the thing with staking your assets is the fact that your money can easily gets crushed by inflation and even worse if something goes on and your money is locked. that's what makes it not worth it usually.
but if you could just hold, despite all the things happening, and just endure, I guess you could encounter many opportunities, but not necessarily gonna grow your money, in the meantime when you locked your money, the altcoins you invested in could turns into some shitcoin which has happened quite many time.
Topic: Staking advice needed - page 2. (Read 600 times)
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I'm sure it depends on which token you are going to stake. Buying them from where the price is way low is a good way to invest while also staking the tokens. And also choosing which token to invest in terms of how or where they're going to be stake.
Some tokens can just be staked within the wallets while some need a platform. If it's the latter, that's where you have the problem when it comes to the unlocking period. Tokens that can be staked within the wallets are much easier to handle as tokens stays in your wallet.
One common problem with staking is the lock-in period that they have set, we can't withdraw and sell them if it was needed as we need until it was available. That is why we should have to think carefully because if that staking only gives us a few percentages, I don't think we have to do that. Besides, we can make some good play while it was on our hands like doing basic trading as it is possible that we can earn more than doing staking. Staking seems effective unless we are committed that we will hold long-term while waiting for the bull season. I'm sure it depends on which token you are going to stake. Buying them from where the price is way low is a good way to invest while also staking the tokens. And also choosing which token to invest in terms of how or where they're going to be stake.
Some tokens can just be staked within the wallets while some need a platform. If it's the latter, that's where you have the problem when it comes to the unlocking period. Tokens that can be staked within the wallets are much easier to handle as tokens stays in your wallet.
I'll give everyone a tip about staking, it's better to have that less APY than to take risk and get those too much APY/APY that you're unsure if the project is gonna be successful.
Most projects that are still on the early stage will do that because it's part of being new and that's sort of enticement to the investors. Usually with high APYs, you'll get attracted to it but you'll be unsure if it will take long as the higher the APY, the lower number of investors involved.
I think there is also a staking platform that allows you to unstake your coins anytime or after some days or weeks. This is perfect if you are staking new coins which you are doubting if they will be successful in the long term or not. For the older coins like for example ETH, their staking time is usually a year or can be longer than that. The minimum coin to be staked is also much higher.Most projects that are still on the early stage will do that because it's part of being new and that's sort of enticement to the investors. Usually with high APYs, you'll get attracted to it but you'll be unsure if it will take long as the higher the APY, the lower number of investors involved.
I think this is only perfect for those whales and institutions. For us retailers we can only hodl the old coins and we can still make a profit with it. The good about simply holding a coin is there are no commitments but we are free to sell our coins anytime we like.
And it's also an advantage to choose that term so, having lesser APY but you're also allowed to unstake anytime as you wish. That's the best choice that someone who's into staking can do.
ETH's staking is different and it's more advisable to just hold it if you don't have that much rather than joining a pool. But if you insist and wants to help the network with your < 32 ETH then you're required to join a pool.
i'd just prefer to become LP instead of staking and locking your money, at least with LP you got some good fees and then you have the leisure of withdrawing your money anytime. even though the money gained maybe lower than staking, still the fact that you could always remove your LP and get your money back seems promising.
For a long term holder / investor, what are the risks available with staking coins and tokens that you plan to hold for a long period of time? I want to know if its safe to keep your coins in staking instead of just holding them in a wallet when your ultimate plan is to hold for long term.
Benefits -
Staking can be a great way to earn rewards while holding onto your investments for the long term.
Risks -
Staking typically involves locking up your coins for a certain period of time, which can limit your ability to sell or move them quickly.
Staking with an unreliable or malicious validator can put your investment at risk.
Blockchain networks can undergo hard forks or technical difficulties that could impact the value of your staked coins.
Tips -
Choose a reputable validator to stake your coins with.
Do your own research and stay up-to-date on news and developments in the blockchain industry to make informed investment decisions.
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I'm sure it depends on which token you are going to stake. Buying them from where the price is way low is a good way to invest while also staking the tokens. And also choosing which token to invest in terms of how or where they're going to be stake.
Some tokens can just be staked within the wallets while some need a platform. If it's the latter, that's where you have the problem when it comes to the unlocking period. Tokens that can be staked within the wallets are much easier to handle as tokens stays in your wallet.
