, it can be done, but you have to be careful and make sure that everything is safe. Before starting, you should be able to do research on which wallets are safe for staking. It is also to find out whether it is worth staking, which requires many coins to get many rewards. If it's not worth it, you don't need to do staking; just hold the coins in your wallet.
Staking is most profitable to those that have high volume of liquidity of the staked coins, but then that also increases your risk level, e.g staking income is calculated based on the amount you starched away locked with a third party which makes your invested amount out of your control, which means there could be a pos you lose all the coins to the third party in the quest to gian high staking returned.
Instead of holding your coins in your wallet that gives you control over your funds and coins at all times.
So to me, staking is profitable but with a high risk, of possible loss of the entire investment to a third party who has control of you coins and wallets.
Instead of holding your coins in your wallet that gives you control over your funds and coins at all times.
So to me, staking is profitable but with a high risk, of possible loss of the entire investment to a third party who has control of you coins and wallets.
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