Pooled staking. Is it any good?

[Abiky]

Do you think that staking pools have any future? Are they any good? Last time, I've heard most of them are scam since they leave at will without returning your hard-earned crypto.

As far as I know, only StakeNet's staking pool seems to be a viable option now. However, I look forward to an Ethereum staking pool named Rocket Pool, that will become highly usable once ETH switches to PoS.

Nonetheless, what do you think about this? Any good legit staking service that you would like to recommend, would be highly appreciated.

[1714890027]

1714890027

[olohifie]

Do you think that staking pools have any future? Are they any good? Last time, I've heard most of them are scam since they leave at will without returning your hard-earned crypto.

As far as I know, only StakeNet's staking pool seems to be a viable option now. However, I look forward to an Ethereum staking pool named Rocket Pool, that will become highly usable once ETH switches to PoS.

Nonetheless, what do you think about this? Any good legit staking service that you would like to recommend, would be highly appreciated.

I would recommend Stake united as a pretty good one. It has a vast number of altcoins and a user friendly interface. Also it has built an amazing blockchain community of over 20000 members within a short period of time. Every reward you get is deposited immediate into your wallet on the platform. Its pretty nice

[feryjhie]

Do you think that staking pools have any future? Are they any good? Last time, I've heard most of them are scam since they leave at will without returning your hard-earned crypto.

As far as I know, only StakeNet's staking pool seems to be a viable option now. However, I look forward to an Ethereum staking pool named Rocket Pool, that will become highly usable once ETH switches to PoS.

Nonetheless, what do you think about this? Any good legit staking service that you would like to recommend, would be highly appreciated.

for me, the staking pools still good as long the staking pools is not a scam.
the trusted staking pool maybe cobo wallet, in cobo wallet it just not a wallet that accepts many coins in it but it contains a staking pool.
you can visit their website here https://cobo.com/

[Psynthax]

Do you think that staking pools have any future? Are they any good? Last time, I've heard most of them are scam since they leave at will without returning your hard-earned crypto.

As far as I know, only StakeNet's staking pool seems to be a viable option now. However, I look forward to an Ethereum staking pool named Rocket Pool, that will become highly usable once ETH switches to PoS.

Nonetheless, what do you think about this? Any good legit staking service that you would like to recommend, would be highly appreciated.

for me, the staking pools still good as long the staking pools is not a scam.
the trusted staking pool maybe cobo wallet, in cobo wallet it just not a wallet that accepts many coins in it but it contains a staking pool.
you can visit their website here https://cobo.com/

But ethereum is not listed yet on COBO. I know that's created by co founded of F2pool and that can be trusted. I just try that and it looks like all were going very smooth. COBO is a wallet service that makes you easy to get your reward without doing a complicated setup like when you do that manually.

[fosco333]

Do you think that staking pools have any future? Are they any good? Last time, I've heard most of them are scam since they leave at will without returning your hard-earned crypto.

As far as I know, only StakeNet's staking pool seems to be a viable option now. However, I look forward to an Ethereum staking pool named Rocket Pool, that will become highly usable once ETH switches to PoS.

Nonetheless, what do you think about this? Any good legit staking service that you would like to recommend, would be highly appreciated.

I have my coin staked on the staking pool, https://simplepospool.com/ is the website i used.
So far this is going good, and i received my stake portion reward overtime.
In the stake pool, we need to trust our coin to them and i know it is not easy.
But it is an easy solution if you want to staking without using your pc 24 hour/day.

[feryjhie]

Do you think that staking pools have any future? Are they any good? Last time, I've heard most of them are scam since they leave at will without returning your hard-earned crypto.

As far as I know, only StakeNet's staking pool seems to be a viable option now. However, I look forward to an Ethereum staking pool named Rocket Pool, that will become highly usable once ETH switches to PoS.

Nonetheless, what do you think about this? Any good legit staking service that you would like to recommend, would be highly appreciated.

for me, the staking pools still good as long the staking pools is not a scam.
the trusted staking pool maybe cobo wallet, in cobo wallet it just not a wallet that accepts many coins in it but it contains a staking pool.
you can visit their website here https://cobo.com/

But ethereum is not listed yet on COBO. I know that's created by co founded of F2pool and that can be trusted. I just try that and it looks like all were going very smooth. COBO is a wallet service that makes you easy to get your reward without doing a complicated setup like when you do that manually.