I'm sure it depends on which token you are going to stake. Buying them from where the price is way low is a good way to invest while also staking the tokens. And also choosing which token to invest in terms of how or where they're going to be stake.
Some tokens can just be staked within the wallets while some need a platform. If it's the latter, that's where you have the problem when it comes to the unlocking period. Tokens that can be staked within the wallets are much easier to handle as tokens stays in your wallet.
I prefer to hold than to stake, because I feel at ease holding my coins in my wallet than waiting for an unlock period for a few coins to get my initial amount out of the platform, also it's risky because something could happen to the staking platform any time, if you like staking your coin make sure you stake inside your non custodial wallet, do not send your coins to another platform for staking.
it's better for you to hold onto the coins in the long run than to gamble to stake, it's too risky. because I've experienced it.
In addition, some betting systems are irrevocable in the procedures they make for example a minimum time frame of 1 month. correct me if wrong
In addition, some betting systems are irrevocable in the procedures they make for example a minimum time frame of 1 month. correct me if wrong
Staking coins could be good, especially the likes of altcoins that come with a good profit of APR/APY. Stable coins wouldn't generate for you more profit but it's all an add-up compared to just having your coins stored im a cold wallet and expecting it to dance to bull run tunes.
Although staking is a popular way to earn rewards in the cryptocurrency market, I have not personally engaged in it. I prefer to store my funds in a non-custodial or hardware wallet, as I am not willing to take any risks with my investments. With the numerous dramas and uncertainties surrounding the crypto market, I prefer to avoid potential pitfalls and safeguard my assets in my own hardware wallet. Staking involves significant risks, including a locked period and market volatility, both of which are unsuitable for my investment strategy. Therefore, I choose to stay away from staking altogether.
on the other hand, i tried staking several coins in the past. what i learned was, you need to follow your instincts and sell off if you feel the project is about to lose its good performance in the market. don't hold too long, because you may end up holding bag of worthless coins. a lot of staking coins are already dead now, and yet some holders are still holding them. there's no reason to hold such useless coins, it will just give you heartache as you will remember the wasted resources you've put into.
For a long term holder / investor, what are the risks available with staking coins and tokens that you plan to hold for a long period of time? I want to know if its safe to keep your coins in staking instead of just holding them in a wallet when your ultimate plan is to hold for long term.
An obvious risk in staking coin to a site is the possibility of a rug pull. If the site decided to run with your funds and scam people who are staking on the platform, you cannot do anything but to accept the losses sine the funds lost in a rugpull cannot be recovered unless the person who scam you are caught and still holding the fund.
If the reputation of the site that is offering staking services is yet established, then I think it is better to just hold the coins or token if you are planning for a long term. But if the platform is reputable and you plan to hold the token for a long time, it is better to stake that coins/token to the reputable platform while waiting. This way your holdings will slowly increase giving you more profit in time when the selling price is hit.
Although staking is a popular way to earn rewards in the cryptocurrency market, I have not personally engaged in it. I prefer to store my funds in a non-custodial or hardware wallet, as I am not willing to take any risks with my investments. With the numerous dramas and uncertainties surrounding the crypto market, I prefer to avoid potential pitfalls and safeguard my assets in my own hardware wallet. Staking involves significant risks, including a locked period and market volatility, both of which are unsuitable for my investment strategy. Therefore, I choose to stay away from staking altogether.
I'll give everyone a tip about staking, it's better to have that less APY than to take risk and get those too much APY/APY that you're unsure if the project is gonna be successful.
Most projects that are still on the early stage will do that because it's part of being new and that's sort of enticement to the investors. Usually with high APYs, you'll get attracted to it but you'll be unsure if it will take long as the higher the APY, the lower number of investors involved.
I think there is also a staking platform that allows you to unstake your coins anytime or after some days or weeks. This is perfect if you are staking new coins which you are doubting if they will be successful in the long term or not. For the older coins like for example ETH, their staking time is usually a year or can be longer than that. The minimum coin to be staked is also much higher.Most projects that are still on the early stage will do that because it's part of being new and that's sort of enticement to the investors. Usually with high APYs, you'll get attracted to it but you'll be unsure if it will take long as the higher the APY, the lower number of investors involved.
I think this is only perfect for those whales and institutions. For us retailers we can only hodl the old coins and we can still make a profit with it. The good about simply holding a coin is there are no commitments but we are free to sell our coins anytime we like.
I'll give everyone a tip about staking, it's better to have that less APY than to take risk and get those too much APY/APY that you're unsure if the project is gonna be successful.
Most projects that are still on the early stage will do that because it's part of being new and that's sort of enticement to the investors. Usually with high APYs, you'll get attracted to it but you'll be unsure if it will take long as the higher the APY, the lower number of investors involved.
Most projects that are still on the early stage will do that because it's part of being new and that's sort of enticement to the investors. Usually with high APYs, you'll get attracted to it but you'll be unsure if it will take long as the higher the APY, the lower number of investors involved.
The first one that I think everyone needs to be aware of in terms of the risk of not being profitable, along with that for long term holders/investors, there are some possible risks when placing a bet. on coins and tokens that they intend to hold for a long time as the cryptocurrency market can change very quickly and unpredictably. The price of cryptocurrencies and tokens can suddenly increase or decrease, and this can affect the value of your investment. And as a matter of security, if you store your funds in an unsafe or improperly protected electronic wallet, you may lose your funds due to cyber attacks or technical failures.
Most crypto exchanges encourage investors to stake their coins for additional rewards.
Well, I think OP you should have to understand first what is staking. Don't even try this if you don't have any idea, never try this if you are not sure about this, and most of all, you should know the risk.
Honestly, staking gives you just a penny while these exchanges are earning more from it. It is just like a bank as the depositors get only a few percentages while they are benefiting more.
Well, I think OP you should have to understand first what is staking. Don't even try this if you don't have any idea, never try this if you are not sure about this, and most of all, you should know the risk.
Honestly, staking gives you just a penny while these exchanges are earning more from it. It is just like a bank as the depositors get only a few percentages while they are benefiting more.
For a long term holder / investor, what are the risks available with staking coins and tokens that you plan to hold for a long period of time? I want to know if its safe to keep your coins in staking instead of just holding them in a wallet when your ultimate plan is to hold for long term.
The risk of holding PoS coins is market uncertainty. They're often subject to wild fluctuations in price, especially if they have high inflation rates. Most of the PoS coins you see on the top ranks in market cap, have a system where you "delegate" coins to validators or third-parties. It makes them centralized and subject to failure in the long run. Old PoS coins like Blackcoin, Diamond (DMD), and Peercoin are much more decentralized as they allow you to stake your coins in your own wallet. But the downside is that you need to leave the wallet open 24/7 if you want to increase your chances of earning from your stake.
If you want to play it safe, just stake ETH at a decentralized staking pool (eg: Rocket Pool or Lido.fi) and you're good to go. You can also stake tokens if you want by making a deposit in a liquidity pool. As long as you don't invest more than what you can't afford to lose, there should be nothing to worry about. Just my two cents
For a long term holder / investor, what are the risks available with staking coins and tokens that you plan to hold for a long period of time? I want to know if its safe to keep your coins in staking instead of just holding them in a wallet when your ultimate plan is to hold for long term.
I had a nasty experience with some tokens I staked last year. At first, I was scared going into it but after a while with conviction from another crypto friend I jumped in. It was an enjoyable experience until that which I dreaded happened. I was compounding my tokens on the site I staked them. Then one day I tried to access the site only to discover that the site was down. Later, I discovered that it had scammed. It was like a dream to me. I lost a lot of funds in that encounter but then that's business. Life goes on. It still won't stop me engaging in staking if I see an enticing offer again. 
Staking for long term gain is a whole lot of risk compared to just holding. Most staking platform promise insane APY that sounds to good to be true and they mostly end up becoming scam at the long run. So if long term is your plan, I'd advise you to just hold it for as long as tou want.
To avoid this you need to stake to well known non custodial wallets which you know they will be with us,I say wallets because I rarely have seen any going away while I have seen a lot of exchanges,even super big ones fail miserably,FTX being the latest in these events.I personally stake Zilliqa in Atomic Wallet and the rewards they promise,they keep growing every day in my balance,I know I can withdraw them anytime,my only regret is not having much more money to buy and stake much more Zilliqa than my 8,000 which gives me about 2.5 Zilliqa a day in rewards from staking.
I think crypto staking is indeed more profitable than just relying on a percent of bank interest, and crypto staking is also safe to do in the long term, this depends on what coin you want to stake, my advice is BNB staking is more profitable and safe
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