It's good to stake coins as long as they're the top coins and unlikely to collapse. And it seems you're overwhelmed with the 22% APY that's shown to you by that token.
Remember that it's not always going to be at that range. The more people sees that and demand becomes higher on its staking, the lesser the APY you'll get eventually.
But, only stake with what you can afford to lose and always choose the flexible term for you to withdraw it anytime if ever you got on a staking feature of any platform that requires you to lock your funds.
Topic: Staking Coins With Annual Returns - Good Idea - page 3. (Read 352 times)
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The reason why some altcoin projects or centralised crypto platforms are able to deceive some crypto enthusiasts is because of those percentages of APY; some even offer up to 40% APY or more, and all those are just some means of attracting more customers, and they can end up being scammed. Atomic Wallet has closed-source code, and even if you want to Stake some coins, I think you should use other wallets that are open-source. Just be really knowledgeable about any investment you are making, because some Altcoins are not just worth buying to stake; it is better to buy and just hold for the short term, and when you make a little profit, you can sell and move on. There's a possibility that you can buy a coin and stake it, but after some time the token can be worthless, and even youe AYP, will not be able to save the day.
Buying coins for a big return is short-term. Just scratching the surface of this decentralized world. Staking can be lucrative, but its dangerous.
The 22% annual return on Osmo-USD is appealing, but numbers change quickly. Jumping between coins like "musical chairs"? A waste of time. What makes you think one wont fall before the next?
Talking about 4 high-yield coins. The important word? High-yielding. High returns mean high dangers. A fundamental economic rule. Every coin has market risks, from technological vulnerabilities to regulatory crackdowns.
However, here is my best advice: hold Bitcoin. The gold standard and first cryptocurrency. It has a lengthy history, many users, and loyalty. Bitcoin is the place to invest in something valuable and growing. Don't use these rapid money-making methods. Bitcoin is the world's most significant asset. So, stake or hold? Answer is evident to all: HOLD BITCOIN
The 22% annual return on Osmo-USD is appealing, but numbers change quickly. Jumping between coins like "musical chairs"? A waste of time. What makes you think one wont fall before the next?
Talking about 4 high-yield coins. The important word? High-yielding. High returns mean high dangers. A fundamental economic rule. Every coin has market risks, from technological vulnerabilities to regulatory crackdowns.
However, here is my best advice: hold Bitcoin. The gold standard and first cryptocurrency. It has a lengthy history, many users, and loyalty. Bitcoin is the place to invest in something valuable and growing. Don't use these rapid money-making methods. Bitcoin is the world's most significant asset. So, stake or hold? Answer is evident to all: HOLD BITCOIN
22%? Bro it's very risky. There's no such thing as a project. I'm sure it is a scam. You run the risk of losing your money if you keep staking there. The thing that can provide big profits is investment where there are buying and selling transactions and fluctuations in market prices. Giving fixed interest of more than 10% is something scammers usually do.
Did you miss with OSMO wallet update have been hack last several months? don' be tempted with annual return of coins staking because many coins have been scam when giving bigger return for their coin stake. I think 20% is bigger staking reward for annual and almost coins staking reward under 10% every year. You can check with UST or Luna Network Coin have been scam and price drop drastically depend on their staking reward above 20% and many people loss their fund with unlock coin staking get time more than one day.
Safety staking maybe on stable coins but reward return under 10%, there are risk waiting for with coins give offer for staking reward above 20% and can't exist for long term.
Safety staking maybe on stable coins but reward return under 10%, there are risk waiting for with coins give offer for staking reward above 20% and can't exist for long term.
Do you think it's a good idea to stake coins?
Please explain your opinion.
Please explain your opinion.
No, it is a terrible idea. You are merely looking at the APY percentage, not the fundamentals of the pool you staked. You did now know the security of the platform, the impermanent losses possibility, essentially the foundation that the pool relies upon. Given that, there is no reasonable explanation that would conclude it is even a good idea.
Some people will say what if the price of the coin drastically drops?
But you can say that about any coin you invest in.
But you can say that about any coin you invest in.
Again, you are wrongfully concluded by the wrong thing. A coin has a fundamental and its own value, you merely judge by the price which is truly a bad thing. Also, a coin and a pool are incomparable.
This is how they convince newbies investors with lucrative offers and what's the guarantee you will get those returns as promised? I would say you are chance of losing the coins as well because there are many scam staking platforms also that usually give these offers so you deposit with them but at last turns out to be scam only.So better is to invest for long term holding without such hopes that can lead to sad path.
