Is it wise to stake your crypto currency

[naikturun]

decision to stake or hodl a cryptocurrency depends on your individual circumstances and goals. It may be helpful to consider the potential risks and rewards of each strategy, as well as the current market conditions and the outlook for the particular cryptocurrency you are considering.

[siniminomorocomunisakito]

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.

I personally want to say that what you said is the right decision about staking can provide a steady stream of passive income for holders of certain cryptocurrencies. On the other hand, staking comes with risks. For example, if the price of a cryptocurrency being staked drops significantly, the rewards gained from staking may not be enough to offset the loss in value. In addition, staking can be illiquid, meaning that someone may not be able to withdraw funds immediately if we need them. that is, not all cryptocurrencies are staked, so a user may have limited options depending on the assets he owns.

[Godday]

I am one of those people who likes to do staking. It has given me several advantages over the years. I think people choose to do staking because they have several considerations and goals. I'm the type of person who enjoys something long term. And staking is what I love about cryptocurrency.

[ethereumhunter]

I am one of those people who likes to do staking. It has given me several advantages over the years. I think people choose to do staking because they have several considerations and goals. I'm the type of person who enjoys something long term. And staking is what I love about cryptocurrency.

People have reasons why they choose staking in waiting for the market to improve or recover. But those guys have so many coins that they can get quite a return on it, so it's worth it for them to do it. But for people who don't have a large amount, it's better to just hold on to the coins, especially if they don't want to buy more when the price drops very deeply. Staking is good for getting more, but it takes patience to wait for the reward, and not many can do it.

[raidarksword]

Staking is the best way to make more of what you have especially you don't have the intentions to sell and while the market is still on bearish mode, then staking is the answer for it. I am staking my holdings for now hence bear market and I want to sell it when time comes like the bull market resumes.

[Rupok]

I use trust wallet, I haven't seen any incompatibility with trust wallet yet. Although the trust wallet is called a self-custodial wallet and many say the trust wallet user is not in direct control of their assets.Not really the best wallet to use for what they claim. But I think trust wallet is not for long term holding of any token or coin. If you want to hold tokens for a long time then I would suggest you look for alternative wallets.This is very logical The right decision about staking can provide a steady stream of passive income for holders of certain cryptocurrencies.

[wajik-tempe]

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 can be an effective technique to increase the returns you receive for your crypto holdings.
It might be a smart approach to earn extra benefits while supporting the network if you're a long-term investor who believes in the potential of a certain cryptocurrency. Holding it, on the other hand, could be a better choice if you'd rather have more control and freedom over the currency you own.

[carrie_white]

if you use a basic calculation, of course staking will be more profitable than just holding in the wallet, but of course all investments have risks, even staking, but by using a trusted staking exchange, at least you can reduce the risk

[DoublerHunter]

if you use a basic calculation, of course staking will be more profitable than just holding in the wallet, but of course all investments have risks, even staking, but by using a trusted staking exchange, at least you can reduce the risk

^ I rather choose to hold in my non-custodial wallet than staking of exchange, why?
Because in the first place, it is hard to find an exchange that you can entrust to hold with your fund in the specific time agreement.
One of your problems could be the exchange failure risk, staking on an exchange involves trusting the exchange to hold your assets and distribute your rewards. If the exchange fails or becomes insolvent, your staked assets could be lost or become inaccessible. Dont rely on the trusted exchange, they are still possible that can be hacked.

[KingsDen]

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

In the cryptocurrency industry, nothing is 100% safe.
If you are not in immediate need of your coins and you wish to stake it in the trust wallet, you are free to do so. Whether it's a closed or open source code wallet, I believe it to be secured and it have served the purpose for a long time. So you can safely take your coins and it will be there for you whenever you want them back. Trust wallet is not gonna have issues immediately you stake your coins there.

[Anonymous100]

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 the coins are owned to be held for the long term, it would be nice for us to do staking, especially in that wallet staking is available for certain coins. Unlike the coins that we use for daily trading. If we are staking, it will be troublesome when the market price is increasing. Staking will provide benefits if done for the long term.

