Should I stake my crypto?

[shasif]

Hi Guys

Would you mind to share your experience when staking crypto? I wonder to know how staking can generate more profit.

Been a week crypto market's down almost half of its value, Bitcoin itself has been down more than 10% since Sunday.

Do you have any thought of alternative crypto investment? Share your favourite staking platform like Coinbase or SnapBots below!

[mk4]

Staking can only be profitable if the coin you're staking doesn't end up come crashing down in the end. Let's say, with coin X you're earning 20% more coin X annually from staking. But if ends up crashing down by 50% in a year, then you'd end up in a loss anyway. It's pretty much only worth it if the coin you're staking stays decently stable for a long-period, or if it goes up.

Personally, I see most cryptocurrencies besides bitcoin as short-mid term trades, so staking is not for me. Though I'm personally not a fan of services such as Blockfi, but I'm more likely to lend BTC than to stake altcoins simply because I'm more confident for the long-term value of BTC.

[Kong Hey Pakboy]

If you think that it is worth staking then you should probably do it, just remember to do your own research with the coin that you are staking because you might end up staking on a coin that will be worthless by the time you decided to sell your coins.

[NeuroticFish]

Would you mind to share your experience when staking crypto? I wonder to know how staking can generate more profit.

Been a week crypto market's down almost half of its value, Bitcoin itself has been down more than 10% since Sunday.

Do you have any thought of alternative crypto investment? Share your favourite staking platform like Coinbase or SnapBots below!

Staking altcoins will earn you altcoins. But keep in mind that you may end up with the altcoins losing more value against bitcoin than what you earn by staking. So do that only if you find an altcoin you trust and want to invest into. I didn't find such investment profitable on long term with altcoins that allow staking.

There are websites where you deposit your bitcoins and you can earn some small amounts. But those amounts are very small. There are websites advertising they give big amounts too, but those are usually scam. And the problem is that you send your coins to 3rd party and - whether it's scam or not - it can easily happen that you lose all your coins (not your keys, not your coins). All in all the risk is big and the benefits are small.

At least for Bitcoin, over time, my experience has shown me that holding with patience can give nice returns. You have to just keep safe your coins/keys/seed.

[shasif]

Staking can only be profitable if the coin you're staking doesn't end up come crashing down in the end. Let's say, with coin X you're earning 20% more coin X annually from staking. But if ends up crashing down by 50% in a year, then you'd end up in a loss anyway. It's pretty much only worth it if the coin you're staking stays decently stable for a long-period, or if it goes up.

Personally, I see most cryptocurrencies besides bitcoin as short-mid term trades, so staking is not for me. Though I'm personally not a fan of services such as Blockfi, but I'm more likely to lend BTC than to stake altcoins simply because I'm more confident for the long-term value of BTC.

Do you  mean its only good for crypto investor?

[mk4]

Staking can only be profitable if the coin you're staking doesn't end up come crashing down in the end. Let's say, with coin X you're earning 20% more coin X annually from staking. But if ends up crashing down by 50% in a year, then you'd end up in a loss anyway. It's pretty much only worth it if the coin you're staking stays decently stable for a long-period, or if it goes up.

Personally, I see most cryptocurrencies besides bitcoin as short-mid term trades, so staking is not for me. Though I'm personally not a fan of services such as Blockfi, but I'm more likely to lend BTC than to stake altcoins simply because I'm more confident for the long-term value of BTC.

Do you  mean its only good for crypto investor?

It's only good if you actually find certain coins to stake that ends up not crashing in price, which can be quite difficult to do; and that lending BTC through platforms such as Blockfi is a lot better even if I'm not a fan of such service.

[hugeblack]

It depends on two factors, which is the nature of the currency and APY return from staking.

If the currency algorithm allows you to do a stake without locking your tokens (not being able to sell them) then it is ideal if you think that the price of this currency will rise in the future.
But if the currency is unknown, does not have a future or clear plans, you need to lock your currencies, then you staking return will be useless.

In general, staking is closer to saving, you will not make much money from it.

[masphie]

I think all staking platforms are the same, the important thing is that the staked coins have a clear roadmap.
For my advise, maybe you can try staking BNB to get TKO in Safepal.

[(o)(o)ilikeboobs(o)(o)]

You can join stakes at DEFI or Binance to make a profit. Only taking deposits at reputable platforms like Uniswap, cakeswap to ensure risk even though placing your money in DEFI is like joining HIYP.
The money in your wallet is yours so be careful with what you choose.

