Topic: Staking Coins With Annual Returns - Good Idea (Read 346 times)
Definitely the best plan but you need to collect the best tokens in crypto to stake. Because stake programs pay out rewards over a fixed period of time, good projects have less risk. There are a very small number of top coins that have staking programs in place just to keep the holders in control. If you have more amount of money then it will be profitable for you but also you should follow other steps of investment.
my general rule of thumbs with these staking coins, if its new coins stake no more then very few months like 1 month or 2 months, if its stablecoin then stake for maybe long term because usually you might get good return for long term investment but usually you will need massive capital with this one.
remember that with staking the bigger money you are staking the more rewards you usually gonna get its no exception with stablecoin and even ordinary coin in general.
but always remember project that overpromises with their massive APY usually they are just shitty projects honestly.
remember that with staking the bigger money you are staking the more rewards you usually gonna get its no exception with stablecoin and even ordinary coin in general.
but always remember project that overpromises with their massive APY usually they are just shitty projects honestly.
Some coins do have good APY (beware of coins that give you very high APY. Google it and you will know why it is bad) and if you are holding those coins, why not stake it? The rewards can be considered as extra profit while holding your coins. There are coins that you can stake without have to lock your coins. You are free to use and sell those coins whenever you want. You may want to look at those. And use your own decentralized wallet to stake. Don't use exchanges or thirdparty wallets to stake. Highly likely you might lose your coins.
Do you think it's a good idea to stake coins?
Please explain your opinion.
Staking was not that bad idea But the platform of that staking should be reputable. Although centralized all platform should be avoided for that. I would tell a person to stack a coin only when he invested in a coin and its price has gone down a lot, and he is waiting for that coin to pump again. Basically, this means that I suggest staking as the last stage for those who are investing for long term investment. I myself have been staking a token because its price has gone down. Please explain your opinion.
If you can interact with the smart contract through your own non-custodial wallet, who can take your money? In this case, there is only the risk of the smart contract being hacked. Plus, you don't have to wait a whole year to get your staking reward. There are pools that can pay out your rewards every 14, 28, 48, etc days. In this case, the interest rate may be reduced, but it is more optimal than waiting for 1 payout all year.
I think that it would be good idea if you keep it going for a long time. The result of constantly investing and keep reinvesting the profits is great, that way a lot of people get rich and you should be too. Bitcoin itself for example, even though people do not know this a lot, binance does give rewards for keeping your bitcoin there, calls it staking even though you are not staking anything, and you should be able to make more.ETH is the same, it has become proof of stake, which means that not only you will make an income from it, but you will also constantly get returns as well. I feel like we should consider that as a good thing and should be making a lot of profit with it as long as we possibly could.
Staking bitcoin is one of the dumbest things to do. I'm not imposing my point of view on anyone, it's just my position. Bitcoin has been growing steadily over its lifetime and generating income over the long term. That is, we realize that it is a revenue model and if we invest at any time, sooner or later we will get a return. Knowing this information, I don't see the point of sending bitcoin to some centralized services to get a little more than you can get from just holding coins in your wallet. That increase in potential income in no way justifies the risks that a staker exposes himself to when sending his bitcoins to some centralized service's staking pool.
Staking for 1 year? I doubt its good idea to invest on that since they might take our money without us knowing and we can't assure that we can withdraw our funds if its lock for one year.
Much better for us to find another reliable investment options since staking will never be a good investment decision knowing that its hard to determine if we can earn with them.
If you can interact with the smart contract through your own non-custodial wallet, who can take your money? In this case, there is only the risk of the smart contract being hacked. Plus, you don't have to wait a whole year to get your staking reward. There are pools that can pay out your rewards every 14, 28, 48, etc days. In this case, the interest rate may be reduced, but it is more optimal than waiting for 1 payout all year.Much better for us to find another reliable investment options since staking will never be a good investment decision knowing that its hard to determine if we can earn with them.
ETH is the same, it has become proof of stake, which means that not only you will make an income from it, but you will also constantly get returns as well. I feel like we should consider that as a good thing and should be making a lot of profit with it as long as we possibly could.
