Topic: Where do you stake? Exchange or wallet? - page 4. (Read 680 times)
Majorly depends on how the project is designed but it most cases that I have tried like that of veil privacy coin. Staking is done in the Veil wallet. All you need do is leave the wallet open. Generally, it's relative to platform in most cases besides wallets are safer too
i stake in on exchange and on my wallet. for wallet, i staked waves and LTO while on exchange, i stake XRP, TRON, NEO and ferrum. they might be shit coin i guess but that what i can offer. i love their ROI and it is annually. still looking out for nice staking platform out there if you might share any, i will be delightful.
Personally, I am not a fan of staking and this is because of the penchant for projects to be increasingly unstable. CEOs and project team members can have disagreements that will hamper the project and whatever staking plans you have engaged in. It's a risk I am not willing to take personally.
Exchanges are meant for trading only, if you are going to use them for staking then you are in risk of losing funds.
That is true, but man I had better luck staking just a small amount of pivx on kucoin than I did in the pivx staking wallet. Didn't do it for long, tho because I'm very aware of the risk of keeping crypto on an exchange. Kucoin is a good exchange, but that doesn't mean I would trust them not to get hacked or to pull some kind of exit scam. It seems like that has happened to most of the exchanges that have ever existed thus far. That's sad.So I would have to vote for keeping your staking coins in a staking wallet and *not* on an exchange, especially if you have a lot of coins or if they're worth a lot of money. It was okay for me to play around with pivx because it wasn't worth much but if I had even $50 or more I would have kept it in my own wallet.
After losing my coins on Cryptopia, I only used exchange wallet for trading and never for storing
And they were a big exchange and a reputable one at that. That's my point. You just can't tell whether the exchange that you're putting your faith in is going to disappear overnight.If you are conscious to the tokens security then you wouldn't think of staking your tokens in the exchanges as its just suppose to be where you trade. Some people may really wanna do store the coins on the exchange but these are the type of people who might just dump the coins later on when opportunity is there like if the coin is pumped.
Both, I have some coins in wallets, official wallets, and I have some tokens from different exchanges, they are sitting there and generating some income over the time. Staking is a good way for generating passive income, its hard to start, to invest in first coins, to set up everything, but after that you do nothing and money is coming.
As technology is evolving, exchanges has become one of the easiest and fastest way to stake coin and earn profit. So if you are holding any such POS cryptocurrencies, then I think you should know how to start earning dividends by staking them in the right wallets as another option.
Never ever trust exchanges to stake. Firstly you will never know if the taking some off the top since there is compounding interest. Secondly, there is the possibility the exchange will run an exit strategy or something happens and they go offline you lose everything. If you do not have the privatekey with you in your wallet then you do not own the coins. The privatekey is with the exchange and you are at their mercy.
There only reason people use exchanges is mostly for staking with masternodes since they are very expensive.
What are you talking about? It certainly is not trustless.
There only reason people use exchanges is mostly for staking with masternodes since they are very expensive.
Both, some exchanges do not support particular tokens, or exchanges are just trustless. The majority of my coins is placed on different wallets, but I am also holding stacking coins on exchanges like Binance or Huobi.
What are you talking about? It certainly is not trustless.
Both, some exchanges do not support particular tokens, or exchanges are just trustless. The majority of my coins is placed on different wallets, but I am also holding stacking coins on exchanges like Binance or Huobi.
most of my tokens are now in binance's wallet.
I trust big exchange only. if there's any lost, I would claim and make refund. that's would never happen when using my own wallet.
but remember, big exchage only
I trust big exchange only. if there's any lost, I would claim and make refund. that's would never happen when using my own wallet.
but remember, big exchage only
I don’t participate in staking at all because the reward is very low. I prefer to trade these coins. before the staking is paid, the price usually falls, because after payments people sell their rewards
Where do you stake?
