Staking or not to stake, kraken? | Bitcointalksearch.org

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Quote from: cryptoaddictchie on May 19, 2021, 08:47:01 PM

Quote from: Anonylz on May 19, 2021, 06:01:27 AM

Eventually you will realize that both cex and dex are not very safe to hold funds for long because just as it easy to hack into cex same equally applies to dex, the moment you made up your mind to engage in staking or any other earning activities that requires you committing your funds you already accept the risk and ready to bare the consequences, and they say no risk no gain

Yes I'm aware with it mate. I'd rather risk it to some staking that let me earns some profits while holding it alone and wait for it to go up in prices. Unless there is a deflanationary feature like reflect finance that send transaction tokens to all holders. Staking is also good way of profitings which doesn't have a consumption like mining except for that sweet risk.

Everything does have its own corresponding risk and any forms or ways of earning profit there would always be accompanied risk to it which is normal.

Staking is something other medium on earning token but basing off into the interest or profit that you could possibly get then i dont see for it to be worth but there are still
some people who are really that interested too much with these things.

Its up to someone if they can really handle out the risk or not.

cryptoaddictchie

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Quote from: Anonylz on May 19, 2021, 06:01:27 AM

Eventually you will realize that both cex and dex are not very safe to hold funds for long because just as it easy to hack into cex same equally applies to dex, the moment you made up your mind to engage in staking or any other earning activities that requires you committing your funds you already accept the risk and ready to bare the consequences, and they say no risk no gain

Yes I'm aware with it mate. I'd rather risk it to some staking that let me earns some profits while holding it alone and wait for it to go up in prices. Unless there is a deflanationary feature like reflect finance that send transaction tokens to all holders. Staking is also good way of profitings which doesn't have a consumption like mining except for that sweet risk.

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Quote from: hulla on May 10, 2021, 12:57:03 PM

while staking you can't access the coin staked until the staking period is over but you will get your passive income footing the percentage the exchange agreed on.

This depends on different policies of different platform, on Binance, you decide to lock your coins for 15, 30, 60, 90 days, also there is flexible staking where you can pull out at any given time. On apeswap, you can stake and unstake anytime you want.

Quote from: examplens on May 11, 2021, 02:55:53 PM

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Quote from: masulum on May 10, 2021, 04:13:21 PM

Staking crypto in CEX is not recommended.

Why do you think this? isn't it better to keep assets somewhere you trust?
To be honest, I had more trust in CEX exchanges like Binance, Kucoin, Cex, rather than some very new platform. Especially if they offer almost the same APR.

Cex APY is too low compare to Dex, that's why most investors consider staking on dex. Honestly, staking is risky whether on cex or dex but you should be careful where you operate this.

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Quote from: jimlaman8 on May 09, 2021, 09:26:28 PM

I noticed there is an option to stake on various crypto i already have, such as ADA, Eth etc, some with as high as 10% yields (is that per year)?

I think i read if you stake eth at least, you might not be able to unstake? That effectively means you can never sell what you stake correct?

Are there any you can stake and pull out at any given moment, or is this generally the way it is, stuck.
I also primarily use coinbase pro but im not sure there is staking there.

Thanks in advance

Depends on certain options because each platform might have that locked staking or to a set up where you can pull off funds if you wanted too.

So try to check out on the current platform you've been dealing with if they do have that feature but in the question if its really worth?

No its not, i wouldnt really trust up 3rd parties to handle out my coins just for the sake of 10% APY? The hell no, you can eventually
earn those by just simply holding.

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Quote from: cryptoaddictchie on May 11, 2021, 02:20:41 AM

I've never tried staking huge amount of stablecoin to stake on a dex. But with pancake maybe theres no really problem. But I heard that there are exploit happened to Stakers of pancake last time where some tokens or LP have gone missing?

Eventually you will realize that both cex and dex are not very safe to hold funds for long because just as it easy to hack into cex same equally applies to dex, the moment you made up your mind to engage in staking or any other earning activities that requires you committing your funds you already accept the risk and ready to bare the consequences, and they say no risk no gain

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Quote from: jimlaman8 on May 09, 2021, 09:26:28 PM

I noticed there is an option to stake on various crypto i already have, such as ADA, Eth etc, some with as high as 10% yields (is that per year)?

I think i read if you stake eth at least, you might not be able to unstake? That effectively means you can never sell what you stake correct?