As i know they already support ethereum for the cobo wallet and if you want to make sure again maybe you can install the cobo wallet.
In cobo wallet you can earn CC and exchange it to bitcoin or other cryptocurrency that cobo wallet support

[kindbtc]

We still do not know when exactly Eth is switching to pos but one thing is for sure that thousands of investors are ready to participate and earn from eth pos, eth value will also boom once the switch happens due to massive demand, also i do not think there is real transparent pooled platform to earn from pos of major coins so i think there is still a big market for such a platform.

[Abiky]

But ethereum is not listed yet on COBO. I know that's created by co founded of F2pool and that can be trusted. I just try that and it looks like all were going very smooth. COBO is a wallet service that makes you easy to get your reward without doing a complicated setup like when you do that manually.

Pooled staking certainly brings convenience for people who can't afford leaving the wallet staking 24/7. However, one needs to be precautious in this area as there are scammers looking to take advantage of your hard-earned money. This new service called COBO, seems promising though. It may not have Ethereum yet (probably because ETH hasn't switched to PoS), but it has other options that are worth looking into (like TRX and EOS). Whenever this service will last for a long time, is yet to be seen.

What I look forward to, is a decentralized pooled staking service where it relies on smart contracts. Speaking of this, there's a new pool that's yet to be released named "Pool of Stake". It'll be a trust-less, decentralized, cloud staking service that relies on smart contracts as its base of operations. There's another platform called "StakeNet" which also allows users to stake in the cloud without leaving the wallet open. This feature is called TPoS (Trustless Proof of Stake) and seems to be the "killer app" of the XSN cryptocurrency.

Nonetheless, the more staking pools there are, the better, as it encourages people to switch from most PoW coins into PoS without the hassle of setting up wallets every time.

[Adriano2010]

I think they not have a future because people who lose money on preffer now to stake on own wallet, and some people will stake on laptop to not pay so much on electricity.

[feryjhie]

I think they not have a future because people who lose money on preffer now to stake on own wallet, and some people will stake on laptop to not pay so much on electricity.

But if you stake a coin on a laptop so that mean the laptop need to online 24 hours for a maximum result. And if you join a trusted pool, all you need just send your coin to pool and wait for your rewards

[qazgroup]

Before participating in any pooled staking program just analyse the market and see what happened to pooled mining programs then also check what happened to pooled ico investment programs i mean all these pooled investment programs are nothing but greedy investments where the ultimate winner is the pool or website owner because he is playing with others money and has nothing to loose. So i will suggest to be careful with these programs.

[Mrcharles]

Staking is another avenue for making lucrative income in the market. I was made to understand that one may need to set up a masternood to be able to stake some cryptocurrency. Staking is best when the value of the tokens is on the lower trend to attract more people.

[chenille]

I've heard about it and pooled staking can be a big business maybe later.
Speaking for me personally, I don't want to participate there right now because in a pooled staking you have to put the funds to a third party and aren't anymore owner of the coins. That can be critical if the sites gets hacked or if it's a scamsite.
Stakeunited was a big platform and it was closed. Some people couldn't withdraw their funds: https://www.reddit.com/r/StakeUnited/comments/adjs4v/what_happened_to_stakeunited/

[Abiky]

I've heard about it and pooled staking can be a big business maybe later.
Speaking for me personally, I don't want to participate there right now because in a pooled staking you have to put the funds to a third party and aren't anymore owner of the coins. That can be critical if the sites gets hacked or if it's a scamsite.
Stakeunited was a big platform and it was closed. Some people couldn't withdraw their funds: https://www.reddit.com/r/StakeUnited/comments/adjs4v/what_happened_to_stakeunited/

It's sucks to have your coins stolen after spending hard time and effort acquiring them. That's the problem when we depend on third parties to stake our coins for us. What's needed is a decentralized cloud staking platform, which takes control of user's balances via a smart contract. Another way around this, would be to devise a staking algorithm which is "trust-less" by design, allowing anyone to stake without lending their coins to the middleman. So far, there are 2 cryptocurrencies which meet such criteria. One of them is NEM (XEM) and the other is StakeNet (XSN).

