Saving Vs Staking

[Alisha-k]

For a newbie who doesn't even know how the both process works and what it takes to stake a coin or how the make profit staking their coins nor how to invest in a given coin or exchange. Staking it's like leasing out your coin more like loaning out your coin to a particular exchange then get an interest on it either annually, monthly , or daily depending on the worth of your coin and the terms associated with the exchange while saving is like investing in a particular coin with the hope of it bringing in huge returns in the future.

[mk4]

Agreed about the centralization of staking method was the major reason why a true crypto enthusiast will choose holding over staking but Sovryn seems to offer to stake in a decentralized way though I haven't tried it out.

Been seeing a lot of hyped things about the likes of Sovryn and Stacks as well, about having "DeFi on Bitcoin" or something. But meh, things could be all talk in the cryptocurrency space so I'll believe it when I see it.

[SFR10]

Here is a picture what i download from online though i can't remember from where i download it because it was in my Gallery. Sorry for whom who made this picture but i can't credit you sorry for this.

You can find their logo at the bottom of the image ^{[investing authority]}.
- They have a page on Instagram:

Code:

https://www.instagram.com/investingauthority

I know that you can stake multiple POS coins with a Ledger hardware wallet and Ledger live, but I never analyzed how exactly it works and if you are really giving up control of your coins or if they stay in an address controlled by you.  

Based on a couple of videos that I just watched ^{[two different apps on the Ledger live]}, you'll be sending it to them ^{[unfortunately, it's not the latter one]}.
Personally, I'd prefer to go with the safest route ^[saving], as opposed to putting everything in jeopardy ^{[no matter how high the rewards might be]}.

[pawanjain]

Saving was a great thing for the generation before us but right now saving your money just by holding it in banks is probably the worst thing to do.
Inflation rates are almost more than interest rate on savings account. So we are actually losing money by just holding it in banks.

Investing is a better choice but at the same time we must be very careful on what we are investing.
Investing in cryptocurrencies has been very beneficial for many people. Cryptocurrencies which allow us to stake is more like a blessing.
But at the same time we must do a thorough research on how we are staking our coins.
Giving the custody of our coins to a third party would be risky and so we should look for options where we don't have to give the custody to a third party.
Staking coins while still owning them is the right way to go.

[UserU]

Here is a picture what i download from online though i can't remember from where i download it because it was in my Gallery. Sorry for whom who made this picture but i can't credit you sorry for this.

You can find their logo at the bottom of the image ^{[investing authority]}.
- They have a page on Instagram:

Code:

https://www.instagram.com/investingauthority

I know that you can stake multiple POS coins with a Ledger hardware wallet and Ledger live, but I never analyzed how exactly it works and if you are really giving up control of your coins or if they stay in an address controlled by you. 

Based on a couple of videos that I just watched ^{[two different apps on the Ledger live]}, you'll be sending it to them ^{[unfortunately, it's not the latter one]}.
Personally, I'd prefer to go with the safest route ^[saving], as opposed to putting everything in jeopardy ^{[no matter how high the rewards might be]}.

Plus, for anyone planning to locate the source of the infograph, here it is

https://www.instagram.com/p/CSIXUnkNbY-/

[ReiMomo]

I would invest in crypto and stake for a long term and earn the profits than saving my money in a bank. Once you are good enough in trading, you will certainly be confident enough to invest as much as you can into crypto than saving in a bank. But obviously, you should be patient enough to face market manipulation.  Market is going to be waving always. So never loose your patience. This will help you earn more from staking.

[CryptopreneurBrainboss]

I enjoy staking because I literally understand how to go about it and I also realize it would add up more than just holding, so I prefer to stake to just hold.

I'll consider the staking to be altcoins, because technically Bitcoin can't be staked but just held in your wallet. Don't believe any platform that wants to take control of your Bitcoin in returns for interest. The very moment you send your coins to that platforms, you no longer own those Bitcoin irrespective of what the platform promised. These staking platforms like exchanges etc are using centralized which means they can be hacked and the chances of you receiving back your coins is minimum.

