Staking or savings: Which is better?

Nheer

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Quote from: Abu-Naim on December 21, 2024, 11:11:12 AM

Quote from: ? on December 20, 2024, 04:10:03 AM

many people use atomic wallet and its not custodial

and lost money

still not get compensations or etc

be carefoul with savings Grin

Using wallets that dose not have reputation and good recommendations from crypto experts is very risky even if the wallet is non custodial; the wallet can be a close-source wallet which is also very risky and prone to hack.

My recommendation about non custodial open source wallet to use is always electrum wallet because many experts here recommends it and it has been on for long and with less scam accusations globally.

Exactly, open source non custodial wallets are the best wallet choice for everyone but most people especially beginners can’t even differentiate between them and they just end up making use of any wallet of their choice that comes to their mind. Closed source wallets are prone to scams and attacks and are very risky and in cryptocurrency assets lost are difficult to recover or impossible to recover.

Before choosing a wallet source we should endeavor to research about different types of wallet and select a suitable one and also understanding the difference between each is important but from my knowledge An open source non custodial wallet is the best wallet choice to store your coins.

bettercrypto

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Quote from: Iamcrypticguy on October 17, 2024, 12:22:11 PM

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 like a bank with a time deposit, where once you set the duration period you choose, it can only be unlocked there, in short once you set it up, your crypto assets are locked for sure. And the only difference is the percentage that is added to the assets that you put in the staking amount.

And since you are in the crypto business, make sure that you can wait for the period that you choose either 1 month, 3 months or 1 year. But there are other cex platforms that have savings in the flexible category that do not require the staking method, being flexible you can cancel your setup anytime.

Patikno

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Quote from: avikz on December 18, 2024, 12:25:14 PM

Given a choice, I will choose staking over savings. Staking will actually help you to increase your holding and you will enjoy the capital gain at the same time. Whatever savings plan you are seeing in the market today, are all unregulated. So if any company runs away with your money, you are gone! In staking, you lock your money in the Blockchain so running away with your fund won't be possible.

So my vote is with staking only! Even pool staking is profitable and less risky.

The only downside that I get from staking is how long the time that it will usually take to unstake our token/coin. Nothing else besides that, some people might argue abut the safety of the validators, this has not been my issue since usually the every project also has their own validators where we can put our coin on them. Therefore, don't use all your money on staking, always save some for emergency needs.

Given that context, I would do both staking and saving, but I usually do staking not longer than a year while keep checking on the token's potential growth so I would know when should I unstake it.

Rampagoe004

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Quote from: iBaba on December 21, 2024, 03:51:30 PM

Quote from: avikz on December 18, 2024, 12:25:14 PM

Given a choice, I will choose staking over savings. Staking will actually help you to increase your holding and you will enjoy the capital gain at the same time. Whatever savings plan you are seeing in the market today, are all unregulated. So if any company runs away with your money, you are gone! In staking, you lock your money in the Blockchain so running away with your fund won't be possible.

Staking is better than saving but it all boils down to your intention. If you intend to save your money, you can put it in the bank. I do fixed deposits sometimes and it is kinda profitable too. Someone elsewhere might not be too comfortable wuth staking because when you stake your money, you are at the liberty of losing it when the trade or business goes south. It's not everyone who have the confidence to stake. So when you can't stake, you have the option of saving. Saving money is like an alternative to anyone who's willing to keep his funds while avoiding spending or losing it.

Both are equally profitable. Stalking is an option in crypto to get the same profit, whereas saving only becomes real savings. In this case, I support both. It all depends on each person's choices and beliefs as long as they know how to avoid losing the money we have.
Not everyone can get stalking. Fortunately, if you choose coins, be careful in everything, stick to your personal concept, don't worry about the FOMO that we get.

TastyChillySauce00

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Quote from: avikz on December 18, 2024, 12:25:14 PM

Given a choice, I will choose staking over savings. Staking will actually help you to increase your holding and you will enjoy the capital gain at the same time. Whatever savings plan you are seeing in the market today, are all unregulated. So if any company runs away with your money, you are gone! In staking, you lock your money in the Blockchain so running away with your fund won't be possible.

So my vote is with staking only! Even pool staking is profitable and less risky.

one caveat though, be sure 100% that the contract is completely safe and is audited heavily, one contract breach is enough to drain you out of your money.

the main reason why I stick with staking rather than sticking with flexible saving on exchange is because not your key not your coin, there's risk of exchange collapse, so might as well increase the risk and get big reward through staking in custodial contracts which of course audited heavily to ensure security.

if anyone happen to prefer saving, be sure to save in something that's guaranteed and have insurance, because otherwise you're risking your money for no return at all, so might as well go with staking.

milewilda

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Quote from: iBaba on December 21, 2024, 03:51:30 PM

Quote from: avikz on December 18, 2024, 12:25:14 PM

Given a choice, I will choose staking over savings. Staking will actually help you to increase your holding and you will enjoy the capital gain at the same time. Whatever savings plan you are seeing in the market today, are all unregulated. So if any company runs away with your money, you are gone! In staking, you lock your money in the Blockchain so running away with your fund won't be possible.

Staking is better than saving but it all boils down to your intention. If you intend to save your money, you can put it in the bank. I do fixed deposits sometimes and it is kinda profitable too. Someone elsewhere might not be too comfortable wuth staking because when you stake your money, you are at the liberty of losing it when the trade or business goes south. It's not everyone who have the confidence to stake. So when you can't stake, you have the option of saving. Saving money is like an alternative to anyone who's willing to keep his funds while avoiding spending or losing it.

The cons on staking is that you dont really hold up your coins but rather into those delegators on which on the moment that there's some issue like hacking incident or exploits then say goodbye into your coins and also one of the main factors on which Staking isnt profitable is that on the time or moment that the price or value of a coin goes down on which you might be receiving good numbers but doesnt mean that you will be that profitable because everything will really be basing up on coins or tokens value on which holding up for too long might be that not worth the risks but if you do have that faith into a certain project then it isnt really that bad on this case. You will definitely be having that kind of advantage on earning more coins. If you dont like on entrusting up your coins to these platforms then holding will be your best choice but of course the number of coins/tokens you are holding is just that the same not unless if you do make up some gradual accumulation then it will really be just that depending on you.

iBaba

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Quote from: avikz on December 18, 2024, 12:25:14 PM

Given a choice, I will choose staking over savings. Staking will actually help you to increase your holding and you will enjoy the capital gain at the same time. Whatever savings plan you are seeing in the market today, are all unregulated. So if any company runs away with your money, you are gone! In staking, you lock your money in the Blockchain so running away with your fund won't be possible.

Staking is better than saving but it all boils down to your intention. If you intend to save your money, you can put it in the bank. I do fixed deposits sometimes and it is kinda profitable too. Someone elsewhere might not be too comfortable wuth staking because when you stake your money, you are at the liberty of losing it when the trade or business goes south. It's not everyone who have the confidence to stake. So when you can't stake, you have the option of saving. Saving money is like an alternative to anyone who's willing to keep his funds while avoiding spending or losing it.

nelson4lov

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Quote from: Iamcrypticguy on October 17, 2024, 12:22:11 PM

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?

It depends. I'll explain.

If you plan to hold a non-stablecoin asset for the long term, staking is the way to go. You're not only going to be earning rewards but also supporting the decentralization of the project you love and holding long term.

The only downside is that there is usually an unstaking period that spans between 7 to 21 days. Some projects like Jupiter even has 31 days unstaking period.
Chose savings if you want your assets to be liquid and can immediately liquidate it if need me. But obviously, the incentives are a lot higher to stake than to just save it.

So it ultimately depends on the game plan. Both can be very useful. Back in 2022, I staked NEAR mainly and held it from $3 to $20. My stash also grew thanks to staking rewards. Good old days.

