Topic: New to staking - is this worth it? (Read 703 times)
At present there are more and more staking techniques, even many projects that give you thousands of percent promise only buy and save in wallets, then automatically stake and make the value or amount that we hold continues to increase, I also invest in staking coins such as Aeterna, Safuu and others, and others, and others I think very satisfied with the rewards they give.
Staking platforms like MAXX Finance do have a lock up, and that's a good thing. Lock ups ensure diamond hands and stabilize the yield and price of the project. Projects that don't have staking terms have greater risk and are subject to pump and dumps.
Staking requires you to lock up your tokens for a certain period of time, which can be 30 days, 60 days, 90 days depending on your choice. The risk here is that if you are in the process of staking, your coins suddenly increase in value or you need to sell them for business, you will not be able to sell immediately but have to wait until the end of the staking period, only then can you get your token back.
Not all. There are certain offers that don't require you to lock your assets when you stake them. In binance, they've got locked up options and there are also flexible options. The same with mycointainer.com as I quote, they have flexible options.Do you have to lock in your coins? As a beginner, you’d probably want to go for a flexible plan to access your crypto assets all the time. Surely, the higher is the risk, the higher will be your APY. However, with locked digital coins, you can’t take advantage of unpredictable changes in the market.
With MyContainer, there’s no need to lock your coins for the duration of your staking period.
With MyContainer, there’s no need to lock your coins for the duration of your staking period.
Hi, I would say staking is not good if it has any restriction on you withdrawing your assets instantly.
If you can withdraw your staked asset instantly, go for it.
If not, you may lose more % than you will ever earn while staking your asset for a year.
If you can withdraw your staked asset instantly, go for it.
If not, you may lose more % than you will ever earn while staking your asset for a year.
To be honest, I'm thinking about staking too, but hearing what you're saying is a little scary. What kind of risk is there and what is the possibility of losing money here.
Staking requires you to lock up your tokens for a certain period of time, which can be 30 days, 60 days, 90 days depending on your choice. The risk here is that if you are in the process of staking, your coins suddenly increase in value or you need to sell them for business, you will not be able to sell immediately but have to wait until the end of the staking period, only then can you get your token back.
Hi, I would say staking is not good if it has any restriction on you withdrawing your assets instantly.
If you can withdraw your staked asset instantly, go for it.
If not, you may lose more % than you will ever earn while staking your asset for a year.
If you can withdraw your staked asset instantly, go for it.
If not, you may lose more % than you will ever earn while staking your asset for a year.
To be honest, I'm thinking about staking too, but hearing what you're saying is a little scary. What kind of risk is there and what is the possibility of losing money here.
from my personal experience (I have staked several coins in the past)... I can tell you that when a high APY is provided there is always the concrete risk of "inflation" (likewise "extra" production of coins that is not absorbed by real use or by market conditions). This will results in a decline in market value! In practice, it is true that you get that staking percentage (you have more coins) but the economic total (equivalent in dollars or btc) practically remains unchanged if it does not decrease.
You can always hope for a brutal PUMP of the token in question but it is rare that such a phenomenon occurs (we are talking about a shit coin ...
)
You can always hope for a brutal PUMP of the token in question but it is rare that such a phenomenon occurs (we are talking about a shit coin ...
)I believe VRA will at least 10x from current price , some are saying 50x but lets say I settle for 10x.
As long as 10x happens in the future, say 1-2 years, it is worth staking while prices are low?
Is that not how it works? You would rather stake when price is low and has a lot of room to grow compared to staking when prices are high and likely to fall?
I'm curious to understand the motivation ... why should this coin be able to make such a strong rise? have they planned any new implementation? changes to the protocol? or is it a simple prediction / speculation on the future price?
Hi, I would say staking is not good if it has any restriction on you withdrawing your assets instantly.
If you can withdraw your staked asset instantly, go for it.
