Topic: Would You Advise People To Stake? - page 2. (Read 615 times)
As for me, staking of alts is pretty risky thing. You can stake it for 17% apy in token but it may go down 25% for that year to btc/usd. And you will loose time and money at the end
Sure ,I would advise people to stake different Crypto-pairs including stable currencies especially during the bull market,staking is very profitable and one can easy make some money doing it.The only negative side is staking during the bear market which can easily results into a loss.
When a coin is staked on its own platform, the return is very low, but when staked on a third party platform, the interest is high, but it is high risk. because of this I don't advise anyone to stake because investing in cryptocurrency is already very risky but when it is staked the control of that currency is completely transferred to someone else. which is high risk and thus many people lose a lot of money. And this is why staking may not be a smart idea. I always advise everyone to wait to buy a coin until they can profit from it. And whenever he is in profit it should be sold immediately
I stake some coins in some places... why not? Crypto is full of good stuff and I think people should try it. Please don't go for some crazy high APY, it's usually some scam... but staking in some exchanges and wallets with some reasonable APY, and in my case in casinos too, is bringing some passive income and it's pretty safe, at least I didn't encounter any issues over the years.
Staking on centralized exchanges is dangerous because centralized exchanges have much more opportunities to take your coins away from you than if you were staking on decentralized exchanges. Decentralized exchanges have their own risks because smart contracts are often hacked, but they have fairer rates than centralized exchanges, whose pools very often lower interest rates as you hold your funds in those pools.
In staking coins system has the rule with high risk get high return later, staking with unpopular coins seems interested actually first time launching to public they will give excited staking reward above 100%, but can't guarantee with stable price for few weeks later and its high risk when staking with new coins publishing. Many people loss their money after staking with new coins launching probably want to give more than 200 APY reward staking but after unlocking time arrive price drop drastically.
Its not moment for staking coins and have APY above 20% each years, many kinds of staking coins under 8% but still get risk with price not stable yet actually we need waiting until one year later. Be careful when finding new coins launching and brave with staking reward above 200% until 500% because not guarantee with price stable for long term.
Its not moment for staking coins and have APY above 20% each years, many kinds of staking coins under 8% but still get risk with price not stable yet actually we need waiting until one year later. Be careful when finding new coins launching and brave with staking reward above 200% until 500% because not guarantee with price stable for long term.
The APY in some staking processes is way high to be true. Most of these turn out to be scams in a year or two. If people were getting rich just from staking we would have seen a decrease in poverty because everyone would have been trying it and it would be suggested by everyone on this forum too.
The truth is that many people have lost money through staking and most are not willing to reveal their mistakes on this forum because of guilty feeling and shame, although I never got my hands dirty with it. Hence I dont advice people to stake, or go for shitcoins and memecoins. Keep yourself limited to bitcoin and trading at the most.
The truth is that many people have lost money through staking and most are not willing to reveal their mistakes on this forum because of guilty feeling and shame, although I never got my hands dirty with it. Hence I dont advice people to stake, or go for shitcoins and memecoins. Keep yourself limited to bitcoin and trading at the most.
My opinion is "No". You shouldnt stake. Landing might be a nice investment, but I mean stablecoins or some well known currencies like BTC, ETH, XRP or TRX. Well, landing USDT for 2-3% won't give you a big profit. But you get USDT, which is almost equal to $. There is no reason to get 1234550000% yearly from some token if its token price will fall to 0 
.
. I stake some coins in some places... why not? Crypto is full of good stuff and I think people should try it. Please don't go for some crazy high APY, it's usually some scam... but staking in some exchanges and wallets with some reasonable APY, and in my case in casinos too, is bringing some passive income and it's pretty safe, at least I didn't encounter any issues over the years.
I won't say it's safe but it's worth the risks because you're getting some passive income instead of your coins just sitting in your wallets doing nothing. Its isn't safe because those platforms that allow staking are mostly centralized platforms and they're big target to hackers that knows alots of coins are on these platforms and if they get hacked you might loss all your coins.
Not every platforms will have the resources to pay their customers from their reserved and some platforms don't have emergency funds because most platform that looks successful to us aren't as successful as they look. They might not have the resource to cover for all the coins that were stolen just as we have seen with the defi projects getting hacked and just closed down.
