Is Staking Coins a Good Idea?

[RiskySanchez]

normally APY is calculated as a percentage of the number of stack coins for a certain period of time. however, stacking coins will be better for players who like to hold coins for a long time, if in the short term the percentage of APY obtained will be small and if there is a bullish market trend it will be a pressure for yourself because the stacked coins cannot be withdrawn

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[nicolas1979]

Actually, I heard about Staking the coins gives apy. I want to know is really a staking good idea & what will be the staking months like 1 month, six months or 1 year.

Annual staking with monthly staking of course APY is much different. Perhaps for the percentage generated will be higher staking made within a year.
You can do staking on Binance, for me Binance is much safer than other sites that do provide special staking services. You can also stake on Pancakeswap, the APR rate is much higher compared to Binance. But I've never staked on Pancakeswap, so I can't explain the details. I often use Binance when it comes to staking, especially when I see the market is going down.

[Fredomago]

Actually, I heard about Staking the coins gives apy. I want to know is really a staking good idea & what will be the staking months like 1 month, six months or 1 year.

Staking is a good way for some passive income but you should know about how it works, currently I am also staking on several platforms, maybe the passive income generated when we staking seen from the number of tokens and APY provided by the platform, I think it will it is better for us to risk assets than just leave them in the wallet but provided that we are risking good tokens and low risk.

You have to understand more deeper if you are aiming for passive income, the hypes also influenced the possible profits. Make sure to check the lock in period as it will determine the full potential of your earnings, if there's a long time frame think twice unless you really know or trust the developers, better to look for good and quality assets who will allow you to withdraw your fund anytime that you needed your money.

Actually, I heard about Staking the coins gives apy. I want to know is really a staking good idea & what will be the staking months like 1 month, six months or 1 year.

Annual staking with monthly staking of course APY is much different. Perhaps for the percentage generated will be higher staking made within a year.
You can do staking on Binance, for me Binance is much safer than other sites that do provide special staking services. You can also stake on Pancakeswap, the APR rate is much higher compared to Binance. But I've never staked on Pancakeswap, so I can't explain the details. I often use Binance when it comes to staking, especially when I see the market is going down.

Binance indeed is the best place and there are many available options, do your DYOR and pick the right asset to stake your money.

[alan228]

Now more and more people are investing money in cryptocurrency, which means that it will be more and more difficult to stop it or ban it. Now there are a lot of DeFi in the gaming industry, which will attract even more attention to cryptocurrencies. Here is an article about gaming and DeFi https://cinemadraft.medium.com/introducing-cd3d-the-official-defi-game-token-of-cinemadraft-cb5d3f191338

I agree about the competition, but it seems to me that the prospects for NFT in games are very large, because despite the great competition between games, each game has its own players, and the presence of NFT makes the gameplay more exciting and profitable.

For NFT games, a powerful blockchain is needed, now the Ethereum blockchain does not cope well with the load of DeFi and NFT and the commissions in Etheuem continue to grow, which is not convenient for using NFT in games.

[Anguwa]

Staking coin is an interesting thing to do as it yield profit, one can stake for some period of time depending on the agreement and its very profitable and also it is risk, but the profit depends on the amount coin staked and the percentage of profit agreed on for a particular time frame.

[Semar Mesem]

I think staking is a good thing to test things out of the coin. Almost a year i am staking some coins, the results are often different from those in the deal, sometimes bigger or smaller, some of the coins I am staking until now are Tezos, Cosmos and VeChain.

[Cadaver20]

I personally don't like staking. Because in staking, you have to lock your asset for certain period. You can't use your coin in that period. The value of your coin may dump a lot in the staking period. If you want to withdraw your coin before the end of staking period you may have to face a penalty.

[Bes19]

Staking is actually good for long term but always DYOR on token you want to stake and platform you want to use for staking. They higher amount of token/coin you stake, the bigger the profit.

[olib123]

The benefit of staking is that you earn more crypto, and interest rates .Rewards and Extra Income Staking is a important way to diversify assets and reduce transaction fees on the blockchain. It is a good for long term. Staking is actually good for long term.

[semobo]

The benefit of staking is that you earn more crypto, and interest rates .Rewards and Extra Income Staking is a important way to diversify assets and reduce transaction fees on the blockchain. It is a good for long term. Staking is actually good for long term.

How does the staking reduces the transaction fee?

Staking an altcoin is highly risky investment idea and not really worth the returns since the price of a coin can dump 20% in a day but while staking you can earn maximum upto 6% per annum.

[Rana590]

The benefit of staking is that you earn more crypto, and interest rates .Rewards and Extra Income Staking is a important way to diversify assets and reduce transaction fees on the blockchain. It is a good for long term. Staking is actually good for long term.

I think you have forgotten about the bear market of crypto currency. All the staking are not good to generate profit. If the price of your desire coin fall down in huge amount then what will be the condition? Your staking rewards won't be able to cover this loses. In my opinion, it's better to analyze more before stake a coin.

[tyz]

The benefit of staking is that you earn more crypto, and interest rates .Rewards and Extra Income Staking is a important way to diversify assets and reduce transaction fees on the blockchain. It is a good for long term. Staking is actually good for long term.

I think you have forgotten about the bear market of crypto currency. All the staking are not good to generate profit. If the price of your desire coin fall down in huge amount then what will be the condition? Your staking rewards won't be able to cover this loses. In my opinion, it's better to analyze more before stake a coin.

Well, on the one hand you are right. In a bear market the staking rewards will not cover the losses you get from the price dump, however, if you are convinced that the bear market is only temporary (which it has always been for most coins), then such bear markets are the phase where you can make the most profits, especially if you save all your rewards through staking for 1-2 years and wait until the bull market starts again. Then the value of your original investment will multiply.

[Capt00]

Staking is a good idea because if you plan to keep your currency for a long time, it is a good idea to stake because you can get passive income from it. Staking, in my opinion, is also safe, as you will not lose money (as long as the price of the coin you are staking does not fall), and the longer the time period you choose for staking, the higher the APY you will receive, as APY is dependent on the time period you choose for staking.

[Jaered]

Staking is a good investment option. And like any investment option especially in or off DeFi, there is a risk. Staking involves putting your token or money on a platform and getting an Annual Percentage of Rate or Yield(which is compounded). You get steady payment. But the problem is the platform can be scammy and pull a rug on you. Also the token price can take a dump and you would get almost nothing by the time you are ready to leave. I have been burnt before, not once but twice

[Sayeds56]

normally APY is calculated as a percentage of the number of stack coins for a certain period of time. however, stacking coins will be better for players who like to hold coins for a long time, if in the short term the percentage of APY obtained will be small and if there is a bullish market trend it will be a pressure for yourself because the stacked coins cannot be withdrawn

Well said. I think APR is more relevant than APY if you are willing to make passive income from staking/farming on DEFI platform. There are many planforms like Pancakseswap where you can stake/unstake coins whenever you like. DEFI is a great idea specially for REtired people who need regular income to run their day to day needs. This sector has attracted huge investment since it was launched.

[bixiiMaphi321]

One of the main benefits to crypto staking is that it eliminates the constant need to purchase expensive hardware and reduces energy consumption. The system provides a guaranteed profit and a predictable source of income, the value of the coins you bet on does not depreciate like using ASICs and other mining hardware, can only be affected affected by fluctuations in the current market price. Choosing the right currency to bet is both a game of numbers and a sense of courage. If you choose to start betting, start researching about minimum amounts, wagering rewards and specific wagering methods. Always remember to choose a project that resonates with you and one that you look forward to going far into the future. After all, by placing a bet, you are helping to make that project a reality.

[Koro-Sensei]

Yeah why not. It gives you the benefits of holding for price hikes and rewards you by it. The APY however isn't that high compared to providing liquidity but still you have the edge of not having a permanent loss. Aside from that, projects like SOVRYN even gives you the opportunity to earn airdrops by your staking with almost 2% supply worth of every project that is launching to their platform added by your staking APY which is 30% liquid SOV. Other projects like GOMT also gives you the opportunity to steak your hydra when you bought GOMT using hydra. Your hydra payment will also be staked and by the end of the year, you will be rewarded by GOMT. How cool is that.

[matchi2011]

It is good that DeFi is being used in new areas that already have many users and are popular. This will more popularize cryptocurrencies and attract many new users to the DeFi market.

But there are also a lot of defi projects that are not really targeting what it use to be.
Everyone has to be careful with those defi projects and if they just want to earn passively, you can choose to have staking coins and just do it on your own without depositing it to any platform.

You need to work carefully in choosing what defi project to invest your money, just like what you say there are also defi which is not performing and investing to that will only lead you to lose your investment, carefully analyze and then assess if you are targetting the right one, before you proceed make sure that you are done with acknoledging all the information that you need in order to react and adjust if there's a need for you to do so.

It is a must that every investor has to take their time knowing if the project they've invested are worth it. Defi projects and staking too should be looked upon depending on the risk that you can take.
It all sums up with the chosen defi or coin that you're investing because not really all of them are legit.

It ends with how informed you are with the project that you are supporting and placing your investment.

The more you understand the better chance that you'll be able to earn,
either staking or investing to any potential assets.

Staking is for those who can hold for much longer, investors who are aiming
for higher return of investment, this is another extra earnings while waiting
for your supported asset to pump high.

[Galley]

Actually, I heard about Staking the coins gives apy. I want to know is really a staking good idea & what will be the staking months like 1 month, six months or 1 year.

I personally don't like staking.  Because here your asset will be locked for a long time. You can't use your asset even if you need to. And the longer you stack, the more interest you will get.

You can place bets where there is no need to block your coins for a long time. And if necessary, you can remove them without any problems. The percentage will be slightly lower, but something needs to be sacrificed.

[Williamm07]

For me the answer is no because to make good money from staking you need to stake large portion of your coins or tokens which requires thousands of dollars in value, it's way better to buy graphic cards and build mining rigs to make good money every 24hrs, a gtx1660 super costs 400$+ and it gives you 2$ per day, in months you get your money back and keep making free money nonstop after