Coin staking It's really good ideas but when people’s don,t know how to staking Their coin than it’s look like fools first of all people’s need to know properly how to do stake theire coin and earning annual profit.
Too good-to-be-true offers make it seem that it is a wise or Good Idea but it is not. It's just that it's going to make you feel good at the start but in the long run, it might not be. If you are willing to take that risk for staking coins on those types of projects, then you need to ready yourself for losses. Be careful with that.
I have a different view regarding this. I meant let's say that you bought eth @2k then you staked it but it plunges so hard until it reaches 1k which makes you lose 50% of your investment. It's being unrealistic to expect the price to come back again in a short time.
It is because you want to take a profit in at short time and you are not wrong when the amount of your cut loss can be closed from the profit you get in short term,
But lets say you buy ETH and then you are long term holder rather than cutloss you can continue DCA and stake monthly rather than HOld it plainly. So staking is best for long term holder in my opinion
Staking for 1 year? I doubt its good idea to invest on that since they might take our money without us knowing and we can't assure that we can withdraw our funds if its lock for one year.
Much better for us to find another reliable investment options since staking will never be a good investment decision knowing that its hard to determine if we can earn with them.
Much better for us to find another reliable investment options since staking will never be a good investment decision knowing that its hard to determine if we can earn with them.
If you can interact with the smart contract through your own non-custodial wallet, who can take your money? In this case, there is only the risk of the smart contract being hacked. Plus, you don't have to wait a whole year to get your staking reward. There are pools that can pay out your rewards every 14, 28, 48, etc days. In this case, the interest rate may be reduced, but it is more optimal than waiting for 1 payout all year.
Staking for 1 year? I doubt its good idea to invest on that since they might take our money without us knowing and we can't assure that we can withdraw our funds if its lock for one year.
Much better for us to find another reliable investment options since staking will never be a good investment decision knowing that its hard to determine if we can earn with them.
Much better for us to find another reliable investment options since staking will never be a good investment decision knowing that its hard to determine if we can earn with them.
Staking is always bad, never stake if you don't want to take a risk to lose all of your coins.
Either you stake in non custodial wallet, old coins, stable coins, trusted exchanges etc your coins will be staked in centralized smart contract and if it's get hacked, all of your coins are gone. Don't get tricked with big APY, high risk high return.
Either you stake in non custodial wallet, old coins, stable coins, trusted exchanges etc your coins will be staked in centralized smart contract and if it's get hacked, all of your coins are gone. Don't get tricked with big APY, high risk high return.
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Do you think it's a good idea to stake coins?
Please explain your opinion.
22% APY? That alone is already a red flag for me.Do you think it's a good idea to stake coins?
Please explain your opinion.
I remember Terra Luna with this one where they're giving I think 20% APY for those who put their coins into their project. Ending? Many lost their money when the project fell down because of just a simple hack or bug whatever it is.
Staking in general is a good thing because you will have the opportunity to get more coins on a yearly basis because your coins are basically being used to earn more coins. On the other hand, let's think of the annual interest that they're giving if it's realistic or not. That 22% alone isn't realistic for me because who will give 22% to investors and take note that "it's free". Don't fall for this traps of these kind of projects.
I'm also staking some altcoins, so I'm not against staking, but let's be considerate at least, and think if the amount of annual interest that they're giving is realistic or not.
(....)
Do you think it's a good idea to stake coins?
Please explain your opinion.
Very risky for me if the platform you will stake on is not safe. But if you want to protect your funds especially protect from spending and losing value by buying other coins, staking is good especially instead of holding it in your wallet, just stake it somewhere that will earn interest.Do you think it's a good idea to stake coins?
Please explain your opinion.
Seems you want to do some staking with involved of 2 cryptocurrency, a pair with a stablecoin and non stablecoin, expect the impermanent loss here, don't be lured with the APY/APR.
To be honest staked coin is the best option in the bear market like this when you buy at the peak.
Usually, coin/altcoin had a stake option on their official website take example Cardano or ETH you can directly Stake without third part app and can delegate rather than using wallet like atomic
Usually, coin/altcoin had a stake option on their official website take example Cardano or ETH you can directly Stake without third part app and can delegate rather than using wallet like atomic
I have a different view regarding this. I meant let's say that you bought eth @2k then you staked it but it plunges so hard until it reaches 1k which makes you lose 50% of your investment. It's being unrealistic to expect the price to come back again in a short time.
I prefer to cutloss it rather than try to stake. I can buy that at the bottom, which was giving fast profit compared with staking. The annual return from staking is not worth with the risk.
The different case if we are staking stable coin, but the risk to depeg will always be there. Nothing safe in the crypto. Staking ethereum requires a lot of money but it offers very small interest which is not even worthy for the small fish to use ethereum for staking purpose.
If we are dealing the risk and farm is far better compared with staking as we can get better APR than staking. It's worth with time and risk faced by our investment.
Similarly, avoid all project where they invite new investors by showing attractive offers. Older investors have more experience in the crypto market so they don't rush to invest and always pick the best coins. Moreover, there are many old projects for staking programs where the risk is low and the profits is dependent. So I think old projects will be best for stake planning and especially those who are newbie investors.
I think all projects are like that because that is where they can get an investor but they only need to make sure that what we investors see is also what we can get because there are so many projects out there who are only good at their ads or marketing.An old investor has a good experience in the market so they can also play with the not-so-good coins and they need to be quick here because these coins are only good at the start but later on, they will now perform poorly. Staking is like investing which can only give us an additional income so I wouldn't depend on them alone. It is still better to have a stable source of income outside cryptos.
Similarly, avoid all project where they invite new investors by showing attractive offers. Older investors have more experience in the crypto market so they don't rush to invest and always pick the best coins. Moreover, there are many old projects for staking programs where the risk is low and the profits is dependent. So I think old projects will be best for stake planning and especially those who are newbie investors.
I think all projects are like that because that is where they can get an investor but they only need to make sure that what we investors see is also what we can get because there are so many projects out there who are only good at their ads or marketing.An old investor has a good experience in the market so they can also play with the not-so-good coins and they need to be quick here because these coins are only good at the start but later on, they will now perform poorly. Staking is like investing which can only give us an additional income so I wouldn't depend on them alone. It is still better to have a stable source of income outside cryptos.
I would say that putting the main focus in staking on unknown coins that give high yields would be a foolish decision. Sooner or later one of two things will happen:
Standard situation when unknown projects try to attract liquidity by loud promises and tasty interest.
Lots of people believe they can get paid 600% in a year if it's written in the terms and conditions
- the coin will get very cheap
- the coin will drop in payout rates before the staking period ends.
Standard situation when unknown projects try to attract liquidity by loud promises and tasty interest.
no one can pay 22% for a long time.
It is a likely Ponzi that will end badly.
It is a likely Ponzi that will end badly.
Lots of people believe they can get paid 600% in a year if it's written in the terms and conditions
the thing with old projects is that they just don't have as much potential, they've drained all their potential when they are still relatively considered new coins.
nowadays i think you can witness some of the old coins which have the glory in previous bullrun cycle losing their value and market capitalisation massively and getting replaced by newer coins.
the only coins that could holding on and thrive until now are those with real utility like ethereum, the other? not so much.
thats why nowadays so many people are always choosing new coins, same with staking, if someone is seeking that massive return, new coins is the way to go.
abandoned old coins no longer have any power because some of the old coins don't develop properly. There will be no more innovation and there will be little volume in the end.nowadays i think you can witness some of the old coins which have the glory in previous bullrun cycle losing their value and market capitalisation massively and getting replaced by newer coins.
the only coins that could holding on and thrive until now are those with real utility like ethereum, the other? not so much.
thats why nowadays so many people are always choosing new coins, same with staking, if someone is seeking that massive return, new coins is the way to go.