I prefer NRG/Energi with their core wallet. It's looks cool for me
I prefer this because their core wallet is safe I think and minimum for staking just 1 NRG
Considering the safety of your coins and the simplicity of staking process, do you stake in centralized exchanges or you consider using crypto wallets that supports staking like imtoken, trust and atomic wallet.
Where do you stake?
Imtoken is the best mobile wallet I've ever used.Where do you stake?
never had any trouble in lost money or something like that. so I use it all the way since then.
I don't really trust the exchanges wallet though, just transfer coins when I want to sell only
Considering the safety of your coins and the simplicity of staking process, do you stake in centralized exchanges or you consider using crypto wallets that supports staking like imtoken, trust and atomic wallet.
Where do you stake?
Obviously staking in compatible wallets with good reputation is safer than staking on centralised exchanges comparatively. However, some coins do not have personal wallet support for staking especially on mobile, and you know most people make use of mobile devices presently, hence people tend to use supported exchanges in this situation. Where do you stake?
Considering the safety of your coins and the simplicity of staking process, do you stake in centralized exchanges or you consider using crypto wallets that supports staking like imtoken, trust and atomic wallet.
Where do you stake?
I think before binance everything did made sense to keep it on your own wallet and stake, or something like a virtual pc VPS type of deal where you can keep it (with protections and backups of course) but after binance I started to feel like maybe the best way to keep your money could be binance?Where do you stake?
I am not really entirely sure and I haven't moved my money there just yet but I feel like binance is such a huge place that they could not only help you get faster payments on your staking (the amounts are same but bigger amount gets paid faster so when all of us combined we get the same money but faster and smaller instead of bigger and longer) but also might start on masternodes as well.
For example, one dash masternode was around 1000 dash if I am not wrong which is not something everyone can do, but if 1000 people get together it becomes much easier.
It seems to me that you should not trust the wallet that stores your keys, it’s not known where, because they may fall into the hands of just as unknown and your funds will go in an unknown direction, because there have already been so many different situations where people have stolen funds from the wallet and there were not return, I think it's better to resort to hardware wallets. I use ledger and there is no limit to my joy, as this is the best you could think of for a cryptocurrency.
Considering the safety of your coins and the simplicity of staking process, do you stake in centralized exchanges or you consider using crypto wallets that supports staking like imtoken, trust and atomic wallet.
Where do you stake?
None of those. I prefer staking using official wallet or mostly delegate my coins and claim reward/interest. It's better to stake on your own than rely on third party service or wallet. Where do you stake?
Considering the safety of your coins and the simplicity of staking process, do you stake in centralized exchanges or you consider using crypto wallets that supports staking like imtoken, trust and atomic wallet.
Where do you stake?
If asked to choose I prefer to exchange, because if I feel the wallet more vulnerable to irresponsible principals. Where do you stake?
For longterm storage of token I prefer a wallet that I have access to its private keys. Anything can happen in a year for an exchange especially in this era where exchange COO can just run away with its staff, so what happens to my coin. Exchange and coin project team can have misunderstanding and delist such project, exchange is not a reliable position for any coin for longterm staking. Top exchanges are more reliable but 3-6 month is the best I can go on them
Stay away from exchanges. Wallets will be your best choice to keep your money safer in every respect.
Now I only participate in staking on the gate Io exchange. sometimes there appear very promising coins for staking. It happens that there is ethereum staking at 10 percent per month. and now I participate in the staking of SERO COIN and will receive 50 percent of the frozen coins for 90 days
WOW. Is not 50% too much for 90 days? While others are 7-10% per year, this is suspicious. I have done some research about Sero, but I have not seen any major problems with complaints apart from bounty hunters. Volume is also around 6 million bucks, but I still recommend you to be careful.An offer that big would look like its going to end like a scam. This project if I remember did n IEO on gate exchange, it quickly gain after it but slowly dumped as well. Maybe because of this 50% growth too.
Staking ETH later might just be a good idea too unless there will be a pool like this one that might cause the dump. Better avoid staking on exchange and the tokens that allow exchange staking.
Jump to: