Would You Advise People To Stake?

[swogerino]

Personally I always stake at the beginning of the year and withdraw in July so I can go on vacation with some extra money.This is what I have done with Zilliqa which I staked in the beginning and got the total of them plus the staked rewards before going to holiday in this upcoming August,it means a good amount of money that you make just for leaving the coins around and since you will hodl anyway the coins you want to have it is a great idea and implementation if you stake your coins.I strongly support the staking of the favorite coins which can in turn give you some nice benefits during the year.

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[babygun]

I stake some coins in some places... why not? Crypto is full of good stuff and I think people should try it. Please don't go for some crazy high APY, it's usually some scam... but staking in some exchanges and wallets with some reasonable APY, and in my case in casinos too, is bringing some passive income and it's pretty safe, at least I didn't encounter any issues over the years. 

 

I agree with you iv4n; I don't really see any downside on the staking and it is a source of passive income, so why not profit from it? But as you say, avoid the super high APY as that is never sustainable in the long end and it will most likely be a scam.

[usekevin]

Staking of good coin always give the more profit,but you have to wait till get good profit.The staking of bitcoin,Ethereum and Usdt will give you good profit all the time.Don’t start to stake at the beginning,at first do trade with the good coin.Then get the profit from it,use that money to reinvest.Then increase your profit to the initial investment value.Now stage the profit money,then start to trade the money again.The staking must be made on the good coin and reputed project,then you get good returns.

[OgNasty]

I think if someone were asking me about staking I would ask them where the interest comes from. In 99% of the coins out there, they run a scheme where they inflate the price, then put in staking to get people to buy their coins at a high price in order to chase yield. In most cases though, the yield is a trap and your investment is the actual yield as original buyers cash out with huge gains.

[stafstor]

Personally I always stake at the beginning of the year and withdraw in July so I can go on vacation with some extra money.

Didn't you ever lose those "extra money" because the price of staked coins just fell?

[Mpamaegbu]

Staking bears more risk than ordinarily buying and hodling. "More" is the operative word in my last comment and that doesn't absolve hodling from any type of risk. Late last year or so, I had a bitter taste of what the consequences of staking were as the KCLP and Gzilla tokens I staked using DApp on Trust Wallet disappeared when the projects collapsed. However, I didn't have any issue while I staked some tokens on Binance like Shiba. Before that incident happened to me I used to think staking was just free reward and profit, no serious implications. That's not so. Anyone who isn't strong hearted to stomach losses shouldn't stake. It's as simple as that.

[Xal0lex]

Personally I always stake at the beginning of the year and withdraw in July so I can go on vacation with some extra money.This is what I have done with Zilliqa which I staked in the beginning and got the total of them plus the staked rewards before going to holiday in this upcoming August,it means a good amount of money that you make just for leaving the coins around and since you will hodl anyway the coins you want to have it is a great idea and implementation if you stake your coins.I strongly support the staking of the favorite coins which can in turn give you some nice benefits during the year.

It's a pretty good strategy if you buy a coin at the very beginning and immediately send it to staking. You get double income, both from token price growth and from staking. I like such staking, but I don't understand those stakers who buy coins of already released projects that have grown many times and try to steak them while these coins are in a bearish cycle. In such a case, the income from staking does not even cover the losses that the coin makes due to its decreasing value.

[cryptoaddictchie]

I like such staking, but I don't understand those stakers who buy coins of already released projects that have grown many times and try to steak them while these coins are in a bearish cycle. In such a case, the income from staking does not even cover the losses that the coin makes due to its decreasing value.

If they bought in bear market and then staked it. In the long run they can feel the gains of it especiallt if the one you bought is like - 90% down from its ATH. Im talkung about renounced project with a tendency to bounce back when bull market started again. Its a risk too but considering some % gain of them comparing to stablecoin which is quite below the inflation rate then its much more a chance to recover. Anyway I got your point about the potential decrease of value apparently, thats more better of staking than holding without gaining anything but hope when will it be going back to same value. Unlike while staking its technically holding while earning some and its helping you increase your asset bags.

[Xal0lex]

I like such staking, but I don't understand those stakers who buy coins of already released projects that have grown many times and try to steak them while these coins are in a bearish cycle. In such a case, the income from staking does not even cover the losses that the coin makes due to its decreasing value.

If they bought in bear market and then staked it. In the long run they can feel the gains of it especiallt if the one you bought is like - 90% down from its ATH. Im talkung about renounced project with a tendency to bounce back when bull market started again. Its a risk too but considering some % gain of them comparing to stablecoin which is quite below the inflation rate then its much more a chance to recover. Anyway I got your point about the potential decrease of value apparently, thats more better of staking than holding without gaining anything but hope when will it be going back to same value. Unlike while staking its technically holding while earning some and its helping you increase your asset bags.

Yes, this development has a place too, to buy a coin at the bottom of a bear market and then send it to staking until the next bull run. Except the problem is that after the bear market, most coins don't recover anymore and are forever left to trade at their bottom. Stakers are chasing high stakes, and well-known projects will never give such stakes. High rates are given by various new projects, which very often do not live more than 1 or 2 years on the market. After that their schedule resembles a descent down the mountain and oblivion at that point.

[masulum]

Didn't you ever lose those "extra money" because the price of staked coins just fell?

When the market conditions are bearish, the estimated value will decrease, but coin ownership will increase during staking. This means that when the coin's value returns to at least 50% towards its all-time high (ATH), the person will earn additional profit from the tokens/coins obtained through staking. Since staking is essentially passive income, even though the asset is currently down, with staking and the increase in assets, future profits will be as I explained.

NFA/DYOR/DWYOR

[I_RodimusPrime]

Why don't people just buy Cryptos that they can stake?

Because if the coin value is down to zero then no matter your APR is 18000%. Staking is good for coins/tokens that survive in the long run and hard market crashes. So please dyor when you stake new coins with higher interest rates always. 

[SUPERSAIAN]

Exchanges usually offer staking. If there are projects that you trust in the long term, you can also stake instead of increasing them by buying and selling, which is a good alternative. In the meantime, some coins can be staked in their own cold wallets and the reward amount can be a little higher, in addition, it is more comfortable because the wallet belongs to you anyway, it is useful to look at the coins you choose.

[bitbollo]

Not related to the coin you have mentioned in your topic, generally speaking a PoS its hard give strong/valuable dividend. At least for enough time to recover from initial investment.
Plus I have noted that once earned a percentage from staking, I lose the valute in the market like real inflation
Well, I can suggest just to make a research and found coins with expensive ICO or just... expensive masternodes...its a never ending history

[AmoreJaz]

Not related to the coin you have mentioned in your topic, generally speaking a PoS its hard give strong/valuable dividend. At least for enough time to recover from initial investment.
Plus I have noted that once earned a percentage from staking, I lose the valute in the market like real inflation
Well, I can suggest just to make a research and found coins with expensive ICO or just... expensive masternodes...its a never ending history

that's the dilemma of those stakers, the price of the coin when they bought may be higher and as time goes by, the value slowly decline. so whatever they earned from staking is usually worthless as it will only compensate with the declining value of the coin. hence, a lot already stopped staking most of these alts. lucky if you found a staking alt which is continuously increasing its value in the market. and that situation, rarely happens.
so i won't advise users to go to staking. way way back, this mode of earning coins was profitable, but today, very rare that a coin can be profitable in long term.