Topic: Passive income : Bank interest vs staking - page 2. (Read 1163 times)
Staking is very profitable and I have done it for 2 years in several Dex and Spot Exchanges, of course when compared to Bank Interest is very far, and in my opinion staking is more worth doing, for example I Autostaking in Pancakeswap and gets APY about 65% because I focus and make a coin What I stakes as a long -term investment.
I think staking is more promising big profits than bank interest, as we know that the bank interest is very small, even in my country the bank interest bank is no more than 10% per year, while with staking then we can choose what we want from tens of percent to thousands percent per year.
10% per year? Sounds impossible for a bank on giving out annual interest for your funds stored on them..So i dont really believe on what you have said on here.Try to look on APY of these banks.
https://www.investopedia.com/personal-finance/banks-pay-highest-interest-rates-savings-accounts/
You could even barely see on surpassing 1% which basically shows that staking is worth but we know that risk taking decision
would really be that crucial.
If we talk about staking we don't only talk about how much passive incom you get but also need to consider the price of the coin in the future.
the highest ICP price was around $450 and now the ICP price has dropped drastically to $15. if you invest in ICP at a price of $ 450 and do staking, can the passive income you get cover the losses you experience because the ICP price has dropped dramatically?
That is why it's not advised to buy the coin when its price is high but if ever you already buy the coin at a high price and then it dumps, the best thing that you can do is to strongly hold it and pray that the price will recover and rise soon.the highest ICP price was around $450 and now the ICP price has dropped drastically to $15. if you invest in ICP at a price of $ 450 and do staking, can the passive income you get cover the losses you experience because the ICP price has dropped dramatically?
You can get some returns in staking but that is not enough to recover what you have lost buying at highs. On staking I heard that stable coins can also be used, I think this is one is much better since there's no need to worry that the price will drop in the future. Many people considered this more than the volatile cryptos. It's nice that stable coins are now more useful than before. Now people won't hate stable coins anymore.
I think staking is more promising big profits than bank interest, as we know that the bank interest is very small, even in my country the bank interest bank is no more than 10% per year, while with staking then we can choose what we want from tens of percent to thousands percent per year.
10% per year? Sounds impossible for a bank on giving out annual interest for your funds stored on them..So i dont really believe on what you have said on here.Try to look on APY of these banks.
https://www.investopedia.com/personal-finance/banks-pay-highest-interest-rates-savings-accounts/
You could even barely see on surpassing 1% which basically shows that staking is worth but we know that risk taking decision
would really be that crucial.
I think staking is more promising big profits than bank interest, as we know that the bank interest is very small, even in my country the bank interest bank is no more than 10% per year, while with staking then we can choose what we want from tens of percent to thousands percent per year.
staking also must calculate impermanent loss that maybe occur while our coins price drop, make sure our crypto assets that being stakes for good project which is alredy survive for many years in market. alot staking coins that provide high APY, but its new project which is not proven yet as good currency which is could survive for long time. alot traders now speculating their money for high APY project for short term goal. 
I admit, staking is more profitable than bank interest...
I'm not doing a promotion but right now I'm also staking $cake, the interest/reward I get is really big if I compare it to bank interest. the risk is indeed quite large, such as a decrease in the value of the asset or rugpull, but you must be more selective in choosing your staking platform, don't be easily fooled by a super large APY/ROI, it's better to choose one that only provides a small APY but the platform has a great reputation and good.
I'm not doing a promotion but right now I'm also staking $cake, the interest/reward I get is really big if I compare it to bank interest. the risk is indeed quite large, such as a decrease in the value of the asset or rugpull, but you must be more selective in choosing your staking platform, don't be easily fooled by a super large APY/ROI, it's better to choose one that only provides a small APY but the platform has a great reputation and good.
it's true that staking is more profitable than bank interest, and the risk of staking on an exchange that makes it a dilemma in crypto, bank interest is low but there is a guarantee when our money is lost or the bank said it was robbed if we have complete data we can claim it at a local bank
I think staking is more promising big profits than bank interest, as we know that the bank interest is very small, even in my country the bank interest bank is no more than 10% per year, while with staking then we can choose what we want from tens of percent to thousands percent per year.
10% interest per year? I have plenty of reasons to doubt your statement. A bank, in the best case scenario, provide you with 1-2% interest per year. I get a euro or two every 3 months from my bank, with a relatively decent deposit (not $1-2k). On the other hand, in the worst case scenario, staking stablecoins would get you an average of 15-20% APY. Personally, I had invested $1.000 in UST-BUSD, which is one of the lowest yielding vaults currently, and has already achieved a profit of a few dollars, within a week or two, something that's impossible with a bank.
Staking in crypto is far more rewarding than bank interest. However, there is inherent risk associated with cryptocurrency, so people tend to be scared about investing in Crypto because of volatility.
If I have my way, I won't use the bank to anything. They give you interest but the charges you incure might eat up the interest.
If I have my way, I won't use the bank to anything. They give you interest but the charges you incure might eat up the interest.
I think staking is more promising big profits than bank interest, as we know that the bank interest is very small, even in my country the bank interest bank is no more than 10% per year, while with staking then we can choose what we want from tens of percent to thousands percent per year.
If we talk about staking we don't only talk about how much passive incom you get but also need to consider the price of the coin in the future.
the highest ICP price was around $450 and now the ICP price has dropped drastically to $15. if you invest in ICP at a price of $ 450 and do staking, can the passive income you get cover the losses you experience because the ICP price has dropped dramatically?
the highest ICP price was around $450 and now the ICP price has dropped drastically to $15. if you invest in ICP at a price of $ 450 and do staking, can the passive income you get cover the losses you experience because the ICP price has dropped dramatically?
The higher APY, higher the risk.
You are right, but as long as the risk is worth the gain, then of course we can consider it.Last year I tried to invest in a different way, namely by providing capital to gold traders in trusted jewelry stores with a profit-sharing system. For me it is quite profitable compared to risking less potential assets even though the APY is quite high. However I know what risks I will face when investing in this way but I feel lucky that it has made me a good return.
in terms of profitability and risk factor which i would always be preferring with those traditional ones in speaking with lesser risk but since there are times which we do really love the thrill on investing on
high risk ones then this is the time we do really make out such decisions in terms on touching crypto investments.
The higher APY, higher the risk.
You are right, but as long as the risk is worth the gain, then of course we can consider it.Last year I tried to invest in a different way, namely by providing capital to gold traders in trusted jewelry stores with a profit-sharing system. For me it is quite profitable compared to risking less potential assets even though the APY is quite high. However I know what risks I will face when investing in this way but I feel lucky that it has made me a good return.
Anyway, I also forgot to mention the risk of impermanent loss, which features most of the available vaults now.
The higher APY, higher the risk.
You are right, but as long as the risk is worth the gain, then of course we can consider it.Last year I tried to invest in a different way, namely by providing capital to gold traders in trusted jewelry stores with a profit-sharing system. For me it is quite profitable compared to risking less potential assets even though the APY is quite high. However I know what risks I will face when investing in this way but I feel lucky that it has made me a good return.
Of course, comparing interest banks with staking such as comparing ants and elephants, in my country, banks only give about 10%, whereas now many stakes are giving up to hundreds or even thousands of percent, and this is what makes me prefer to make staking as a top priority for Earning and farming money.
Really?? What kind of project does it gives a thousand or even hundreds of percent yearly return in staking?
Your bank is a very generous too, coz here in my country there is only 1% below interest rate on your savings account.
That's such ridiculous number. I don't know, I'm not a bank expert but If there is something that a bank gives 10% APY, I guess that falls under a specific term and that would be close to investing rather than savings.
Yes, I think that is pure exaggeration. Definitely when this whole staking began, those projects are offering huge APY to attract investors. But as soon as the market is saturated, then slowly bring it down.
So to be safe, anyone should go to a bank if they don't want to take a huge risk on this whole staking crypto games right now.
Certainly, newer vaults will yield a higher performance, till they get saturated by investors and start declining.
Just because the APY is lower, doesn't mean that it is not profitable, nor does it mean it shouldn't be invested. Main reason why the APY is lower is the fact that there are a lot more people investing into it. If you are using stablecoins then the low APY is understandable and you should focus on something else, but if the APY is based on some good token or coin, like for example Cake or BNB ones? Then you could still keep it because it could go up as well.
I personally still hold all my BNB and Cake staking because in the end we are going to end up earning from the staking rewards, but also from the increase in price. I do not trust other networks for the price reason, even though staking rewards could be higher.
I personally still hold all my BNB and Cake staking because in the end we are going to end up earning from the staking rewards, but also from the increase in price. I do not trust other networks for the price reason, even though staking rewards could be higher.
Believe me, coins with a low APY have a lower investment risk than those who not. Especially those that aren't dubbed as "stablecoins". With low interest rates, prices will become relatively stable than all the other way around. If we were to compare between staking and saving money at a bank, we'll notice that staking is much more beneficial to our pockets. That's because the returns are higher with staking crypto than just saving money at a bank.
Decentralized Finance ("De-Fi") is already making strides in the mainstream world, so I wouldn't be surprised if banks adopt the revolution in order to stay ahead of the game. While banks won't go anywhere soon, "De-Fi" will certainly make an impact in the Fintech space. Expect staking to become more popular as crypto takes the world by storm. Just my thoughts
Of course, comparing interest banks with staking such as comparing ants and elephants, in my country, banks only give about 10%, whereas now many stakes are giving up to hundreds or even thousands of percent, and this is what makes me prefer to make staking as a top priority for Earning and farming money.
Really?? What kind of project does it gives a thousand or even hundreds of percent yearly return in staking?
Your bank is a very generous too, coz here in my country there is only 1% below interest rate on your savings account.
That's such ridiculous number. I don't know, I'm not a bank expert but If there is something that a bank gives 10% APY, I guess that falls under a specific term and that would be close to investing rather than savings.
Yes, I think that is pure exaggeration. Definitely when this whole staking began, those projects are offering huge APY to attract investors. But as soon as the market is saturated, then slowly bring it down.
So to be safe, anyone should go to a bank if they don't want to take a huge risk on this whole staking crypto games right now.
Of course, comparing interest banks with staking such as comparing ants and elephants, in my country, banks only give about 10%, whereas now many stakes are giving up to hundreds or even thousands of percent, and this is what makes me prefer to make staking as a top priority for Earning and farming money.
Do you really trust those projects that are giving more than a hundred to thousand of percent APY? They're too good to be true. A bank that gives out 10% is actually good already and someone who has a large fund can rely already on that bank for his other investment.That's going to be my retirement plan to just invest it into a place where it's going to grow 10% of APY or even a little bit higher but it's for a high amount that I'm saving.
Of course, comparing interest banks with staking such as comparing ants and elephants, in my country, banks only give about 10%, whereas now many stakes are giving up to hundreds or even thousands of percent, and this is what makes me prefer to make staking as a top priority for Earning and farming money.
Really?? What kind of project does it gives a thousand or even hundreds of percent yearly return in staking?
Your bank is a very generous too, coz here in my country there is only 1% below interest rate on your savings account.
That's such ridiculous number. I don't know, I'm not a bank expert but If there is something that a bank gives 10% APY, I guess that falls under a specific term and that would be close to investing rather than savings.
Of course, comparing interest banks with staking such as comparing ants and elephants, in my country, banks only give about 10%, whereas now many stakes are giving up to hundreds or even thousands of percent, and this is what makes me prefer to make staking as a top priority for Earning and farming money.
I like the ones between 20 - lower than 100% APY! Hundreds or even thousands percent APY is just too good to be true! I guess it's ok if you catch some projects in the early days, I saw some of them offering good APY to attract people, but even that is risky, it's not so easy to find a solid staking project with high APY that will last! It's ok to try it with some amount you won't regret losing, but I wouldn't trust in staking with over 100% APY with some serious money!
I would always go with staking at all possible times. You don’t even make profit by saving in the bank. And if you even make anything at all from bank savings, it’s not going to be anything reasonable.
So, it is not something that I would consider as an investment. Staking is far much better than it. Except if you are talking about bonds, but even investing money in bonds are not really worth it for me because the profit you would be getting isn't going to be that much compared to what you can possibly gain from staking cryptocurrencies. There are so many good coins that you can stake and make reasonable amount of profit from them before the year runs out.
So, it is not something that I would consider as an investment. Staking is far much better than it. Except if you are talking about bonds, but even investing money in bonds are not really worth it for me because the profit you would be getting isn't going to be that much compared to what you can possibly gain from staking cryptocurrencies. There are so many good coins that you can stake and make reasonable amount of profit from them before the year runs out.
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