Unlike the old Ethereum coin which was the top altcoin which until now has good development and is also the center of the development of new emerging chains. Apart from ethereum, I usually choose BNB because it is the biggest token exchange at the moment, namely Binance, with a lot of innovation and BNB is very much needed.
Finding great returns on new coins will not be easy. many new coins end up in scams, scams and it will be very risky, it takes in-depth research for new coins to be followed.
The newly launched SEI and Cyber, for instance, offer great returns on Binance, ranging between 15% and 20% APY, which is great and certainly won't last long, and I'm trying to take full advantage of it.
the thing with old projects is that they just don't have as much potential, they've drained all their potential when they are still relatively considered new coins.
nowadays i think you can witness some of the old coins which have the glory in previous bullrun cycle losing their value and market capitalisation massively and getting replaced by newer coins.
the only coins that could holding on and thrive until now are those with real utility like ethereum, the other? not so much.
thats why nowadays so many people are always choosing new coins, same with staking, if someone is seeking that massive return, new coins is the way to go.
abandoned old coins no longer have any power because some of the old coins don't develop properly. There will be no more innovation and there will be little volume in the end.nowadays i think you can witness some of the old coins which have the glory in previous bullrun cycle losing their value and market capitalisation massively and getting replaced by newer coins.
the only coins that could holding on and thrive until now are those with real utility like ethereum, the other? not so much.
thats why nowadays so many people are always choosing new coins, same with staking, if someone is seeking that massive return, new coins is the way to go.
Unlike the old Ethereum coin which was the top altcoin which until now has good development and is also the center of the development of new emerging chains. Apart from ethereum, I usually choose BNB because it is the biggest token exchange at the moment, namely Binance, with a lot of innovation and BNB is very much needed.
Finding great returns on new coins will not be easy. many new coins end up in scams, scams and it will be very risky, it takes in-depth research for new coins to be followed.
To be honest staked coin is the best option in the bear market like this when you buy at the peak.
Usually, coin/altcoin had a stake option on their official website take example Cardano or ETH you can directly Stake without third part app and can delegate rather than using wallet like atomic
Usually, coin/altcoin had a stake option on their official website take example Cardano or ETH you can directly Stake without third part app and can delegate rather than using wallet like atomic
Similarly, avoid all project where they invite new investors by showing attractive offers.
Assess if the projected rate is too good to be true. If you think that they're manageable, then invest with caution. Not everyone can monitor that but at least we've given them some clue on how they should take care of themselves.Older investors have more experience in the crypto market so they don't rush to invest and always pick the best coins. Moreover, there are many old projects for staking programs where the risk is low and the profits is dependent. So I think old projects will be best for stake planning and especially those who are newbie investors.
Exactly. We tend to get into those that have been tested and proven that they're not going to have an exit scam. Even if they only offer a small amount of rate but they're genuine rates and won't make the project bankrupt. But even with that, still, one has to be careful if it's about investing into staking coins.
Similarly, avoid all project where they invite new investors by showing attractive offers. Older investors have more experience in the crypto market so they don't rush to invest and always pick the best coins. Moreover, there are many old projects for staking programs where the risk is low and the profits is dependent. So I think old projects will be best for stake planning and especially those who are newbie investors.
the thing with old projects is that they just don't have as much potential, they've drained all their potential when they are still relatively considered new coins.nowadays i think you can witness some of the old coins which have the glory in previous bullrun cycle losing their value and market capitalisation massively and getting replaced by newer coins.
the only coins that could holding on and thrive until now are those with real utility like ethereum, the other? not so much.
thats why nowadays so many people are always choosing new coins, same with staking, if someone is seeking that massive return, new coins is the way to go.
Most of the previous users mentioned why you should avoid the Atomic wallet; thus, I'm not going to repeat that. Staking is generally a decent way to earn a semi-passive income, and I'm saying semi instead of solely passive because it still requires constant monitoring and the occasional switch between the available or profitable vaults. 22% is actually great and won't last long, but you'll receive reasonable yields for as long as it lasts. Keep in mind that usually, the higher the APY, the higher the risk, while you should also take into account the possible impermanent loss. Impermanent loss is when you're yielding coins but they're losing value, which, if it's at a high rate, means you'll end up losing more than you earn.
