sbrys
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July 05, 2022, 06:16:50 PM |
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18% return feels also a bit like the too good to be true story…
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sana54210
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July 05, 2022, 06:55:52 PM |
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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.
I have to say I believe it is about the token/coin more than about the system. For some coins there are amazing mining returns, and for some there are amazing staking returns. The same could be said for the opposite, there are some with mining that makes no money, and some staking that makes no money. So, it is never about the system of it, it is all about the project. Are there projects out there who would be awesome to do as a staking method and make money? Of course there are some, and they are amazing and it would make sense to go with it. But, there are also some that suck big time and you shouldn't get close to it at all, which is the main problem.
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batang_bitcoin
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July 05, 2022, 10:49:39 PM |
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Right so I have just bought more VRA so I now have 36500 total (£150 investment).
After the withdrawal fee from Kucoin I will have 35000 to stake.
18.25% is the staking reward and there is no lock up period, I just have to wait 72 hours until I have access to my funds.
Can someone please confirm I have worked this out correctly ..
35000 VRA staked @ 18.25% = 6387.5 VRA per year (122.5 VRA per week).
If i have the above correct then I will get back my Kucoin withdrawal fee in 12 weeks which doesn't sound too bad.
Is this worth doing?
Yes, the calculation you've got is correct. If you're satisfied with that return for that token, then you let it stake there and just take your profits afterward. But, the thing in staking is despite the percentage for your return, the value of that token might go lower or higher. So that's the pros and cons that you have to take before doing it, lucky if the value goes higher. 18% return feels also a bit like the too good to be true story…
On mycointainer.com, they've got a few assets that are higher than 18%. And for other platforms, like pancakeswap, they've got assets for staking that are actually more than 18% APY and can reach more than 100+%.
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JamesDaniel90 (OP)
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July 06, 2022, 10:57:29 AM |
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Right so I have just bought more VRA so I now have 36500 total (£150 investment).
After the withdrawal fee from Kucoin I will have 35000 to stake.
18.25% is the staking reward and there is no lock up period, I just have to wait 72 hours until I have access to my funds.
Can someone please confirm I have worked this out correctly ..
35000 VRA staked @ 18.25% = 6387.5 VRA per year (122.5 VRA per week).
If i have the above correct then I will get back my Kucoin withdrawal fee in 12 weeks which doesn't sound too bad.
Is this worth doing?
Yes, the calculation you've got is correct. If you're satisfied with that return for that token, then you let it stake there and just take your profits afterward. But, the thing in staking is despite the percentage for your return, the value of that token might go lower or higher. So that's the pros and cons that you have to take before doing it, lucky if the value goes higher. 18% return feels also a bit like the too good to be true story…
On mycointainer.com, they've got a few assets that are higher than 18%. And for other platforms, like pancakeswap, they've got assets for staking that are actually more than 18% APY and can reach more than 100+%. We are in a bear market, yes prices will fall lower then they currently are but in the longer term they will rise so its good time to stake now no? With this crypto for example, their all time high is £0.06 and the price I bought at was £0.004. So to get back to all time high, which I think it will and more, i will 15x my investment. I am still 50/50 if I should stake as I read there is also a withdrawal fee when unstaking so sounds like a lot of fees to me, for now I am just holding.
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MAAManda
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July 06, 2022, 11:05:45 AM |
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@JamesDaniel90, If you want to keep your $VRA tokens staking for a period of 18 to 24 months, I think you better do it. The withdrawal fee of 1500 $VRA is cheap compared to the benefits you will get from staking $VRA. 24,5K $VRA - 1,5K $VRA = 23K $VRA, Staking: 23K $VRA * 0,1825 = 4197,5K $VRA. You will get 4796 $VRA, if you staking for at least 18 months, this 4796 $VRA includes withdrawal fee.
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serjent05
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July 06, 2022, 04:39:54 PM |
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Right so I have just bought more VRA so I now have 36500 total (£150 investment). After the withdrawal fee from Kucoin I will have 35000 to stake. 18.25% is the staking reward and there is no lock up period, I just have to wait 72 hours until I have access to my funds. Can someone please confirm I have worked this out correctly .. 35000 VRA staked @ 18.25% = 6387.5 VRA per year (122.5 VRA per week). If i have the above correct then I will get back my Kucoin withdrawal fee in 12 weeks which doesn't sound too bad.
Is this worth doing?
Given the calculation is correct, any positive outcome is worth doing. Though there is some concern about the interest rate. Is it fixed or does it adjust according to the volume of deposit put into that staking program? Since I saw some staking coins where it reduces the interest the more participants it got. I believe you better check this thing out.
