If you are staking in your own node then you are far from the risk because you have full control of your wallet the only risk about this is that if the coin you are staking becomes low value or drops in price.
If you are staking directly on exchanges you have two risks you don't own your keys and potential drops in price.
That is why before you stake make sure to do research first before you stake to any project or coin you invest in.
For me, if you want less risk or no risk I guess try participating in airdrops it's profitable when you are rewarded sample those who play tap-tap games in not coin and made a huge reward now they can able to exchange them to major exchanges. You can participate on the same concept like Hamster Kombat but I can't guarantee the airdrop but since you are not investing anything only time spent it is less risky than investing your money in staking.
Topic: Less Risky Modes Of Earning In The CryptoSpace That Should Be Considered. - page 2. (Read 239 times)
June 18, 2024, 06:57:10 PM
June 18, 2024, 06:27:26 PM
Well, yes staking is a good way of earning through crypto but do mind that it is also has a risk but yeah less risky than other means of earning through crypto currency, well the reason is that if you would notice there are a lot of new crypto currency ornproject emerging right now, airdrops for example and most of airdrops offer staking after they give airdrops to the users or thos who wants to invest to their coins, that is much less risky because you will only do task to be eligible for airdrops and you can put it into staking so that if the coin has its price now then you will have a good amiunt of profit but of course if you will only stake using your own money then consider the risk and stake on a currency that is most likely to have a potential to grow even just a short term.
June 18, 2024, 04:00:14 AM
I did my research on staking some time back and it looked like something that I will be willing to try in the future. However all of the modes of earning passive income have risks even staking. For example, due to the volatile nature of cryptocurrencies and fall in price will easily outweigh the rewards that the individual can earn from staking. In addition, the counterparty risk. I think I will be able to take on the other risks of minimum lock up and the waiting period for each blockchain to get back my coins but can bear the former. I think that Crypto lending bears the same risks but it is even better than staking.
June 18, 2024, 02:33:39 AM
A good number of mechanisms exist to enhance earning in the CryptoSpace. Most times, it is ideal to explore a few of them.
A lot of these abound. Ranging from passive earning opportunities like staking, farming and lending, newer frameworks like PoolX are currently having a field day. With the PoolX, users are given an opportunity to stake USDT, $BGB & Other alts to mine other good tokens.
Let me know what you think about these kinds of ways to earn.
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