Is it wise to stake your crypto currency

[WalkerIVIV]

But for me, staking is not really worthy moreover if we only have small amount of the money. I ever calculated the profits to gain when staking for several.months - year. But the profits are still low because it is small amount. Moreover we cannot do anything to our cryptos during they are staked.

true sometime staking just isn't worth it mainly because the profit gained for staking even a year didn't show that much that I think even holding coin is definitely better than staking at this point, i'd say just find some good coin to hold and thats it no need for staking if the current rate of returns rather low.

[Psynthax]

Why not?
I think staking is fine even providing liquidity is also fine, so long it generates additional increase of value for you.
after all they are created for purpose that is for investment for select people out there, I think if it fits your need just stake it.

[gurunanakji777]

If someone plans to hold an asset for the long term, they can earn extra coins by staking. However, if someone is a trader, trading may be a better option than staking because staking requires selecting a time period and if one unstakes before the locking period, they may not gain any significant advantage. This is a disadvantage of staking. However, if someone is afraid of trading or considers it risky, staking can be a good option for gaining something.

[danherbias07]

I recommend to just using Trust Wallet as a temporary wallet if you are making a transaction. Don't use it as a wallet to keep your funds or do other activities such as staking. Look at it from a different perspective, to gain profits in a staking program means you will have to keep a lot of funds in a wallet which also means you are risking it two different ways. The staking and where you store it. Why not make the risk to just 1? Just the staking.
Use another wallet, a cold wallet to be precise, then look for ways to stake while you still have control.
Third-party applications will give you problems in the future because you will never know what could happen. Learn from the history of wallets that came out and are now gone.

[bittick]

If someone plans to hold an asset for the long term, they can earn extra coins by staking. However, if someone is a trader, trading may be a better option than staking because staking requires selecting a time period and if one unstakes before the locking period, they may not gain any significant advantage. This is a disadvantage of staking. However, if someone is afraid of trading or considers it risky, staking can be a good option for gaining something.

even staking is risky if you are trying to stake some new coins that offers massive apy i think the profit might be more than trading in some cases in which definitely means there's higher risk involved. it's just matter of which coin someone stake.

[DanWalker]

I recommend to just using Trust Wallet as a temporary wallet if you are making a transaction. Don't use it as a wallet to keep your funds or do other activities such as staking. Look at it from a different perspective, to gain profits in a staking program means you will have to keep a lot of funds in a wallet which also means you are risking it two different ways. The staking and where you store it. Why not make the risk to just 1? Just the staking.
Use another wallet, a cold wallet to be precise, then look for ways to stake while you still have control.
Third-party applications will give you problems in the future because you will never know what could happen. Learn from the history of wallets that came out and are now gone.

Trust Wallet is a non-custodial wallet, but unfortunately, it is a closed source, so we don't know what will happen to our assets. I also advise OP not to use it to store large amounts of assets. Mainly for staking, we need to put our assets on centralized exchanges, and this is too risky for the reward we get. In short, don't store too many assets with trustwallet wallets and centralized exchanges.

If we have the conditions, a hardware wallet is a perfect choice, otherwise, we can use Electrum to store bitcoins and Metamask for altcoins. Stay away from custodial wallets and exchange wallets.

[ethereumhunter]

I guess it's worth it if you have a very large amount of coins that you can get a return from staking it. You can also hope the return will be worth the time you wait for the coin to increase in price again. I've been trying to stake those coins in custodial wallets or even on Binance and I see it can be a kind of passive income in the long term. But to sell the result, I think it will wait for the increase in the price of the coin so that we can get big profits.

[DeathAngel]

Definitely not a good idea to stake your crypto. We have seen with recent events that if you leave your assets on a third party platform then you do not have full control. The reward from these staking schemes is not enough to risk your collateral. Just take your coins into self custody, it is not worth the risk.

[Andrija Branislav]

is it better to stake such a coin or hodl it

I think if you believe in the long-term potential of a particular cryptocurrency and believe in the underlying technology, staking can be a way to support the network and earn additional coinsand if you are risk averse and uncomfortable with the risks associated with staking, keeping cryptocurrency in a wallet or on an exchange can be a more conservative option.

[abel1337]

I think no, Once you stake your crypto, It will be on other custody and they will have a control with it. That's what I understand about staking. I had once tried staking and I'm on loss after it. The token I staked was dumped so hard that I lost majority of the value that I stake on that platform. To be honest I was blind by the APY that time that's why I rushed in staking my coins not knowing that it is a locked stacking. I was pretty ignorant at that time and I didn't do any research at all. After that I haven't tried any staking up to now. There are people who can get massive profits from staking their cryptocurrency but I think it needs a massive research especially on the kind of token you are staking.

