Staking or savings: Which is better? - page 2.

Nwada001

hero member

Activity: 798

Merit: 702

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

hero member

Activity: 2044

Merit: 784

Leading Crypto Sports Betting & Casino Platform

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

sr. member

Activity: 658

Merit: 293

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

legendary

Activity: 3122

Merit: 1032

#1 VIP Crypto Casino

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.

?

Activity: -

Merit: -

many people use atomic wallet and its not custodial

and lost money

still not get compensations or etc

be carefoul with savings Grin

fikrett

copper member

Activity: 126

Merit: 6

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

hero member

Activity: 2912

Merit: 556

Enterapp Pre-Sale Live - bit.ly/3UrMCWI

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.

?

Activity: -

Merit: -

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

hero member

Activity: 1932

Merit: 546

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

legendary

Activity: 3122

Merit: 1032

#1 VIP Crypto Casino

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.

passwordnow

hero member

Activity: 3192

Merit: 597

Leading Crypto Sports Betting & Casino Platform

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

legendary

Activity: 3080

Merit: 1500

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.

itorai

member

Activity: 176

Merit: 34

Reward: 10M Shen (Approx. 5000 BNB) Bounty

Quote from: l99l on December 17, 2024, 10:28:45 AM

There may be a bug or security vulnerability in the protocol or software of the network where the stake is made.
In such cases, assets may be at risk, I cannot ignore this, so it is best to save.
In fact, it is best to be patient and save small amounts of bitcoin, in my opinion, it will be safe, if you distribute your assets to different places, there will be nothing left to think about.
When you stake, there will be a lot of risk that will make you think, which is very tiring, but ultimately the choice is yours. High risk, high profit or zero.

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.

GideonGono

hero member

Activity: 2086

Merit: 501

★Bitvest.io★ Play Plinko or Invest!

If I don't have anything to do with my money then I would just stake it, but if I know or feel that I could earn more by trading then I would rather trade than to lock my funds for a certain period of time.
I've tried staking before locking my funds to earn, however I missed some opportunities to sell them for a high price because of it.

?

Activity: -

Merit: -

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.

mich

legendary

Activity: 3122

Merit: 1032

#1 VIP Crypto Casino

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.

l99l

full member

Activity: 154

Merit: 115

There may be a bug or security vulnerability in the protocol or software of the network where the stake is made.
In such cases, assets may be at risk, I cannot ignore this, so it is best to save.
In fact, it is best to be patient and save small amounts of bitcoin, in my opinion, it will be safe, if you distribute your assets to different places, there will be nothing left to think about.
When you stake, there will be a lot of risk that will make you think, which is very tiring, but ultimately the choice is yours. High risk, high profit or zero.

Yucky

full member

Activity: 266

Merit: 133

Staking altcoins can be a more viable option. This is because the potential loss is relatively lower compared to staking Bitcoin. If the price of an altcoin drops, the loss will not be as significant as if Bitcoin's price were to drop. This makes it easier to stomach the risk.

That being said, I do think it's worth exploring staking options for altcoins. You never know what potential revenue they might generate. Staking one or two altcoins can be a good way to test the waters and see what returns you can get.

After all, the ultimate goal of investment is to multiply your investment. So, maybe staking some coins while holding onto others might not be a bad idea. At least, you will be generating some passive income while waiting for the coin's value to appreciate.

DediRock

newbie

Activity: 44

Merit: 0

Staking can give you bigger rewards than savings, but it comes with more risk and may lock your money for a while. Savings is safer and lets you access your money easily but usually has lower returns. The best choice depends on how much risk you’re okay with and how soon you might need your money.

yhiaali3

legendary

Activity: 1848

Merit: 1982

Payment Gateway Allows Recurring Payments

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? - page 2. (Read 839 times)