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el kaka22
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July 06, 2022, 06:59:15 PM |
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I am damn sure that if you are not confident about the token you are staking itself, then it would be a hard situation. Yes, you can calculate it like that today, but are you 100% sure that in 18 months it is going to be like that?
For example, if you invest and stake a token that goes down so much that it turns out it was a scam and becomes zero, or happens to be like Luna, what are you going to do? This is why we should always be picking the coin itself, and not the mathematical calculation of what looks profitable. I have seen memecoisn with 5000% returns, do you really think that it would actually give me 5000% returns? Of course not, that is why pick the project, not the return.
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batang_bitcoin
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July 06, 2022, 09:08:49 PM |
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Yes, the calculation you've got is correct. If you're satisfied with that return for that token, then you let it stake there and just take your profits afterward. But, the thing in staking is despite the percentage for your return, the value of that token might go lower or higher. So that's the pros and cons that you have to take before doing it, lucky if the value goes higher. 18% return feels also a bit like the too good to be true story…
On mycointainer.com, they've got a few assets that are higher than 18%. And for other platforms, like pancakeswap, they've got assets for staking that are actually more than 18% APY and can reach more than 100+%. We are in a bear market, yes prices will fall lower then they currently are but in the longer term they will rise so its good time to stake now no? With this crypto for example, their all time high is £0.06 and the price I bought at was £0.004. So to get back to all time high, which I think it will and more, i will 15x my investment. I am still 50/50 if I should stake as I read there is also a withdrawal fee when unstaking so sounds like a lot of fees to me, for now I am just holding. Do what you think is favorable to you. Honestly, I've never thought of staking since 2018. If I've done that and just kept all of those profits there being continued in a stake, I'd probably have more than during the last bull run. It's a good choice if you know what you are up to and what you think is the right strategy for you to handle during this bear market. You choose what is best for you at this current time.
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OgNasty
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July 06, 2022, 09:11:52 PM |
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I read somewhere to make sure you know where the funds come from to pay you for staking. If you don't know where the funds come from to pay investors, then chances are that they're coming from people like you making the investment.
Staking is tempting because everyone wants passive income, but if the staking is just diluting your investment then it isn't going to be a positive thing for you.
In short, do your research, know where the profits are coming from that you're counting on when making your investment. That being said, I have recently staked mSAND in the Sandbox and really like what they're building over there.
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JamesDaniel90 (OP)
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July 06, 2022, 09:25:23 PM |
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I am damn sure that if you are not confident about the token you are staking itself, then it would be a hard situation. Yes, you can calculate it like that today, but are you 100% sure that in 18 months it is going to be like that?
For example, if you invest and stake a token that goes down so much that it turns out it was a scam and becomes zero, or happens to be like Luna, what are you going to do? This is why we should always be picking the coin itself, and not the mathematical calculation of what looks profitable. I have seen memecoisn with 5000% returns, do you really think that it would actually give me 5000% returns? Of course not, that is why pick the project, not the return.
If it goes to zero then i only lose the amount of money I put in to begin with and because I am getting in now at these very low prices, it is not much I am risking. If however it does a 20-50x from current price by 2024 which is possible, then I will be in the money if I stake for a while. The more I think about it the more staking sounds like it is worth the risk.
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Jody.Drummer
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July 06, 2022, 09:40:57 PM |
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In Vesting for multiple stages of withdrawals and futures only about 30% of the generated amount is really not a good solution for staking. If I were you, it's better not to use a party that doesn't guarantee you can withdraw the entire balance you bet. Plus it's a clear bear market for altcoins that will be hit even harder and you'll only lose more. Don't let the bear market force you to hold altcoins long term.
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zonefloor
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July 06, 2022, 09:54:44 PM |
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Staking operations are a very troublesome situation in this period. The reason I say this is because there are restrictions. Because when things go wrong, you can't withdraw your money before the day is up, as staking is based on locking logic on many platforms. As a matter of fact, when things go wrong for that project, you can suffer serious losses. But if there are no locks or restrictions, it might make sense. I suggest you do your staking with these in mind. In addition to this, you can also look at evmos transactions. While many cryptocurrencies are experiencing serious decreases, evmos is currently standing upright like a castle. The daily return is also very good.
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niceli
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July 06, 2022, 10:09:15 PM |
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I have to say its not the "ideal" situation to have staking as "inflation" causer to be honest. Mining and staking are the two methods where you create more coins and tokens, I never truly understood why we needed that. I get that we need to securely transfer money from one address to another, and mining and staking makes sure its a safe and secure transfer. But couldn't we find a better way? Why we print more into the market in order to that? It is dropping the value of it. In any case, shitty coins will have shitty staking returns, good ones will have good returns.
