Is it wise to stake your crypto currency

[TheUltraElite]

In most custodian wallets like trust wallet staking is available for most crypto currencies including trx.is it better to stake such a coin or hodl it

I would personally never stake any coin. You can never trust anybody with your coins and when you need those coins you might get into problems. Why take those risks when you could keep the coins in your wallet ready to spend or save.

Don't go into the greed of making money just by staking, when a certain website scams or shut down you will never know. There have been so many exchanges getting shut down like this and people still don't learn their lesson.

[bettercrypto]

In most custodian wallets like trust wallet staking is available for most crypto currencies including trx.is it better to stake such a coin or hodl it

This is just my opinion and perspective, if you hold Trx it's just stuck in your wallet that doesn't grow with each passing day. It's better and better to just put it in staking.

        In staking, if we look at it, it is almost as if you are also holding a coin for the long term. The only difference is that you have a profit everyday compared to just holding the trx which does not give you a profit every day in your wallet.

[Pierre 2]

Its very hard for me to trust any of those staking options out there except natives. Trust wallet staking is something I could consider with low amount of coins, probably not something more than 200 dollars. I think best thing is to do there is buying a ledger cold wallet and staking through it. Options on ledger live's staking are very limited but someone holding altcoins would prefer to stake coins like ethereum, polkadot, aptos etc anyways. Proof of stake coins are far easy to stake and I favor them over any other staking methods personally. I will stake ethereum for next bull run.

[Doan9269]

In most custodian wallets like trust wallet staking is available for most crypto currencies including trx.is it better to stake such a coin or hodl it

Why should you go for a custodial wallet when you can easilyake use of a non custodial wallet that gives you control over your financial assets, if you already knows about this then still decides in using them, then always stand the chance of embracing every outcomes that may follows your decision, such could be the type that would restrict you from using your asset anytime the needs arises or got hacked when their system get attacked and left you with no recoverable seeds.

[axxo]

Staking crypto currencies can be a wise decision, but still it depends on your risk tolerance, the type of currency that you are going to stake and your investment goals. Staking is holding of cryptocurrency in a wallet or in a platform and earning rewards for helping to secure the network. Staking benefits includes earning passive income, which you can earn rewards in the form of additional coins without trading your coins. Staking also helps to secure the network by giving incentives to users who hold and stake their coins. Staking has also risk which is example possibility of losing your staked coins if the network was attacked or you violate terms and agreement of staking.

[pantek talacuik]

Staking crypto currencies can be a wise decision, but still it depends on your risk tolerance, the type of currency that you are going to stake and your investment goals. Staking is holding of cryptocurrency in a wallet or in a platform and earning rewards for helping to secure the network. Staking benefits includes earning passive income, which you can earn rewards in the form of additional coins without trading your coins. Staking also helps to secure the network by giving incentives to users who hold and stake their coins. Staking has also risk which is example possibility of losing your staked coins if the network was attacked or you violate terms and agreement of staking.

it depends on you yourself to be sure that the personal money you have will become a steady income later. but you should continue to analyze the things you have done. this is not so easy to explain and before all you feel it will be easy. The bigger your investment, the bigger your profit level.

[Fredomago]

Staking crypto currencies can be a wise decision, but still it depends on your risk tolerance, the type of currency that you are going to stake and your investment goals. Staking is holding of cryptocurrency in a wallet or in a platform and earning rewards for helping to secure the network. Staking benefits includes earning passive income, which you can earn rewards in the form of additional coins without trading your coins. Staking also helps to secure the network by giving incentives to users who hold and stake their coins. Staking has also risk which is example possibility of losing your staked coins if the network was attacked or you violate terms and agreement of staking.

By providing this information you are giving some hints as investors needs to understand the full concept of staking, there are both risk and rewards and the chance of having passive income is one of the factor why staking is something that you will consider along the way, but there's always knowledge that needed to have before taking anything or deciding to what particular investment/staking to take.

It's wise if you know whether to take a long-run or a short-term stake as the possible benefits depend on how you fully recognized the opportunities to earn decently.

[jostorres]

In most custodian wallets like trust wallet staking is available for most crypto currencies including trx.is it better to stake such a coin or hodl it

I would personally never stake any coin. You can never trust anybody with your coins and when you need those coins you might get into problems. Why take those risks when you could keep the coins in your wallet ready to spend or save.

