I am damn sure that if you are not confident about the token you are staking itself, then it would be a hard situation. Yes, you can calculate it like that today, but are you 100% sure that in 18 months it is going to be like that?
For example, if you invest and stake a token that goes down so much that it turns out it was a scam and becomes zero, or happens to be like Luna, what are you going to do? This is why we should always be picking the coin itself, and not the mathematical calculation of what looks profitable. I have seen memecoisn with 5000% returns, do you really think that it would actually give me 5000% returns? Of course not, that is why pick the project, not the return.
Topic: New to staking - is this worth it? - page 4. (Read 703 times)
Right so I have just bought more VRA so I now have 36500 total (£150 investment).
After the withdrawal fee from Kucoin I will have 35000 to stake.
18.25% is the staking reward and there is no lock up period, I just have to wait 72 hours until I have access to my funds.
Can someone please confirm I have worked this out correctly ..
35000 VRA staked @ 18.25% = 6387.5 VRA per year (122.5 VRA per week).
If i have the above correct then I will get back my Kucoin withdrawal fee in 12 weeks which doesn't sound too bad.
Is this worth doing?
After the withdrawal fee from Kucoin I will have 35000 to stake.
18.25% is the staking reward and there is no lock up period, I just have to wait 72 hours until I have access to my funds.
Can someone please confirm I have worked this out correctly ..
35000 VRA staked @ 18.25% = 6387.5 VRA per year (122.5 VRA per week).
If i have the above correct then I will get back my Kucoin withdrawal fee in 12 weeks which doesn't sound too bad.
Is this worth doing?
Given the calculation is correct, any positive outcome is worth doing. Though there is some concern about the interest rate. Is it fixed or does it adjust according to the volume of deposit put into that staking program? Since I saw some staking coins where it reduces the interest the more participants it got. I believe you better check this thing out.
@JamesDaniel90, If you want to keep your $VRA tokens staking for a period of 18 to 24 months, I think you better do it. The withdrawal fee of 1500 $VRA is cheap compared to the benefits you will get from staking $VRA. 24,5K $VRA - 1,5K $VRA = 23K $VRA, Staking: 23K $VRA * 0,1825 = 4197,5K $VRA. You will get 4796 $VRA, if you staking for at least 18 months, this 4796 $VRA includes withdrawal fee.
Right so I have just bought more VRA so I now have 36500 total (£150 investment).
After the withdrawal fee from Kucoin I will have 35000 to stake.
18.25% is the staking reward and there is no lock up period, I just have to wait 72 hours until I have access to my funds.
Can someone please confirm I have worked this out correctly ..
35000 VRA staked @ 18.25% = 6387.5 VRA per year (122.5 VRA per week).
If i have the above correct then I will get back my Kucoin withdrawal fee in 12 weeks which doesn't sound too bad.
Is this worth doing?
Yes, the calculation you've got is correct. If you're satisfied with that return for that token, then you let it stake there and just take your profits afterward. But, the thing in staking is despite the percentage for your return, the value of that token might go lower or higher. So that's the pros and cons that you have to take before doing it, lucky if the value goes higher.After the withdrawal fee from Kucoin I will have 35000 to stake.
18.25% is the staking reward and there is no lock up period, I just have to wait 72 hours until I have access to my funds.
Can someone please confirm I have worked this out correctly ..
35000 VRA staked @ 18.25% = 6387.5 VRA per year (122.5 VRA per week).
If i have the above correct then I will get back my Kucoin withdrawal fee in 12 weeks which doesn't sound too bad.
Is this worth doing?
18% return feels also a bit like the too good to be true story…
On mycointainer.com, they've got a few assets that are higher than 18%. And for other platforms, like pancakeswap, they've got assets for staking that are actually more than 18% APY and can reach more than 100+%.We are in a bear market, yes prices will fall lower then they currently are but in the longer term they will rise so its good time to stake now no?
With this crypto for example, their all time high is £0.06 and the price I bought at was £0.004. So to get back to all time high, which I think it will and more, i will 15x my investment.
I am still 50/50 if I should stake as I read there is also a withdrawal fee when unstaking so sounds like a lot of fees to me, for now I am just holding.
Right so I have just bought more VRA so I now have 36500 total (£150 investment).
After the withdrawal fee from Kucoin I will have 35000 to stake.
18.25% is the staking reward and there is no lock up period, I just have to wait 72 hours until I have access to my funds.
Can someone please confirm I have worked this out correctly ..
35000 VRA staked @ 18.25% = 6387.5 VRA per year (122.5 VRA per week).
If i have the above correct then I will get back my Kucoin withdrawal fee in 12 weeks which doesn't sound too bad.
Is this worth doing?
Yes, the calculation you've got is correct. If you're satisfied with that return for that token, then you let it stake there and just take your profits afterward. But, the thing in staking is despite the percentage for your return, the value of that token might go lower or higher. So that's the pros and cons that you have to take before doing it, lucky if the value goes higher.After the withdrawal fee from Kucoin I will have 35000 to stake.
18.25% is the staking reward and there is no lock up period, I just have to wait 72 hours until I have access to my funds.
Can someone please confirm I have worked this out correctly ..
35000 VRA staked @ 18.25% = 6387.5 VRA per year (122.5 VRA per week).
If i have the above correct then I will get back my Kucoin withdrawal fee in 12 weeks which doesn't sound too bad.
Is this worth doing?
18% return feels also a bit like the too good to be true story…
On mycointainer.com, they've got a few assets that are higher than 18%. And for other platforms, like pancakeswap, they've got assets for staking that are actually more than 18% APY and can reach more than 100+%. 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.
I have to say I believe it is about the token/coin more than about the system. For some coins there are amazing mining returns, and for some there are amazing staking returns. The same could be said for the opposite, there are some with mining that makes no money, and some staking that makes no money.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.
So, it is never about the system of it, it is all about the project. Are there projects out there who would be awesome to do as a staking method and make money? Of course there are some, and they are amazing and it would make sense to go with it. But, there are also some that suck big time and you shouldn't get close to it at all, which is the main problem.
18% return feels also a bit like the too good to be true story…
Stacking is not ideal in a bear market situation because it means that these platforms do not have enough money, most of these companies generate money from providing lending service to other platforms and so on.
In addition, if Stacking is not decentralized and you are not able to withdraw your money as you wish, then the Stacking may be closer to a useless gambling.
It is better to invest in traditional methods or Bitcoin.
In addition, if Stacking is not decentralized and you are not able to withdraw your money as you wish, then the Stacking may be closer to a useless gambling.
It is better to invest in traditional methods or Bitcoin.
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.
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.
In general i would say that staking is usually always worth it if you are planning to hold for a long time anyway. Why just hold the coin in your wallet doing nothing when you can just stake it and get a nice APY on top. In your case that would be 18,25% which is quite a lot. A pretty high APY like that can always be harmful to the price.
You are planning to hodl the coin anyway so i don't see any reason why you should not stake them, if you don't have to do a weird time lock or something on your tokens where you can not really react to the market anymore. You have to check that. There are protocols that only let you withdraw like 1 or 2% per day once you have locked them for staking.
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 controlI 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.
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 never bought a coin because it can be staked however it's very tempting to me to leave them on an exchange when there is a (material) staking option.
Right so I have just bought more VRA so I now have 36500 total (£150 investment).
After the withdrawal fee from Kucoin I will have 35000 to stake.
18.25% is the staking reward and there is no lock up period, I just have to wait 72 hours until I have access to my funds.
Can someone please confirm I have worked this out correctly ..
35000 VRA staked @ 18.25% = 6387.5 VRA per year (122.5 VRA per week).
If i have the above correct then I will get back my Kucoin withdrawal fee in 12 weeks which doesn't sound too bad.
Is this worth doing?
After the withdrawal fee from Kucoin I will have 35000 to stake.
18.25% is the staking reward and there is no lock up period, I just have to wait 72 hours until I have access to my funds.
Can someone please confirm I have worked this out correctly ..
35000 VRA staked @ 18.25% = 6387.5 VRA per year (122.5 VRA per week).
If i have the above correct then I will get back my Kucoin withdrawal fee in 12 weeks which doesn't sound too bad.
Is this worth doing?
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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.
No lock up sounds good for me caused by you can take your token anytime. The vesting has become the main problem why staking is not so profitable caused by a chance to lose your capital due to the volatility. The must become your main concerna and it sounds like APY was good enough as well. Majority of people who have been losing their money caused by the lock period that happened with their tokens. I meant if people would not able to cut loss their investment caused by it was getting locked.
That must become your main consideration when doing staking
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I think staking is still worth it try but you need to search for the right coin or token. I do not know how about VRA but you should search for more information to know if that is worth it. It is better if staking VRA is not locked so you can sell it if the price increases, but if the coin is locked, you can not do anything if the term is not yet. And if Binance has VRA staking, you can use Binance to stake as I guess that is worth it.
Staking is worth it if you are holding that token for mid to long term but short term, it's not and it would be better if you just trade it than to stake. Staking is worth it depending on different factors.
Right now that we are in a bear market, I'm holding some staking coins and currently they are staked in a wallet that I have control with. Instead of selling it and panicking right now, I'd rather store it and let it grow thru staking rewards. They are my mid to long term holdings anyway so I have no problem with it. Staking has risk depending on the coin that you are holding. If you are holding a coin that has low market cap then it's prone to it getting abandoned as it is relatively new. If you will hold a coin that has a high market cap and existing for a longer time then you are safer.
This site will help you pick a coin you want to stake with: https://www.stakingrewards.com/
Right now that we are in a bear market, I'm holding some staking coins and currently they are staked in a wallet that I have control with. Instead of selling it and panicking right now, I'd rather store it and let it grow thru staking rewards. They are my mid to long term holdings anyway so I have no problem with it. Staking has risk depending on the coin that you are holding. If you are holding a coin that has low market cap then it's prone to it getting abandoned as it is relatively new. If you will hold a coin that has a high market cap and existing for a longer time then you are safer.
This site will help you pick a coin you want to stake with: https://www.stakingrewards.com/
If you stake it on the right time it sure will be worth it, now for example, most of the crypto price is still low, so you expect the price to bounce at the end of your staking period. But if you only hoping to get some money from it's APY, you will more likely to lose some money.
If you wanna hold that for at least 1,5 years and then just staking it. The accumulation for reward from the staking is even more compared with the fees. Remember that if VRA was also going down so hard. The possibility to get the capital gain from holding your VRA will be adding more value to your portfolios. If such APY was real and it sounds good to stake it for long term but remember that if there's no guarantee if this token can still exist until next years.
If you have agreed with your choice and you must have dealt with the risk.
Obviously, your strategy is based on which coin at the lowest cost per coin will yield the most interest for the year. This strategy fails most of the time for two reasons. The first reason is that the coin may devalue greatly in the future and at best, the interest on the stake will only cover the losses from the lost value of your purchased coins. The second reason is that APY can become floating at any time and you will not get the claimed 18.25% that the service promised you. From this we can conclude that this steaking is an extremely risky business.
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.
Staking in bear market is good for the growth of your portfolio imo. The market has given you the opportunity to buy your favorite tokens at a very cheap price and stake them for certain percentage in returns. imagine those that want to stake sol, dot, near or any other good top alts for so long but the high price hasn't make it easy for them to buy a good amount that will yield enough reward but with this bear market you are able to afford to buy more. The good part is, you buy your coins cheap, stake them to get more while holding for the next bull season.
This is a good decision if you ask me. Always look for reputable staking platform to stake, mycointainer also offers good apy for staking.
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