How good is staking coins?

[Anthony_4]

I'm sure there are a lot of you who are staking coins. I have a question for you guys: I have a friend who built a doge coin mining farm in order to get some coins and stake them, but I'm not sure how good staking is. How much money do you make from staking each month? People don't seem to be talking about their staking rewards, but miners seem to be......

[7deadlyBTCIN]

Staking is pretty effective if you have the patience, the higher the doge coins you have the higher your staking reward will be, staking platforms have different staking rewards in percentage, some are 6% per annual while some are more, use binance exchange for staking it's one of the best.

[Findingnemo]

I'm sure there are a lot of you who are staking coins. I have a question for you guys: I have a friend who built a doge coin mining farm in order to get some coins and stake them, but I'm not sure how good staking is. How much money do you make from staking each month? People don't seem to be talking about their staking rewards, but miners seem to be......

staking helps the coins to grow and it will be working only for the people who have billions already in their banks and Don't know where to invest and also they are ready to lose it as well to make very little returns. But for someone who is expecting the staking to give returns in few months has more chances to disappoint you because you may get upto 10% return in a year while the coin has potential of losing its 50% value in few hours.

[tabas]

How much money do you make from staking each month?

It is not profitable when you're going to stake with a small amount.

People don't seem to be talking about their staking rewards, but miners seem to be......

That's why many don't seem to be interested on it because what they can earn from holding is much better than putting it on stake. Because even if the required capital is just small, you'll realize to make it profitable, you need to have a higher capital. I've been there and I don't think this is what I need. But if you're holding a coin and you don't need it for years then you stake that if you want to.

[redwine49]

I'm sure there are a lot of you who are staking coins. I have a question for you guys: I have a friend who built a doge coin mining farm in order to get some coins and stake them, but I'm not sure how good staking is. How much money do you make from staking each month? People don't seem to be talking about their staking rewards, but miners seem to be......

Seems I failed to understand your point especially when you mention "dogecoin".
It's been more than 5 years knowing about dogecoin as i know dogecoin using POW (proof of work) just like bitcoin.
There is no staking mechanism in dogecoin network, so the question is "what is your definition between staking and mining in this post?"

[KaliLinux]

I'm sure there are a lot of you who are staking coins. I have a question for you guys: I have a friend who built a doge coin mining farm in order to get some coins and stake them, but I'm not sure how good staking is. How much money do you make from staking each month? People don't seem to be talking about their staking rewards, but miners seem to be......

Yeah of cause you cannot compare mining with staking because mining costs way more to set up and pays more but staking is more of HODLing the crypto assets that you have in other to get some passive income from them instead of just HODL them in your wallet. Staking is not as Profitable as mining but you still good for holding stakable coins/tokens. 

[smartaction]

I'm sure there are a lot of you who are staking coins. I have a question for you guys: I have a friend who built a doge coin mining farm in order to get some coins and stake them, but I'm not sure how good staking is. How much money do you make from staking each month? People don't seem to be talking about their staking rewards, but miners seem to be......

Staking will help you to increase your token amount but staking are not increase token price all the time. when any project offer staking then many people bought that token. Due to this, the price of token increased a bit. But later when everyone started selling tokens the price fell again. The price of a project token depends on the development of the project and a good exchanger not for staking.

[LogitechMouse]

I'm sure there are a lot of you who are staking coins. I have a question for you guys: I have a friend who built a doge coin mining farm in order to get some coins and stake them, but I'm not sure how good staking is. How much money do you make from staking each month? People don't seem to be talking about their staking rewards, but miners seem to be......

Profit from staking differs depending on:
1. How much money did you use to buy the coin.
2. What is/are the coin/s you bought for you to stake it.

Maybe you can check this website to see how much staking reward each POS coin can give annually. https://www.stakingrewards.com/
I've been staking Cardano for almost a year already and with my experience, its good that you are holding a staking coin. You are getting profit both from capital appreciation and from staking rewards. Of course this comes with risk as well especially if the coin that you bought went down. I'm currently holding another coin that is staking but since the price of it went down significantly, I'm at a loss until now even though I'm holding more coins right now because of staking.

[CryptoATM]

Staking is good you get more coins for holding your bags in staking but not as good as mining coins, you need more quantities of the coin to earn more rewards just make sure you go with good projects, I've seen some coins that later died because of lack of developing over time.

[DeathAngel]

Staking USDT & USDC is possible on BlockFi, you can get up to 9% per year. I guess the only problem is the risk of them being hacked & your collateral being drained & they don’t pay you back. It’s a real risk, I’ve thought about leaving significant funds on there before & taking an easy little monthly salary out of the interest but it’s always in the back of my mind about not your keys, not your coins.

[khiholangkang]

How much money do you make from staking each month? People don't seem to be talking about their staking rewards, but miners seem to be......