Some staking coin with annual good return.Some staking coin didn't any return.Sometimes huge losse this time.I didn't suggestion staking coin.90% risky annual staking this is my thinking.So first time follow annual staking & analysis than your won research & investment.Most time losse annual staking.so I didn't suggest this staking.
But it depends on the project itself I think sir and how strong it holds against the market waves, instead of us investing in spot and keeping the coins we have, then we have aspirations to get a decent profit from the coin from holding on to the long term more good in my opinion staking coins to make the coins you have multiply and increase profits if a bullrun arrives, just like in ETH even though we get payments with a percentage below 10%, but that's better, the focus here is not how much the staking payment is do but how logically the project provides payments to investors who do staking, this needs to be looked at and taken into account.The payout that the op mentioned at 22% is too high and illogical, this should be questioned again with the project being done, this is quite crazy, this project could turn out to be a scam in the end.
Similarly, avoid all project where they invite new investors by showing attractive offers. Older investors have more experience in the crypto market so they don't rush to invest and always pick the best coins. Moreover, there are many old projects for staking programs where the risk is low and the profits is dependent. So I think old projects will be best for stake planning and especially those who are newbie investors.
Some staking coin with annual good return.Some staking coin didn't any return.Sometimes huge losse this time.I didn't suggestion staking coin.90% risky annual staking this is my thinking.So first time follow annual staking & analysis than your won research & investment.Most time losse annual staking.so I didn't suggest this staking.
Do you think it's a good idea to stake coins?
Please explain your opinion.
Please explain your opinion.
First things first, you should should not use Atomic wallet to stake. If they have the highest APYs for the same set of assets that other wallets offer 5-10%, that alone should make you skeptical. Atomic wallet is too controversial (they have been hacked before) and their team denied the hack but barely did anything to compensate users or provide a post-mortem or recovery plan for its users. I recommend staying away from such wallets where or not the hack was from their team.
About staking, you can stake for rewards but you should be very mindful of blockchains that lock your staked tokens for 2 epochs (around 48hrs) in order for to unstake. Luna has similar lock-time and by the time the unstaked tokens became available for withdrawal, the price already went downhill. It's just something to keep in mind.
Staking isn't a bad decision but choosing the wrong exchanges, wallet, and coins really matters a lot because the results will depend on them. If you are badly choosing any of those, you will never expect Returns/earnings but you probably get losses. But this is not the reason why I don't do staking anymore because of the risk involve and the profit sharing because I know myself that I can make more if I'll never stake my coins instead, I use it to trade.
Well, the only thing I would say to you OP is to be more cautious. Research and background check is very important because a single mistake will certainly lose your money instantly.
this much is actually true, staking involves trust towards the platform that we are staking our money in.Well, the only thing I would say to you OP is to be more cautious. Research and background check is very important because a single mistake will certainly lose your money instantly.
whether we could score some profits hugely depends on the platform itself, if the platform itself is legit, we could definitely get some good returns.
but the thing is that, sometimes the APY offered is relatively low.
if we are finding some coins with relatively high APY then we should degrade the choice of our staking to the lesser trusted and reliable, which means higher risk of not getting the investment and profit back but might make the capital we invested in vanish.
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.
no one can pay 22% for a long time.
It is a likely Ponzi that will end badly.
Staking isn't a bad decision but choosing the wrong exchanges, wallet, and coins really matters a lot because the results will depend on them. If you are badly choosing any of those, you will never expect Returns/earnings but you probably get losses. But this is not the reason why I don't do staking anymore because of the risk involve and the profit sharing because I know myself that I can make more if I'll never stake my coins instead, I use it to trade.
Well, the only thing I would say to you OP is to be more cautious. Research and background check is very important because a single mistake will certainly lose your money instantly.
Well, the only thing I would say to you OP is to be more cautious. Research and background check is very important because a single mistake will certainly lose your money instantly.
