New to staking - is this worth it? - page 2.

justdimin

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Quote from: JamesDaniel90 on July 04, 2022, 09:38:59 AM

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.

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.

Questat

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Quote from: fullhdpixel on July 11, 2022, 02:50:34 PM

We don't want our funds to get trapped, the same that happens with the OP but for the OP, you have no choice for now but to continue what you are doing there which is staking since pulling out your funds will give you nothing but a loss. Staking is mostly for those who have a patience to wait because it usually takes time for you to earn on using this method. If you want to earn in a quickest possible way then why not venture trading?

That is one risk upon staking as we handed over our tokens to the exchange and whatever it happens to them, we don't have any control of it and do not even have the chance to get out funds from them especially when it was an exit scam. And even it was 1000%APY, as long as I am not sure about the project and the exchange as well, I couldn't make myself gamble.

Well, it's for the OP now to decide after seeing our opinion - but I need for you to think it wisely and do base on what you understand.

RussianEnglishTranslation

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Quote from: zasad@ on July 10, 2022, 09:27:07 AM

Quote from: JamesDaniel90 on July 04, 2022, 09:38:59 AM

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

For 4 months, the price of this coin has fallen 5 times and you want to stake it for 18% per annum. That's funny. It is better to try the same with Atom, Polkadot, Ethereum, these coins are much more reliable and stable.
https://www.stakingrewards.com/

I will take a look at this website. Was varasity the project by the economic guru Reggie? What happened to the project? I'm personally staking some Celo and ICP and getting 3.5% on the Celo (not very good) but 20% on the ICP. I'm glad I got in early on the ICP because the staking APY keeps dropping over time.

fullhdpixel

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Quote from: gurunanakji777 on July 10, 2022, 10:00:32 AM

The fee is really on the higher side If you want to stake then you should go with £500 worth of Verasity so that you will gain a good number of coins through the staking and staking with fewer coins would not be a good idea. I don't like staking because of the rules of staking If you want to withdraw your coins before the end of the staking period you would not get the benefit of staking.

But, I think even if he stake with that said amount, there will still be no change in the fee. I don't know if what is that staking platform he is using now but it would be better if he can mention that site so that many of us here can avoid it.

We don't want our funds to get trapped, the same that happens with the OP but for the OP, you have no choice for now but to continue what you are doing there which is staking since pulling out your funds will give you nothing but a loss. Staking is mostly for those who have a patience to wait because it usually takes time for you to earn on using this method. If you want to earn in a quickest possible way then why not venture trading?

KaliLinux

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Quote from: Note3 on July 05, 2022, 10:25:51 AM

Quote from: JamesDaniel90 on July 04, 2022, 12:43:13 PM

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

I believe that can could happen sometimes however, that is why when it comes to staking you might want to do some checking before deciding on which platform you would stake your coins/tokens in. mycointainer Cold Staking & Delegations gives the option of "stake" delegating coins from your own wallet to any of the nodes without your coins leaving your wallet which I believe this method is safer for staking and whether you decide to stake your coins or not, whatever happens to the price of that coin will still affect your coin but as long as you have invested in the right project, I would rather stake my coins and make some more during the bear market waiting for the Bull season.

gurunanakji777

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The fee is really on the higher side If you want to stake then you should go with £500 worth of Verasity so that you will gain a good number of coins through the staking and staking with fewer coins would not be a good idea. I don't like staking because of the rules of staking If you want to withdraw your coins before the end of the staking period you would not get the benefit of staking.

zasad@

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Quote from: JamesDaniel90 on July 04, 2022, 09:38:59 AM

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

For 4 months, the price of this coin has fallen 5 times and you want to stake it for 18% per annum. That's funny. It is better to try the same with Atom, Polkadot, Ethereum, these coins are much more reliable and stable.
https://www.stakingrewards.com/

LastKiss

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Quote from: JamesDaniel90 on July 04, 2022, 09:38:59 AM

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

Well, if you can hold that long enough then is not a really bad idea tho, since we don't know when this bear market end so it's better to increase our holding right. There are some platforms that I remember that didn't take that much fee and I assume that APY from every site can change depending on their rules. Holding is not a bad idea too since when holding you will have 100% control of your funds. Both of them have their own advantages with their own risks so think carefully.

ilovealtcoins

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Ignoring the quality factor of the project, it is advisable to stake to increase the number of coins held. but you should consider whether your coin really has the potential and the ability to bring you profits. Is the coin you are referring to listed on any major exchanges and have you done any research. Don't just look at the profit it pays you but invest blindly.

fullhdpixel

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Quote from: Kelvinid on July 08, 2022, 06:55:15 AM

Quote from: JamesDaniel90 on July 04, 2022, 09:38:59 AM

The APY for staking this crypto is 18.25% - is this worth doing or due to the fee am I just better off holding?

Don't get me wrong but you are trying to risk your money on a nonpotential project with also having an unrealistic return. Am I saying this why? It is because it was a special offer, far different from the others as even known and the potential projects can't even give that compensation how much more this project that is not working already. As I understand this, they give this offer to make visibility in the market but the question is if they could spend that much on their clients and stakeholders? Or just twist the rewards or simply leave the market (exit scam).

That is literally what half of crypto is doing right now. Many people are looking at projects that are definitely not a big potential and look scammy, and hope for the best in the future. I personally invested into a few of them back in the day, $100 in, $10 out type of stuff.

