I tried staking on some altcoins and the result was bad, because this coin is locked and you cannot withdraw it until after a certain period and during this period you may see the price of the coins falling and you cannot do anything.
Once I was staking on BSW of the decentralized BiSwap platform, it seemed good but after a while its price started falling and I could not sell it because it was locked, I had to sell the tokens and there was an option to unlock it for a loss of 25%, I had to use this option to reduce the losses because the token continued to fall.
Topic: Staking or savings: Which is better? (Read 323 times)
legendary
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We all know there are many ways to earn passive income in crypto aside from trading (spot/futures). One of these methods is savings or staking. However, here's the catch: many platforms offer diverse APRs, whether in USDT or altcoins. So, which do you think is better—savings or staking?
Not a big fan of staking because when the wave came back then, it got hijacked by CEX and people had to give away the custody of their coins for them to receive peanuts and when they get hacked/collapse, there wasn't any compensation.
I prefer to have the custody of my coins and I don't trust most of the so called decentralized ways of staking because things are usually not what they claim to be in the industry especially with all this so called decentralized projects.
There's no way of staking Bitcoin unless you wan to give way the only power you have which is owing the Bitcoin and it not being controlled by third party.
Saving through hodling is the way to go and it's the best strategy to use when investing into Bitcoin and probably any other altcoins worth hodling but just know altcoins are a complete gambling and no guarantee with them.
It's weird but I guess I have this tendency to end up trading in much shorter time frames whenever I get into long-term trading. Once you time the market, you'll most likely end up timing it more often. The plan may be to open an order only after a 30-40% change in the price, but it often ends up done at 25%, then at 20%, then at 15%, and so on until you find your orders stuck because of wrong calls and failing to time the market accurately.
I can see the risk of that happening especially if one triesbit out successfully the first time. I see it more as cashing out at the end of a cycle and taking profit with the intention of re-entering the market when prices are low, it's more like 'passive trading' (which isn't a real thing).I've never gotten into active trading, so it's easier for me to keep it to every 4 year cycle, but someone who trades daily runs the risk of doing it so often and making it more risky than it should be.
I was referring to crypto savings not just holding. Some exchange offers those kinda services..
If you want to earn profit, the end result of stacking and savings is the same, you get % in both ways but the difference between them is that when you stake coins, you generate money from validating transactions but when you save it, you lock it on an exchange, which is centralized.I prefer trading over stacking or savings. First of all, none of them generate enough profit to make waiting worthy and second of all, the price of cryptocurrencies is so volatile that you'll make tons more profit by trading here and there.
I don't think you can staking bitcoin, then the option will be hodling which we can call savings.
For some altcoins there is a staking option and you can see all the details related to it here ---> https://www.stakingrewards.com/
No, you can't stake bitcoin in the original meaning of that term. Bitcoin is PoW, coins/tokens that work with staking are PoS. But you can earn some interest on lending platforms by giving them access and custody of your coins. The list of failures of such services shows how dangerous doing so is. For some altcoins there is a staking option and you can see all the details related to it here ---> https://www.stakingrewards.com/
Yeah, I did switch pools here and there because I want to find better opportunities. I can find better offers outside of crypto staking that have given me good returns for years now so I switched my capital over there. Not using stablecoin probably contributed to that, although I'm not comfortable holding stablecoins for long either.
Constantly switching pools negates the aspect of passive income in a way, and it's too time-consuming. However, I've come across some pools on Beefy that consistently provide a relatively stable APY, on so-called reputable stablecoins such as USDC or USDT. I've been holding stablecoins for quite long, and even though I don't quite trust them either, the only critical moment was with UST that collapsed and resulted in a reasonable loss. If you don't mind me asking, what other options did you consider outside of the staking scene? 
We all know there are many ways to earn passive income in crypto aside from trading (spot/futures). One of these methods is savings or staking. However, here's the catch: many platforms offer diverse APRs, whether in USDT or altcoins. So, which do you think is better—savings or staking?
Saving is better and safer than staking, because in saving you have control over your own coins, while in staking you have to entrust your coins to another party, who at first will seem trustworthy but it's only a matter of time until they finally run away with your coins, but saving USDT or altcoins has a big risk, it will be better to save Bitcoin.
If you find a smart contract for stablecoins which offers a reasonable yield, anywhere from 6% to 8% is feasible, then I don't think it would consume too much of your time.
Yeah, I did switch pools here and there because I want to find better opportunities. I can find better offers outside of crypto staking that have given me good returns for years now so I switched my capital over there. Not using stablecoin probably contributed to that, although I'm not comfortable holding stablecoins for long either.Is this it? I typed it on Google and it brought out results.. are they on some promo because 18% is quite generous aahah. Might dig more.
I get a flashback of crypto loan platforms with that offer. Are you sure they won't use your money for lending activities? Btw, some platforms also use staking/savings interchangeably. CMIIW. 
~snip~
Not except you do long term trading. If you plan to hold through multiple cycles rather than watch the value rise and drop with each bullrun, you can convert your Bitcoin when you think the cycle is at its peak and hold a stable coin through till the cycle reaches it's bottom then buy back with the same amount you locked in at the top, but holding more Bitcoin now.
