Topic: Would You Advise People To Stake? - page 4. (Read 588 times)
In my personal view, the true altseason is likely to occur after the halving event and when Bitcoin surpasses its all-time high, which is expected to happen sometime after May 2024. Considering this projection, it appears reasonable to consider staking within the next year, as the coins will be securely held in a wallet and offer an attractive 17% return during this relatively safe period
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.
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.
You have it covered and you can stake on centralized platforms if you are fine with the risks that comes with it. What I would say is not to throw all or a significant amount of your money to these staking wallets. Diversify and keep most of your funds to wallets that you completely control.
i like the idea of diversifying staking just like diversifying investments, staking in various platform maybe could easily mitigate the risk involved with staking in general which is losing money because the staking failure.it just seems makes more sense from my point of view. but then again only diversify staking in trusted platform like binance or the likes.
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?
First of all that's not real staking, exchanges are just calling that staking. Staking is you can do without depositing your coins to any CEX. Real staking is participating to secure the chain and you can do it in your own computer without moving your coins/tokens.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?
Not all people want to "stake" in exchanges because they don't trust CEXes. There are different methods to stake but in most cases you don't need a lot of know how to do it by yourself. Also some people prefer PoW over PoS so they dislike coins that use staking.
In my personal opinion, staking is worth it if you're capable of finding the right coins and vaults to invest in and, more importantly, if you only deal with decentralized platforms, such as Beefy or Supra Finance, which usually offer greater APYs than centralized exchanges, and without a lock-in period, you're free to withdraw whenever you please.
Mostly people staked their tokens according to the project, because the staking option is not that much risky as we can say. Another thing with the staking option, they can gain much profit but for long term and another thing, if there is a flop in the price then there will also be a loss.
Cosmos (atom) is the highly APR even you can deposit any amount because there has no minimum limit of deposit. Also there are many other good coins which are trustworthy and you can stake enough money if you want. Moreover, their rewards are comparatively good which will satisfy the investor.
~
Is there any drawback I'm missing?
Why don't people just buy Cryptos that they can stake?
Why go with Coinbase when they already have their own platform where you can stake your ATOM there.Is there any drawback I'm missing?
Why don't people just buy Cryptos that they can stake?
I'm also staking some ATOM tokens in their own wallet called KEPLR. Currently, I'm on the node of Binance which gives 19.12% annually. I might un-stake it, and find another node since Binance node doesn't support airdrops from Cosmos. There is this feature of the project where those who are staking their ATOM tokens has the opportunity to get some free tokens thru airdrops.
Why they don't just buy cryptos that they can stake? I don't know the exact reason TBH, but maybe it's because they didn't do any research in any of these staking coins, and they with other projects. Most of the top 20 coins right now base on market cap offers staking, so TBH I don't know the main reason.
Quote
Re: Would You Advise People To Stake?
I would call myself a hypocrite if I will say no to it since I myself is also doing it.The problems that I'm seeing with these staking coins is that, there is a chance that you might get an impermanent loss while staking it, and the amount of coins that you are getting for free isn't enough to cover your losses, and the other one is when the project turns out to be a scam project. I would advice to do it, but just be ready for the risks of staking.
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.
(....)
I agree with trusting your funds to huge platforms, and Coinbase for me is a good centralized platform. And I believe it is applicable in all aspects, even if you are using their exchange for trading, etc. Always trust huge platforms with got real volume and real users.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.
(....)
Being cryptocurrency is volatile with ups and downs. Some high APY/APR on staking are these cryptocurrencies are most volatile, so sometimes instead you are earning profits on staking, you are losing the value of your coin because the price is dropping.
^ I respect your opinion because each of us has different preferences regarding staking.
Staking itself is not a scam, but caution is warranted when considering which projects to stake in. ETH has a strong reputation, but it is important to conduct due diligence for any investment, including cryptocurrencies. Diversification and risk management should be part of an individual's investment strategy and it is true that not all altcoins or cryptocurrencies are created equal. Some projects may lack substance, and transparency, or have questionable intentions, making them risky investments. It is very important for us as an investor to exercise caution and conduct thorough research before staking our funds in any project that you can entrust to hold your asset for a long period of time.
That's true, this is why we have to choose the best platform because the purpose of staking is to make some profit passively and not to be stressed with a shit wallet where you do the staking, even the top exchanges can be risky too so choose wisely. Staking is fine if you are still not capable of trading or investing on your own, this could be good for beginners who are taking their time to learn more about the market and still make some profit at the same time, staking is good fundamentally. Staking itself is not a scam, but caution is warranted when considering which projects to stake in. ETH has a strong reputation, but it is important to conduct due diligence for any investment, including cryptocurrencies. Diversification and risk management should be part of an individual's investment strategy and it is true that not all altcoins or cryptocurrencies are created equal. Some projects may lack substance, and transparency, or have questionable intentions, making them risky investments. It is very important for us as an investor to exercise caution and conduct thorough research before staking our funds in any project that you can entrust to hold your asset for a long period of time.
~snip~
No staking is mostly a scam. I always advise against staking alts except for ETH because ETH is probably one of the best alts out there so staking it would be good for you financially.
The other alts are however simply scams so you are only wasting your time and money when you are staking them.
Why do that? Just buy bitcoin and hold. It worked before, it will work tomorrow.
Staking itself is not a scam, but caution is warranted when considering which projects to stake in. ETH has a strong reputation, but it is important to conduct due diligence for any investment, including cryptocurrencies. Diversification and risk management should be part of an individual's investment strategy and it is true that not all altcoins or cryptocurrencies are created equal. Some projects may lack substance, and transparency, or have questionable intentions, making them risky investments. It is very important for us as an investor to exercise caution and conduct thorough research before staking our funds in any project that you can entrust to hold your asset for a long period of time.
You have it covered and you can stake on centralized platforms if you are fine with the risks that comes with it. What I would say is not to throw all or a significant amount of your money to these staking wallets. Diversify and keep most of your funds to wallets that you completely control.
i like the idea of diversifying staking just like diversifying investments, staking in various platform maybe could easily mitigate the risk involved with staking in general which is losing money because the staking failure.it just seems makes more sense from my point of view. but then again only diversify staking in trusted platform like binance or the likes.
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?
People are scared of staking because they feel staking are not productive because there has been false accusations that stake coins give low return because when they get unstaked that they get dump.by whales to manipulate the price and bring the price down so those that staked their coins won't get much profits. Staking has been one of the most profitable ways of investing .
Because when you stakes you're reducing the coins in circulation and giving the project more opportunities to give good return to their earlier investors. I'll always advise people to stake as it gives investor more opportunity to hold their tokens instead of if selling and this make room for future investors to profit instead of regretting of selling their investment very early.
Staking makes you become a diamond holder as you receive reward for holding so you'll always be interested in staking but just holding or trading makes you put yourself at risk of no profit. Anybody's that what to make big profits from the cryptocurrency markets has to become a holder and a staker because, you don't lose when you stake instead you profit more profit.
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?
First of all that's not real staking, exchanges are just calling that staking. Staking is you can do without depositing your coins to any CEX. Real staking is participating to secure the chain and you can do it in your own computer without moving your coins/tokens.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?
Not all people want to "stake" in exchanges because they don't trust CEXes. There are different methods to stake but in most cases you don't need a lot of know how to do it by yourself. Also some people prefer PoW over PoS so they dislike coins that use staking.
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.
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?
No staking is mostly a scam. I always advise against staking alts except for ETH because ETH is probably one of the best alts out there so staking it would be good for you financially.
The other alts are however simply scams so you are only wasting your time and money when you are staking them.
Why do that? Just buy bitcoin and hold. It worked before, it will work tomorrow.
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.
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?
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.
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?
The last two investments i made into cryptos was Cosmos and NEAR. Both are coins that have native staking because like you i really like the idea of getting some nice extra rewards by just staking those coins because i plan to hold them for a long time anyway. One drawback is that for example Cosmos has an unlimited supply, which is obviously not a good thing for the price development of an asset but that is where those staking rewards are coming from. So if you are holding Cosmos then you should definitely stake them because otherwise you are diluting the value of your assets because the total supply is rising and therefore your share of the total supply automatically goes down.
Also you can stake Cosmos not only on Coinbase. You can also stake it on wallets like Atomic Wallet. There you are in control of the private key. When you stake on Coinbase then you are not in control of the private key. Don't forget that.
Stake service is good for long time investors but you should justify a best old coin where they have rewards programme for investors. You shouldn’t stake in exchange wallet so be careful. Even you can stake there own wallet if they have. Afterall if i am a beginner then definitely i will avoid stake because it more risk for newborn and short time investors.
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?
In my opinion, the main disadvantage of staking is that you give crypto currencies for safekeeping to others, and this disadvantage overrides all the possible advantages of this option. I am ready to lose my annual income of 17.66%, if only I had crypto currencies in my custody. Although the same, bitcoin, in the future of several years, will more than overtake this figure of 17.66%.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?
Another disadvantage you mentioned is the freezing of your money. If you urgently need your assets, then you will not be able to pick them up. This limits your financial mobility. Also, I don't like being restricted from using my own money. This looks absurd.
I can assume that people use staking services, using the example of a Coinbase, because of banal greed and a desire to get more money. The side effect of this is most often lost money. Not 17.66% received as annual income, but all 100% of the amount in the stake.
You have it covered and you can stake on centralized platforms if you are fine with the risks that comes with it. What I would say is not to throw all or a significant amount of your money to these staking wallets. Diversify and keep most of your funds to wallets that you completely control.
Stake where you have control of the keys. I believe that staking through exchanges is very risky. The staking percentage you mentioned for Cosmos is very enticing, but I also think it carries risks. When many people earn good coins through staking, some may sell at lower rates to secure their profits, which could lead to a drop in the coin's value. My advice is not to stake on any exchange, no matter how big it is. Having control is crucial, as we cannot trust anyone else. I believe staking stable currencies is a much better option as it reduces the risk of value loss significantly.
That's why I don't suggest to stake for a beginners because there's always a risk for this and even if the top exchanges have this option and their percentage is very attractive, I'll still not suggest it, better for them to hold good coins while they are still learning about the market. Know that staking might not be worth it if you have a small capital, and you are just wasting your time doing it. If you're into trading, learn its concept so you can trade effectively. With this, I suggest to think again before staking, if you still insist then do it on a wallet where you have the control, exchanges are too risky. Jump to: