Topic: Would You Advise People To Stake? - page 3. (Read 588 times)
It depends on where you're staking. I personally do the flexible savings on the exchange I use. Bitget flexible savings allows you to withdraw at any point in time.
Better make some research with many coins have supported with stake and give annual return from 10% until 100% all project have been scam although their coins keep existing in exchange market but many of them price drop drastically. I don't recommended with altcoin for unusual staking because bigger risk when price dropping drastically and you loss much than with profitable earn from annual return above 19%.
Can't predicting at the future Cosmos coins stable price with first time investing until ended with staking time, possibility if price dropped under 20% you don't earn anything due one year staking because price have down and annual return 20% close for your price purchasing on the first time. Right now many people staking with stable coins only and they don't think worth when staking in another kinds of altcoin because have chance for going down.
Can't predicting at the future Cosmos coins stable price with first time investing until ended with staking time, possibility if price dropped under 20% you don't earn anything due one year staking because price have down and annual return 20% close for your price purchasing on the first time. Right now many people staking with stable coins only and they don't think worth when staking in another kinds of altcoin because have chance for going down.
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.
Well in the past I was a fan of staking stablecoins. But I think it is too risky today. I do not even like to keep my coins on Binance and Coinbase. So having them tied up would just make me more nervous. The low percentage reward is not worth it for me.
I do not like knowing a exchange has all the control over my coins. I feel better about myself if I am knowing I hold the keys to my coins.
I do not like knowing a exchange has all the control over my coins. I feel better about myself if I am knowing I hold the keys to my coins.
Staking has several drawbacks, but it does yield a great annual return. However, you seem to be missing a key concept: "impermanent loss."
A staked coin's market price drops dramatically after being deposited in the pool, causing permanent loss. Despite staking benefits, you may have been better off holding the bitcoin in your wallet.
Staking may not be ideal for investors that need their money quickly. Some find the 'unbonding' time inconvenient.
Why arent more cryptos staked? Because not everyone wants their investments locked up, or because the risk of temporary loss weighs on their decisions. Financial strategies and risk tolerance determine the outcome.
A staked coin's market price drops dramatically after being deposited in the pool, causing permanent loss. Despite staking benefits, you may have been better off holding the bitcoin in your wallet.
Staking may not be ideal for investors that need their money quickly. Some find the 'unbonding' time inconvenient.
Why arent more cryptos staked? Because not everyone wants their investments locked up, or because the risk of temporary loss weighs on their decisions. Financial strategies and risk tolerance determine the outcome.
It depends on the mentality of the hodler. The idea of leaving your coin inside a platform you'd want to stake is rather risky, regardless of the possible profits you could gain since they can simply run away with it. You could try Trusted platforms, but as I said, it's all in the mentality of it. Crypto is crypto in the first place because you can make your own bank, if you wanted to make passive profits there are other alternatives out there where there's less risks involved (in terms of exit scams).
Besides, there's also the market value of the coin itself to consider, and most coins out there have a rather volatile market.
Besides, there's also the market value of the coin itself to consider, and most coins out there have a rather volatile market.
If they know how staking works, then ofcourse, especially if the platform they are engaging into has the reputation to be trusted in this industry. Problem most of the time are people choosing to stake but are not okay with holding their asset for a period of time. Also with staking, if you chose the wrong project and tokens wouldn't be pull out, expect for a loss. Downside of staking is not being able to pdecide for your holdings during that period. You'd be seeing how its market value is falling and you have no other choice but to endure it. So if you are planning to stake make sure you still have the power to move out instantly.
According to my experience is that if anyone Stake there crypto so be careful check project roadmap etc because some time anyone stake there crypto so the project started in down but they can't release there crypto because its stake so be carefully check!!
Choose a great project must you got profit on the basis of your stake amount..
Staking tokens from a project that is new and isn't trusted by the community yet is definitely risking your money because the profit that you can get from staking is the commission that you earn on the amount you've staked over the period you've chosen, and if a token that you are staking loses its value significantly, your stakes and the commissions you'll get will almost be worthless and that will only waste your time and resources if you keep holding.Choose a great project must you got profit on the basis of your stake amount..
That is the reason that even though I don't recommend staking, I believe people should only use coins and tokens that are already trusted by the community even if the commission percentage is relatively low but the risk is also lower, this way, one won't lose any money at all.
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?
They offer a 17.66% annual return. It was big enough to consider but I'm not sure how reliable it was because based on my experience the usual offer won't go far above 5%.
your mindset is wrong, if you hold and the price of crypto goes down your asset estimate also goes down and you don't get anything. but if you stake and the price of crypto goes down your asset estimate also goes down but you will get compensation from the stake, and the compensation you receive keeps the asset estimate from dropping too far.
why people don't buy crypto and stake ? sometimes people prefer trading than staking.
"If"why people don't buy crypto and stake ? sometimes people prefer trading than staking.
In short staking isn't always mean you will get profit, so it's really wrong to say staking is a passive income.
Not all people can trade, actually 90% of traders are lose especially if they're beginners. Just choose a coin that has a maximum supply and decentralized, hold it on your non custodial wallet. Since such coin can't be staked, the price will increase if the demand is high.
Staking is also risky . If you wanna stake on these centralised exchanger then you may have to very careful to choose the token. On the other hand if you wanna invest or I mean stake on any centralised changer then I think you also have to prepare to face any kind of losses. Like already a incident happened that is ftx exchanger. In this case you may have good apr but risk is high. But you can take it try on good reported platform. But always keep in mind that they are will be high risk so stake as much as you can effort to lose.
hero member
Activity: 658
Merit: 524
Leading Crypto Sports Betting & Casino Platform
Would You Advise People To Stake?