[Ziskinberg]

if you use a basic calculation, of course staking will be more profitable than just holding in the wallet, but of course all investments have risks, even staking, but by using a trusted staking exchange, at least you can reduce the risk

^ I rather choose to hold in my non-custodial wallet than staking of exchange, why?
Because in the first place, it is hard to find an exchange that you can entrust to hold with your fund in the specific time agreement.
One of your problems could be the exchange failure risk, staking on an exchange involves trusting the exchange to hold your assets and distribute your rewards. If the exchange fails or becomes insolvent, your staked assets could be lost or become inaccessible. Dont rely on the trusted exchange, they are still possible that can be hacked.

Not all the case but that is still possible in today's situation where hackers are too aggressive. Honestly, I've tried staking before but sadly, I feel very uncomfortable thinking that my funds are in their hands. Well, the good thing is that it was not a long-term agreement which still make me withdraw it and get back my funds. Therefore, I would say that if we are going to decide to stake, better choose the option where we can withdraw our funds anytime, not the option where it was lockin for a certain period of months or years. And most of all, better not to do this if you never feel comfortable.

[Magic-Money]

To stake your crypto coin is determined by the atmosphere of the coin, which you need to calculate the profits return after staking and also check the price movements in the market and also check the stake period and can be considered as a wise investors.

[justdimin]

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.

Depends on where you are staking, there are decentralized staking around as well, and if you are doing that then you are not losing your money. Sure the income may not come anymore and that is a possibility, but the main money that you put will always be protected with the decentralized ones and that should be considered a benefit.

For example if you end up with something like pancakeswap, using cake to stake will not be lost, you could put it on staking and even at the worst case the whole system crashes, you will be able to withdraw your cake as it is, and that won't be an issue, the only issue would be if it crashes there won't be any value obviously, but it won't be stolen and it is not at the hands of anyone else. So if you are worried, use decentralized ones.

[fvb]

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 think that this is a completely correct and reasonable decision to bet on your tokens and receive a percentage of your cryptocurrency. Especially if this happens in your wallet, and not on the exchange, for example. Tokens are with you and you get profit from it and you can use the assets at your discretion at any time

[hamba laeh]

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

In my opinion, it is very wise if you are staking coins that you have rather than holding them for a long time, so it is more productive if you are staking coins. but if you want to stake coins then I suggest looking for a site that provides bigger profits. because according to my knowledge, to stake coins in trustwallet does not provide high profits.because many marketplaces provide stake coins.

[Yatsan]

Depends on the project for sure. Staking has its risk of being squeezed between market price volatility. There are staking wherein an investor won't br ablr to pull out his stakes for a period of time so imagine if a market crash occur during that period; the only thing you could do is to wait for things to recover. But staking on the other hand is a good thing to do especially if the project has a good platform such as with Binance launchpads, to give you an example. Most of the release of their launchpads are successful creating profit from staking into it. Ofcourse not all projects would be resulting to something positive, that is the risk already. It'll now depend on what type of an investor you are; short term or long term.

[bitkanu]

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 think that this is a completely correct and reasonable decision to bet on your tokens and receive a percentage of your cryptocurrency. Especially if this happens in your wallet, and not on the exchange, for example. Tokens are with you and you get profit from it and you can use the assets at your discretion at any time

only if don't get eaten by the volatility, many coins are always offering good APY because they know their coin value could change every time drastically, so one should also know the fundamental of the coin they staked.

[tygeade]

if you want to stake coins then I suggest looking for a site that provides bigger profits. because according to my knowledge, to stake coins in trustwallet does not provide high profits.

This is true but depends on the coins/tokens that you are staking them. The idea of staking them instead of just holding them is definitely better idea, why would you want to have the same thing with same amount when you could have more of that thing when you are staking.

But, this depends on the platform you are staking obviously, if you send your money to a shady place that scams you in the end, then it turns out staking it was a wrong move instead of just holding it. But, if you can pick a good token and a good platform to stake that, then you are going to definitely make more money than a person who only holds it. The key here is the platform you stake on, so pick one that you can trust and plenty of people already trusts and make sure you do not lose your money.

[mich]

Well this is just 1 more reason why I do not like to stake my coins anymore. If I want to stake my coins on the exchange, I do not want there to be such delays for getting the rewards from staking them.

Coinbase has paused Ethereum staking rewards withdrawals for up to 3 days. https://finance.yahoo.com/news/coinbase-pauses-eth-staking-reward-205728999.html