Is Staking Coins a Good Idea? - page 10.

TastyChillySauce00

legendary

Activity: 3010

Merit: 1028

Leading Crypto Sports Betting & Casino Platform

Quote from: TWW on August 30, 2021, 09:50:03 AM

Quote from: ?? on ??

I think staking is a small risky investment, where the coins we invest will remain safe and not decrease like we trade on the exchange, as if we get passive income from our savings without any admin fees like in a bank

as long as the asset and platform we choose are good, I'm sure it will remain safe and very low risk.
but it all depends on the analysis and market moments too. we must determine the right time to enter the stake and the right time to exit.
because some platforms give a time limit for each staking. so we can not arbitrarily do unstake.

The time limit for staking or the token being locked is what make staking can be unprofitable in the long term because the price of token isn't always stable. But if the asset that gets staked is gaining more price it can become profitable.
There are many project that offer staking even if their project is already popular mostly games because they want to attract more gamers, like AXIE for their land owners if I'm not mistaken and this project is based on NFT game. Since this token also isn't always stable in price it can also become unprofitable in the long term.

kensaii

full member

Activity: 396

Merit: 106

Staking used to be a trend for almost every new altcoin a few years ago. But as more people have a chance to try it, they realize staking is very risky as you need to lock or hold your coin in an amount of time to receive stake reward. This is very similar to when you deposit your money into bank and sign a paper to keep it for an amount of time to receive the annual interest rate. In cryptocurrency with a dynamic market every day, something changes, prices going up and down. This meaning you become passive over such change just because you're willing to do it for 'stake reward' that could just inflate the next day while don't have the stability of real fiat money. See how this going?

faithupgrade

sr. member

Activity: 475

Merit: 253

ARCS - A New World Token

Staking is good, if. Yes theres an "IF". If the price of the coin you are going to stake is going up. Then stake the coin, because aside from holding you gain a few profits from staking.

If the price of stake coin is bearish, then better sell the coin and hedge the price in USDT. Remember this, even the coin is producing profit thru staking. The amount of coin you can buy once it reaches the bottom might be double or 4x of its amount.

So better plan your trading or staking.

Quote from: DanielBroonze on August 21, 2021, 06:07:22 AM

Actually, I heard about Staking the coins gives apy. I want to know is really a staking good idea & what will be the staking months like 1 month, six months or 1 year.

TWW

full member

Activity: 1456

Merit: 109

Quote from: ?? on ??

I think staking is a small risky investment, where the coins we invest will remain safe and not decrease like we trade on the exchange, as if we get passive income from our savings without any admin fees like in a bank

as long as the asset and platform we choose are good, I'm sure it will remain safe and very low risk.
but it all depends on the analysis and market moments too. we must determine the right time to enter the stake and the right time to exit.
because some platforms give a time limit for each staking. so we can not arbitrarily do unstake.

Melignya

newbie

Activity: 28

Merit: 1

Because of the energy consumption issues that arise in cryptocurrency mining, staking is often considered as an alternative. I read an article on this topic here recently, I'll leave the link https://blockster.com/blockdesk/1410_can-staking-lose-your-crypto

Gayong88

member

Activity: 1540

Merit: 22

You can try it On TVK https://www.binance.cc/en/support/announcement/c28d34b977a34c2d8882aa96ff07a957 After 15 days of stakes and TVK back to the spot wallet, the TVK is put back into locked staking along with the previous profit, if you calculate the result, the interest is 47% a year. The point is as long as the fundamentals of the coin/token are good, why not.

poodle63

hero member

Activity: 2702

Merit: 510

Leading Crypto Sports Betting & Casino Platform

Quote from: ?? on ??

Staking good ideas if not any rule like lock coin with several period time, example when you staking some coin you have waiting one month to open and your fund available to sell, we don't know some time few week after staking coin pump but when have rule with lock we can't sell our coin and need waiting one month to unlock.

Staking that require to lock the asset is only suitable for long term investor because most of long term investor don't care about the short term pump and dump because they already set price target.
For short term investor that care about the short term pump and dump and it can become unprofitable if the reward they get from staking is also small because as you said we can't sell the token if it's locked and can miss opportunity when prices are high and it will only work if the staking reward is high.

ninabobo

full member

Activity: 463

Merit: 100

Staking could be a good way of making little profits without doing anything, it could be more like passive income, well I think staking isn't for people with small capital because the income it will yeild will be small depending on the capital tho, staking isn't for those looking for quick profit because it requires a longer period of time for the capital to accumulate more percentage, tho some staking platform gives more percentage than the others and some could be more lucrative and beneficial.

Gbniman

member

Activity: 84

Merit: 10

Cryptocurrency staking refers to “locking up” a digital asset to act as a validator in a decentralized crypto network to ensure the integrity, security and continuity of the network. As an incentive for helping to secure the network, stakers (validators) are rewarded with newly minted cryptocurrency.

Staking has been made possible by the Proof of Stake (PoS) consensus algorithm, which emerged as an alternative to Bitcoin’s energy-intensive Proof of Work (PoW).

Hypnosis00

sr. member

Activity: 2436

Merit: 343

Quote from: haleema on August 27, 2021, 07:32:07 PM

Staking is a fix income of your assets and very good profit as per you investment. It's available on all exchanges or Dex, but you have to chose secure and potential like Binance. There are many coin pairs are available for staking some of these have high APY. (btc/usdt) (usdt/busd).

