Is it wise to stake your crypto currency

[Crypt jnr]

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

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[Nwada001]

I have learned to use the word self-custodial wallet instead of non-custodial wallet since users are directly in control of their assets, which makes it something personal.

Trust wallet is said to be a self-custodial wallet, but I have also learned in this forum that they are not open source, which means it's not really the best wallet to use. Why do you store your crypto in Trust wallet in the first place? Having a staking option simply means they will want you to give away control of your assets and hand them over to them, promising you a little APR, which you will get when you unstake your coins or tokens.

I don't actually know the best multi-wallet out there since you are talking about staking coins. It's probably not a Bitcoin coin; it should be some kind of altcoin. I guess Metamask is safer than Trustwallet, so you can use Metamask instead and use their staking option for coins that allow staking. But I will also advise you to do your own research.

Since this is not entirely about Bitcoin, I will also advise you to move this topic over to the altcoin discussion.

[NeuroticFish]

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

For start, it's not wise to keep your bitcoins in others' custody.
And without that there's no staking.

So the answer is: no. The custodian businesses are not regulated enough, they've not properly insured and the history shows that the real risk they transfer to their customers is far too big compared to the returns.
And since just keeping/holding bitcoin tends to give very nice returns over long enough periods of time... why taking unnecessary risks?

[Cantsay]

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

First of all, I think this post would fit better in the altcoin discussion board as bitcoin has nothing to do with staking because it's PoW and not PoS.

Secondly, Trust wallet is not a custodial wallet it's a non-custodial wallet or as @Nwada001 said a self-custodial wallet although it's closed sourced; this is a proof that you need more studies to do on the types of wallet that we have so that you won't end up storing your coins in an exchange such as Binance,kucoin and the rest. [General] Bitcoin Wallets - Which, what, why?

[o48o]

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

For start, it's not wise to keep your bitcoins in others' custody.
And without that there's no staking.

So the answer is: no. The custodian businesses are not regulated enough, they've not properly insured and the history shows that the real risk they transfer to their customers is far too big compared to the returns.
And since just keeping/holding bitcoin tends to give very nice returns over long enough periods of time... why taking unnecessary risks?

Op wasn't talking about bitcoins, and yes there's staking without third party sites. In fact most of the third party sites doesn't offer real staking. They just call it staking. It isn't staking as participating to consensus. And Trust wallet, that OP was talking about is self-custody wallet.

But my answer to OP would be that if you can stake by yourself (meaning that you have private key to the wallet you are staking), i can't see any reason why shouldn't you stake your coins.

[BitcoinPanther]

Staking is good to get profit especially when the person does not know how to trade.  Staking is like taking passive income while we are holding the cryptocurrency so it is one way of getting profit and taking advantage of the idle times while we are waiting for the bull run. 

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

For start, it's not wise to keep your bitcoins in others' custody.
And without that there's no staking.

So the answer is: no. The custodian businesses are not regulated enough, they've not properly insured and the history shows that the real risk they transfer to their customers is far too big compared to the returns.
And since just keeping/holding bitcoin tends to give very nice returns over long enough periods of time... why taking unnecessary risks?

Op wasn't talking about bitcoins, and yes there's staking without third party sites. In fact most of the third party sites doesn't offer real staking. They just call it staking. It isn't staking as participating to consensus. And Trust wallet, that OP was talking about is self-custody wallet.

Proof of stake coins can be staked without third party sites , it can mint new coins just by sitting idly on your own wallet.  This was originally done even before these staking programs are indtroduced where you need to deposit your token to a site and get rewards based on the amount you deposit on the site.

But my answer to OP would be that if you can stake by yourself (meaning that you have private key to the wallet you are staking), i can't see any reason why shouldn't you stake your coins.

I would also suggest to stake the token by yourself if it is possible.  It is always reaassuring if we have the control over our tokens than depositing it on the their party site and let them manage our coins for staking.

[jossiel]

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 it's from a custodial wallet, I wouldn't stake there and much better to just hold it. I've been from there for so many years to analyzing if it's okay to hold it.

Nothing is wrong with holding if you don't trust the wallet because if it's a custodial, you are aware that they won't give you the private keys.

And just take the profit from holding it but if you think that you've got no problem staking it from that wallet, your decision follows.

[rahulzx]

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

decision should be take after proper research, there are lots of previous examples that fail the whole projects after listing on market, so that staking has risk to be fail. However reputed organizations back to these projects when they release for staking, that would be make confidence to the investors to stake their stablecoins on top of staking coin.