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.
Atomic Wallet didn't fulfill my expectations at that moment and as others said above it has some security flaws.
This year I am operating with BItkeep (now rebranded as Bitget Wallet). Metamask and Trust were my mains in DeFI but I moved out to the other for having more integrations than the other two giants (89 between dAPPS and Chains). Now you can choose between a 12 seed phrase or a 24 one and has 6 chains added instantly (For me that I downloaded this to start testing ZksyncEra was a huge deal). Is pretty smooth and fair for beginners and is very used by defi Traders
Do you think it's a good idea to stake coins?
Please explain your opinion.
Even if it is not wrong to do such a thing but in the end we must realize that not all coins will last for a long time so in this case if you really want to try to bet coins especially for a long time like the annual context in your title then I think it will be risky if the coin you bet is ordinary.
Even though it may be good now, it doesn't necessarily last long because it could experience problems at any time and actually make losses in the end which makes me feel that something like this for altcoins is not worth it.
I really think staking is not a good option, this is just my opinion because If we have to stake then there will always be some risk if the price of the coins falls or the project fails to deliver then what will happen? Someone will lost all his funds, but the good option is always trading.
With ETH I think it's going to make stakers a lot of money though and most institutions are going to be holding POS tokens for staking. I think that's what makes it tempting to stake ETH.
It's just not going to be worth using ATOMIC wallet though because it's not an opensource project. I remember there was an issue about it months ago so don't get attracted to wallets like that because of the high interest. You'd rather be using wallets used by the developer itself and are opensource to make sure you won't lose your funds.
I really think staking is not a good option, this is just my opinion because If we have to stake then there will always be some risk if the price of the coins falls or the project fails to deliver then what will happen? Someone will lost all his funds, but the good option is always trading.
Some people will say what if the price of the coin drastically drops?
But you can say that about any coin you invest in.
Not really. You have to calculate the risks of each cryptocurrency before reaching the conclusion they can fall drastically or not. Take the history of each of them and you will reach to different conclusions. Example: brand new created tokens are more risky, because you don't have a previous history to analyze, while consolidated cryptocurrencies such as BTC and ETH give you all the necessary previous informations to reach a very optimistic prediction on long term.But you can say that about any coin you invest in.
In my opinion it's better to avoid staking tokens offering too high annual return. It's certain you their prices are going to drop once investors start receiving yield back. Early investors may make decent profit, but late ones will make tiny profit or no profit at all... Unless there is a benefit else when staking on those programs, I wouldn't go further.
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.
No, by investing in some ETH or BTC, the likelihood that the coin will plummet in value is minimal. Various obscure coins that have questionable fundamental properties have a much higher probability for rapid depreciation. Therefore, the claim that any coin can also depreciate like some obscure token offering 22% annualized returns is not true and is more like complacency to put your money into that 22% token. Risks are not equal and where they offer high interest rates, that place will always have higher risks than the rest.
I avoid taking the risk of staking for minimal profit, although it may be suitable for certain investors. I choose not to rely on exchanges and wallets for staking instead, I securely store my coins in a hardware wallet. While the attractive staking returns are appealing, the inflexible staking terms pose a challenge. If the staking duration isn't completed, the benefits are forfeited, which can leave investors feeling trapped. If staking were to occur on a proportional or daily basis, it would be favorable. Otherwise, staking could become a commitment that restricts one's options.
I have some Atomic Wallet tokens, but it's a fiasco, I should dump them when they were over $1... they are on staking, but their value is down a lot, and I am not sure we will see it rising again after that hack and many negative reviews around.
Personally, I never had any problems with my Atomic wallet, but I didn't have a considerable amount there for the long term.
Personally, I never had any problems with my Atomic wallet, but I didn't have a considerable amount there for the long term.
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.
Staking means you are giving tokens to block validity service and earn some block rewards. That is a passive income for the staking. But the problem is the atomic wallet. As I remembered it was hacked. You can try out the iopay wallet as well(If you are staking iotex tokens)
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.
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.
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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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