If not, you may lose more % than you will ever earn while staking your asset for a year.
If you can withdraw your staked asset instantly, go for it.
If not, you may lose more % than you will ever earn while staking your asset for a year.
To be honest, I'm thinking about staking too, but hearing what you're saying is a little scary. What kind of risk is there and what is the possibility of losing money here.
from my personal experience (I have staked several coins in the past)... I can tell you that when a high APY is provided there is always the concrete risk of "inflation" (likewise "extra" production of coins that is not absorbed by real use or by market conditions). This will results in a decline in market value! In practice, it is true that you get that staking percentage (you have more coins) but the economic total (equivalent in dollars or btc) practically remains unchanged if it does not decrease.
You can always hope for a brutal PUMP of the token in question but it is rare that such a phenomenon occurs (we are talking about a shit coin ... )
You can always hope for a brutal PUMP of the token in question but it is rare that such a phenomenon occurs (we are talking about a shit coin ...
)I believe VRA will at least 10x from current price , some are saying 50x but lets say I settle for 10x.
As long as 10x happens in the future, say 1-2 years, it is worth staking while prices are low?
Is that not how it works? You would rather stake when price is low and has a lot of room to grow compared to staking when prices are high and likely to fall?
from my personal experience (I have staked several coins in the past)... I can tell you that when a high APY is provided there is always the concrete risk of "inflation" (likewise "extra" production of coins that is not absorbed by real use or by market conditions). This will results in a decline in market value! In practice, it is true that you get that staking percentage (you have more coins) but the economic total (equivalent in dollars or btc) practically remains unchanged if it does not decrease.
You can always hope for a brutal PUMP of the token in question but it is rare that such a phenomenon occurs (we are talking about a shit coin ... )
You can always hope for a brutal PUMP of the token in question but it is rare that such a phenomenon occurs (we are talking about a shit coin ...
) ~
I have 36,500 VRA now (see post 15)
Even better. That shortens the time for earning the fees for withdrawal.I have 36,500 VRA now (see post 15)
I havent really thought about VRA to be honest the last week or so on one hand I feel holding will be enough if it does do well next bull run but on the other If I am holding I might aswell stake to get more, I am just not sure about holding on their wallet and if it is worth doing so with the fees involved.
Just do a simple math:10K earns you 5 a day.
36.5K earns you 17 or so a day.
89 days to earn ~1500 VRA.
It all boils down to how long you intend to hold. We are probably one or two years away from the next bullrun and, by that time, you'll earn more than enough to cover the fees (that's if you start staking those 36,500 VRAs now). Still, it's really up to you.
I am going to wait for our next crash in the market which is hopefully soon so I can purchase more which will give me around 50,000 VRA which I can then stake for the long term.
VRA pumped 35% since I bought a few weeks ago, could have cashed out but I have left it and will just buy more when we have our next crash.
~
I have 36,500 VRA now (see post 15)
Even better. That shortens the time for earning the fees for withdrawal.I have 36,500 VRA now (see post 15)
I havent really thought about VRA to be honest the last week or so on one hand I feel holding will be enough if it does do well next bull run but on the other If I am holding I might aswell stake to get more, I am just not sure about holding on their wallet and if it is worth doing so with the fees involved.
Just do a simple math:10K earns you 5 a day.
36.5K earns you 17 or so a day.
89 days to earn ~1500 VRA.
It all boils down to how long you intend to hold. We are probably one or two years away from the next bullrun and, by that time, you'll earn more than enough to cover the fees (that's if you start staking those 36,500 VRAs now). Still, it's really up to you.
Have just bought £100 worth of Verasity (VRA) which got me 24500 total.
I have just gone to withdraw this to stake elsewhere but noticed there is a fee of 1500 VRA.
The APY for staking this crypto is 18.25% - is this worth doing or due to the fee am I just better off holding?