[timoshani]

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

Staking, in my opinion, should be welcomed. In addition to a certain ROI, it can bring the opportunity to participate in retrodrope. I, for example, make staking of the STORMX through the corresponding application on Android

[Iadegbola34]

Staking a cryptocurrency can offer potential rewards, but it also involves locking up your funds for a period of time. On the other hand, hodling a cryptocurrency allows for more flexibility in terms of buying and selling. Ultimately, the decision between staking and hodling depends on individual investment goals and risk tolerance.

[Ojima-ojo]

Staking is most profitable to those that have high volume of liquidity of the staked coins, but then that also increases your risk level, e.g staking income is calculated based on the amount you starched away locked with a third party which makes your invested amount out of your control,  which means there could be a pos you lose all the coins to the third party in the quest to gian high staking returned.

Instead of holding your coins in your wallet that gives you control over your funds and coins at all times.

So to me, staking is profitable but with a high risk, of possible loss of the entire investment to a third party who has control of you coins and wallets.

[maydna]

Wise or not, it will come back to you because you are the one who will decide.

But for me, it can be done, but you have to be careful and make sure that everything is safe. Before starting, you should be able to do research on which wallets are safe for staking. It is also to find out whether it is worth staking, which requires many coins to get many rewards. If it's not worth it, you don't need to do staking; just hold the coins in your wallet.

[Questat]

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'm not going to say that it was a better option but staking is another way of earning some profit than holding. However, the use of the Trust Wallet when staking it increased the risk of losing your funds forever. If you can afford to do it, that was your choice but if I were you, better to use another platform that you really see it can really be trusted to safeguard your funds or else, just keep it in your personal wallet.

[ololajulo]

When considering staking, I will always take into account the duration of staking, the percentage of rewards, and the ability to unstake at any time. It's important to note that higher rewards can potentially impact the token and its long-term price. Additionally, the inability to unstake at any time may hinder the ability to sell the tokens in the event of an unexpected price surge. Therefore, a shorter duration for unstaking would be the most suitable option if it is permitted.

[Yamane_Keto]

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

Staking is not linked to your wallet, meaning that if you move your coin from one wallet to another, you will enjoy this feature, but rather it is linked to the currency. If it works with the Proof of Stake algorithm, then any wallet that supports staking will be sufficient to fulfill the purpose, otherwise you risk your money with a third party, that third party manages it in exchange for giving you a fixed return.

It is closer to what happens in bank deposits, but here there are no regulators that guarantee your assets.

instead of trust wallet https://www.stakingrewards.com is the best option and binance staking is the worst option

[sheenshane]

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 problem is, which exchange that you can potentially entrust your fund to hold long term?
You're entrusting your funds to a third-party which which means you're giving up control over your assets and relying on the exchange to properly secure and manage them.  If the exchange is hacked or goes bankrupt, you could lose your staked funds and any rewards earned.

In fact, as of now, custodial exchanges typically have strict rules and limitations on staking, such as minimum staking amounts and lockup periods.  This can limit your control over your staked assets and also custodial exchanges may also have restrictions on withdrawing your staked funds, which can be a disadvantage if you need to access your funds quickly.

IMO, it isn't that wise, remember the golden rule.  Not your keys, not your coins.

[TastyChillySauce00]

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

Stake it if you are feeling it's safe and if you are feeling unsafe and then never try to stake your coins. it's caused by you have needed to deposit your money to the custodian staking address. You will not be owning your own coin. This was making yourself in a difficult situation right now.

Think about that. All possibilities can happen anytime. You can try to decide based on what you have been researching before.

[crwth]

If you don't have anything to do with your crypto, like you don't need to convert it immediately, buying more and staking it is okay. Earning more wouldn't hurt you and it's important that the coin that is trying to make money the right way and has researched this that it's correct and right.

It's always best to practice that it's your own custody and not on CEXs or something but it's definitely easier.

[Desmong]

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

It is not all coin that are available to stake but if we don't have anything to do with our crypto for now, we can stake it if we have the opportunity to stake them so we can earn as long as we are ready to stake it. Cryptocurrency are good for staking if we know a platform where we can stake it and earn some good profits as a trader.

[Wexnident]

I guess it depends? I mostly don't trust it, but for some minor coins I don't particularly mind staking them, specifically when the losses I'd incur if things ever go haywire were really low. If it were on coins that I have big investments like Bitcoin though, I'd never go through staking them, way too big of a loss if it ever went under.

Plus, just holding coins most of the time generate profit already anyway, so I'm completely fine with risking it that way instead of leaving it at the hands of others.