Don't go into the greed of making money just by staking, when a certain website scams or shut down you will never know. There have been so many exchanges getting shut down like this and people still don't learn their lesson.

And Staking isn't that profitable too, the tokens or coins that are trusted and deserve holding would barely provide you with a high APR which isn't worth it, and if a token or a platform is providing a very high APR for a certain token or a coin, that cannot be trusted or chances are that if you purchase and stake that token, it will most likely lose value by the time your tokens are released from the pool.

If someone has tokens or coins that are worth more than a few hundred dollars, it is much better if they trade with that money instead of staking them and waiting to get very tiny amounts of interest every day for a year or so.

[Doan9269]

it depends on you yourself to be sure that the personal money you have will become a steady income later. but you should continue to analyze the things you have done. this is not so easy to explain and before all you feel it will be easy. The bigger your investment, the bigger your profit level.

Everyone may have their own personal reasons for staking their cryptocurrency but we must also considers the consequences in doing this, it is believed that everything that have an advantage will sure have it's disadvantages no matter how small, there are may cryptocurrencies one can stake and make more or end up loosing more, but the particular decision we are making on that desired coin we want to stake is very important, it must be something worth of value that cannot disappoints in future and a good example is bitcoin and few altcoins.

[BobK71]

Staking crypto currencies can be a wise decision, but still it depends on your risk tolerance, the type of currency that you are going to stake and your investment goals. Staking is holding of cryptocurrency in a wallet or in a platform and earning rewards for helping to secure the network. Staking benefits includes earning passive income, which you can earn rewards in the form of additional coins without trading your coins. Staking also helps to secure the network by giving incentives to users who hold and stake their coins. Staking has also risk which is example possibility of losing your staked coins if the network was attacked or you violate terms and agreement of staking.

it depends on you yourself to be sure that the personal money you have will become a steady income later. but you should continue to analyze the things you have done. this is not so easy to explain and before all you feel it will be easy. The bigger your investment, the bigger your profit level.

There are many of us who are so interested to buy bitcoin in the beginning but when the bearish market stay long, the aggravation slowly begins to decrease. And at once time some investors could not hold BTC even by trying hard. But the basic thing is that if you want to benefit from the BTC, you have to hold on until you are able to get that profit. Although it is easy to purchase Bitcoin but very difficult to hold it. So we should invest the amount of money that can worthy for the long term.

[fzkto]

it depends on you yourself to be sure that the personal money you have will become a steady income later. but you should continue to analyze the things you have done. this is not so easy to explain and before all you feel it will be easy. The bigger your investment, the bigger your profit level.

Everyone may have their own personal reasons for staking their cryptocurrency but we must also considers the consequences in doing this, it is believed that everything that have an advantage will sure have it's disadvantages no matter how small, there are may cryptocurrencies one can stake and make more or end up loosing more, but the particular decision we are making on that desired coin we want to stake is very important, it must be something worth of value that cannot disappoints in future and a good example is bitcoin and few altcoins.

I don't know of any service where you can safely delegate your bitcoin to make a profit. In my opinion it's not a good idea to trust your money to a third party. As for altcoins with pos algorithm, eth is probably the most profitable and safety, but you need a lot of capital to make profit. All other altcoins fall in value and the profits on staking will be negative in the future.

[dlightag]

They are many ways to hold your cryptocurrency assets,  for a long term yield interest, while holding it and is also advisable to stake your crypto to additional numbers of value through APR Stake as time goes on and added double advantages as a long term holding, Therefore is wise decision to stake your crypto coin.

[JayTrain]

In most custodian wallets like trust wallet staking is available for most crypto currencies including trx.is it better to stake such a coin or hodl it

The choice between staking and hodling a cryptocurrency like TRX depends on your investment goals. Staking offers passive income through network participation, while hodling focuses on long-term price appreciation. Consider researching the rewards and risks associated with each option before deciding.

[Hypnosis00]

Its very hard for me to trust any of those staking options out there except natives. Trust wallet staking is something I could consider with low amount of coins, probably not something more than 200 dollars. I think best thing is to do there is buying a ledger cold wallet and staking through it. Options on ledger live's staking are very limited but someone holding altcoins would prefer to stake coins like ethereum, polkadot, aptos etc anyways. Proof of stake coins are far easy to stake and I favor them over any other staking methods personally. I will stake ethereum for next bull run.

I've got the point when staking as it needs trust as well. And it is very important that OP must know the risk and the consequences that might he encounter from staking, especially for new exchanges. But if he uses a known and reputable exchange like Binance, that seems to lessen the risk. In fact, many investors are doing this and they are not complaining about the loss of their funds so we can say that it was safe. But yes, it was safer if we take care of our funds personally, and besides, staking never gives us a huge percentage of returns.

[Rengga Jati]

And Staking isn't that profitable too, the tokens or coins that are trusted and deserve holding would barely provide you with a high APR which isn't worth it, and if a token or a platform is providing a very high APR for a certain token or a coin, that cannot be trusted or chances are that if you purchase and stake that token, it will most likely lose value by the time your tokens are released from the pool.

I also do think so. I don't think that staking is really profitable for us, especially with small amount of cryptocurrency that we have. We may only make it some dollars in certain months. Moreover commonly staking will need certain times to join, longer time will give better earning. But once more, the profits are not as high as we expect. I ever read about high APY of staking in some platforms, but they are not really popular platforms, so this is too risky to put and trust our coins to them. I persoanlly still prefer to hold my coins because of the smalll amount only and because of some considerations that staking.

[LogitechMouse]

In most custodian wallets like trust wallet staking is available for most crypto currencies including trx.is it better to stake such a coin or hodl it

I didn't try to use Trust Wallet for staking, and TBH I'm not using them at all, so I don't know if it's a good thing to stake your cryptocurrencies there.

Re: Is it wise to stake your crypto currency

One thing to consider when you are staking is the risk. You might've earning some coins from staking, but there's a chance that the total value of that coins that you got from staking is lower than the total amount of losses that the coin has made thus, making you loss money still.

I've been staking Cardano for quite some time already, but still I will not say that it's wise to stake altcoins especially if you aren't that knowledgeable to it. I can say that I'm still in profit even after the bear market because I bought it way below the bottom price last year

There are some staking coins that has their own application, or software that have been made by the company in order for the holder to stake it on that app. As for Cardano, I've been staking it on Daedalus which they created, so that it would be safer compare to if I choose to stake it in Binance or whatever platform it is. Is staking profitable? Yes, but it depends on how long you will hold that coins. There are some coins especially those top altcoins who are pumping hard when the bull market comes. That's the time where you can profit the most because you can sell all the coins that you staked plus the total coins that you've got from staking to earn that profit. On the other hand, if you only staked for months only, it will not be profitable at all.

[kevinzxz]

In most custodian wallets like trust wallet staking is available for most crypto currencies including trx.is it better to stake such a coin or hodl it

if you are investing for the long term, then staking is the right choice, because it can help you to increase the number of your coin that you invest, but if you are investing for the short term or trading, then my advice is that you better not do staking, because if the price of coin that you invest has increased very high, then you can't sell it right away to take profit, so it's better for you to just hold it in your wallet and not staking it.

[TheUltraElite]

And Staking isn't that profitable too, the tokens or coins that are trusted and deserve holding would barely provide you with a high APR which isn't worth it, and if a token or a platform is providing a very high APR for a certain token or a coin, that cannot be trusted or chances are that if you purchase and stake that token, it will most likely lose value by the time your tokens are released from the pool.

The trust issue is real here and should indeed be asked by every trader because of the number of endless scams and rugpulls we find everyday. Staking on a wallet which is not under our control can shut down all of a sudden and we would essentially lose access to those coins. Like we say, not our keys, not our coins.

If someone has tokens or coins that are worth more than a few hundred dollars, it is much better if they trade with that money instead of staking them and waiting to get very tiny amounts of interest every day for a year or so.

Definitely better to trade on those coins rather than waste your time on staking. You would be making good returns and cycling those shitcoins over time as compared to being stuck on a single place.

I could compare the bankroll investments that some gambling sites offered at one to staking. But they were far better than shitcoins.

[terencio]

Staking and hodling are different ways of investing in crypto. Staking gives you income, but hodling gives you potential growth. Choose what suits you best.

[barlo357]

In most custodian wallets like trust wallet staking is available for most crypto currencies including trx.is it better to stake such a coin or hodl it

If you want passive income, then stake it. The only risk is that when the value of the coin you stake becomes lower than the price you bought. Also, please do a proper planning when locking it in how many days and don't all-in on a single coin.