New to staking - is this worth it?

[zasad@]

Hi,

Have just bought £100 worth of Verasity (VRA) which got me 24500 total.

I have just gone to withdraw this to stake elsewhere but noticed there is a fee of 1500 VRA.

The APY for staking this crypto is 18.25% - is this worth doing or due to the fee am I just better off holding?

I plan to hold for 18-24 months.

If anyone could advise on the above or on staking in general if it is worth it.

Thanks

For 4 months, the price of this coin has fallen 5 times and you want to stake it for 18% per annum. That's funny. It is better to try the same with Atom, Polkadot, Ethereum, these coins are much more reliable and stable.
https://www.stakingrewards.com/

[gurunanakji777]

The fee is really on the higher side If you want to stake then you should go with £500 worth of Verasity so that you will gain a good number of coins through the staking and staking with fewer coins would not be a good idea. I don't like staking because of the rules of staking If you want to withdraw your coins before the end of the staking period you would not get the benefit of staking.

[KaliLinux]

I think I am going to go for it having had a look at their requirements there is no locked period which is pretty good.

the locked period is not the only thing you have to consider there are other things for example the 3rd party where you stake the coin is hacked then you will also lose your coins, why force yourself to stake the coin keeping it private is much safer where you have it control

I believe that can could happen sometimes however, that is why when it comes to staking you might want to do some checking before deciding on which platform you would stake your coins/tokens in. mycointainer Cold Staking & Delegations gives the option of "stake" delegating coins from your own wallet to any of the nodes without your coins leaving your wallet which I believe this method is safer for staking and whether you decide to stake your coins or not, whatever happens to the price of that coin will still affect your coin but as long as you have invested in the right project, I would rather stake my coins and make some more during the bear market waiting for the Bull season.

[fullhdpixel]

The fee is really on the higher side If you want to stake then you should go with £500 worth of Verasity so that you will gain a good number of coins through the staking and staking with fewer coins would not be a good idea. I don't like staking because of the rules of staking If you want to withdraw your coins before the end of the staking period you would not get the benefit of staking.

But, I think even if he stake with that said amount, there will still be no change in the fee. I don't know if what is that staking platform he is using now but it would be better if he can mention that site so that many of us here can avoid it.

We don't want our funds to get trapped, the same that happens with the OP but for the OP, you have no choice for now but to continue what you are doing there which is staking since pulling out your funds will give you nothing but a loss. Staking is mostly for those who have a patience to wait because it usually takes time for you to earn on using this method. If you want to earn in a quickest possible way then why not venture trading?

[RussianEnglishTranslation]

Hi,

Have just bought £100 worth of Verasity (VRA) which got me 24500 total.

I have just gone to withdraw this to stake elsewhere but noticed there is a fee of 1500 VRA.

The APY for staking this crypto is 18.25% - is this worth doing or due to the fee am I just better off holding?

I plan to hold for 18-24 months.

If anyone could advise on the above or on staking in general if it is worth it.

Thanks

For 4 months, the price of this coin has fallen 5 times and you want to stake it for 18% per annum. That's funny. It is better to try the same with Atom, Polkadot, Ethereum, these coins are much more reliable and stable.
https://www.stakingrewards.com/

I will take a look at this website. Was varasity the project by the economic guru Reggie? What happened to the project? I'm personally staking some Celo and ICP and getting 3.5% on the Celo (not very good) but 20% on the ICP. I'm glad I got in early on the ICP because the staking APY keeps dropping over time.

[Questat]

We don't want our funds to get trapped, the same that happens with the OP but for the OP, you have no choice for now but to continue what you are doing there which is staking since pulling out your funds will give you nothing but a loss. Staking is mostly for those who have a patience to wait because it usually takes time for you to earn on using this method. If you want to earn in a quickest possible way then why not venture trading?