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Rufsilf
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July 06, 2022, 10:57:36 PM |
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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
These that you to consider upon staking, 1. The exchange you use - must be reputed 2. Term and condition - just choose short-term so you can withdraw immediately if you need or there is something happen with the exchange 3. Riks - you are handling over your coins to them (exchange) that is why you have to check their reputation prior to deposit 4. Never expect passive rewards - well, 18.25% is big enough compared to bank deposit But if you can manage trading or having a knowledge about it, I suggest not to stake.
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adzino
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July 07, 2022, 01:08:29 AM |
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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
Why don't you do the math and check for yourself if it is worth paying the withdrawal fee to stake it in your wallet or not. If you are willing to hold for 18 to 24 months, you will be receiving around around 4,000 to 4,500 verasity which is very much more than the withdrawal fee. So yeah, withdraw and then stake it. Even if the rewards might be small, it is still worth it moving the coins from the exchange to your wallet. Much safer, more control.
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minairia3
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July 07, 2022, 02:15:39 AM |
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I think staking is still worth it try but you need to search for the right coin or token. I do not know how about VRA but you should search for more information to know if that is worth it. It is better if staking VRA is not locked so you can sell it if the price increases, but if the coin is locked, you can not do anything if the term is not yet. And if Binance has VRA staking, you can use Binance to stake as I guess that is worth it.
Staking is really a good option for the current market, if you are holding tokens and don't have time to sell high instead of holding, you can stake to increase that number of tokens. I am not familiar with the coin that the OP is staking on, but it would be nice if it was on Binance. VRA is on Binance, so it is definitely a coin worth a look.
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ethereumhunter
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July 07, 2022, 05:47:19 AM |
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I think staking is still worth it try but you need to search for the right coin or token. I do not know how about VRA but you should search for more information to know if that is worth it. It is better if staking VRA is not locked so you can sell it if the price increases, but if the coin is locked, you can not do anything if the term is not yet. And if Binance has VRA staking, you can use Binance to stake as I guess that is worth it.
Staking is really a good option for the current market, if you are holding tokens and don't have time to sell high instead of holding, you can stake to increase that number of tokens. I am not familiar with the coin that the OP is staking on, but it would be nice if it was on Binance. VRA is on Binance, so it is definitely a coin worth a look. Yes, you are right. But we should accept that from the staking reward, we can not get a big amount if we only stake a small amount but that is still worth doing. If that is Binance, I will try it and so far, I have already staked some BNB and the coin are still working to give me a nice reward. Although VRA is on Binance, we should search for more details if VRA is really worth staking because not all staking coins or tokens are worth staking. It is better to stake a coin or token that has the potential to increase in the future.
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uneng
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July 07, 2022, 11:10:46 PM |
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I wouldn't trust in such interest rates being guaranteed. 5%-6% annually is usually what most investments can return, now imagine 18,5%. There is something catchy between the lines... Don't expect 18,5% profit, because when the interest is too high, it means the currency is going to lose a lot of value as the time goes by, so the interest received compensate the devaluation of the token. Similar to countries paying high interest on saving accounts annually, but with high inflation rates at same time. They give with one hand and take away with the other.
If besides the interest rate there is nothing else this cryptocurrency offers to you, I think it's better to not invest.
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Yamifoud
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July 07, 2022, 11:43:10 PM |
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You have to be careful with this quick rich scheme OP. You can't just disclose the idea and scam tricks that have been commonly used by scammers. It was best to invest and just hold your funds in this situation in that way, you can assure that your money is safe. I wouldn't trust in such interest rates being guaranteed. 5%-6% annually is usually what most investments can return, now imagine 18,5%. There is something catchy between the lines... Don't expect 18,5% profit, because when the interest is too high, it means the currency is going to lose a lot of value as the time goes by, so the interest received compensate the devaluation of the token. Similar to countries paying high interest on saving accounts annually, but with high inflation rates at same time. They give with one hand and take away with the other.
If besides the interest rate there is nothing else this cryptocurrency offers to you, I think it's better to not invest.
Honestly, 18.5% is very attractive, and greedy people will think I'll be earning huge if I invest and staked. But, they never think about the risk of such an idea, as it was likely impossible for the company to offer such huge rewards to the holder which in fact, they are just about to start, unless if they are a well-established company.
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Lagduf
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July 07, 2022, 11:47:28 PM |
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18% return feels also a bit like the too good to be true story…
that's for yearly return and that's still make sense compared when you are seeing a project that was offering 18% return in monthly basis. In my opinion if 18% for a year is still make sense from the various aspects. I meant you must also try to look at the fact. In my opinion if this can be seen from the various aspects. it was offering less than 1,8 percent return for a month which is still low compared when you are seeing farming on BSC or pancake.
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