I want to answer honestly about this and maybe many other people will also have the same answer as me. Or maybe someone will disagree with me. My answer about staking altcoins is that it is highly discouraged and too high a risk. Staking also means that we have to hold quite a long time on the altcoin we are betting on. And I've seen a lot of altcoins drop more than 50% in one year. In fact, many also experienced a decrease of up to 80-90% in one year. So a return of 22% would not be enough to cover the losses due to a decrease in the price of the staked coin.
I prefer to stay holding bitcoins. and if it's about altcoins then Ethereum is what I'll probably be holding for a year or so. For other altcoins I'm still not sure.
I prefer to stay holding bitcoins. and if it's about altcoins then Ethereum is what I'll probably be holding for a year or so. For other altcoins I'm still not sure.
Osmo-USD has been pretty steady for quite some time. It offers a 22% annual return if staked.
Some people will say but that won't last forever. No one knows when the percentage will drop.
If it drastically drops then I can move it to another coin that offers a 22% annual return.
22% APY is very risky and if you need examples, look Terra and Anchor projects.Some people will say but that won't last forever. No one knows when the percentage will drop.
If it drastically drops then I can move it to another coin that offers a 22% annual return.
Anatomy of a Run: The Terra Luna Crash. You can read this article which is your start to find more information about risk of projects that promise to provide too good to be true APY offers.
Terra crashes because of its bad design with algorithmic stable coin, bad management of Luna Foundation Guard and bank runs. Many factors contribute to that crash but bank run is what you will see with other collapses. Algorithmic stable coin and its depeg are not most important causes as with such high APY projects, whenever bank run happen, that project will collapse very quickly because the cash flow is broken.
Atomic wallet was hacked some months ago that led to loss of over $100 million. Is that the wallet you still prefer to use to stake coins? It is better you look for other wallet that you can use.
Atomic wallet is selfish. It only have one validators which is Atomic itself.
If you go to Trustwallet, you will know what I am talking about. Like the Osmosis that you talked about, you will see Atomic as a validators and you will see many other validators that you can choose from to stake the coin. Trustwallet is not an open source wallet and you should know that close source wallet are not trustworthy.
If you want to stake coins like Osmosis, the best wallet for it is still Keplr wallet. It does not fail like Trustwallet sometimes and having many options of validators.
Atomic wallet is selfish. It only have one validators which is Atomic itself.
If you go to Trustwallet, you will know what I am talking about. Like the Osmosis that you talked about, you will see Atomic as a validators and you will see many other validators that you can choose from to stake the coin. Trustwallet is not an open source wallet and you should know that close source wallet are not trustworthy.
If you want to stake coins like Osmosis, the best wallet for it is still Keplr wallet. It does not fail like Trustwallet sometimes and having many options of validators.
Do you think it's a good idea to stake coins?
Please explain your opinion.
If you want to gamble with altcoins, you can also stake them in the process of holding them. But know that you will have to wait for some days before you will be able to have access to a coin after you unstake it. You will be notified that before you successfully stake your coin. Please explain your opinion.
I'm not sure where to put this in the forums. Since I am a beginner, I thought I would put it in the Beginner section.
I have Atomic Wallet.
It offers the highest percent annual return for staked coins.
There are other crypto wallets that offer higher returns but it's not available to US citizens.
Osmo-USD has been pretty steady for quite some time. It offers a 22% annual return if staked.
Some people will say but that won't last forever. No one knows when the percentage will drop.
If it drastically drops then I can move it to another coin that offers a 22% annual return.
Or I could put equal amounts into 4 different coins that offer high yields.
So if one drops I can move it to another coin.
Some people will say what if the price of the coin drastically drops?
But you can say that about any coin you invest in.
Do you think it's a good idea to stake coins?
Please explain your opinion.
I have Atomic Wallet.
It offers the highest percent annual return for staked coins.
There are other crypto wallets that offer higher returns but it's not available to US citizens.
Osmo-USD has been pretty steady for quite some time. It offers a 22% annual return if staked.
Some people will say but that won't last forever. No one knows when the percentage will drop.
If it drastically drops then I can move it to another coin that offers a 22% annual return.
Or I could put equal amounts into 4 different coins that offer high yields.
So if one drops I can move it to another coin.
Some people will say what if the price of the coin drastically drops?
But you can say that about any coin you invest in.
Do you think it's a good idea to stake coins?
Please explain your opinion.
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