As for altcoins that can be stakes by simply holding them in your wallet via connecting with smart contract, that has less risked although it still not better than holding as you'll be relying on the smart contract of the project not to fail and from the ongoing hacks happening to the so called decentralized platform , it's just a matter of time before the staking smart contract get exploited because majority of the Defi project are just flawed.

With holding, you're in full control and don't have to wait for a certain time before you can have control over your coin but that can't be said about staked coins, usually there's always a vesting period before it can be used after it gets unstaked, that's not financial freedom.

[finaleshot2016]

Staking, in my opinion, is preferable than saving, especially when you're staking an asset that will appreciate in value over time. Staking will increase your assets, and by the time you take profit, they will have grown in value due to the project's progress.

But, of course, it's not as simple as staking; you'll need to research and study whether it'll be profitable in the long term because you'll need a potential asset to invest in.

[cryptoaddictchie]

Staking, in my opinion, is preferable than saving, especially when you're staking an asset that will appreciate in value over time. Staking will increase your assets, and by the time you take profit, they will have grown in value due to the project's progress.

Comparing the potential gains. Then everyone here will go for staking. The only concern on staking is the platform and its security. Sometime there are people who dont want to use cex just to do staking, since its exposed their identity. On the case of decentralized platform, their reason would narrow down with the security aspect cause we can see a lot of hack or flash loan event occured in the past that might lead to easily loss of funds.

[Cornia]

Topic title is "Saving vs Staking".  But the picture shows "Saving vs Investing". There is a subtle difference between Staking and Investing. Staking is to keep your asset locked for long term like 6 months, 1 year, 3 years. You cannot use your asset at this time. At the end of the time period you will get a profit. And in investing or trading you can use your asset at any time. You can trade if you want and you can't trade if you don't want. Here you have your freedom.

[Evgenklm]

I think investing in staking is a more acceptable investment, the main thing is to find a reliable place for your investments and it is better to invest in stablecoins, where the exchange rate is stable , you can look for riskier coins, but this is at your own risk.

[Gbniman]

Cryptocurrency staking is often simpler and potentially the more profitable option between the two, with some added risk. However, savings accounts also have their merits and can form part of a diverse investment portfolio.

[Stunzz]

I enjoy staking because I literally understand how to go about it and I also realize it would add up more than just holding, so I prefer to stake to just hold.

There are lot of advantages of staking and just hodling,
one of the disadvantages of staking is prone to hacks, your funds depend on the platform which you staked your funds, even though most of the crypto projects right now are open-source, there are still holes in some projects even how quality it is.
Hodling disadvantage is could be less ROI, since you just hodl it and you will just wait to increase the price of the token you hodl. That's the only downside, but it's safe if you hold your private keys safe, then you are the only one who accesses your funds anytime.
And some staking has a feature that is locked, which they have a specific time when you can withdraw it.

You're absolutely right but it's not all staking that requires you to provide private keys.

Mind you, whenever I wanna stake on a project I'm not 100% certain about, what I do is just create a new wallet, have the token transferred into it and then stake.

Moreover, our trying to move away from centralize network shouldn't promote scam.

It just hurt to see people using crypto to promote their fraudulent act. Argh  

[witcher_sense]

Cryptocurrency staking is often simpler and potentially the more profitable option between the two, with some added risk. However, savings accounts also have their merits and can form part of a diverse investment portfolio.

What kind of investment portfolio is that if it is inevitably falling in value no matter what steps you take to prevent that? Assuming your savings account gives you 5% profit annually, which is incredibly high returns, you are still losing about 15-20% value due to aggressive monetary expansion. I don't think this is a great idea to use such a strategy to save your money. On the other hand, cryptocurrency staking could have even worse outcomes because the market is volatile, which means you could end up with the amount of money much less than you initially invested. Moreover, the majority of the projects adopting staking are usually explicitly or implicitly centralized, which is why they can be easily shut down by authorities. I would say neither of these options should be considered safe and reliable, especially, if the wellbeing of your family depends on it.