Staking CRO - Crypto.com app vs defi wallet?

[JamesDaniel90]

Hi all,

I have just over 5000 CRO and up till now this has just been from me buying CRO and using the Ruby steel card for 2% cashback but I am now thinking of staking as I have reached a decent amount.

I read that I can get a lot more staking rewards when done through the Defi wallet but just wondering if this comes with risks or if it is worth doing?

[JamesDaniel90]

Anyone ? Not many CRO holders here?

[vv181]

I read that I can get a lot more staking rewards when done through the Defi wallet but just wondering if this comes with risks or if it is worth doing?

Putting your funds on crypto.com has its own risks(https://crypto.com/document/mco_services), and so does on your own at not-so-Decentralised Finance.

Managing your own fund surely may give you a better return since they didn't cut out any profitability percentage of any investment or staking or lending, but it opened up the risk with your undue diligence in securing your wallet/account, security of the staking/lending platform itself, and your own strategy to manage the funds.

You can take a look at one of many of the risks here: DeFi hacks [history]

[cryptoaddictchie]

I read that I can get a lot more staking rewards when done through the Defi wallet but just wondering if this comes with risks or if it is worth doing?

Yes it is. Staking design to have mroe rewards while using their platform or holding your tokens with them. Of course there is risk. If you trust the project then youll nothing to worry about. But like vv181 said, you must be aware of the terms and if its good for you then go for it.

There is no such thing as risk free investment so I think this is fine. Even legit one cant guaranteed anything. Everything aside from bitcoin is at risk. Of course there is no staking on btc so you wont earn additional coin/share from it only relies on its value.