For tokens that are already well known, APY is the same as deposits in conventional banks, but for new tokens they can provide more, but are very prone to fraud.
The advantage of staking in crypto in my opinion is that we can also get airdrops from new projects, this is what makes the profits much bigger.

[kentrolla]

Staking is a a good concept wherein it's good for the coins which are staked and at the same time we get reward for joining the pools. Its just like recurring or FD scene of banks wherein you get x percentage of interest annually for saving the money for lock in period the same goes with crypto but with bank you don't risk losing anything from your capital investment, but when it comes to crypto if the coin which you have staked rises then you get better return as apart from the interest the value of coins would have increased and vice versa if it drops down. Staking is not for short term investors or traders. Don't jump into it unless you have a clear plan of not cashing it out and willing to accept profit/loss towards the end of staking period.

[ethereumhunter]

I'm sure there are a lot of you who are staking coins. I have a question for you guys: I have a friend who built a doge coin mining farm in order to get some coins and stake them, but I'm not sure how good staking is. How much money do you make from staking each month? People don't seem to be talking about their staking rewards, but miners seem to be......

Staking is good but depends on the coin itself. As we know that there are many coins available to the stake, especially if you stake in the exchange. But the problem is we do not know if the price of the coins can increase at the end of the time we stake. Besides that, we also do not know if the price can jump higher in the middle we stake and make us miss the chance to sell at a high price. I also try to stake AXS, BNB, and other coins, but the result is not much as I do not stake in a large amount.

[tvplus006]

...People don't seem to be talking about their staking rewards, but miners seem to be......

If you decide to hodl the coin, then the percentage of passive income that you will receive monthly will not play a decisive role for you. After all, your main goal at the same time is to save your coins in order to make a profit in the long term. And if you increase the number of coins held on the way to your goal, it will bring additional profit.

[Baofeng]

I'm sure there are a lot of you who are staking coins. I have a question for you guys: I have a friend who built a doge coin mining farm in order to get some coins and stake them, but I'm not sure how good staking is. How much money do you make from staking each month? People don't seem to be talking about their staking rewards, but miners seem to be......

Depends on how much you are going to stake, so the bigger the coins the bigger your return, basic financial principle.

And you also have to look at the APR as well, in the beginning the whole staking hype, the APR was very high. And then when investors started to flock the market, some of the project lower it. So it's important factors to see as well if you are going to put your money in this staking business.

[Gozie51]

OP, staking is very good for little daily income instead letting the coin stay in wallet without use and the percentage of reward veries from different coins. I believe low value coins with cheap price are not comparable to high value coins in staking rewards. So it all depends and the quantity of the coin you are staking.

Staking is pretty effective if you have the patience, the higher the doge coins you have the higher your staking reward will be, staking platforms have different staking rewards in percentage, some are 6% per annual while some are more, use binance exchange for staking it's one of the best.

Does binance have features for staking dogecoin? Are you sure of that? I once did a check but it is not available for dogecoin

[Mpamaegbu]

OP, staking is profitable if you've a crypto you aren't trading. Instead of letting it lie fallow, engage it in staking to earn passive income. In simple term, staking is what banks do when they fix your money and then pay interest on it (as if they actually pay anything meaningful). I have tokens I'm staking too. You've to make sure you're staking your cryotos on a reputable third party site to avoid being scammed. For me, I don't even look at how much they make me daily or weekly. I look at the quantity or units of cryptos it's able to generate for me, knowing full well that can be worth more once alts rally gets on.

use binance exchange for staking it's one of the best

Binance doesn't have staking for Dogecoin. At least, not now. You can cross-check your facts.

[iamsange]

I'm sure there are a lot of you who are staking coins. I have a question for you guys: I have a friend who built a doge coin mining farm in order to get some coins and stake them, but I'm not sure how good staking is. How much money do you make from staking each month? People don't seem to be talking about their staking rewards, but miners seem to be......

Reward is depends on platform that we use to stake coin. Staking coin can be good if in a good platform and good coin. I mean it is all about research first before we do anything in crypto, either it is investing, staking, trading, because wrong coin can cause our loss.

[letyouearn]

Staking is like trading sometimes - if you know how to do it right, you will earn a lot here
If you are staking all you have without any knowledge and experience - you can even lose your money.

[agustina2]

I'm sure there are a lot of you who are staking coins. I have a question for you guys: I have a friend who built a doge coin mining farm in order to get some coins and stake them, but I'm not sure how good staking is. How much money do you make from staking each month? People don't seem to be talking about their staking rewards, but miners seem to be......

You will only see the good result of staking your coins once you actually do it. There's no way we can determine the reward we can get on a daily, weekly, or monthly basis after staking a coin for a long but there should be a computed APY on those that will serve as your reference.

You can refer to your friends about his staking status. After hearing that, you can now decide if you will also try staking coins and see the result for yourself.

Goodluck mate on your plan.