Nwada001

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Quote from: itorai on December 18, 2024, 09:16:01 AM

a choice that certainly needs to be determined, but there are many available for the stake and opportunities on binance that will be taken, maybe all of that requires proper thinking by taking one of them because it is very important to choose a validator that can be trusted, and that is an strategy to not worry about price fluctuations.

If you are ready to stake in Binance, it means you are aware of the risk of handing over your coins to a centralised entity, so you don't have anything to worry about again, as long as you use it to stake.

The only thing you will have to worry about is price; if the coin you stake happens to dump in price before the end of your staking period, it means you will be calculating losing even with the reward you will receive. It might not be enough; that stands as one of the disadvantages of staking.

uneng

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Quote from: Iamcrypticguy on October 17, 2024, 12:22:11 PM

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?

Savings mean to just keep your money stored in a safe place where only you can have access to. Considering how risky it is to let funds deposited at third party platforms in order to stake and make passive income from, I guess that right now the best alternative is to just go for savings. This way, you are going to profit from the increasements in altcoins' prices, which are already pretty decent if we compare their past and current prices.

To stake isn't a good idea, because there isn't any guarantees you are going to be able to withdraw your funds as soon as you wish. Many investors have already been scammed by exchanges and lending platforms, so besides not making any profit through staking at all, they also lost all their initial funds.

Abu-Naim

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Quote from: ? on December 20, 2024, 04:10:03 AM

many people use atomic wallet and its not custodial

and lost money

still not get compensations or etc

be carefoul with savings Grin

Using wallets that dose not have reputation and good recommendations from crypto experts is very risky even if the wallet is non custodial; the wallet can be a close-source wallet which is also very risky and prone to hack.

My recommendation about non custodial open source wallet to use is always electrum wallet because many experts here recommends it and it has been on for long and with less scam accusations globally.

mich

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Quote from: ? on December 19, 2024, 04:19:31 AM

Quote from: mich on December 19, 2024, 12:59:24 AM

Quote from: ? on December 18, 2024, 04:39:15 AM

Quote from: mich on December 18, 2024, 04:26:44 AM

Well for me I do think it is better to have some savings. We all do like this idea of making easy passive income. And staking our coins is a good way for for us to do this.
For me I did use to stake my coins but I was always afraid I could lose them at any certain time.To not have the keys for your coins really does mean we do not own them.
This is how come there is free income to leave the coins on the exchanges. We do not have this control over them some investors want all the time.

Save the main part of your funds, and stake the part you are okay with.
Simple as that, really.

Well I am not ok with losing any of my funds. That is why I am not staking any more on the exchanges.
It is a chance I can still lose some of them or all of them. I do not think it is a big chance like this to happen but I will be thinking about it all the time.

There is risk everywhere Grin

And on exchanges - you wouldn't get good APRs anyways, usually. A bit better during the Bull, but that would be it.

Well we do not have to risk if we just hodl our coins. We will not get big rewards on the exchanges from staking. But if we just hodl we do not need to worry about a risk.

?

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many people use atomic wallet and its not custodial

and lost money

still not get compensations or etc

be carefoul with savings Grin

fikrett

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Quote from: maydna on December 19, 2024, 05:02:35 AM

How about doing saving and staking at the same time? You can saving Bitcoin in your private wallet while you can stake in custodial wallet or in the exchanges. But if you want to stake in the exchanges, you should use the amount you can afford and keep the rest of the amount in your private wallet.

Many exchanges offers a big return in staking so you must research and find which will gives you the best return. But makes sure that you select the exchanges that have trust and reputation I stake in some altcoins and Bitcoin in Binance and it still running until now while I also saving my Bitcoin in other wallets. I get some nice return and I also gets some new coins/tokens from staking BNB in Binance. I am not suggest you to follow what I did but I suggest you to research for more before you decides.

