Does staking even make any sense

[bitterguy28]

How do people even enjoy staking their coins and tokens? I'm confused, yesterday I tried to stake some amount of stable coin aka USDT on Binance Exchange and it is worth 1000$ but the return on this in a year is 95$ lol, I laughed so hard that I almost flipped my laptop, why the heck people doing this?.

why choose Stable coin when there are other coins that is having a good staking offering for Binance? Am not sure what is your plans and Ideas but i found it not even when  stable coin specially USDT is not worth staking for.

and why not locked the amount for much longer time than just a year? because if that funds is just for long term and willing to risk then there is no issue in waiting more.

It's true that stable coins like USDT are not a good choice for staking, I prefer staking other coins that can provide greater profits. But if we really want
to staking on stablecoins, we should not choose to staking on Binance, look for other platforms that offer higher interest rates. But we have to be careful
if staking on other platforms, make sure the platforms have a good reputation, so we won't lose our money. It must be admitted that it is very rare
for a trusted platform to offer high interest rates for staking, so if we feel that the profit generated from staking is unsatisfactory, it means that
staking is not something we should do. There are many other ways to make a profit in the crypto world, we just need to find information. What is
certain is that if there is a way that produces large profits, the risk is usually very high, very different from staking usually has a low risk.

actually I am not for very much profit mate but I am for safer investment mate , and I don't trust USDT or Stable coin for that and this is the reason  why I only use more movable coins than this coins.
I will never choose that kind of currency for my long term staking as I have already for some other sites and coins.

[|MINER|]

~snip~

I am totally agree with you because Binance is now the best exchanger in crypto world and I think it's much safer . I also don't see anything wrong with stable coin staking on Binance. For those who have funds that can be urgently need at any time, for those I think flexible staking on Binance is best.  At least better than keeping fiat money it in the bank.

[Ngemmeng]

How do people even enjoy staking their coins and tokens? I'm confused, yesterday I tried to stake some amount of stable coin aka USDT on Binance Exchange and it is worth 1000$ but the return on this in a year is 95$ lol, I laughed so hard that I almost flipped my laptop, why the heck people doing this?.

that's the same thing that came to my mind at first, but it all depends on how much you put in and what token did you use to stake, stable coins like USDT and USDC which are worth one American dollar are very safe to stake compared to other tokens that can go up or down, that's why the return is small but it is guaranteed, they're small but you won't even find them in banks, mostly it's for people who already have a very big capital.

It's true, some people only think about how big the rewards will be from staking without considering the risks they have to face.
if the price drops drastically of course the prizes you get from staking are not worth the losses experienced. This is a risk that must be considered before staking.

[ChaosticCoder]

It is kinda unfair because it benefits more the operator of the stake pool than the users. There's a lot of people being deceived by Youtubers, media influencers, etc saying: 'get passive incoming in this stake pool'. It is true that you get, but for him is way better. He gets more

[budz0425]

I am totally agree with you because Binance is now the best exchanger in crypto world and I think it's much safer . I also don't see anything wrong with stable coin staking on Binance. For those who have funds that can be urgently need at any time, for those I think flexible staking on Binance is best.  At least better than keeping fiat money it in the bank.

Yes, I can say staking in Binance is better than keeping money in Bank, on my personal experience I have left my bank with 400+$ and in almost 2 years I only get less than 10$ since I needed cash and decided to withdraw.  I was surprised it's very small.

[LastKiss]

I am totally agree with you because Binance is now the best exchanger in crypto world and I think it's much safer . I also don't see anything wrong with stable coin staking on Binance. For those who have funds that can be urgently need at any time, for those I think flexible staking on Binance is best.  At least better than keeping fiat money it in the bank.

Yes, I can say staking in Binance is better than keeping money in Bank, on my personal experience I have left my bank with 400+$ and in almost 2 years I only get less than 10$ since I needed cash and decided to withdraw.  I was surprised it's very small.

Yeah bank is really bad when it comes to saving money, it's better to invest in gold or just invest in something else rather than keeping our money in the bank in a long run. Staking is the best option if we don't want to trade or invest in the current condition. Staking is perfect for those who want to earn without any extra effort unlike trading but there's always a risk when we invest in something.

[kojektea]

you just keep your money and you get $95 for free without spending your money on staking why are you upset about that? Have you understood about staking? it is indeed used for those who hold their coins long term but also want to increase their estimation in a safe way through staking. add your money in staking more you also get more results.

[Fredomago]

I am totally agree with you because Binance is now the best exchanger in crypto world and I think it's much safer . I also don't see anything wrong with stable coin staking on Binance. For those who have funds that can be urgently need at any time, for those I think flexible staking on Binance is best.  At least better than keeping fiat money it in the bank.