That is one risk upon staking as we handed over our tokens to the exchange and whatever it happens to them, we don't have any control of it and do not even have the chance to get out funds from them especially when it was an exit scam. And even it was 1000%APY, as long as I am not sure about the project and the exchange as well, I couldn't make myself gamble. Well, it's for the OP now to decide after seeing our opinion - but I need for you to think it wisely and do base on what you understand.

[justdimin]

Have just bought £100 worth of Verasity (VRA) which got me 24500 total.

I have just gone to withdraw this to stake elsewhere but noticed there is a fee of 1500 VRA.

The APY for staking this crypto is 18.25% - is this worth doing or due to the fee am I just better off holding?

I disagree on the token itself. I mean what the hell is verasity. Now that I am checking it, it is barely in the top 400, why would you do that? If you really want to invest into something that would make you some profit, and you want to stake it at the same time, then why not go with cake? They have pure staking, not LP or anything, pure staking and you could make a lot of money from it as well when the time comes.

If VRA ever goes up, I believe that Cake would be going up at the same time as well. Or if you are not sure about that, go with ETH or BNB which both have staking features in Binance and you could make a little, but guaranteed income.

[JamesDaniel90]

Have just bought £100 worth of Verasity (VRA) which got me 24500 total.

I have just gone to withdraw this to stake elsewhere but noticed there is a fee of 1500 VRA.

The APY for staking this crypto is 18.25% - is this worth doing or due to the fee am I just better off holding?

I disagree on the token itself. I mean what the hell is verasity. Now that I am checking it, it is barely in the top 400, why would you do that? If you really want to invest into something that would make you some profit, and you want to stake it at the same time, then why not go with cake? They have pure staking, not LP or anything, pure staking and you could make a lot of money from it as well when the time comes.

If VRA ever goes up, I believe that Cake would be going up at the same time as well. Or if you are not sure about that, go with ETH or BNB which both have staking features in Binance and you could make a little, but guaranteed income.

I have only invested £100 - if it goes to zero then so be it.

But if it does a 100 x then it is well worth it - I think the metaverse will be massive in the next 3-5 years.

[Paul Pogba]

Hi,

Have just bought £100 worth of Verasity (VRA) which got me 24500 total.

I have just gone to withdraw this to stake elsewhere but noticed there is a fee of 1500 VRA.

The APY for staking this crypto is 18.25% - is this worth doing or due to the fee am I just better off holding?

I plan to hold for 18-24 months.

If anyone could advise on the above or on staking in general if it is worth it.

Thanks

After I experienced a case of google chrome metask being hacked and all the balances in the wallet including the one I saved for staking on Pancakeswap then I no longer want to staking on DEX, it's too risky, and I recommend staking on top exchanges that have a strong reputation and activate all features security.

[DanWalker]

Have just bought £100 worth of Verasity (VRA) which got me 24500 total.

I have just gone to withdraw this to stake elsewhere but noticed there is a fee of 1500 VRA.

The APY for staking this crypto is 18.25% - is this worth doing or due to the fee am I just better off holding?

I disagree on the token itself. I mean what the hell is verasity. Now that I am checking it, it is barely in the top 400, why would you do that? If you really want to invest into something that would make you some profit, and you want to stake it at the same time, then why not go with cake? They have pure staking, not LP or anything, pure staking and you could make a lot of money from it as well when the time comes.

If VRA ever goes up, I believe that Cake would be going up at the same time as well. Or if you are not sure about that, go with ETH or BNB which both have staking features in Binance and you could make a little, but guaranteed income.

No doubt, OP researched all APYs of Eth and Bnb, but since he is looking for a coin that offers more than high APY, he is aiming for VRA, which can generate huge returns in the future, such as x10 and x100. This is probably the reason why he chose VRA in the first place. With this option, it looks like the OP is gambling more willingly to take risks than to seriously invest for a guaranteed income.

[Bitcoin2009]

Staking is a good strategy to get profit and of course hold long term, currently I'm staking MATIC, TRON, CAKE and some other coins and I'm targeting for the long term, all staking of course has a risk that the coin sinks or becomes a scam, but in In life sometimes we have to dare to take risks to be able to change the future.

[JamesDaniel90]

Have just bought £100 worth of Verasity (VRA) which got me 24500 total.

I have just gone to withdraw this to stake elsewhere but noticed there is a fee of 1500 VRA.

The APY for staking this crypto is 18.25% - is this worth doing or due to the fee am I just better off holding?

I disagree on the token itself. I mean what the hell is verasity. Now that I am checking it, it is barely in the top 400, why would you do that? If you really want to invest into something that would make you some profit, and you want to stake it at the same time, then why not go with cake? They have pure staking, not LP or anything, pure staking and you could make a lot of money from it as well when the time comes.

If VRA ever goes up, I believe that Cake would be going up at the same time as well. Or if you are not sure about that, go with ETH or BNB which both have staking features in Binance and you could make a little, but guaranteed income.

No doubt, OP researched all APYs of Eth and Bnb, but since he is looking for a coin that offers more than high APY, he is aiming for VRA, which can generate huge returns in the future, such as x10 and x100. This is probably the reason why he chose VRA in the first place. With this option, it looks like the OP is gambling more willingly to take risks than to seriously invest for a guaranteed income.

Yes exactly that, i have not staked yet however as I am just holding for now as do not feel the amount I hold is worth staking for now after the fees you have to pay.

[Bttzed03]

~
Yes exactly that, i have not staked yet however as I am just holding for now as do not feel the amount I hold is worth staking for now after the fees you have to pay.

It's been a while since I last checked my account. I noticed they already give you the amount of earned VRA per day based on your holdings.

24,500 gives you around 12 VRA/day (360 per month) which means it will take you four months+ to reach the withdrawal fee required.

^ Figures doesn't look good for short term holding and you should probably decide if you want to add up or just switch to other coins/tokens. If you like VRA and plan on holding for more than four months, you might as well stake it now and add top up later.

[JamesDaniel90]

~
Yes exactly that, i have not staked yet however as I am just holding for now as do not feel the amount I hold is worth staking for now after the fees you have to pay.

It's been a while since I last checked my account. I noticed they already give you the amount of earned VRA per day based on your holdings.

24,500 gives you around 12 VRA/day (360 per month) which means it will take you four months+ to reach the withdrawal fee required.

^ Figures doesn't look good for short term holding and you should probably decide if you want to add up or just switch to other coins/tokens. If you like VRA and plan on holding for more than four months, you might as well stake it now and add top up later.

I have 36,500 VRA now (see post 15)

I havent really thought about VRA to be honest the last week or so on one hand I feel holding will be enough if it does do well next bull run but on the other If I am holding I might aswell stake to get more, I am just not sure about holding on their wallet and if it is worth doing so with the fees involved.

[Henrobakkara]

I think I am going to go for it having had a look at their requirements there is no locked period which is pretty good.

the locked period is not the only thing you have to consider there are other things for example the 3rd party where you stake the coin is hacked then you will also lose your coins, why force yourself to stake the coin keeping it private is much safer where you have it control

I believe that can could happen sometimes however, that is why when it comes to staking you might want to do some checking before deciding on which platform you would stake your coins/tokens in. mycointainer Cold Staking & Delegations gives the option of "stake" delegating coins from your own wallet to any of the nodes without your coins leaving your wallet which I believe this method is safer for staking and whether you decide to stake your coins or not, whatever happens to the price of that coin will still affect your coin but as long as you have invested in the right project, I would rather stake my coins and make some more during the bear market waiting for the Bull season.

Reading through some of these statements, I would rather go with the option of holding my coins in my wallet while I still have them staking somehow and I agree too that staking through the bear market is something I see myself doing instead of just Holding them in the wallet and not earning anything. I guess Individual investors know what's best for them and will take a proper step on this.

[blue_hurricanger]

Have just bought £100 worth of Verasity (VRA) which got me 24500 total.

I have just gone to withdraw this to stake elsewhere but noticed there is a fee of 1500 VRA.

The APY for staking this crypto is 18.25% - is this worth doing or due to the fee am I just better off holding?

I disagree on the token itself. I mean what the hell is verasity. Now that I am checking it, it is barely in the top 400, why would you do that? If you really want to invest into something that would make you some profit, and you want to stake it at the same time, then why not go with cake? They have pure staking, not LP or anything, pure staking and you could make a lot of money from it as well when the time comes.

If VRA ever goes up, I believe that Cake would be going up at the same time as well. Or if you are not sure about that, go with ETH or BNB which both have staking features in Binance and you could make a little, but guaranteed income.

I have only invested £100 - if it goes to zero then so be it.

But if it does a 100 x then it is well worth it - I think the metaverse will be massive in the next 3-5 years.

So you take your investment as a gamble then? Still, VRA isn't that reliable for your estimate for the next 3-5 years. Metaverse might be massive in the next 3-5 years but can VRA still exist after all those years for you to cash out? This is the main reason people stake with high-risk coins, they still want the best one so it isn't going to burst after just a few months or years.

[Bttzed03]

~
I have 36,500 VRA now (see post 15)

Even better. That shortens the time for earning the fees for withdrawal.

I havent really thought about VRA to be honest the last week or so on one hand I feel holding will be enough if it does do well next bull run but on the other If I am holding I might aswell stake to get more, I am just not sure about holding on their wallet and if it is worth doing so with the fees involved.

Just do a simple math:
10K earns you 5 a day.
36.5K earns you 17 or so a day.
89 days to earn ~1500 VRA.

It all boils down to how long you intend to hold. We are probably one or two years away from the next bullrun and, by that time, you'll earn more than enough to cover the fees (that's if you start staking those 36,500 VRAs now). Still, it's really up to you.

[JamesDaniel90]

~
I have 36,500 VRA now (see post 15)

Even better. That shortens the time for earning the fees for withdrawal.

I havent really thought about VRA to be honest the last week or so on one hand I feel holding will be enough if it does do well next bull run but on the other If I am holding I might aswell stake to get more, I am just not sure about holding on their wallet and if it is worth doing so with the fees involved.

Just do a simple math:
10K earns you 5 a day.
36.5K earns you 17 or so a day.
89 days to earn ~1500 VRA.

It all boils down to how long you intend to hold. We are probably one or two years away from the next bullrun and, by that time, you'll earn more than enough to cover the fees (that's if you start staking those 36,500 VRAs now). Still, it's really up to you.

I am going to wait for our next crash in the market which is hopefully soon so I can purchase more which will give me around 50,000 VRA which I can then stake for the long term.

VRA pumped 35% since I bought a few weeks ago, could have cashed out but I have left it and will just buy more when we have our next crash.

[bitbollo]

from my personal experience (I have staked several coins in the past)... I can tell you that when a high APY is provided there is always the concrete risk of "inflation" (likewise "extra" production of coins that is not absorbed by real use or by market conditions). This will results in a decline in market value! In practice, it is true that you get that staking percentage (you have more coins) but the economic total (equivalent in dollars or btc) practically remains unchanged if it does not decrease.
You can always hope for a brutal PUMP of the token in question but it is rare that such a phenomenon occurs (we are talking about a shit coin ... )

[JamesDaniel90]

from my personal experience (I have staked several coins in the past)... I can tell you that when a high APY is provided there is always the concrete risk of "inflation" (likewise "extra" production of coins that is not absorbed by real use or by market conditions). This will results in a decline in market value! In practice, it is true that you get that staking percentage (you have more coins) but the economic total (equivalent in dollars or btc) practically remains unchanged if it does not decrease.
You can always hope for a brutal PUMP of the token in question but it is rare that such a phenomenon occurs (we are talking about a shit coin ... )

I believe VRA will at least 10x from current price , some are saying 50x but lets say I settle for 10x.

As long as 10x happens in the future, say 1-2 years, it is worth staking while prices are low?

Is that not how it works? You would rather stake when price is low and has a lot of room to grow compared to staking when prices are high and likely to fall?