Staking really great way in crypto wealth - page 4.

slaman29

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Quote from: Similificator on May 05, 2023, 12:05:01 AM

Well, it's quite good to stake since it gives profits without putting in a lot of effort but it does have it's cons as well. So before staking make sure that the coin or token that you are staking is a good one, that you are on a safe platform for staking, that the quantity is enough to make the profit from staking worth your while, etc., etc. Because for staking, there are risks due to it taking a long time before being able to get those profits. Some staking lasts for months and some for years. Some also gets locked till the staking duration is over. And believe me, a LOT of things can happen in just a span of few months. So be mindful of what coin you choose to stake and how reputable the staking platform you chose is.

When has something that you can get and yet doesn't need effort been useful to you in any moment in life right?

Faucets? Airdrops? Staking?

I have done staking long ago, and made a huge experiment with it. I opened something like 20 wallets and bought the coins and staked them manually. I even opened POSwallet and maybe another 20 or 30 coins in there all staking for me.

Guess what? Did I make profit? I'm here, not rich and no longer staking.

It's con is literally a con Tongue

irhact

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Quote from: ololajulo on May 04, 2023, 05:11:25 PM

I appreciate the concept of staking, as it helps to prevent coin dumping. However, I believe that this idea requires proper management. For instance, some of the coins that have been staked for the long term will be unstaked this month, which indicates that the coins will eventually be dumped. What if the unstaking of these coins is staggered over the years while staking continues in a cycle? It's evident that staking still has its weaknesses, which should be addressed.

This weakness has caused lots of problem in the past that lead to fud and made many peoject to dump so some projects has decided to make their unstaking period not to have a fixed date so everyone doesn't go to unstake on that particular date to cause a panic in the market. Unstaking period are now flexible and you can unstake at anytime for most project.

Exchanges that offer staking rewards also has this two options as well, you can decide to stake for a longer period of time that'll have more rewards attached or participate in flexible staking campaign that can be unstaked at any time of the day. It's left for the individual to decide.

Similificator

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Well, it's quite good to stake since it gives profits without putting in a lot of effort but it does have it's cons as well. So before staking make sure that the coin or token that you are staking is a good one, that you are on a safe platform for staking, that the quantity is enough to make the profit from staking worth your while, etc., etc. Because for staking, there are risks due to it taking a long time before being able to get those profits. Some staking lasts for months and some for years. Some also gets locked till the staking duration is over. And believe me, a LOT of things can happen in just a span of few months. So be mindful of what coin you choose to stake and how reputable the staking platform you chose is.

LastKiss

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Quote from: Natalim on May 04, 2023, 11:57:55 PM

Quote from: wajik-tempe on May 04, 2023, 10:58:58 PM

Although staking carries no risk of liquidation, there is always a chance that the asset's price could decline, bringing about lower rewards or losses. The benefits you receive for staking may also not always be guaranteed and may change based on the market and network's staking policies.

Additionally, the new exchange feature that allows users to earn interest may be a good way to generate passive income without having to worry about the specifics of staking.

The idea of staking is just to encourage investors to hold their coins and earn some percentage while waiting for the price to grow. It somehow builds confidence to holders that a few weeks from staking they'll double their rewards as they sell them. It was now a usual practice by many investors but honestly, I don't do it for the sake that I want to keep my funds secured because I know that the rewards I probably get from staking are very small and aren't convincing for me and most of all, the risks from losing them all if the platform turn scam.

That's why we should wait until the bear market happens cause when that happens we can buy the crypto at a low price and start staking until the bull market starts again. to avoid from scam crypto we can choose top altcoins that have a staking feature with that we can reduce the chance we will get scam by the project.

Natalim

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Quote from: wajik-tempe on May 04, 2023, 10:58:58 PM

Although staking carries no risk of liquidation, there is always a chance that the asset's price could decline, bringing about lower rewards or losses. The benefits you receive for staking may also not always be guaranteed and may change based on the market and network's staking policies.

Additionally, the new exchange feature that allows users to earn interest may be a good way to generate passive income without having to worry about the specifics of staking.