We're taking risk leaving our coins on centralized platforms. The passive income feels good but please know what you're doing so you don't blame the industry when it isn't its fault but the fault of the platforms you want to trust. Don't invest all you money into staking on centralized platforms because there could be so many thing that could go wrong and hacking is just one of them.
I'm a beginner so I put it in the Beginners & Help section.
Coinbase offers "Cosmos" with a yearly annual return of 17.66%.
I did some research on Cosmos and its future looks bright.
On my research, it says to only Stake on huge platforms, such as Coinbase.
I realize the drawback is you freeze your funds for a certain amount of time.
The other drawback is because of Crypto's ups and downs, you might lose money if it goes down. But that's true of any crypto, including BTC.
As far as I can tell, the annual return stays at 17.66% for the duration.
Is there any drawback I'm missing?
Why don't people just buy Cryptos that they can stake?
Coinbase offers "Cosmos" with a yearly annual return of 17.66%.
I did some research on Cosmos and its future looks bright.
On my research, it says to only Stake on huge platforms, such as Coinbase.
I realize the drawback is you freeze your funds for a certain amount of time.
The other drawback is because of Crypto's ups and downs, you might lose money if it goes down. But that's true of any crypto, including BTC.
As far as I can tell, the annual return stays at 17.66% for the duration.
Is there any drawback I'm missing?
Why don't people just buy Cryptos that they can stake?
if I have a platform to use to make stakes or Farming it is only Binance and Biswap, because I tried to stake Bitcoin using Binance for 90 days and based on my experienced it was good and I never encounter any such problems.
And in dex, biswap was one I trusted this platform never fails me it always satisfies me every time I made a staking here. it may not be good to others but for me it was good in my experience as well.
Right now I don't think it's a good idea to advise others to stake, because there are several risks involved on this kind of investment:
The platform might disappear suddenly, scamming everyone;
The coin or token you are staking can lose price considerably;
Yield paid can be decreased any time by the platform.
If you advise someone staking, they will go after you once they face one of the issues mentioned above and they will want to play you guilty for their personal losses on the staking programs they joined. What I can tell you is to advise people to make their own research before staking and looking for the pros and cons of such investments.
The platform might disappear suddenly, scamming everyone;
The coin or token you are staking can lose price considerably;
Yield paid can be decreased any time by the platform.
If you advise someone staking, they will go after you once they face one of the issues mentioned above and they will want to play you guilty for their personal losses on the staking programs they joined. What I can tell you is to advise people to make their own research before staking and looking for the pros and cons of such investments.
If the user has a lot of ETH, why not. Institutions are also staking, he just has to figure out how many ETH he has so that he can already figure out how much he'd be earning for the whole year.
The Platform however is not very attractive with ETH staking. It's best that the user can sell when the bull run is closer to an end. This I guess is supposed to be learned. It's more reasonable to sell in the bull run in my opinion.
We can still unstake our coins and then sell on the best times. It should give us a better profit than if we will do one activity only. There are indications if when will the bull run can possibly come. We only need to take note of those dates and stake in advance so that we can unstake easily and prepare for it once they are getting close.
I stake some coins in some places... why not? Crypto is full of good stuff and I think people should try it. Please don't go for some crazy high APY, it's usually some scam... but staking in some exchanges and wallets with some reasonable APY, and in my case in casinos too, is bringing some passive income and it's pretty safe, at least I didn't encounter any issues over the years.
Non-significant high APY would indeed be an early indication of a scammer, but if you stake your crypto assets on a centralized exchange with reasonable APY it is indeed safer. But you also need to see how the exchange performs in payments and other transactions. If it gets recommended a lot like Binance, it's a good place. and if you haven't had any problems for years it's definitely a recommendation. 
I stake some coins in some places... why not? Crypto is full of good stuff and I think people should try it. Please don't go for some crazy high APY, it's usually some scam... but staking in some exchanges and wallets with some reasonable APY, and in my case in casinos too, is bringing some passive income and it's pretty safe, at least I didn't encounter any issues over the years.
I honestly don't recommend this kind of making money from crypto because I had joined once a bounty where they offered staking and when lots of people bought their coins, they run away and sold a massive amount of coins also their social media are not active anymore, so it was clearly a pump and dump coin. There are lots of such coins offering staking and most of them offer high returns of percentage but you cannot distinguish the legit from scam because both are pretty active in their social media updates at first.