Are there any you can stake and pull out at any given moment, or is this generally the way it is, stuck.
I also primarily use coinbase pro but im not sure there is staking there.

Thanks in advance

There are tons of staking platforms that supports the coins you've mentioned but staking it on crypto exchangers only returns low APYs compared to AMM farms/pools like Pancakeswap and Uniswap. But apparently, famous cryptos like ADA and ETH really has low APY as those coins doesn't really created with liquidity pools nor has allocations for farms. Staking it only makes your coin be part of the liquidity pool and you earn basically because the pool earns from fees and transactions. Unstaking it in most platforms really takes up to 3-7 days. If you prefer profiting on staking, then I suggest you choose those tokens that are new and still under development like DEXE or CAKE that sure has huge APY.

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Quote from: examplens on May 11, 2021, 02:55:53 PM

Why do you think this? isn't it better to keep assets somewhere you trust?
To be honest, I had more trust in CEX exchanges like Binance, Kucoin, Cex, rather than some very new platform. Especially if they offer almost the same APR.

Exchanges are the most valuable targets for online hackers. Even Binance was hacked before, although they were fortunate to be profitable enough to compensate the losses.

For the smaller exchanges, not all of them were lucky. For instance, Bitgrail exchange hack. Not a pretty sight when there are court cases involved.

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Kraken is a good exchange for staking I heard but I prefer binance as the only centralised exchange I can atleast trust my money with for some times, I've never heard about staking on Dex before but it might be possible anyway, still I just trust binance exchange more, there are different features of stakings available on binance exchange

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Quote from: masulum on May 11, 2021, 03:40:16 PM

Yup, we should always be careful about our assets. If LP is lost, I have never heard of it, but if an asset is exploited by a contract I often hear about it and an Indonesian member in this forum is one of the victims.

Probably it will only resort to being scam. There is a project called forcedao their Vault got exploited and what happened was the token got dumped really hard like super dump. So the team decided to change to new tokens and give Snapshot to those who have been affected and don't to those who abuse or buy the token at super low.

So better watch some staking platform. Doing 3 farming at the moment 2 on bsc and 1 on Fantom chain, superbly ni sign of exploitation so far.

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hmph..

Quote from: cryptoaddictchie on May 11, 2021, 02:20:41 AM

I've never tried staking huge amount of stablecoin to stake on a dex. But with pancake maybe theres no really problem. But I heard that there are exploit happened to Stakers of pancake last time where some tokens or LP have gone missing?

Yup, we should always be careful about our assets. If LP is lost, I have never heard of it, but if an asset is exploited by a contract I often hear about it and an Indonesian member in this forum is one of the victims.

Quote from: examplens on May 11, 2021, 02:55:53 PM

Why do you think this? isn't it better to keep assets somewhere you trust?
To be honest, I had more trust in CEX exchanges like Binance, Kucoin, Cex, rather than some very new platform. Especially if they offer almost the same APR.

Most do not recommend CEX because we never know when our assets will be frozen by CEX providers, which sometimes makes us have to follow their rules for sharing personal data. Indeed, KYC is the only method to fight AML at this time, but for some people, they are reluctant to do it for privacy reasons. Of course, we are not talking about the new DEX platform that has no reputation here, if the new platform has the credibility to keep user's assets safe, we can take the decision to stake on that DEX platform.

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Quote from: examplens on May 11, 2021, 02:55:53 PM

Quote from: masulum on May 10, 2021, 04:13:21 PM

Staking crypto in CEX is not recommended.

Why do you think this? isn't it better to keep assets somewhere you trust?

Trust is a key factor, but users of cryptocurrency should not trust, but verify.
A decentralized network like Bitcoin should not be stored in a centralized storage as it loses its qualities which makes it valuable. In centralized storage you do not fully own your coins as you likely do not own the private key. Also, your privacy is not guaranteed as such platforms are compliant to government requests.

examplens

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My decision is to stake only coins which already plan to hold. So why not get some extra profit from there.
Of course, only top 50 cryptos.

Quote from: masulum on May 10, 2021, 04:13:21 PM

Staking crypto in CEX is not recommended.

Why do you think this? isn't it better to keep assets somewhere you trust?
To be honest, I had more trust in CEX exchanges like Binance, Kucoin, Cex, rather than some very new platform. Especially if they offer almost the same APR.

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Quote from: jimlaman8 on May 09, 2021, 09:26:28 PM

I noticed there is an option to stake on various crypto i already have, such as ADA, Eth etc, some with as high as 10% yields (is that per year)?

I think i read if you stake eth at least, you might not be able to unstake? That effectively means you can never sell what you stake correct?

Are there any you can stake and pull out at any given moment, or is this generally the way it is, stuck.
I also primarily use coinbase pro but im not sure there is staking there.

Thanks in advance

It's definitely per year which is why staking is only for the big boys, you will have to stake thousands of dollars worth of coins to get something good every week or months this is why I prefer mining over staking

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Quote from: Beparanf on May 10, 2021, 01:09:24 PM

Try staking BUSD on Binance if you want to stake stablecoin with high APY. I believe you can have 6 to 7% depending on the duration you will choose. Don't ever use crypto.com for staking.

I think for busd it's become 5% now I'm wondering why the percentage decreases in spite that the 6% is already a low compared to other higher yield staking coin and token.

Quote from: masulum on May 10, 2021, 04:13:21 PM

Staking crypto in CEX is not recommended. If holders wants stake their stable or non-stable tokens, it recommended to choose DEX. For now there are many DEXs that offer easier staking. For example, stake and farming on Pancakes, BIFI and so on.

I've never tried staking huge amount of stablecoin to stake on a dex. But with pancake maybe theres no really problem. But I heard that there are exploit happened to Stakers of pancake last time where some tokens or LP have gone missing?

masulum

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hmph..

Quote from: Beparanf on May 10, 2021, 01:09:24 PM

Try staking BUSD on Binance if you want to stake stablecoin with high APY. I believe you can have 6 to 7% depending on the duration you will choose. Don't ever use crypto.com for staking. They APY for staking coin is much lower compared to Binance. You should choose Binance or Kucoin.

Staking crypto in CEX is not recommended. If holders wants stake their stable or non-stable tokens, it recommended to choose DEX. For now there are many DEXs that offer easier staking. For example, stake and farming on Pancakes, BIFI and so on. We are also free in managing our assets because staking is connected to our own wallets.

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Quote from: jimlaman8 on May 10, 2021, 11:11:26 AM

Yeah i was planning on moving all my coins to the ledger usb once it arrives. So maybe a safer bet.

The only thing is, if your doing short term gains on a crypto and need to sell in a hurry thats an issue i would think (if you set automatic sell points)? I guess for those crypto's they shouldnt get moved to a ledger?

Crypto.com has some staking ability as well from what i saw.

I guess maybe one safer stake that shouldnt matter if lower dollar, left online etc, would be tether, i forget which place had it at 10%.

Try staking BUSD on Binance if you want to stake stablecoin with high APY. I believe you can have 6 to 7% depending on the duration you will choose. Don't ever use crypto.com for staking. They APY for staking coin is much lower compared to Binance. You should choose Binance or Kucoin.

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Almost all cryptocurrency exchange sites intermix staking but some of the staking methods are to encourage exchange users to keep their holding on the exchange platform while some staking was introduced by coin owners.
Meanwhile, while staking you can't access the coin staked until the staking period is over but you will get your passive income footing the percentage the exchange agreed on.

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Quote from: jimlaman8 on May 09, 2021, 09:26:28 PM

I noticed there is an option to stake on various crypto i already have, such as ADA, Eth etc, some with as high as 10% yields (is that per year)?

You can stake ADA on their supported non-custodial wallets like Yoroi and start earning after four epochs. You can also unstake easily when you want to sell. You can choose which pool to choose when you want to delegate since they offer different rates. There are guides available at https://cardano.org/stake-pool-delegation/

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Yeah i was planning on moving all my coins to the ledger usb once it arrives. So maybe a safer bet.

The only thing is, if your doing short term gains on a crypto and need to sell in a hurry thats an issue i would think (if you set automatic sell points)? I guess for those crypto's they shouldnt get moved to a ledger?

Crypto.com has some staking ability as well from what i saw.

I guess maybe one safer stake that shouldnt matter if lower dollar, left online etc, would be tether, i forget which place had it at 10%.

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Im not kraken user but some coin have 2 option (*binance have this option)

flexible staking and locked staking

like the name flexible mean you can withdraw anytime

and locked mean you can unstake till reach certain of time

and for ETH it can't be unstake for 2 years i think Cheesy

its good for saving but don't buy at this time since ETH at upper price Grin

Topic: Staking or not to stake, kraken? (Read 237 times)