Make Sure to Stake your Tokens or You'll Miss Out on Great Passive Income

[Psilocybin9]

I have been hodling my tokens for quite some time like a diamond hand, but unfortunately I never really got into staking until recently. The APYs of staking your cryptocurrency are insanely high considering the relatively (relative to crypto market) low risk it involves, and if you are someone who likes to hodl their tokens anyways then there is almost no risk in it for you.

Before you can start staking it's important to know that there are a lot of different types of staking protocols in this space. Many staking protocols have a lock up period, some have no lock up periods, and a few like pStake provide liquid staking opportunities.

 - A staking DApp with a lock up period means that after you stake your tokens on it you will not be able to unstake them for a certain time period

 - A staking DApp with no lock up period means that you will allowed to unstake your tokens anytime after you stake them

 - A staking DApp that provides liquid staking is one where you can stake your tokens to take advantage of the great APYs on staking protocols, and still be able to utilize your tokens on other DApps in DeFi.

[Yogee]

I have been hodling my tokens for quite some time like a diamond hand, but unfortunately I never really got into staking until recently. The APYs of staking your cryptocurrency are insanely high considering the relatively (relative to crypto market) low risk it involves, and if you are someone who likes to hodl their tokens anyways then there is almost no risk in it for you.

You haven't heard of rug pulls or hacks or flash loan attacks? You are staking your tokens on third party platforms that you do not completely control or verify and check their codes on your own. You could rely on third party audits but that doesn't guarantee safety. Those risks are very high compared to just you holding it steady in your non-custodial wallet.

- A staking DApp that provides liquid staking is one where you can stake your tokens to take advantage of the great APYs on staking protocols, and still be able to utilize your tokens on other DApps in DeFi.

You must have posted this to promote that platform. I don't know if that kind of model is sustainable. It sounds like a cheat and open to a lot of attacks.

[Fatunad]

Passive income is possible but with staking then we know that rewards arent really that great specially if there are lots who had been trying to diving on the pool which do really end up on having longer roi or something not really worth on the risk that you had put up thats why i dont really like to deal
with this but if this one involves wallet staking which you do have the full control of your funds then its considerable but if not  then
risk isnt worth.

[livingfree]

If the token you hold seems to be good then you don't have to worry about staking it. But this is a legit concern:

You haven't heard of rug pulls or hacks or flash loan attacks?

@OP there really are tokens that are good to stake that can provide you decent passive income but not all of the tokens in the market are good as they are.

[24Kt]

If the token you hold seems to be good then you don't have to worry about staking it. But this is a legit concern:

You haven't heard of rug pulls or hacks or flash loan attacks?

@OP there really are tokens that are good to stake that can provide you decent passive income but not all of the tokens in the market are good as they are.

A lot of times, these tokens steadily decline their value so even if you are getting good number of coins in staking, still the value is not that much in your portfolio. You will be fortunate if the coin you are staking is going up its price. But as we all know, only few alts can have that kind of performance in the market. So better research and assess your coin you want to stake. Better look for projects with active use case and with seemingly long-term mission. Because most projects are just here for quick gains.

[magneto]

Well, not necessarily.

Yes, you'd be stupid to not stake your tokens. But it shouldn't be considered passive income by any means.

Your staking rewards comes directly from an inflated supply of the tokens you hold, which ultimately means that you're just keeping your share of the network relatively equal. If you don't stake, you are essentially losing share of the network. Only things like liquidity farming etc. can be truly considered passive income.

[pjwaffle]

I have been hodling my tokens for quite some time like a diamond hand, but unfortunately I never really got into staking until recently. The APYs of staking your cryptocurrency are insanely high considering the relatively (relative to crypto market) low risk it involves, and if you are someone who likes to hodl their tokens anyways then there is almost no risk in it for you.

Before you can start staking it's important to know that there are a lot of different types of staking protocols in this space. Many staking protocols have a lock up period, some have no lock up periods, and a few like pStake provide liquid staking opportunities.

 - A staking DApp with a lock up period means that after you stake your tokens on it you will not be able to unstake them for a certain time period

 - A staking DApp with no lock up period means that you will allowed to unstake your tokens anytime after you stake them

 - A staking DApp that provides liquid staking is one where you can stake your tokens to take advantage of the great APYs on staking protocols, and still be able to utilize your tokens on other DApps in DeFi.

You didn't bet the coins to get the maximum return on your investment, i think you're stupid because that would give you substantial profits and you didn't do it so your profits are not the best , there are now many different types of investments and forms of buying tokens then staking and taking profits from the increased supply that your tokens are participating in It is very popular and by many people, so I think you should learn more about new ways to make the most profit.

[letyouearn]

If I look for a good staking for my holdings I focus more on its safety and reputation. There many cases when such projects and platforms are being hacked or even scam people (probably they can make this hacking by themselves, lol).