StakeNet allows you to "lend" your coins to a third party without exposing your private key for added security. NEM works virtually the same way, where you "delegate" your coins to a remote node on the network without exposing your private key. There's a new project by the way, which I'm looking forward to being called Pool of Stake which aims to be a decentralized cloud staking platform for users. Still it's not released yet, which leaves us with very limited options to choose from.

Nonetheless, in the case pooled staking is no longer viable, one could easily set up a VPS with the full node of a PoS coin of our choice. Just my opinion

[Nalbo]

Do you think that staking pools have any future? Are they any good? Last time, I've heard most of them are scam since they leave at will without returning your hard-earned crypto.

As far as I know, only StakeNet's staking pool seems to be a viable option now. However, I look forward to an Ethereum staking pool named Rocket Pool, that will become highly usable once ETH switches to PoS.

Nonetheless, what do you think about this? Any good legit staking service that you would like to recommend, would be highly appreciated.

There are many things to consider while putting your money in these pools. The first one is it's trust. Many of the so called pools offer unrealistic rewards and run away with your money. So, it we need to make sure they are legit enough to trust our money.
Nexo is a popular finance company to have some interest on your coins.

[Mighty_crypt]

I know nothing about pool staking as I haven't try it out to gain its experience but I can assure you that if ethereum implement POS it will make a lot of sense because that's simply another use case for ethereum,this will bring lesser dumps to the coin ,I as a person will start holding ethereum coins just for the POS returns

[Abiky]

There are many things to consider while putting your money in these pools. The first one is it's trust. Many of the so called pools offer unrealistic rewards and run away with your money. So, it we need to make sure they are legit enough to trust our money.
Nexo is a popular finance company to have some interest on your coins.

Yes. Trust is the real issue here, especially when you allow third parties to handle the private keys for you. Since many staking pools are centralized, they have that single point of failure inherent within them. The only workaround would be to stake cryptocurrencies which don’t always require you to leave your wallet open (like NEM, and DPoS cryptocurrencies like STEEM and EOS). Other than that, staking in the cloud would be just a mere dream (unless decentralized staking pools become practical for the mainstream world).

As for Nexo, it offers good rates for your stablecoins. While this is not staking, it's similar as you earn money over time like a bank savings account. Considering that Nexo is regulatory-compliant, it seems to be the safest route right now to grow your stack of cryptocurrencies over time.

Nonetheless, I believe that more decentralized staking solutions are needed in order to help drive most people out of PoW (due to its energy consumption). Until then, we're off with only two decentralized staking platforms which are RocketPool and Pool of Stake.

[Wintersoldier]

We still do not know when exactly Eth is switching to pos but one thing is for sure that thousands of investors are ready to participate and earn from eth pos, eth value will also boom once the switch happens due to massive demand, also i do not think there is real transparent pooled platform to earn from pos of major coins so i think there is still a big market for such a platform.

With the huge market volume supporters of ETH, there's no doubt that there will going to be a good staking activity that will happen. But as I can see, though eth is not yet switching to pos, is there any implication that proof of stake is needed other than POW? do they need to change to pos first?

[Abiky]

With the huge market volume supporters of ETH, there's no doubt that there will going to be a good staking activity that will happen. But as I can see, though eth is not yet switching to pos, is there any implication that proof of stake is needed other than POW? do they need to change to pos first?

ETH would need to change to PoS first, in order for staking pools to become a reality. While there's already a staking pool in the works (named Rocket Pool), it's not functional yet as Ethereum is still a PoW cryptocurrency. However, knowing this allows us to gain an advantage before PoS becomes a reality within the Ethereum blockchain. One could easily invest into ETH while it's still a PoW cryptocurrency, to stake it later on a staking pool like Rocket Pool.

As for other cryptocurrencies, the only safest bet would be StakeNet's Trustless Proof of Stake algorithm. This provides the same benefits as staking pools, but without the added risk of exposing your private keys to a third party. Given how many phony staking pools there had been lately, people are looking for alternative solutions which are decentralized.

So far, we've got XSN's TPoS algorithm for trustless staking and ETH's decentralized staking pool. Additionally, we have the option of staking some cryptocurrencies in a VPS by using multi-signature addresses for additional security (see Multi-signature staking on Google).

Nonetheless, I believe that the only staking pools that are good right now are those which are decentralized. Other than that, it would be a waste of time and money. Just my opinion