The idea of staking is just to encourage investors to hold their coins and earn some percentage while waiting for the price to grow. It somehow builds confidence to holders that a few weeks from staking they'll double their rewards as they sell them. It was now a usual practice by many investors but honestly, I don't do it for the sake that I want to keep my funds secured because I know that the rewards I probably get from staking are very small and aren't convincing for me and most of all, the risks from losing them all if the platform turn scam.

wajik-tempe

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Although staking carries no risk of liquidation, there is always a chance that the asset's price could decline, bringing about lower rewards or losses. The benefits you receive for staking may also not always be guaranteed and may change based on the market and network's staking policies.

Additionally, the new exchange feature that allows users to earn interest may be a good way to generate passive income without having to worry about the specifics of staking.

dansus021

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You right when the bear market comes I just do staking and wait for the better price to exit while waiting we can see our coin is growing but the staking itself has a risk.

I like new coin/token back when the bull market I heavily invest in new coin usually on BSC ecosystem or other EVm chain compatible but after that the token price is drop to zero or turn into ash this is one of the risk if you staking with new coin it always better to find a good staking coin like BNB ETH Cardano although big coin like I mention before has low APY so this is fair

ololajulo

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I appreciate the concept of staking, as it helps to prevent coin dumping. However, I believe that this idea requires proper management. For instance, some of the coins that have been staked for the long term will be unstaked this month, which indicates that the coins will eventually be dumped. What if the unstaking of these coins is staggered over the years while staking continues in a cycle? It's evident that staking still has its weaknesses, which should be addressed.

kojektea

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t makes more sense to use it when in a negative market. because staking can make us produce even though we have to wait longer, but it's much safer than having to trade when the market is negative. although this takes a long time and the actual staking should be with not too high APY to avoid rugpulls in the future.

bittraffic

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Quote from: Blowon on May 04, 2023, 04:12:58 PM

unfortunately these staking are those who are very patient in reaping profits. Real staking usually takes quite a long time and a lot of capital for moderate profits. well, if it is to fight an unstable market staking is the best option. I recommend not staking on new websites or on high APY as they have a short life to invest.

As usual you benefit more when you bought your tokens at the very early stage of the project where the price is just cents that even after the bull run, you still can see its profiting and you won't be scratching your head regretting you should have sold while the price was high.

Those who bought Cardano (ADA) while the price was just $0.02 enjoys it still while those who bought at $3 are quitting before it even dip to $2. That's the lesson to learn every time a bull market is about to end.

Blowon

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unfortunately these staking are those who are very patient in reaping profits. Real staking usually takes quite a long time and a lot of capital for moderate profits. well, if it is to fight an unstable market staking is the best option. I recommend not staking on new websites or on high APY as they have a short life to invest.

Dr.Bitcoin_Strange

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Quote from: darewaller on May 04, 2023, 10:16:39 AM

Quote from: Dr.Bitcoin_Strange on May 02, 2023, 09:27:00 AM

I can tell you that exchange staking is not a real method to gain crypto wealth.

Maybe you mean to say is that, staking is not effective if one is having an ambition of earning a huge a income.

Well, yes, if that's what it is. It's really not a very effective way because the ROI is very low. I don't know, but after staking, I think the exchange uses the staked token or coin to make a huge profit, whereas they only give you a little profit as ROI. Imagine staking $1000 for like two months on Binance, and you can not even get up to $15 in ROI for that period of two months. It's really poor to me; I don't know what others think, though. At least if the person has loaned that money out for like two months, they will have about $20 in interest or even more.

darewaller

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Quote from: Dr.Bitcoin_Strange on May 02, 2023, 09:27:00 AM

You can wake up the next day and find that the centralized exchange you are trusting your coins with has folded, and you can't do anything to get your lost coins back. And by the way, this staking on exchange you are talking about doesn't really add much interest to your coin (so, it's not really a great way to make crypto wealth),

That is one of the risks in staking, that a platform can get seized but I think it's also possible to stake without transferring your funds into someone else. This is more safer but I don't know if there are disadvantages of doing this like a reduction in reward, something like that. I see that the staking rewards in a centralized platform is also small so it's not worth the risk then. Better if we will just hold the coins in our own or do trading, as this two are already known as the best ways to earn a profit.

Quote from: Dr.Bitcoin_Strange on May 02, 2023, 09:27:00 AM

I can tell you that exchange staking is not a real method to gain crypto wealth.