Totally right, I think you nailed it.
Trusted exchanges / platforms, trusted resources to get your funds on, real APRs (without being fairy-ish) - all comes down to responsible analysis and the process of diversifying the risks for yourself and your portfolio.

maydna

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How about doing saving and staking at the same time? You can saving Bitcoin in your private wallet while you can stake in custodial wallet or in the exchanges. But if you want to stake in the exchanges, you should use the amount you can afford and keep the rest of the amount in your private wallet.

Many exchanges offers a big return in staking so you must research and find which will gives you the best return. But makes sure that you select the exchanges that have trust and reputation I stake in some altcoins and Bitcoin in Binance and it still running until now while I also saving my Bitcoin in other wallets. I get some nice return and I also gets some new coins/tokens from staking BNB in Binance. I am not suggest you to follow what I did but I suggest you to research for more before you decides.

?

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Quote from: mich on December 19, 2024, 12:59:24 AM

Quote from: ? on December 18, 2024, 04:39:15 AM

Quote from: mich on December 18, 2024, 04:26:44 AM

Well for me I do think it is better to have some savings. We all do like this idea of making easy passive income. And staking our coins is a good way for for us to do this.
For me I did use to stake my coins but I was always afraid I could lose them at any certain time.To not have the keys for your coins really does mean we do not own them.
This is how come there is free income to leave the coins on the exchanges. We do not have this control over them some investors want all the time.

Save the main part of your funds, and stake the part you are okay with.
Simple as that, really.

Well I am not ok with losing any of my funds. That is why I am not staking any more on the exchanges.
It is a chance I can still lose some of them or all of them. I do not think it is a big chance like this to happen but I will be thinking about it all the time.

There is risk everywhere Grin

And on exchanges - you wouldn't get good APRs anyways, usually. A bit better during the Bull, but that would be it.

gunhell16

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Quote from: Iamcrypticguy on October 17, 2024, 12:22:11 PM

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?

I think they are both okay in my opinion, because if you do it in Savings on a cex platform, they have a flexible category in their features where you can put it in flexible and anytime you can cancel. While in Staking, once you set it, you choose the duration, which is either 1 month, 3 months, or 1 year.

Once you set up staking, your assets will remain locked until you've chosen a specific duration will unlock, dude. This is how their procedure works as far as I know about it,
but overall they are both good in anyway.

mich

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Quote from: ? on December 18, 2024, 04:39:15 AM

Quote from: mich on December 18, 2024, 04:26:44 AM

Well for me I do think it is better to have some savings. We all do like this idea of making easy passive income. And staking our coins is a good way for for us to do this.
For me I did use to stake my coins but I was always afraid I could lose them at any certain time.To not have the keys for your coins really does mean we do not own them.
This is how come there is free income to leave the coins on the exchanges. We do not have this control over them some investors want all the time.

Save the main part of your funds, and stake the part you are okay with.
Simple as that, really.

Well I am not ok with losing any of my funds. That is why I am not staking any more on the exchanges.
It is a chance I can still lose some of them or all of them. I do not think it is a big chance like this to happen but I will be thinking about it all the time.

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There is no need to distinguish the difference of two and what is more preferable and worthier to do. In exchanges term, they're both the same. You save and they tell you that you have stake your USDT on them or any other cryptocurrencies that they have to give you percentage of return. But there is a broader meaning of staking in reality, you help those POS coins to validate their transaction and you get the reward that's it, if it's not staking on exchanges.

avikz

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Quote from: Iamcrypticguy on October 17, 2024, 12:22:11 PM

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?

Given a choice, I will choose staking over savings. Staking will actually help you to increase your holding and you will enjoy the capital gain at the same time. Whatever savings plan you are seeing in the market today, are all unregulated. So if any company runs away with your money, you are gone! In staking, you lock your money in the Blockchain so running away with your fund won't be possible.

So my vote is with staking only! Even pool staking is profitable and less risky.

Topic: Staking or savings: Which is better? (Read 642 times)