Yes, I can say staking in Binance is better than keeping money in Bank, on my personal experience I have left my bank with 400+$ and in almost 2 years I only get less than 10$ since I needed cash and decided to withdraw.  I was surprised it's very small.

It's a yes if you also understand the risk behind this business, though Binance already established more clients all over the world and just how you give your example with your savings from the bank APY is much lesser compared to what Binance offer, if you have that trust and you have a good amount of money that you can hold for some time, taking advantage of what binance is offering might be fit for you. Earning while saving your money by means of staking all will depend on how you understand the potential profits.

Try with 10,000$ and see the difference, stakes are for rich people but also we have defi staking that takes 30,60,90 days just to get 3-15% returns I think this are better than yearly staking.

I agree. Staking pays more depending on the amount you are staking plus I believe those that might even want to stake even when their hodlin is small might see it as still getting some thing from t while they hodl that amount of time instead of just keeping them in wallets without earning those we might want to look at the risk but with an exchange like Binance, it is worth the try.

The risk is always needed to weight if you don't know how to balance you might see this as worthless but if you do understand the whole concepts Binance staking gives decent amount, just by staking your investment you will wait and see some growth from your initial investment.

[abralzain17]

doesn't stable coin only offer the lowest returns?, even your bet is very influential from the size of your bet and the bet really depends on how much money you have. if you have a little money in my opinion you should consider your bet. My explanation seems very reasonable

[bonyaserg]

Personally, I think that betting is certainly interesting, because after a successful bet you get a positive result. So he can just bet on another coin, where the income will be much higher. You just need to be patient and draw up a profitable strategy for yourself and get much more profit from the bet.

[Ben Barubal]

How do people even enjoy staking their coins and tokens? I'm confused, yesterday I tried to stake some amount of stable coin aka USDT on Binance Exchange and it is worth 1000$ but the return on this in a year is 95$ lol, I laughed so hard that I almost flipped my laptop, why the heck people doing this?.

At least the 1000$ you set up in stakes via Binance grew by 95$ in 1 year. Instead of putting it in the bank, that's not how your money will grow. But I think my advice to you is, next time you stake money, don't go to the Binance platform, better in my opinion according to my research  biswap is one of the good rather than Binance in my own assessment, at least on this platform you can withdraw the money anytime Unlike Binance you cannot, due to it will be lock up according to your set up period.  It's like a time deposit, in biswap it's the same but you can take it out at any time or even you just want to reduce it.

[Invester]

It is best that we keep our own coins in our hard wallets. But there is no wrong when people are staking even on decentralized platforms like Binance for example. There are risks but if people knew that then it is fine. If it is extra money then a thousand dollars earning $95 for a year is very good enough. We're talking about returns in contrast with banks very low yearly interests on our savings.

Instead of bashing people that staked their coins, why not share to us better ways to earn more?

 

[CPNpr]

~snip~

I am totally agree with you because Binance is now the best exchanger in crypto world and I think it's much safer . I also don't see anything wrong with stable coin staking on Binance. For those who have funds that can be urgently need at any time, for those I think flexible staking on Binance is best.  At least better than keeping fiat money it in the bank.

Can't agree with you girl here the reason binance isn't number one in the world is better than acting someone else who has stuff you're not using you would have realized if you were.

[Imran232]

<......................>

In my opinion, staking is a good option, but in this case you have to understand what type of investor you are. If you are a short-term investor, staking is not for you; however, if you intend to invest in any coin or token for a long period of time, such as 2-3 years, why not use the staking feature if it is available? Just think you are holding a coin for 3 years. That's your plan. If you hold this coin for 3 years, then you will get the profit after 3 years when you sell it. The profit will be the price you paid for it. But if you stake and the return you will get from the coin is 20-30% atleast a year, then just imagine you will get your investment back after a 3 year stake period. That means now your investment amount is 90% extra. That means whatever profit you will get before you stake, now you will get an extra 90%. This means your investment becomes 90% extra without investing. That's it.

[RussianEnglishTranslation]

It is best that we keep our own coins in our hard wallets. But there is no wrong when people are staking even on decentralized platforms like Binance for example. There are risks but if people knew that then it is fine. If it is extra money then a thousand dollars earning $95 for a year is very good enough. We're talking about returns in contrast with banks very low yearly interests on our savings.

Instead of bashing people that staked their coins, why not share to us better ways to earn more?

 

I don't trust exchanges with my money. I only stake on DeFi platforms like Alchemix or in wallet using POS cryptos like ICP and Celo.

[Fredomago]

<......................>

In my opinion, staking is a good option, but in this case you have to understand what type of investor you are. If you are a short-term investor, staking is not for you; however, if you intend to invest in any coin or token for a long period of time, such as 2-3 years, why not use the staking feature if it is available? Just think you are holding a coin for 3 years. That's your plan. If you hold this coin for 3 years, then you will get the profit after 3 years when you sell it. The profit will be the price you paid for it. But if you stake and the return you will get from the coin is 20-30% atleast a year, then just imagine you will get your investment back after a 3 year stake period. That means now your investment amount is 90% extra. That means whatever profit you will get before you stake, now you will get an extra 90%. This means your investment becomes 90% extra without investing. That's it.

As long as you know the process and you have a good set target time period, staking is a good way to increase your investment, just look for potential project that have stake feature then hold it for some time, it's all on your good understanding that will allow you pick the right coin to stake your money. Like what you mentioned, short-term investors might not enjoy this feature unless you are staking with hype/pump new project who offer stake rewards, though the risk is always high with such kind of project better to find establish project or something that you take your time to DYOR before you go and start investing your money.

I believe why the interest we get is small is because we stake on stable coins that really maintain their price and quality. it is impossible with a little staking capital to earn more like farming on a DeFi platform. you better increase your capital, because it's fair. you get stable coins with small interest it is like no risk.

No risk unless the platforms collapse or runaway with investors' money. Your opinion is logical, stable coin provides small interest, but if the platform/services are established, the possibility of passive profits is a sure one for your investment.

[blockman]

I don't trust exchanges with my money. I only stake on DeFi platforms like Alchemix or in wallet using POS cryptos like ICP and Celo.

Still, be careful, you don't forget that most defi platforms are being targeted by hackers and as well as frequently shown with exploits.
(https://hacken.io/research-and-investigation/top-defi-hacks-of-2022-and-how-to-protect-against-them/)
I understand how staking works and we have to leave our funds on the platforms but before doing that, make sure that you've done your research before entrusting your fund to any platform, centralized or decentralized.

[Wawa2013]

How do people even enjoy staking their coins and tokens? I'm confused, yesterday I tried to stake some amount of stable coin aka USDT on Binance Exchange and it is worth 1000$ but the return on this in a year is 95$ lol, I laughed so hard that I almost flipped my laptop, why the heck people doing this?.

At least the 1000$ you set up in stakes via Binance grew by 95$ in 1 year. Instead of putting it in the bank, that's not how your money will grow. But I think my advice to you is, next time you stake money, don't go to the Binance platform, better in my opinion according to my research  biswap is one of the good rather than Binance in my own assessment, at least on this platform you can withdraw the money anytime Unlike Binance you cannot, due to it will be lock up according to your set up period.  It's like a time deposit, in biswap it's the same but you can take it out at any time or even you just want to reduce it.

Always be careful with new platforms. Don't jump in without any research because of the high returns they offer and attractive policies, you could lose money. I don't know about the biswap you mentioned but I disagree with you that we should not go to Binance but go to a strange exchange, you are going against everyone. In addition to the functionality that allows you to withdraw your stake at any time, do they assure you that your funds will not be lost or locked?

The selection of platforms for staking is very important, we must make sure the platforms we use must have a good reputation. So that we don't
lose money, because nowadays there are lots of fraud incidents carried out by new platforms. Because like you said lest we be tempted by bigger
offers or more attractive policies, we end up staking on new platforms, where the risk of us losing money is huge. I think it's better to get
a smaller profit, but the platform we use is indeed trusted and has a good reputation. Binance is one of the platforms I recommend for
staking coins, because I have proven it myself. Which I stake on Binance and never had a problem.

[albon]

I believe why the interest we get is small is because we stake on stable coins that really maintain their price and quality. it is impossible with a little staking capital to earn more like farming on a DeFi platform. you better increase your capital, because it's fair. you get stable coins with small interest it is like no risk.

The more a person has large capital, the higher the interest rate, I completely agree with you, there are many good coins other than stable cpons that we can stake and earn money from holding in the long term without making them idle and not benefiting from them, the most important is To do staking on trusted exchange platforms such as Binance and others, and beware of the platforms that give more interest than the famous exchange platforms because they are mostly scam platforms whose purpose is to attract greedy people, so we have to be satisfied even with a small interest is better than not getting anything or losing our money in new platforms.

[CPNpr]

I believe why the interest we get is small is because we stake on stable coins that really maintain their price and quality. it is impossible with a little staking capital to earn more like farming on a DeFi platform. you better increase your capital, because it's fair. you get stable coins with small interest it is like no risk.

Yes I think that you have not invested in the platform here but the risk is very low but if we look at the other disadvantages here then it can be seen that we have to invest before investing.