I wouldn't say its fake either unless if the exchange was a scam. Maybe you mean to say is that, staking is not effective if one is having an ambition of earning a huge a income.

shinratensei_

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Quote from: adaseb on May 01, 2023, 11:23:58 PM

Staking and earning yield has a bad reputation due to what happened with all those lending platforms that went bust. People basically didn’t want to take risk, so they lent their crypto to earn a yield and look what happened.

So sure it’s great however there are way too many underlying issues, especially when it can get stolen. Even those liquidity provider on Defi is risky due to IL or due to some bug which drains all the funds.

this much is true, staking might sometime pose some risk of losing the investment staked altogether, even there are also histories of harmful staking contract that could drain the money.
usually i'd refrain from staking my money in newly founded platform as it's still lacking the reliability that i can trust it enough with my money. instead i'd just stake in binance or somewhere else that already has the reputation.
but even then the apy and interest aren't really sufficient so it could be waste of time, generally though in term of staking and even providing liquidity you will be required to have big capital if you want to have meaningful profit generated from it, otherwise you should forget about accumulating wealth massively as we have pictured, even those with massive APY are nothing but illusion for marketing, of course the high APY also come with some risk like the altcoin eventually losing the value and even got rugpulled.

dunfida

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Quote from: fullhdpixel on May 03, 2023, 03:11:11 PM

Quote from: Gallar on May 02, 2023, 10:29:40 AM

Regarding risking crypto assets, you are right that sometimes by risking them if you are lucky you can get quite large profits, but it takes a strong enough mental preparation for all the worst possibilities, namely in essence a sizable loss. Maybe for people who dare to take high risks it would be great.

It's like staking crypto. This method is indeed a simple way to do, especially for people who are busy with other jobs, surely by staking crypto this is an easy method to implement. But all these conveniences, do not escape the name of a fairly large risk. One of them is the occurrence of a sizeable price decrease in crypto assets, something like that will create a sizable loss for people who stake on the crypto, especially if you stake crypto by locking the assets, you will definitely face losses. and for beginners in crypto, I don't recommend doing this crypto stake method, for fear of being scammed. Because beginners still have very little knowledge about trusted sites or blockchains.

It is true that we are talking about something that is risky when we are trying to make a lot more money but at the same time we are talking about a deal that is potentially losing all of our money as well. There is no reason to do this if you think that you can find alternative ways you could make a profit from.

I personally believe that the best thing to do right now is to make sure that we could make a profit using this method and that should be fine. I know that it's not going to be a big deal, but at the end of the day if you could just focus on what is real and realistic and act on that, instead of risking too much and buying something that may crash to zero, that would be a lot better and I feel like that should be a good deal.

Im aint really on having the courage on parking out my coins into those validators and would be having those staking.Yes, it could make you earn more coins out of those parked coins but we cant be able to tell on when those things turns out to be shit and on the time that you would really be selling out just because you do see some pumping opportunity or moment then it is really just sad that unbonding period is really just
the main hindrance on why you wouldnt be able to do so.

Just like what most been saying on here, and also with APY's which its really that good to look at on but it would be always varying on the coin/token value, because if it do drops then
all of your accumulation would really be still useless but well these things would really be depending on you on which on how much risks you could be able to put on.
We cant just know on what would happen next.

fullhdpixel

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Quote from: Gallar on May 02, 2023, 10:29:40 AM

Regarding risking crypto assets, you are right that sometimes by risking them if you are lucky you can get quite large profits, but it takes a strong enough mental preparation for all the worst possibilities, namely in essence a sizable loss. Maybe for people who dare to take high risks it would be great.

It's like staking crypto. This method is indeed a simple way to do, especially for people who are busy with other jobs, surely by staking crypto this is an easy method to implement. But all these conveniences, do not escape the name of a fairly large risk. One of them is the occurrence of a sizeable price decrease in crypto assets, something like that will create a sizable loss for people who stake on the crypto, especially if you stake crypto by locking the assets, you will definitely face losses. and for beginners in crypto, I don't recommend doing this crypto stake method, for fear of being scammed. Because beginners still have very little knowledge about trusted sites or blockchains.

It is true that we are talking about something that is risky when we are trying to make a lot more money but at the same time we are talking about a deal that is potentially losing all of our money as well. There is no reason to do this if you think that you can find alternative ways you could make a profit from.