[btc_angela]

The APR for this tokens is getting smaller and smaller, so for me it's either to invest in on bitcoin and really do some trades to make some passive income. Of course, trading takes a lot of time so others might argue that it shouldn't be considered as passive income.

However, at least you have total control of everything.

What if the projects gets hack? And then lose so much value?

So there is still pros/cons in the whole staking industry. But I would rather play it safe, just saying.

[harizen]

As far as our own DYOR tells us that it's worth staking a certain coin, then just do it and hope for the best in the future. But remember not to expect too much that by staking, it will yield a great passive income. Always look at staking terms and be aware of those so you won't be surprised by a sudden change.

Follow their community as much as possible and always interact with people there. Try to be updated as always.

[Azar138]

The APYs of staking your cryptocurrency are insanely high considering the relatively (relative to crypto market) low risk it involves, and if you are someone who likes to hodl their tokens anyways then there is almost no risk in it for you.

I can't say that there is no risk. If you hold on your cold wallet, it is much safer than staking. Everything depends on the platform where you work. If this project has a good reputation and many audits, it is almost secure to invest in it, but don't chase too high APYs, as they always involve big risks. One more risk that you face is that the price fluctuate and your APYs are not stable.

[livingfree]

If the token you hold seems to be good then you don't have to worry about staking it. But this is a legit concern:

You haven't heard of rug pulls or hacks or flash loan attacks?

@OP there really are tokens that are good to stake that can provide you decent passive income but not all of the tokens in the market are good as they are.

A lot of times, these tokens steadily decline their value so even if you are getting good number of coins in staking, still the value is not that much in your portfolio. You will be fortunate if the coin you are staking is going up its price. But as we all know, only few alts can have that kind of performance in the market. So better research and assess your coin you want to stake. Better look for projects with active use case and with seemingly long-term mission. Because most projects are just here for quick gains.

Yes.

The quantity won't do that much if there's not that much value on it. I wouldn't spend my money and time on it if they're just ugly coins in the market.

It's better to have a few in numbers but you're holding a strong and reputable coin as you stake.

[masterrex]

I have been hodling my tokens for quite some time like a diamond hand, but unfortunately I never really got into staking until recently. The APYs of staking your cryptocurrency are insanely high considering the relatively (relative to crypto market) low risk it involves, and if you are someone who likes to hodl their tokens anyways then there is almost no risk in it for you.

Before you can start staking it's important to know that there are a lot of different types of staking protocols in this space. Many staking protocols have a lock up period, some have no lock up periods, and a few like pStake provide liquid staking opportunities.

 - A staking DApp with a lock up period means that after you stake your tokens on it you will not be able to unstake them for a certain time period

 - A staking DApp with no lock up period means that you will allowed to unstake your tokens anytime after you stake them

 - A staking DApp that provides liquid staking is one where you can stake your tokens to take advantage of the great APYs on staking protocols, and still be able to utilize your tokens on other DApps in DeFi.

I think that most cryptocurrency enthusiasts are not happy with that so-called passive income offered by staking because it was too low because it was based on (APY) even me, Im not satisfied with it that's why I withdraw mine and sold it and use the proceeds to accumulate other cryptocurrencies that I believe it will give more returns than just staking and it is true lately, But I agree that holding crypto by speculation is risky compared to staking but it doesn't mean it happens all the time so let it happen when it happens, and in terms of glitches I believe it is just an isolated incident and doesn't directly affect most of the platforms that offered staking services.

[khiholangkang]

I think that most cryptocurrency enthusiasts are not happy with that so-called passive income offered by staking because it was too low because it was based on (APY) even me, Im not satisfied with it that's why I withdraw mine and sold it and use the proceeds to accumulate other cryptocurrencies that I believe it will give more returns than just staking and it is true lately, But I agree that holding crypto by speculation is risky compared to staking but it doesn't mean it happens all the time so let it happen when it happens, and in terms of glitches I believe it is just an isolated incident and doesn't directly affect most of the platforms that offered staking services.

APY staking is still much better than bank interest, lol
Speaking of staking, not only do we benefit from APY and the rising price of the coins we stake, but currently there are many projects that provide airdrops to stakers. So we benefit a lot from staking.

[IIrik11]

Stop being greedy.

Keep your coins in your wallet.

Have a nice day!

[uneng]

Passive income is great and should be aimed by everyone who wants their financial freedom, however we must be careful where we seek for this income, because most cryptocurrencies you stake are going to lose value on long run, leading the investor to a negative passive income, that is exactly the opposite of what someone expects when investing.

So even though you are going to have more coins than you firstly had due to the staking feature, their decreasing value will keep you in loss anyway. And I suspect developers of these coins use the profits they make through pumping and dumping schemes to invest their money in strong currencies, which don't necessarily offer staking feature (mainly bitcoin).