2%, 5% APY isn't bad enough and besides, we don't do anything but just like depositing money in the bank waiting to receive our shares. Trust and capability of exchange are big factors that could help to determine which coin and exchanges will have to choose as not all coins have the same rates and at the same time, not all exchanges are worth trusting. Choosing the higher APY the better but please be reminded about the risk as it still existed since they are prone to hacking.

haleema

jr. member

Activity: 560

Merit: 4

Staking is a fix income of your assets and very good profit as per you investment. It's available on all exchanges or Dex, but you have to chose secure and potential like Binance. There are many coin pairs are available for staking some of these have high APY. (btc/usdt) (usdt/busd).

DibiaVxosis

member

Activity: 187

Merit: 10

Quote from: semobo on August 21, 2021, 10:40:03 AM

Quote from: DanielBroonze on August 21, 2021, 06:07:22 AM

Actually, I heard about Staking the coins gives apy. I want to know is really a staking good idea & what will be the staking months like 1 month, six months or 1 year.

Staking is not actually for someone who is looking to make money with their capital, its only for someone who is already having huge amount of staking and don't know what to do with their money so they can stake and get very little returns per year. So you have to hold your coins for a year to get that return but while holding period the value of your coin may fall 50% or rise 50% so understand the risk associated with that before staking.

Well actually the staking reward isn't that lucrative but could be more beneficial to people with bigger capital, and also one thing to note is that staking is just like locking your money for a period of time, staking is just like having a spare funds to keep out for a period of time and gain little rewards in return, it's not a get rich quick scheme or a formula for doubling small capital either, so for me I would say staking is for those with huge capital and funds which isn't ready to be spent yet.

Melignya

newbie

Activity: 28

Merit: 1

Many people say that the rate is an alternative to mining, I was recently interested in this topic and found a rather interesting article, I leave the link https://blockster.com/blockdesk/1410_can-staking-lose-your-crypto

Sithara007

legendary

Activity: 3276

Merit: 1352

Leading Crypto Sports Betting & Casino Platform

Quote from: ?? on ??

Quote from: DanielBroonze on August 21, 2021, 06:07:22 AM

Actually, I heard about Staking the coins gives apy. I want to know is really a staking good idea & what will be the staking months like 1 month, six months or 1 year.

Staking is really one good way to earn passive income especially if you are a long term hodlers because in this way as long as you hodl your token and stake it, it will earn interest that can be a profit for you.

Staking income will be of no use, if the exchange rate of these coins go down. And that is what happened in 2018-19. A lot of people invested in various PoS coins, and suffered huge losses when the prices went down. The income from staking was not enough to cover these losses. And unfortunately, many of these coins are either dead or dormant as of now. Investors have suffered close to 100% losses, especially with the smaller PoS coins such as Deep Onion. The situation may have changed, but it is difficult to trust this bunch again.

Text

hero member

Activity: 2464

Merit: 594

Bitcoin Casino Est. 2013

Yeah, it's really beneficial to stake just like I'm doing with some of my other coins/tokens in my Binance account. When I don't want or not ready yet to sell them and because I have a price target for selling, I stake them first. I get at least a little, and at least there is more than nothing. Just stake on trusted platforms, other wallets have and can also be like the Trust wallet but only selected few altcoins.

FinneysTrueVision

sr. member

Activity: 1680

Merit: 379

Top Crypto Casino

There are different types of staking. There is staking at the protocol level on certain blockchains where you can lock money up and in return you earn block rewards for being a validator on the network. There is also staking on decentralized finance where you are incentivized to provide liquidity. I have previously staked CAKE on PancakeSwap and was was earning a decent passive income from that.

cabron

hero member

Activity: 2800

Merit: 595

https://www.betcoin.ag

Quote from: flip4flop on August 25, 2021, 09:49:27 PM

In my opinion yes staking is incredibly beneficial to increase your wealth if you do it smart. I would recommend taking the time to do the due diligence on what and where you are staking to ensure there is a lower risk of getting the rug pulled on you. Chasing insane APRs sounds good but is likely very high risk. If it sounds to good to be true just ensure that losing the entire amount you are staking won't put you in a bad spot financially.

Rugpulls are only for the new projects. There are some Defi projects that did this already and some almost becoming a scam when there are no staking pools created anymore and if you plan to join the staking, make sure there are staking pools to those projects. This is just one risk to these Defi staking, another is the hacking which recently happened in Polynetwork.

Staking on old projects are a lot safer like with ETH, DOT, NEO, SOL and ADA.

flip4flop

full member

Activity: 378

Merit: 135

In my opinion yes staking is incredibly beneficial to increase your wealth if you do it smart. I would recommend taking the time to do the due diligence on what and where you are staking to ensure there is a lower risk of getting the rug pulled on you. Chasing insane APRs sounds good but is likely very high risk. If it sounds to good to be true just ensure that losing the entire amount you are staking won't put you in a bad spot financially.

Lexurdania

member

Activity: 840

Merit: 10

staking only work if the project was high quality project, we could earn double benefits if developers team could maintain price or even make it growth . when demand to coin could created and investors believe this is the future , so stake our coins could be great future. we will got staking reward and also price increase.

Kelvinid

sr. member

Activity: 2828

Merit: 344

win lambo...

You can actually gain a small profit from staking but at least there is something than nothing. This is commonly a strategy used by many holders and they can really justify how it works. Just only a need to choose potential coins that could stay in the market for long, most of the holders are using altcoins which I think was a good idea. But just to remind the risk in this strategy as we are not in full control of our fund since we handed it over to the exchanger and take the responsibility, and whatever happens to them, you will lose them all.

Topic: Is Staking Coins a Good Idea? - page 10. (Read 2055 times)