[TribalBob]

I think for staking, you have to choose carefully which coins can benefit you,
I personally recently joined to staking coins, I mean people who panic and don't want to risk a big enough loss so I only staked in 1 coin, namely Safepal, maybe you can try too

[Yogee]

What kind of staking are we talking about here? Is it like POS where you download the coin's native non-custodial wallet and stake or is it staking that DeFi platforms offer? If DeFi, you should know that there are platforms that steals money by rug pull so be careful which AMM you choose to stake your crypto.

[livingfree]

It's not about generating more profits. It's about how you can get incentive while holding that token of yours.

But what's a snapbot? I've never heard of that nor visited it.

For staking, you can use the prominent exchanges that we use but you don't hold the private keys if you use them for staking.

[pakhitheboss]

Staking can be profitable if you know the coin will not get dumped. I personally do not recommend you to stake on any exchange be it binance or coinbase. Most wallets now days allow you to stake coins. Remember always go for non custodial wallets.

[Ebede]

Hi Guys

Would you mind to share your experience when staking crypto? I wonder to know how staking can generate more profit.

Been a week crypto market's down almost half of its value, Bitcoin itself has been down more than 10% since Sunday.

Do you have any thought of alternative crypto investment? Share your favourite staking platform like Coinbase or SnapBots below!

This question I don't really understand the general concept of these post, is that  Bitcoin can be use in gamble? Is what you mean by staking, because some people can feel or thinking that stake is meant for prediction.

[MusaMohamed]

Staking will be profitable or unprofitable by some factors

- The schedule of block rewards especially parts of block rewards for stakers. Some coins or tokens have mixed algorithms for miners, stakers, masternodes, super nodes.
- When you join and lock your coins to stake. If you join in early blocks, it will be very profitable but if you only join early, you can join scam projects. Consequences, you receive many rewards but can not sell them to get capital back if the coin ends as a scam.
- The longer you keep your capital and received rewards to stake, price might fall deeper. Choose one time to sell them and get your capital back. Keep it and let the rest coins to stake with hope to get profit. If you can not get profit, you still have capital.

[cryptoaddictchie]

Staking can only be profitable if the coin you're staking doesn't end up come crashing down in the end. Let's say, with coin X you're earning 20% more coin X annually from staking. But if ends up crashing down by 50% in a year, then you'd end up in a loss anyway. It's pretty much only worth it if the coin you're staking stays decently stable for a long-period, or if it goes up.

Thats why the good on staking are those stablecoins. I am staking sometime some stablecoin on Binance on their saving options.  5 to 6% APR is not bad and had no losses since the coin will not go down it price. I am looking actually for some higher percentage to stake my stablecoin but didn't want to try out other platform due to trust that it could be gone or what.

As far as I know Abra has 10% reward on staking too.

[cabron]

Staking can be profitable if you believe the token project you invested in is going to be valuable in the future. It always takes time when it comes to investing, the tokens price increases, and at the same time the number of tokens you have increased as well. With that, it can always be profitable.

You never have to worry if you have invested in the project as early as possible. The top projects so far that are for staking are BNB and ADA.

[pooya87]

Staking can only be profitable if the coin you're staking doesn't end up come crashing down in the end. Let's say, with coin X you're earning 20% more coin X annually from staking. But if ends up crashing down by 50% in a year, then you'd end up in a loss anyway. It's pretty much only worth it if the coin you're staking stays decently stable for a long-period, or if it goes up.

Thats why the good on staking are those stablecoins. I am staking sometime some stablecoin on Binance on their saving options.  5 to 6% APR is not bad and had no losses since the coin will not go down it price. I am looking actually for some higher percentage to stake my stablecoin but didn't want to try out other platform due to trust that it could be gone or what.

As far as I know Abra has 10% reward on staking too.

The problem with this type of "investment" is that your money is now in full control of a third party and can be lost in an instant. Historically the exchanges have always been the least safe place in crypto-space. They get hacked regularly, either on large scale when every user is affected or on small when individual accounts are hacked.

[cryptoaddictchie]

The problem with this type of "investment" is that your money is now in full control of a third party and can be lost in an instant. Historically the exchanges have always been the least safe place in crypto-space. They get hacked regularly, either on large scale when every user is affected or on small when individual accounts are hacked.

Can't argue with that but I'm just more confident than binance than most of the exchange out there. On a certain aspect you got a point, I should find a staking platform that is fully decentralized, but of course even decentralized approach have been some experience of exploitation. So nothings safe actually, it's just a matter of choice what to do on our asset.

[dansus021]

staking is profitable if your coin have good real use case

example is Cardano and this coin have good development bigger market cap and good community and also support staking

and now you can start staking with self staking with bigger amount of coin that usually there's tutorial on coin website or just take third party to do that if u have small amount i prefer binance itself is good for staking