I personally believe that the best thing to do right now is to make sure that we could make a profit using this method and that should be fine. I know that it's not going to be a big deal, but at the end of the day if you could just focus on what is real and realistic and act on that, instead of risking too much and buying something that may crash to zero, that would be a lot better and I feel like that should be a good deal.

Gallar

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Quote from: Squaremile777 on April 27, 2023, 04:07:48 AM

Staking when price fall you just buy more and put in to staking once price goes up you don't need to sell it you continue to staking so after u earn more.
The new feature on exchangers the EARN could be one of the best ways to earn income some of them Even no lock up or little as 14 days.
No liquitation risk and you sleep well newbie friendly method..instead of trading off course If you know what you doing trading good Also but staking Are great one.

Regarding risking crypto assets, you are right that sometimes by risking them if you are lucky you can get quite large profits, but it takes a strong enough mental preparation for all the worst possibilities, namely in essence a sizable loss. Maybe for people who dare to take high risks it would be great.

It's like staking crypto. This method is indeed a simple way to do, especially for people who are busy with other jobs, surely by staking crypto this is an easy method to implement. But all these conveniences, do not escape the name of a fairly large risk. One of them is the occurrence of a sizeable price decrease in crypto assets, something like that will create a sizable loss for people who stake on the crypto, especially if you stake crypto by locking the assets, you will definitely face losses. and for beginners in crypto, I don't recommend doing this crypto stake method, for fear of being scammed. Because beginners still have very little knowledge about trusted sites or blockchains.

Dr.Bitcoin_Strange

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You can wake up the next day and find that the centralized exchange you are trusting your coins with has folded, and you can't do anything to get your lost coins back. And by the way, this staking on exchange you are talking about doesn't really add much interest to your coin (so, it's not really a great way to make crypto wealth), despite the fact that some of those CEX have a 14-day or one-month lockup period, but it doesn't add much interest to your coins. If you doubt me, you can tell us the amount of coin you have staked and the dollar value of the coin, so we know if it really is worth anything. I can tell you that exchange staking is not a real method to gain crypto wealth. It is better to hold your coin in a self-costodial wallet so that you have control of your asset than to leave it on the CEX.

Smack That Ace

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Quote from: Yamifoud on May 02, 2023, 07:48:33 AM

Quote from: Squaremile777 on April 27, 2023, 04:07:48 AM

Staking when price fall you just buy more and put in to staking once price goes up you don't need to sell it you continue to staking so after u earn more.
The new feature on exchangers the EARN could be one of the best ways to earn income some of them Even no lock up or little as 14 days.
No liquitation risk and you sleep well newbie friendly method..instead of trading off course If you know what you doing trading good Also but staking Are great one.

It could be one way of earning a profit but this is not the best way of earning. Because what you did is just you are simply risking your funds more than just holding them in your controlled wallet.
Might you be right in saying it was great but if you know to trade, I don't really think it is the best option to take, I'll go trading instead and make money more than the profit that I could get from staking. Because if you actually know about staking, you will realize that your money doesn't grow fast but what you get is just a few bucks while these exchanges where you staked had earned more.

There is no such thing as the best way to make money. Trading is not easy, and there is no guarantee that you will always make a profit daily, monthly...everything has its risks.

If you are a trader, you have no choice but to use centralized exchanges. But if staking to earn a few dollars, we have to risk depositing our money in centralized exchanges, that is too risky, and the reward is not worth it. Don't forget the collapse of lending and staking platforms last year.
I would rather hold my assets in a non-custodial wallet and wait for the bull season to come than take too much risk staking coins on CEX with too small returns.

Yamifoud

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Quote from: Squaremile777 on April 27, 2023, 04:07:48 AM

Staking when price fall you just buy more and put in to staking once price goes up you don't need to sell it you continue to staking so after u earn more.
The new feature on exchangers the EARN could be one of the best ways to earn income some of them Even no lock up or little as 14 days.
No liquitation risk and you sleep well newbie friendly method..instead of trading off course If you know what you doing trading good Also but staking Are great one.

It could be one way of earning a profit but this is not the best way of earning. Because what you did is just you are simply risking your funds more than just holding them in your controlled wallet.
Might you be right in saying it was great but if you know to trade, I don't really think it is the best option to take, I'll go trading instead and make money more than the profit that I could get from staking. Because if you actually know about staking, you will realize that your money doesn't grow fast but what you get is just a few bucks while these exchanges where you staked had earned more.

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