Topic: New to staking - is this worth it? (Read 734 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.
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.
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?
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.
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.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
https://www.stakingrewards.com/
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?
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
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.
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.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
https://www.stakingrewards.com/
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
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.
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.
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). 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.
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.
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.
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 moneyHave 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
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.
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 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
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. 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.
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.
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.
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.
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.
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 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.
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
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.
Don't stake if it wants you to do it on an exchange or if the amount you staking is rather low. It'd be better to stake if you have a huge amount of that certain coin and then stake them if you're not particularly doing anything (shorting) with it. Also the APY being 18% seems kinda doubtful. You're free to stake it but make sure you can immediately withdraw whenever you want so that you can avoid getting taken advantage of so you can still leave/sell at a profit if needed.
do not stake inside an exchange you will not be able to take it out any time.
staking is wroth if you have a ton to invest on the coin. I have no idea with VRA but there are many tokens that is worth staking. Cardano seem to be worth it because right now there are many developers moving there and mostly doesn't need investing but ISPO.
This is one more risk we see and I believe OP researched all of the above to decide to enter staking on this VRA token. As long as the OP has done his own research and accepts the risks he may take with his decision, he can invest wherever he chooses. ADA looks like a good coin but I bet he wouldn't choose it over VRA.
I am not a fan of staking. Others may have a favorable experience with staking, but I don't think it is worth the risk. Especially in the past weeks when the news are full of stories about custodial services which include staking products that failed. There are also hacks and rug pulls.
The risk is not worth taking. I would rather keep my coins with me. I prefer hodling even if its doesn't give me annual yield. With staking, anything could happen to your coins because they're not under your control.
The risk is not worth taking. I would rather keep my coins with me. I prefer hodling even if its doesn't give me annual yield. With staking, anything could happen to your coins because they're not under your control.
do not stake inside an exchange you will not be able to take it out any time.
staking is wroth if you have a ton to invest on the coin. I have no idea with VRA but there are many tokens that is worth staking. Cardano seem to be worth it because right now there are many developers moving there and mostly doesn't need investing but ISPO.
I wouldn't trust in such interest rates being guaranteed. 5%-6% annually is usually what most investments can return, now imagine 18,5%. There is something catchy between the lines... Don't expect 18,5% profit, because when the interest is too high, it means the currency is going to lose a lot of value as the time goes by, so the interest received compensate the devaluation of the token. Similar to countries paying high interest on saving accounts annually, but with high inflation rates at same time. They give with one hand and take away with the other.
If besides the interest rate there is nothing else this cryptocurrency offers to you, I think it's better to not invest.
Honestly, 18.5% is very attractive, and greedy people will think I'll be earning huge if I invest and staked. But, they never think about the risk of such an idea, as it was likely impossible for the company to offer such huge rewards to the holder which in fact, they are just about to start, unless if they are a well-established company. If besides the interest rate there is nothing else this cryptocurrency offers to you, I think it's better to not invest.
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 my opinion, there are some factors that you must consider before staking your tokens (Verasity (VRA)).I plan to hold for 18-24 months.
- Is the staking platform trusted and reputable? You need to check and analyze the platform to minimize the risks of scams or even closed platforms because you are going to stake for long term
- Is the token (Verasity (VRA)) exactly worthy of holding? I mean are you sure that this token has a high chance to rise up again in the next bullish era (maybe 2 years ago)? because if the token cannot survive during this bearish market era and cannot rise up in the next bullish era, this may mean that you may lose your funds after the time you are ended of staking
- Commonly, if you are staking the token in a certain period, you will not be able to withdraw them before the period of staking ends, right? Have you considered about this?
If you have understood about this and you are readyw itha ll the risks, just go for it.
18% return feels also a bit like the too good to be true story…
that's for yearly return and that's still make sense compared when you are seeing a project that was offering 18% return in monthly basis. In my opinion if 18% for a year is still make sense from the various aspects. I meant you must also try to look at the fact. In my opinion if this can be seen from the various aspects. it was offering less than 1,8 percent return for a month which is still low compared when you are seeing farming on BSC or pancake.
You have to be careful with this quick rich scheme OP. You can't just disclose the idea and scam tricks that have been commonly used by scammers. It was best to invest and just hold your funds in this situation in that way, you can assure that your money is safe.
I wouldn't trust in such interest rates being guaranteed. 5%-6% annually is usually what most investments can return, now imagine 18,5%. There is something catchy between the lines... Don't expect 18,5% profit, because when the interest is too high, it means the currency is going to lose a lot of value as the time goes by, so the interest received compensate the devaluation of the token. Similar to countries paying high interest on saving accounts annually, but with high inflation rates at same time. They give with one hand and take away with the other.
If besides the interest rate there is nothing else this cryptocurrency offers to you, I think it's better to not invest.
Honestly, 18.5% is very attractive, and greedy people will think I'll be earning huge if I invest and staked. But, they never think about the risk of such an idea, as it was likely impossible for the company to offer such huge rewards to the holder which in fact, they are just about to start, unless if they are a well-established company. If besides the interest rate there is nothing else this cryptocurrency offers to you, I think it's better to not invest.
I wouldn't trust in such interest rates being guaranteed. 5%-6% annually is usually what most investments can return, now imagine 18,5%. There is something catchy between the lines... Don't expect 18,5% profit, because when the interest is too high, it means the currency is going to lose a lot of value as the time goes by, so the interest received compensate the devaluation of the token. Similar to countries paying high interest on saving accounts annually, but with high inflation rates at same time. They give with one hand and take away with the other.
If besides the interest rate there is nothing else this cryptocurrency offers to you, I think it's better to not invest.