I disagree on the token itself. I mean what the hell is verasity. Now that I am checking it, it is barely in the top 400, why would you do that? If you really want to invest into something that would make you some profit, and you want to stake it at the same time, then why not go with cake? They have pure staking, not LP or anything, pure staking and you could make a lot of money from it as well when the time comes.I have just gone to withdraw this to stake elsewhere but noticed there is a fee of 1500 VRA.
The APY for staking this crypto is 18.25% - is this worth doing or due to the fee am I just better off holding?
If VRA ever goes up, I believe that Cake would be going up at the same time as well. Or if you are not sure about that, go with ETH or BNB which both have staking features in Binance and you could make a little, but guaranteed income.
I have only invested £100 - if it goes to zero then so be it.
But if it does a 100 x then it is well worth it - I think the metaverse will be massive in the next 3-5 years.
I think I am going to go for it having had a look at their requirements there is no locked period which is pretty good.
the locked period is not the only thing you have to consider there are other things for example the 3rd party where you stake the coin is hacked then you will also lose your coins, why force yourself to stake the coin keeping it private is much safer where you have it control~
Yes exactly that, i have not staked yet however as I am just holding for now as do not feel the amount I hold is worth staking for now after the fees you have to pay.
It's been a while since I last checked my account. I noticed they already give you the amount of earned VRA per day based on your holdings.Yes exactly that, i have not staked yet however as I am just holding for now as do not feel the amount I hold is worth staking for now after the fees you have to pay.
24,500 gives you around 12 VRA/day (360 per month) which means it will take you four months+ to reach the withdrawal fee required.
^ Figures doesn't look good for short term holding and you should probably decide if you want to add up or just switch to other coins/tokens. If you like VRA and plan on holding for more than four months, you might as well stake it now and add top up later.
I have 36,500 VRA now (see post 15)
I havent really thought about VRA to be honest the last week or so on one hand I feel holding will be enough if it does do well next bull run but on the other If I am holding I might aswell stake to get more, I am just not sure about holding on their wallet and if it is worth doing so with the fees involved.
~
Yes exactly that, i have not staked yet however as I am just holding for now as do not feel the amount I hold is worth staking for now after the fees you have to pay.
It's been a while since I last checked my account. I noticed they already give you the amount of earned VRA per day based on your holdings.Yes exactly that, i have not staked yet however as I am just holding for now as do not feel the amount I hold is worth staking for now after the fees you have to pay.
24,500 gives you around 12 VRA/day (360 per month) which means it will take you four months+ to reach the withdrawal fee required.
^ Figures doesn't look good for short term holding and you should probably decide if you want to add up or just switch to other coins/tokens. If you like VRA and plan on holding for more than four months, you might as well stake it now and add top up later.
Have just bought £100 worth of Verasity (VRA) which got me 24500 total.
I have just gone to withdraw this to stake elsewhere but noticed there is a fee of 1500 VRA.
The APY for staking this crypto is 18.25% - is this worth doing or due to the fee am I just better off holding?
I disagree on the token itself. I mean what the hell is verasity. Now that I am checking it, it is barely in the top 400, why would you do that? If you really want to invest into something that would make you some profit, and you want to stake it at the same time, then why not go with cake? They have pure staking, not LP or anything, pure staking and you could make a lot of money from it as well when the time comes.I have just gone to withdraw this to stake elsewhere but noticed there is a fee of 1500 VRA.
The APY for staking this crypto is 18.25% - is this worth doing or due to the fee am I just better off holding?
If VRA ever goes up, I believe that Cake would be going up at the same time as well. Or if you are not sure about that, go with ETH or BNB which both have staking features in Binance and you could make a little, but guaranteed income.
No doubt, OP researched all APYs of Eth and Bnb, but since he is looking for a coin that offers more than high APY, he is aiming for VRA, which can generate huge returns in the future, such as x10 and x100. This is probably the reason why he chose VRA in the first place. With this option, it looks like the OP is gambling more willingly to take risks than to seriously invest for a guaranteed income.
Yes exactly that, i have not staked yet however as I am just holding for now as do not feel the amount I hold is worth staking for now after the fees you have to pay.
Staking is a good strategy to get profit and of course hold long term, currently I'm staking MATIC, TRON, CAKE and some other coins and I'm targeting for the long term, all staking of course has a risk that the coin sinks or becomes a scam, but in In life sometimes we have to dare to take risks to be able to change the future.
Have just bought £100 worth of Verasity (VRA) which got me 24500 total.
I have just gone to withdraw this to stake elsewhere but noticed there is a fee of 1500 VRA.
The APY for staking this crypto is 18.25% - is this worth doing or due to the fee am I just better off holding?
I disagree on the token itself. I mean what the hell is verasity. Now that I am checking it, it is barely in the top 400, why would you do that? If you really want to invest into something that would make you some profit, and you want to stake it at the same time, then why not go with cake? They have pure staking, not LP or anything, pure staking and you could make a lot of money from it as well when the time comes.I have just gone to withdraw this to stake elsewhere but noticed there is a fee of 1500 VRA.
The APY for staking this crypto is 18.25% - is this worth doing or due to the fee am I just better off holding?
If VRA ever goes up, I believe that Cake would be going up at the same time as well. Or if you are not sure about that, go with ETH or BNB which both have staking features in Binance and you could make a little, but guaranteed income.
No doubt, OP researched all APYs of Eth and Bnb, but since he is looking for a coin that offers more than high APY, he is aiming for VRA, which can generate huge returns in the future, such as x10 and x100. This is probably the reason why he chose VRA in the first place. With this option, it looks like the OP is gambling more willingly to take risks than to seriously invest for a guaranteed income.
Hi,
Have just bought £100 worth of Verasity (VRA) which got me 24500 total.
I have just gone to withdraw this to stake elsewhere but noticed there is a fee of 1500 VRA.
The APY for staking this crypto is 18.25% - is this worth doing or due to the fee am I just better off holding?
I plan to hold for 18-24 months.
If anyone could advise on the above or on staking in general if it is worth it.
Thanks
Have just bought £100 worth of Verasity (VRA) which got me 24500 total.
I have just gone to withdraw this to stake elsewhere but noticed there is a fee of 1500 VRA.
The APY for staking this crypto is 18.25% - is this worth doing or due to the fee am I just better off holding?
I plan to hold for 18-24 months.
If anyone could advise on the above or on staking in general if it is worth it.
Thanks
After I experienced a case of google chrome metask being hacked and all the balances in the wallet including the one I saved for staking on Pancakeswap then I no longer want to staking on DEX, it's too risky, and I recommend staking on top exchanges that have a strong reputation and activate all features security.
Have just bought £100 worth of Verasity (VRA) which got me 24500 total.
I have just gone to withdraw this to stake elsewhere but noticed there is a fee of 1500 VRA.
The APY for staking this crypto is 18.25% - is this worth doing or due to the fee am I just better off holding?
I disagree on the token itself. I mean what the hell is verasity. Now that I am checking it, it is barely in the top 400, why would you do that? If you really want to invest into something that would make you some profit, and you want to stake it at the same time, then why not go with cake? They have pure staking, not LP or anything, pure staking and you could make a lot of money from it as well when the time comes.I have just gone to withdraw this to stake elsewhere but noticed there is a fee of 1500 VRA.
The APY for staking this crypto is 18.25% - is this worth doing or due to the fee am I just better off holding?
If VRA ever goes up, I believe that Cake would be going up at the same time as well. Or if you are not sure about that, go with ETH or BNB which both have staking features in Binance and you could make a little, but guaranteed income.
I have only invested £100 - if it goes to zero then so be it.
But if it does a 100 x then it is well worth it - I think the metaverse will be massive in the next 3-5 years.
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