It's fine and I do not mind it because I knew that I was taking a risk there. I can see why it is not doing great and why people are worried about it, but that doesn't change the fact that we can't make a big deal out of this and hope that all of our wealth would come this way. These are risky small time things where you invest only a small amount and realize you will most likely lose it all.

usekevin

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Staking is good idea to get huge new launched coin for longer period.Based on your holdings usdt,you will get good amount of the tokens.The staking token will credits every day to your wallet.But the bad one is you can’t trade on the same day.After the period mentioned,you can’t sell that tokens.Because holding of token need you huge patience,which gives huge profit to you.

tvplus006

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Quote from: rojan on July 09, 2022, 02:04:36 AM

Staking is a good way to earn money and it will also help you to hold your token long time and you can also get huge profit if you hold token long time. But you have to must stake a good coin and that company must be trusted. And if you stake your coin on any Third party website then it will not safe and you haven’t any control on it. But if you stake your coin on official website then is is safe. Remember do not stake any shit coin then you will lost your money

Staking will bring profit if you are in a bull market, otherwise you will not only not earn, but also lose your savings from the depreciation of the coin that is in the staking. Thus, in order to get a guaranteed profit, you need to place stablecoins, which should keep their value in the bear market.

Shasha80

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Quote from: rojan on July 09, 2022, 02:04:36 AM

Quote from: JamesDaniel90 on July 04, 2022, 09:38:59 AM

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

Staking is a good way to earn money and it will also help you to hold your token long time and you can also get huge profit if you hold token long time. But you have to must stake a good coin and that company must be trusted. And if you stake your coin on any Third party website then it will not safe and you haven’t any control on it. But if you stake your coin on official website then is is safe. Remember do not stake any shit coin then you will lost your money

Although the profits obtained from staking are not as big as trading or long-term investments. However, staking is an alternative that I recommend
for newbies who want to get passive income from crypto. Because we don't need good analytical skills and we don't need to monitor the market too
often if we want to stake. We just need to choose a trusted platform that already has a good reputation, after that make sure we only staking
on popular coins. And most importantly never try staking on shitcoins, because as we know shitcoins often end up as scams, so don't let us lose
money in vain because we take the risk of staking on shitcoins.

rojan

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Quote from: JamesDaniel90 on July 04, 2022, 09:38:59 AM

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

Staking is a good way to earn money and it will also help you to hold your token long time and you can also get huge profit if you hold token long time. But you have to must stake a good coin and that company must be trusted. And if you stake your coin on any Third party website then it will not safe and you haven’t any control on it. But if you stake your coin on official website then is is safe. Remember do not stake any shit coin then you will lost your money

batang_bitcoin

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Quote from: JamesDaniel90 on July 08, 2022, 09:39:12 AM

I have decided not to stake for now and just hold.

On the site they say there is no locked period however it does take 72 hours once I decide to unstake to get my funds and a lot can happen in 72 hours.

I will just hold for now.

There are those type of rules that you have to decide whether you'll go for it or not if you really want to stake. You can compare most of the staking platforms and mycointainer.com then if you're still interested in staking not just with the said altcoin, you can check all of those rates and just choose what's genuine. And if that's what you've decided to do, that's okay since you've said "for now" means that you can change your mind the soonest. There really are different rules and regulations per platform about staking.

RussianEnglishTranslation

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I don't know much about VRA but many POS projects, like ICP, give stakers rewards of up to 20%, so that's not unheard of. I think ICP has a larger marketcap and is a safer investment than VRA though.

Maidak

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Quote from: tvplus006 on July 08, 2022, 03:45:52 AM

Quote from: JamesDaniel90 on July 04, 2022, 09:38:59 AM

Have just bought £100 worth of Verasity (VRA) which got me 24500 total...

The profit received from staking will be noticeable only if you place a large amount of money. To buy and then hold coins for 2 years in order to get a profit of 37% in VRA coins may turn out to be unprofitable, since the value of the coin may decrease several times. Thus, the profit received from staking may be less than the amount of losses received from the depreciation of the VRA.

If you want to make a significant profit in staking, in addition to having a large amount of money, you also have to choose a good coin like BNB or ETH. Because over time their value remains guaranteed and doesn't depreciate, if you stake on shit coins for a long time and shitcoin's price drop makes your stake a loss rather than a profit. Hope OP thought twice before staking on VRA and it won't be a shitcoin.

JamesDaniel90

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I have decided not to stake for now and just hold.

On the site they say there is no locked period however it does take 72 hours once I decide to unstake to get my funds and a lot can happen in 72 hours.

I will just hold for now.

Kelvinid

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Quote from: JamesDaniel90 on July 04, 2022, 09:38:59 AM

The APY for staking this crypto is 18.25% - is this worth doing or due to the fee am I just better off holding?

Don't get me wrong but you are trying to risk your money on a nonpotential project with also having an unrealistic return. Am I saying this why? It is because it was a special offer, far different from the others as even known and the potential projects can't even give that compensation how much more this project that is not working already. As I understand this, they give this offer to make visibility in the market but the question is if they could spend that much on their clients and stakeholders? Or just twist the rewards or simply leave the market (exit scam).

Note3

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Quote from: JamesDaniel90 on July 05, 2022, 11:06:02 AM

Quote from: Note3 on July 05, 2022, 10:25:51 AM

Quote from: JamesDaniel90 on July 04, 2022, 12:43:13 PM

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

I have read it is pretty safe staking with their official wallet.

I either stake it with their wallet or leave it on Kucoin and who knows if there is a problem with Kucoin in the future?

It is starting to feel like holding your crypto anywhere but a hardware wallet is not safe at all.

How can you think hardware wallets are not safe? it will be unsafe if you carry it around with you everywhere you go but its not a possibility of being hacked just being unsafe because it might lose the device.
You should read every member's review here regarding your question and you will find that staking is not only unsafe because your staking place is hacked but you get nothing because in bear times a lot of bad things can happen

Topic: New to staking - is this worth it? - page 2. (Read 703 times)