If besides the interest rate there is nothing else this cryptocurrency offers to you, I think it's better to not invest.
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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 really a good option for the current market, if you are holding tokens and don't have time to sell high instead of holding, you can stake to increase that number of tokens. I am not familiar with the coin that the OP is staking on, but it would be nice if it was on Binance. VRA is on Binance, so it is definitely a coin worth a look.
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 really a good option for the current market, if you are holding tokens and don't have time to sell high instead of holding, you can stake to increase that number of tokens. I am not familiar with the coin that the OP is staking on, but it would be nice if it was on Binance. VRA is on Binance, so it is definitely a coin worth a look. 
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
Why don't you do the math and check for yourself if it is worth paying the withdrawal fee to stake it in your wallet or not. If you are willing to hold for 18 to 24 months, you will be receiving around around 4,000 to 4,500 verasity which is very much more than the withdrawal fee. So yeah, withdraw and then stake it.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
Even if the rewards might be small, it is still worth it moving the coins from the exchange to your wallet. Much safer, more control.
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
These that you to consider upon staking, 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
1. The exchange you use - must be reputed
2. Term and condition - just choose short-term so you can withdraw immediately if you need or there is something happen with the exchange
3. Riks - you are handling over your coins to them (exchange) that is why you have to check their reputation prior to deposit
4. Never expect passive rewards - well, 18.25% is big enough compared to bank deposit
But if you can manage trading or having a knowledge about it, I suggest not to stake.
I have to say its not the "ideal" situation to have staking as "inflation" causer to be honest. Mining and staking are the two methods where you create more coins and tokens, I never truly understood why we needed that. I get that we need to securely transfer money from one address to another, and mining and staking makes sure its a safe and secure transfer. But couldn't we find a better way? Why we print more into the market in order to that? It is dropping the value of it. In any case, shitty coins will have shitty staking returns, good ones will have good returns.
Staking operations are a very troublesome situation in this period. The reason I say this is because there are restrictions. Because when things go wrong, you can't withdraw your money before the day is up, as staking is based on locking logic on many platforms. As a matter of fact, when things go wrong for that project, you can suffer serious losses. But if there are no locks or restrictions, it might make sense. I suggest you do your staking with these in mind. In addition to this, you can also look at evmos transactions. While many cryptocurrencies are experiencing serious decreases, evmos is currently standing upright like a castle. The daily return is also very good.
In Vesting for multiple stages of withdrawals and futures only about 30% of the generated amount is really not a good solution for staking. If I were you, it's better not to use a party that doesn't guarantee you can withdraw the entire balance you bet. Plus it's a clear bear market for altcoins that will be hit even harder and you'll only lose more. Don't let the bear market force you to hold altcoins long term.
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.
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.
If it goes to zero then i only lose the amount of money I put in to begin with and because I am getting in now at these very low prices, it is not much I am risking.
If however it does a 20-50x from current price by 2024 which is possible, then I will be in the money if I stake for a while.
The more I think about it the more staking sounds like it is worth the risk.
I read somewhere to make sure you know where the funds come from to pay you for staking. If you don't know where the funds come from to pay investors, then chances are that they're coming from people like you making the investment.
Staking is tempting because everyone wants passive income, but if the staking is just diluting your investment then it isn't going to be a positive thing for you.
In short, do your research, know where the profits are coming from that you're counting on when making your investment. That being said, I have recently staked mSAND in the Sandbox and really like what they're building over there.
Staking is tempting because everyone wants passive income, but if the staking is just diluting your investment then it isn't going to be a positive thing for you.
In short, do your research, know where the profits are coming from that you're counting on when making your investment. That being said, I have recently staked mSAND in the Sandbox and really like what they're building over there.
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.
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.
It's a good choice if you know what you are up to and what you think is the right strategy for you to handle during this bear market. You choose what is best for you at this current time.
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.
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.
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.
Staking isn't worth right now since the market is bearish and volatile, you lost more than you are able to earn from staking. Not to mention many investment sites can also stop their service and you can't withdraw your stakes. Example: Celsius network, Voyager,...
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.
Compared to bank its more generous actually. But it has cons like mostly they mentioned it will be staked with certain period and almost same like time deposit but the value could go lower or worst way lower than its actual value unless you are staking a stablecoin which moves little frequently. Altcoins are very volatile its either you lose more than % yhan what you stake or eirher you gain a lot and will be basing on actual value of what you get.
If anyone could advise on the above or on staking in general if it is worth it.
The network used by VRA is the ERC20 network, in general the ERC20 network is expensive, it depends on the type of crypto exchange service, wallet, you use, some services there are those that cut 402 VRA up to 1,724 VRA, if you move/bet to another place, if you send 24500 VRA, discount 1500 VRA, you will receive 23,000 VRA and so on.Considerations and advice, if you can sell your VRA, sell it in USDT, choose the Tron network, at a low cost, and send the service you want, you buy another VRA and bet there, even though the cost of the tron network usdt is only 1-2 usdt, compared to the current VRA/$0.004 price, you are still saving instead of having to throw away 1500 VRA, the decision is yours.
I hope you understand what I'm saying.
If you have to stake your coins on a third-party service, you don't have control on it. That service can be compromised, bankrupted and will no longer be able to pay staking reward to their users, including you. It's a first and biggest risk.
Another risk is in theory, you will receive higher total coin by staking, and in the end of your staking but will its total value increase or be the same as initial one or worse, will be lower?
Remember, we are in a bear market and price can fall more. Think of such risks before you join staking.
Another risk is in theory, you will receive higher total coin by staking, and in the end of your staking but will its total value increase or be the same as initial one or worse, will be lower?
Remember, we are in a bear market and price can fall more. Think of such risks before you join staking.
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.
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
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