Yes, we could assume that those who decide to stake are aware of the situation they are taking. It was tempting to see some exchange offers huge taking percentages and it really encourage investors to put their money at risk. Unfortunately, greedy people will closely fall into temptation and soon regret it. But that was good for them at least their experience will help them realize that staking is not good for all coins because many are false offers and a kind of scam trick.
It depends on where you're staking. I personally do the flexible savings on the exchange I use.
Just be mindful that whenever you deposit and stake on the exchanges, it doesn't really mean that you're staking there. But it means that your account and deposit are on an interest mode for which they're earning from your deposit and you have no custody over it because they do.Bitget flexible savings allows you to withdraw at any point in time.
Most exchanges have this option to do it flexibly but even so, if the time comes that they're experiencing something that resulted in a bad turnover, they can still lock the withdrawals and delay it even how badly you want it. Again, that's not staking if that's in the feature of exchanges because that's only giving you interest rate at their own setting.There was a token named ATM, where many people staked their tokens but in return they got nothing. And that tokens were received by a bounty. Staking is although a good option for new users as they didn't have that much experience in trading at the beginning to choose what to do?
It's good for everybody that understands the concept of it. This is actually good for well established tokens but not for those that have been just launched in the market. ...
Why don't people just buy Cryptos that they can stake?
Well, the truth is that staking is just an option. People choose to stake their altcoins in order to earn a few bucks while holding but don't you know that there is a huge risk in regard to your fund security? Exactly, whatever happens to the exchange, if that will collapse or turn into a scam - you can no longer get your money back. And this is the mean reason why most of investors not preferred to stake but rather keep their coins in their wallets at least they can blame other people. And aside from that staking doesn't offer a huge percentage usually, it was just 3-5% annually. Why don't people just buy Cryptos that they can stake?
With the recent happening across exchange closing down their services is not ideal we should encourage people to venture into staking. It is another trick ways to get you trapped knowing too well that during bull the market might increase exponentially and you could make a reasonable profits from your percentage of holdings after you might have sold.
Naturally I don't like to stake coin in other platform as the chances of losing your funds might be very high, project owners uses staking to control the circulating supply since the duration are always 3 months 1 years and above.
Naturally I don't like to stake coin in other platform as the chances of losing your funds might be very high, project owners uses staking to control the circulating supply since the duration are always 3 months 1 years and above.
As far as I can tell, the annual return stays at 17.66% for the duration.
Is there any drawback I'm missing?
Why don't people just buy Cryptos that they can stake?
Is there any drawback I'm missing?
Why don't people just buy Cryptos that they can stake?
No one will pay you such a rate after a year. For a project to have such profitability, there must be a constant inflow of new funds into the asset. Once LUNA offered staking at 19% per annum and we all know what happened to LUNA after that. In staking, the higher the annualized rate, the higher the chance you won't get paid. I would target 4 or 5% APR, it looks more realistic. Many well-known pools of well-known cryptocurrencies maintain just such rates. Exchange pools very often have dynamic interest rates and they change constantly.... downward.
really be popping out like mushrooms and since pulling out those funds wont really be that immediate since of those unbonding period. Just like on what others been saying that there would be some factors on which it would really be affecting in overall advantage when you do stake. Honestly im not really that seeing this to be worth if we do speak on some altcoins but for top ones then i might seeing to be worth but
if you do really go for short term then it wont really be that a good idea or worth since it wont really be that profitable at all. Staking might that good looking on some people
but there would really be some exemptions.
There was a token named ATM, where many people staked their tokens but in return they got nothing. And that tokens were received by a bounty. Staking is although a good option for new users as they didn't have that much experience in trading at the beginning to choose what to do?
As far as I can tell, the annual return stays at 17.66% for the duration.
Is there any drawback I'm missing?
Why don't people just buy Cryptos that they can stake?
Is there any drawback I'm missing?
Why don't people just buy Cryptos that they can stake?
No one will pay you such a rate after a year. For a project to have such profitability, there must be a constant inflow of new funds into the asset. Once LUNA offered staking at 19% per annum and we all know what happened to LUNA after that. In staking, the higher the annualized rate, the higher the chance you won't get paid. I would target 4 or 5% APR, it looks more realistic. Many well-known pools of well-known cryptocurrencies maintain just such rates. Exchange pools very often have dynamic interest rates and they change constantly.... downward.
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