[darewaller]

Staking cryptocurrency i think is a good way to earn passive income. But of course it is like any other investments, there is also risk involve in staking your crypto currencies. It is important to do your own research and study and understand the specific risks and rewards that is associated in staking your chosen crypto currency. Also ask and evaluate yourself if you can tolerate the risk that you are about to face in staking your crypto currencies before making any decision. Try to set also what is your investment goal.

I like the last part that you said which is to set a goal. This fits perfectly in staking because staking has a lock-in period. Once you commit your coins there, there is no way that you can pull them out just instantly because you change your mind. It happens because you don't have a clear plan. Speaking about the risk. The lock-in period is associated with it because the coins value can go down before we can be able to unstake them.

It's also known that putting money on centralized or custodial platform is risky but I think most staking business are done here. It does not totally mean that staking in a decentralized way is now 100% safe especially in the defi space as there are lots of hacks happening here.

[MIner1448]

Staking on your own crypto can be a profitable way to earn passive income in crypto, especially if you have a trusted wallet that offers this feature. However, like any investment, betting on your cryptocurrency has its risks, and deciding whether to bet on your coin depends on many factors, including your personal financial situation and goals.
Staking a coin can be beneficial if you plan to hold that coin for a long time and don't intend to sell it anytime soon. Coin grinding can help increase your cryptocurrency position, as you may be rewarded for holding your coin in a trusted wallet. However, you should understand that betting on your cryptocurrency may come with risks such as market price changes, volatility and technical issues that can cause you to lose your coin.

[Bolivar_Tony]

If you are holding your coin for long term and the wallet you are using to hold the coins supports staking, go ahead and do that, you run no risk staking your coins,
it will generate more coins for you, except you are day to day trader or medium term holder, that sells when prices surge, then it might not be ideal for you

[tvplus006]

...This fits perfectly in staking because staking has a lock-in period. Once you commit your coins there, there is no way that you can pull them out just instantly because you change your mind. It happens because you don't have a clear plan...

There are different types of staking, respectively, there is also a type in which you can pick up your coins at any time without paying a fine. This type of staking on the Binance exchange is called Indefinite staking (Flexible Staking) and it allows the user to stop participating in the validation process at any time.

[Kelvinid]

Why not?
I think staking is fine even providing liquidity is also fine, so long it generates additional increase of value for you.
after all they are created for purpose that is for investment for select people out there, I think if it fits your need just stake it.

It generates additional income for you which is the sole purpose of staking while waiting for the price to grow. This is what the exchanges promise to the holders. However, we are also taking high risks and the possibility of losing them all if ever the site where we use to stake collapses or a scam. In fact, so many cases happen like this which is why we should take caution where we stake, and much better if we choose reputable sites/exchanges instead of choosing new sites to lessen the risks. Leading crypto exchanges like Binance offered such features.

[albon]

I think it is wise to make a stake for your currencies, so what is the wisdom of leaving them idle in the wallet without getting some returns from them, even if they are small? The return on staking varies according to the type of currency, whether the stake is fixed term or flexible, the duration of times the currency will be staked, and your capital; among these factors, you can determine how much the ARP will be and the interest rate. BTW, You do not lose anything by staking your coins; only your coins are subject to price fluctuations if they are not stablecoins. Also, I advise you to choose the top exchange platforms, which may be that the stake ARP of the currencies listed on it is lower than other platforms, but it is safer, and you can't fall into any scam.

[ammo121810]

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 crypto currency can give us potential earnings. Using custodian wallet for staking can have some positive benefit such as convenience and it is easy to use. But it is also means that you are trusting the custodian wallet to stake your assets which involves additional risks. It is important to do your own research and choose a reputable custodian with high rates of reviews and a strong security and reliability. It is better to be in control over your private keys and you may use a hardware wallet for better security.

[goaldigger]

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 just planning to hold that coin/token for a longer time then staking will be fine, just know the APY if its worth it or not and make sure to compute if your capital will be enough for you to earn more. I do staking in Binance and I can say that its all good while the market is still in sideways trend. Custodian wallet can also be good when it comes to security, know what's token is available for staking and do some research as well about their future plans, that can be a big help.

[mich]

Well the way things have been happening in recent times with exchanges, I do not favor staking them any more. There was a time in the past in which I did stake some alt coins on Binance exchange but it made me nervous to do so.
I trust Binance not to scam me but not having those coins in my possession is just something that stays on your mind. Anything can happen at anytime.  That being said, I don’t think it’s a great arrangement for everyone because you’re taking on a great deal of risk.
There is some serious disadvantages of having my coins being tied up unnecessarily for so long.  I think for me it, for very small a portion of my portfolio it did work in the past but I don’t usually recommend others being tied up in this position for so long.

[rhodelmabanal]

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 stake it you will earn and if you hold it you will also earn if bull run start because most of the altcoins start rising when bull run begins, but it depends on your way of getting profit, most of the investors will never do staking because of the risk in connecting your wallet in the staking platform which is so risky, however if you have experienced staking on a legit platform then you can do the staking for good.