You may not always be perfect with the exact top and bottom but it's less risk and you'll make some profit and do not need extensive trading skills.
Then that's not a passive income.
After I fared badly from attempting to make money by day trading, I generally resorted to hodling. But, yeah, I do trades during large long-term swings, until I got bored and had a hard time controlling my emotions waiting for months, even more than a year, to make the next order while looking at the price quickly rising and falling in double figures in terms of percentage. And I also didn't feel at ease parking stablecoins on exchanges. I didn't like keeping USDT or USDC on my hardware wallet either. Eventually, I ended up a lazy hodler.
It's weird but I guess I have this tendency to end up trading in much shorter time frames whenever I get into long-term trading. Once you time the market, you'll most likely end up timing it more often. The plan may be to open an order only after a 30-40% change in the price, but it often ends up done at 25%, then at 20%, then at 15%, and so on until you find your orders stuck because of wrong calls and failing to time the market accurately.
~snip~
I was referring to crypto savings not just holding. Some exchange offers those kinda services..
Then I'd rather get into noncustodial staking as it's less risky.
I used to do both in the past but decided to stop staking simply because it takes too much time for me and I got lazy after that. I think capital is another reason why people can't do both. It doesn't sound worth it to risk your $100 to get $10 on a smart contract that can be hacked at any time. Personally, I hardly make anything after staking for 3 years on Pancake, although you can argue the fault lies on me because I'm not staking stablecoins or something similar.
I don't find it requires too much time, unless you're constantly switching smart contracts to take advantage of the higher APYs, or you're staking with random tokens that may collapse from one day to another. If you find a smart contract for stablecoins which offers a reasonable yield, anywhere from 6% to 8% is feasible, then I don't think it would consume too much of your time.Also, it depends on how much your capital is, don't expect to earn a fortune with $100, you'd make peanuts, unless you're after excessive yields the pump and dump coins offer. Think of it as a high-compound interest account and deposit a few thousand dollars.
I hope that by "aside from trading" you don't mean it's another way of making passive income. Because it isn't.
Savings could give you passive income but it doesn't really make you grow whatever you have. There isn't growth in savings. I'm referring to hodling, of course. But I generally prefer it because Bitcoin's value is rising quite fast. That to me is sufficient, so far at least. Other than that, there's the factor of full control and ownership. However attractive staking may seem, the absence of full control and ownership is too much of a risk to bear.
How I wish, however, I have much crypto in my portfolio that I can risk some to staking without worrying too much.
Savings could give you passive income but it doesn't really make you grow whatever you have. There isn't growth in savings. I'm referring to hodling, of course. But I generally prefer it because Bitcoin's value is rising quite fast. That to me is sufficient, so far at least. Other than that, there's the factor of full control and ownership. However attractive staking may seem, the absence of full control and ownership is too much of a risk to bear.
How I wish, however, I have much crypto in my portfolio that I can risk some to staking without worrying too much.
I was referring to crypto savings not just holding. Some exchange offers those kinda services..
We all know there are many ways to earn passive income in crypto aside from trading (spot/futures). One of these methods is savings or staking. However, here's the catch: many platforms offer diverse APRs, whether in USDT or altcoins. So, which do you think is better—savings or staking?
Generally speaking, crypto staking offers returns that exceed those you can earn in a savings account. However, staking is not without risk. It's the reason I often opt for savings. I've seen some fair amount in interest on Bitget, up to 18% APR on USDT Savings. And I guess the APR varies at different times. It could be higher when there are campaigns.
Is this it? I typed it on Google and it brought out results.. are they on some promo because 18% is quite generous aahah. Might dig more.
I better put investment against staking rather than staking. For a speculative asset that changes in value and I've done my research on the fundamentals I'll rather invest it while I maintain self custody of the asset than to stake with a service that holds custody of my assets.
You can stake on noncustodial wallet through validators. I think you can stake in a noncustodial way by providing liquidity.You can stake on custodial platforms to earn. You can also save on custodial platforms to earn. Both are truly not recommended at all.
Saving can be up to holding bitcoin on a noncustodial wallet.
Chose the one that you want. But know that if you stake those altcoins on noncustodial wallet, it has a period of time your coin will not be available for your to withdraw after you unstake it.
Also know that if you earn from staking but the price of coins are falling, the coin may fall in a way that you may still finally be losing significantly.
For eth validators fees are high..which chain would you suggest??.
If I were to say saving rather than staking, but everyone has a different view on passive income then staking might be the way to go.
Staking altcoins has the risk that when the price falls then you will not be able to recover it.
If you are tempted by high APR then choose a new altcoin offering a large APY.
It is better to save in bitcoin and make it a holding for the long term, this is not about massive income but thinking about the future by saving in bitcoin.
Staking altcoins has the risk that when the price falls then you will not be able to recover it.
If you are tempted by high APR then choose a new altcoin offering a large APY.