Why don't people just buy Cryptos that they can stake?
Why don't people just buy Cryptos that they can stake?
Yes, but beware of the risk. Storing your tokens or coins on a centralised exchange is not usually a wise decision because you can't tell if the CEX can have any issues at any time, which can result in you losing your coins. If the exchange gets hacked, it might affect your coins. If there is a hack on your account, your funds will be stolen.
When you invest in Altcoins that allow you to stake their coin, there's also a possibility that the project might not even make it to success, and it will just be a waste of time for your long staking period.
Everybody would not buy staking coins or might not want to stake their coin because they are just waiting for a slight pump on the token price so they can sell off and earn some profit. Another reason could be that they don't want to risk their lives.
According to my experience is that if anyone Stake there crypto so be careful check project roadmap etc because some time anyone stake there crypto so the project started in down but they can't release there crypto because its stake so be carefully check!!
Choose a great project must you got profit on the basis of your stake amount..
Choose a great project must you got profit on the basis of your stake amount..
your mindset is wrong, if you hold and the price of crypto goes down your asset estimate also goes down and you don't get anything. but if you stake and the price of crypto goes down your asset estimate also goes down but you will get compensation from the stake, and the compensation you receive keeps the asset estimate from dropping too far.
why people don't buy crypto and stake ? sometimes people prefer trading than staking.
"If"why people don't buy crypto and stake ? sometimes people prefer trading than staking.
In short staking isn't always mean you will get profit, so it's really wrong to say staking is a passive income.
Not all people can trade, actually 90% of traders are lose especially if they're beginners. Just choose a coin that has a maximum supply and decentralized, hold it on your non custodial wallet. Since such coin can't be staked, the price will increase if the demand is high.
your mindset is wrong, if you hold and the price of crypto goes down your asset estimate also goes down and you don't get anything. but if you stake and the price of crypto goes down your asset estimate also goes down but you will get compensation from the stake, and the compensation you receive keeps the asset estimate from dropping too far.
why people don't buy crypto and stake ? sometimes people prefer trading than staking.
well what if the reason for the value plummeting was the increase of the total supply through staking in the first place? imagine the unlocked supply will be 2 times current circulating supply and at the end of the staking period the price plummeted to half of its initial value just because many have anticipated the addition towards the circulating supply that'd be ironic since considering the fact that the staking will be kind of pointless.why people don't buy crypto and stake ? sometimes people prefer trading than staking.
when staking I think it will be better if we more focused towards the value instead of how much token we are holding because honestly thats pointless.
but then again thats just my take on staking in general, sometime staking could still retain the token value meanwhile having additional token as a rewards.
your mindset is wrong, if you hold and the price of crypto goes down your asset estimate also goes down and you don't get anything. but if you stake and the price of crypto goes down your asset estimate also goes down but you will get compensation from the stake, and the compensation you receive keeps the asset estimate from dropping too far.
why people don't buy crypto and stake ? sometimes people prefer trading than staking.
why people don't buy crypto and stake ? sometimes people prefer trading than staking.
Stake if you have the best chance and percentage that favours you otherwise you are just gambling with your funds and this is something that must be checked, staking can earn you a perceived income but then also staking without the ownership and control of the assets means you are at risk of losing all the assets.
But recently, there has been some development that points to the fact that one can now stake directly from your own custodial wallet where you have access to the private key to the wallet where the assets are staked.
But recently, there has been some development that points to the fact that one can now stake directly from your own custodial wallet where you have access to the private key to the wallet where the assets are staked.
We usually got fall into huge offers that encourage us to stake and deposit to their platform, and later on, we get nothing and even lose our funds.
Although staking is not a bad idea but must also know the risk that corresponds to that and sadly, many people neglect to see it as a reason why many people had to lose their money.
Of course, I won't stop someone from staking but yeah, they also consider the platform or site that they use, and the last one is that only use a small amount to avoid big losses.
That is what is called a risk when you want to collect funds on a platform, so you have to be careful and prepared when they are scammed and you will lose all the assets that you have deposited. Currently, it is difficult to make a profit in cryptocurrency, and many smart people take advantage of cryptocurrency loopholes to create good sites that end up being scams. The advice to consider before moving on is very appropriate. Although staking is not a bad idea but must also know the risk that corresponds to that and sadly, many people neglect to see it as a reason why many people had to lose their money.
Of course, I won't stop someone from staking but yeah, they also consider the platform or site that they use, and the last one is that only use a small amount to avoid big losses.
~Snipped
Why don't people just buy Cryptos that they can stake?
Why don't people just buy Cryptos that they can stake?
The concept of token has a number of benefits and drawbacks but for the purpose of your question, I would only list some of the drawbacks that I am aware of:
- Lock period: Staking locks your tokens for a period of time which means they're illiquid at that time and you can't use them for anything else. While this is just like holding tokens, the problem lies in the fact that in most projects, there's an unstaking period anywhere between 1-4 days. In that time, you will most likely earn zero rewards and tokens remain illiquid for that period. So in cases where you want to readily sell (if there's a bad PR for the token in question) you can't immediately sell.
- Supply increase and dilution: These staking rewards adds to the total supply and results in dilution of those rewards (in most cases, the token loses value).
Perhaps it was their decision, however, if they would do research and make clear what awaits them from staking, they will decide what to do next whether to ignore or accept the offer. Because base on my experience, staking won't really give us a huge return but of course, it was better than just holding and waiting. However, when talking about the risk and the possibility of losing our money is huge as we can't assure of getting our money back to whatever happen to the exchange we use. If we can take the risk, then that was your choice at least, they know and are aware of the things that possibly happen.
Jump to: