Always do Some Research Before You Start Staking

[Psilocybin9]

A lot of people don’t tend to stake their tokens, but you should keep in mind that staking is a great way to help out your community. Staking tokens on proof of stake networks makes you a delegator, and as a delegator you can directly help make your network safer.

There are a lot of staking platforms and validators out there, and as a delegator your stake helps decide which validators are validating the blocks on your network. Before you start staking though, make sure you get information on which staking platforms are available for your network. Once you have all the information on the staking platforms participating on your network make sure to pick the best ones, for example: I found Cosmostation and pStake are probably the best staking platforms for Cosmos.

There are a lot of great staking platforms out there, but there are also many shady ones as well. Really, just like with anything else in this space make sure to do your research before you start staking.

[kaya11]

A lot of people don’t tend to stake their tokens, but you should keep in mind that staking is a great way to help out your community. Staking tokens on proof of stake networks makes you a delegator, and as a delegator you can directly help make your network safer.

There are a lot of staking platforms and validators out there, and as a delegator your stake helps decide which validators are validating the blocks on your network. Before you start staking though, make sure you get information on which staking platforms are available for your network. Once you have all the information on the staking platforms participating on your network make sure to pick the best ones, for example: I found Cosmostation and pStake are probably the best staking platforms for Cosmos.

There are a lot of great staking platforms out there, but there are also many shady ones as well. Really, just like with anything else in this space make sure to do your research before you start staking.

Good for the stakers, but I am not fond of staking. Aside from personal issues I really have no intention of staking whatsoever tokens that I have. I'd better hold the coins in my wallet and just increase them whenever I had the means. You know when times you really the coin, it somewhat unavailable and locked, also some staking wallets are shady, whenever there are pumps going on, maintenance comes and you can't even touch or trade the coin.

[masulum]

There are a lot of great staking platforms out there, but there are also many shady ones as well. Really, just like with anything else in this space make sure to do your research before you start staking.

Research is a must that you must do before making a decision, including when you decide to stake. Indeed, in simple terms, staking looks very fun, because it is enough to earn money just by holding. However, you should consider the long term potential of the coin. you have to think, how about the future, when you have chosen a coin to stake, the longer the coin/token it will disappear from circulation/or they will survive with innovative technology or not. This is the reason why you need to research before doing staking.

Then, you mentioned a staking platform which in my opinion, you will use a 3rd party for staking. It will be more dangerous if you choose the wrong platform. Because, when you choose a platform that turns out to have no long-term goals or intends to scam, then the assets that you have sent to the platform's wallet will also disappear.

[tbct_mt2]

Staking is like long term investment so research is important. If you invest, you will be able to sell your coins anytime. If you invest and use coins for staking, your coins will be locked so it is a second risk.

There is alternative for staking, that is bond. With bond, you will be able to claim your reward according to bond vesting terms.

They have common risk, risk of inflation and risk of price fall when you are staking or vesting.

[asyakashi]

Actually the Proof Of stake system is still very profitable, but I think this concept is starting to be forgotten. Now, we've very rarely seen a project that carries the concept (POS). Modern this concept is replaced with DeFi which is farming. Where the system is almost the same as staking only have to put funds with a fair of 50:50 with a firmer result based on APY and Pool.

[glendall]

For me, staking is a long-term savings and requires quite detailed research so as not to lose, it's true as you said, risk is unavoidable, there must always be risk in every action in investing, so here we research the risks that will be faced if we staking

[indo1]

We really need to research more deeply especially if investing in the Proof Of Staking project. Because POS is very suitable for the long term, although the investment is not as difficult as POW but the profit is very hefty, usually based on the capital we plant we will get in return from the blocks.

[cryptoaddictchie]

As long as thr source code is safe and the vault are well audited gladly will park some of my tokens on staking. But it rarely to do a staking on their own except those high valuation project since its kinda scary that it might got compromised. But doing staking is really a good way of scalping without thinking of any technical parameters like on trading. If you are a busy person then staking is your cup of tea rather do a time consuming trading.

[Milan1009]

I agree, when you do the research there are clear signs of terrible projets when it comes to staking. For example, 5 to 6 figures APYs are currently related to stakings that aren't sustainable over time, as it has happened with several projects over the last months. Also poor community engagement is a bad sign.

I personally like staking stablecoins.

[shinratensei_]

There are a lot of great staking platforms out there, but there are also many shady ones as well. Really, just like with anything else in this space make sure to do your research before you start staking.

As long as people are only using reputable sites and they will be fine. The problem is sometimes a new platform was offering non sense APY like 6000% APY and this makes newbies blindly put their money on such platform.
People must be careful with any platform that was offering non sense APY. Sometimes when the coin didn't have a good progress and it can also become another disaster for the stakers.  

[TopT3ns]

Usually new dapp project giving crazy APY reach almost 50,00% but have bigger risk with coin price dump and become scam, I don't believe anymore with dapp exchange listing only and prefer looking for on Binance as safety staking coin, although with lower percent profit giving I keep use coin have listing on binance for Staking, now I try get much money and save in fund to stake AXS coin, hope when my saving reach almost $30,000 get axs coin have lower price maybe under $70 and good investment with AXS coin staking or try to investing.

[cabron]

You should first be careful in choosing which coin before staking. I have tried investing some tokens that are not worth actually, buying them for more than $1, and then the price today is just $0.07. There are hundreds of them to be trapped and while they do promise just about anything, there is a list to trust the CMC list which right on top of the list is the ones you should just try. There's SOL, Matic, and even ADA.

[BitcoinBarrel]

Staking is a commitment, and the APY is good compared to other long-term investment options.

[yazher]

There are a lot of great staking platforms out there, but there are also many shady ones as well. Really, just like with anything else in this space make sure to do your research before you start staking.

There are some pump and dump tokens who offered to stake out there but when they gathered enough money, they stop developing or updating their project. It's too late for their investors to know their true intentions since in the beginning, they were active in chats and emails. That's why if you wanted to invest in such coins, you need to do a proper investigation of their teams and don't rush to any investment with just hearing their promising words because, in this industry, almost everyone has sugar-coated their words so that you would in them.

[alfanjhon]

Yes, my friend agrees, with the coin stake we can take a lot of profits and other than it can also be to support the project of the coins we either conquer, but keep before you plunge to make sure that the exists.

have a good day

[michellee]

Research for something you want to do is a must before you start so you know what the project is, how good the project can give you a return in the future. But you need to be ready to wait for your investment run because to use the staking program needs long before you can earn many rewards.

As long as the coin is good and has potentially increased in the future, your waiting time will be worth it and will give you profit, especially if your staking process is finished at the right time so you can sell it when the price increase higher.

[sunsilk]

It's true that there are others that are shady because they're not yet known and you have to be careful in which platform you're staking your coins on. Staking is a good passive income as much as you have a big amount to stake so that you'll be getting a quite sum of money for the profit.

But if you don't have that much, it's also nice because by doing nothing you'll get more coins as a reward of staking and that adds to the current staked coins you have.

[Baofeng]

As you have said, not just in staking but in all others that involved crypto, there will always be scammers and shady characters behind because they know they can hide within the confines in the space of "pseudo-anonymity" argument.

Initially there are a lot of staking exchanges that is reputable but lately, some shady exchanges popping up like mushrooms and take advantage of the whole staking game and netting a lot of noobs and pulling a rug pull.

[pawanjain]

Staking is like long term investment so research is important. If you invest, you will be able to sell your coins anytime. If you invest and use coins for staking, your coins will be locked so it is a second risk.

There is alternative for staking, that is bond. With bond, you will be able to claim your reward according to bond vesting terms.

They have common risk, risk of inflation and risk of price fall when you are staking or vesting.

Staking coins is really a good way to generate passive income in my opinion. It also depends on which coins you are staking.
For some coins there is a low lock-in period and we can unstake the amount in just a few days which provides us the flexibility to sell coins whenever we want.

When fiat is involved bonds are probably better than opening a fixed deposit. But then again not all bonds are safe.
The ones which are relatively safer has lower returns but still better than FD. Overall I still think staking is the best option here.

[masterrex]

I Agree with that advice and it must be done first before anyone gets involved in investing or staking process First, just make a thorough research about the project that was offering the said services so that the risk can be minimized because crypto platforms are built only with trust and most of the time that so-called trust was betrayed mostly by the project team itself because of money. so that was good advice.