It is better to save in bitcoin and make it a holding for the long term, this is not about massive income but thinking about the future by saving in bitcoin.
Based on personal experience, savings accounts give a certain high APY-apparently, one or two have reached as high as 20% in some marketplace, but are never immune to some level of associated risk. They are more liquid, as most platforms will allow access to funds at any time, but rates can be highly volatile; this form of savings usually lacks the security that more conventional forms of savings would present.
While Staking can have more predictable returns on particular networks, I think we should be cautious regarding the reliability of the platform and its staking conditions. There is also the possibility of validator penalties or slashing in case there is poor performance on the network. However, given the crypto market cap has been on a rise with favorable macroeconomic conditions slowly seeping in, staking could yield potentially better rewards over the long term, especially for those willing to commit their assets for a longer period. Ultimately, it comes back to how much risk you're comfortable taking on, and whether you value flexibility (savings) or higher, but more stable, returns (staking).
While Staking can have more predictable returns on particular networks, I think we should be cautious regarding the reliability of the platform and its staking conditions. There is also the possibility of validator penalties or slashing in case there is poor performance on the network. However, given the crypto market cap has been on a rise with favorable macroeconomic conditions slowly seeping in, staking could yield potentially better rewards over the long term, especially for those willing to commit their assets for a longer period. Ultimately, it comes back to how much risk you're comfortable taking on, and whether you value flexibility (savings) or higher, but more stable, returns (staking).
They are both good options if you're a risk-taker, then staking is a good choice, its important that before you start to stake your coin that you pick the right coin to stake. Be sure it has potential; its like hitting two birds with one stone if you pick the right coin and the right platform to stake.
Remember when staking the saying that not your keys, not your coins apply, Only proceed if you're comfortable with this. Our local exchange here offers a very generous APR, but I have second thought of staking on that exchange because it's notorious for restricting one's account.
Remember when staking the saying that not your keys, not your coins apply, Only proceed if you're comfortable with this. Our local exchange here offers a very generous APR, but I have second thought of staking on that exchange because it's notorious for restricting one's account.
We all know there are many ways to earn passive income in crypto aside from trading (spot/futures). One of these methods is savings or staking. However, here's the catch: many platforms offer diverse APRs, whether in USDT or altcoins. So, which do you think is better—savings or staking?
Generally speaking, crypto staking offers returns that exceed those you can earn in a savings account. However, staking is not without risk. It's the reason I often opt for savings. I've seen some fair amount in interest on Bitget, up to 18% APR on USDT Savings. And I guess the APR varies at different times. It could be higher when there are campaigns.
We all know there are many ways to earn passive income in crypto aside from trading (spot/futures). One of these methods is savings or staking. However, here's the catch: many platforms offer diverse APRs, whether in USDT or altcoins. So, which do you think is better—savings or staking?
Staking is good; its a passive income, especially if the APR is good, but you have to trust the platform where you stake your coins. I had a worse experience the first time I staked my coins; I lost $200 because of the rugpull. If you're going to stake your coin, check the reputation of the site; do not be tempted by a very high APR; its a red flag, and the most important thing is to be sure to check if the platform is audited; its better if its Certik that audited the code.
The best platform I staked my coin on was Betfury. The APR is not that high, but its a stable and reputable casino.
Savings could give you passive income but it doesn't really make you grow whatever you have. There isn't growth in savings. I'm referring to hodling, of course.
Not except you do long term trading. If you plan to hold through multiple cycles rather than watch the value rise and drop with each bullrun, you can convert your Bitcoin when you think the cycle is at its peak and hold a stable coin through till the cycle reaches it's bottom then buy back with the same amount you locked in at the top, but holding more Bitcoin now.
You may not always be perfect with the exact top and bottom but it's less risk and you'll make some profit and do not need extensive trading skills.
I don't think you can staking bitcoin, then the option will be hodling which we can call savings.
For some altcoins there is a staking option and you can see all the details related to it here ---> https://www.stakingrewards.com/
As for what some platforms offer, they want liquidity and use that liquidity to finance their projects, it is similar to the lending or savings service provided by banks, but since these platforms are not reliable in the long run, it is better to avoid them.
For some altcoins there is a staking option and you can see all the details related to it here ---> https://www.stakingrewards.com/
As for what some platforms offer, they want liquidity and use that liquidity to finance their projects, it is similar to the lending or savings service provided by banks, but since these platforms are not reliable in the long run, it is better to avoid them.
How I wish, however, I have much crypto in my portfolio that I can risk some to staking without worrying too much.
I might stake if it's not from the exchanges and it's like a built feature of the noncustodial wallet that I use. But even so, I can't take the risk of giving them the custody of my coin just for the few bits of profit that I have to wait for annually. I am fine without having the increase of my portfolio from the profit that I might get by staking. At the same time, I don't have to worry about any risk that it can contain because the custody is within me and I am holding my money without having a lot of worries about what might happen to the platform where I'll stake them. Maybe for stablecoins, it's fine but the promising profits there are also going to be seen with a bigger amount that we'll stake for which I can't attain to take the risk of that as well. Jump to: