Bitcoin Forum

Hello,

I want to do soft staking (with whatever crypto) in order to be able to generate an income obviously. However, I want to do it with a quality crypto (which is not likely to be devalued) and I'd like to be able to always have control over my tokens (that is to say that I do not want to let them hang out on an exchange or an app which could disappear etc). Another important point: I don't want to do KYC (I will be able to buy the crypto via a decentralized exchange platform no problem).

Do you have an idea? For example, is it possible to stake monero? If yes how? If not, any idea which other coin I should buy and stake safely?
By the way, have control over my tokens while staking is that what we call "soft staking" ??

Thanks in advance!
Evolvion

You can stake on your Ledger wallet if you own one. The coins aren't just random altcoins that you can stake but they're limited yet part of the top coins.

--> https://www.ledger.com/staking

There are already a lot of staking programs these days. Most of them are in Ethereum, Binance Smart Chain, Solana ecosystem, etc. The only thing your enemy for these are the transaction gas fee, especially in Ethereum, but other chains you can save more especially on Solana Ecosystem.

To be honest, there are a lot of cryptos out there that can be able to stake,
But I can give you some example;
On Solana Ecosystem, you can check out the Raydium, which there you can stake Raydium token itself or other token and earn Raydium tokens or some tokens based on staked you did.

Another thing is NERVE Finance, currently, they are on Binance smart chain, where you can stake also different stablecoins and earn Nerve tokens, and you can also stake some other tokens there from different pools.

You can check by yourself, there are a lot of them staking in decentralized networks.

Wallets that can be used to connect to decentralized exchanges for staking

Metamask and Trustwallet

Others wallets that I know are
Mathwallet
TokenPocket
WalletConnect
Binance Chain Wallet
Onto Wallet

A point to know, these are all online wallets connecting to decentralized exchanges for staking.

Oshosondy what do you mean by decentralized exchange staking? I don't know about other wallets but binance exchange owns trust wallet and that staking on their app moves your assets into another wallet for staking, that's not decentralized to me, it's complete centralised staking

The best decentralized exchanges existing are the ones that support bitcoin, if you check the exchanges that you can stake, you will notice that bitcoin is not supported, they are ethereum, binance and other coin exchanges that support their tokens. That is why the real decentralized exchanges that are still existing are bisq, hodl hodl and others similar ones. Those staking exchanges are just no kyc exchanges but they are not decentralized like people think.

The main point is: do not care about the return on investment, but rather the behavior of the currency in the long run. If its value continues to increase, you will be able to achieve a good return regardless of the percentage that you get from staking.
Also, do not invest in central coins such as BSC for long-term.

Some a promising stacking coin that may have a future is ADA.

I think the term "soft staking" is not related to coins system. It's used by kucoin exchange for coins which you don't need to freeze (can move the funds anytime).

You should first learn about the various staking systems (PoS, DPoS, masternode ...).

I like DPoS (delegated PoS) because of two main aspects.
1 - user don't need to keep the wallet open. Just delegate the votes, earn staking rewards (coins are kept in wallet) .
2 - there is usually no min. limit, or is very low ( e.g. trying to stake standard PoS coin with small amount might not generate any reward for couple months/years  )

My favorite staking coins at the moment are ADA and DOT as both are smart contract platforms like ETH ... I'm looking forward to ETH2
Others are TRON, KMD, ALGO


As of staking monero you can't stake it directly.
The only option is some third party to whom you stake (lend) your XMR, and they will most probably lend it further at higher rate.
e.g. binace gives you cca 1% (paid daily) annualy on your XMR