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Author Topic: Passively earning in crypto without trading.  (Read 884 times)
Franctoshi
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December 09, 2024, 12:57:42 PM
 #41

When I tried out this staking of a thing the return wasn't much and with another one I had a bad experience with, on the other hand, I lost money staking my crypto and you should be caution about staking because most of the staking are also offered by this centralized exchanges and that involves you storing your cryptos in those platforms, which you don't have maximum control,  I joined one stake program,  stake when the coin was high around $165 in price (1.5) of that coin imagine before the time that my crypto became unlocked, the price has fallen to $126 ,whereas the profit I made was not way near what I lost.

 
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December 09, 2024, 01:39:35 PM
 #42

When I tried out this staking of a thing the return wasn't much and with another one I had a bad experience with, on the other hand, I lost money staking my crypto and you should be caution about staking because most of the staking are also offered by this centralized exchanges and that involves you storing your cryptos in those platforms, which you don't have maximum control,  I joined one stake program,  stake when the coin was high around $165 in price (1.5) of that coin imagine before the time that my crypto became unlocked, the price has fallen to $126 ,whereas the profit I made was not way near what I lost.
Staking is not the problem because it do come with reward for staking, but where are you staking your coin into is the main problem because just as you said, they are mostly centralized platforms that cannot be fully trusted.
And one disadvantage of staking is when you stake and the market is bullish, you will be willing to sell your coins while it will be locked in any platform you staked them until the agreed duration, and mostly by then, you would have missing an opportunity which the staking reward cannot give you that is why I personally don’t believe in staking coins unless on airdrop or test net platforms that I know I am looking for extra rewards letter.

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knowngunman
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December 09, 2024, 02:37:02 PM
 #43

Staking your crypto can help you earn a continual source of income, and that can be especially advantageous if you’re a long-term buy-and-hold investor or looking to stack up some coins. The rewards vary from coin-to-coin, but those for more speculative coins tend to be higher.

Yeah, staking can help you earn additional coins but do you also consider the implications? Aside the high risk involved, I don't see anything impressive about staking because the return is not attractive. Although, it's better to earn little as much as possible than holding your coins dormant for a long time but the probability of loosing your coins make it unreliable. Some platforms that offer high return are likely scammers hunting for greedy investors. Even if the platforms are legit, remember not your keys not your coins because you are entrusting your coins into third party care. If you intend to stake, do it with caution.

 
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adultcrypto
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December 09, 2024, 03:22:06 PM
 #44

In order to bring more passive means of earning, staking, savings and lots of innovation came up to reward investors who are not willing to embark on trading but also want to earn from their crypto holdings. This strategy was quite more rampant during the bear market where products like Binance launchpool, high yield earns and Bitget sharkfin, dual investment and the rest where the best strategy to navigate the storm of the season.
I don't know how you knew that these things you mentioned are the best strategy to make money from cryptocurrency rather than HODLing. From experience, a lot of people lose money from most of the items you listed especially staking and launchpool because most of the tokens turn out to be worthless. I even knew people who were staking certain cryptocurrency and before maturity, the price has crashed so even though they had more token, their money was lost due to the dump. The risk in these schemes is just too much to endure so I rather buy bitcoin and HODL than do any of the things you listed.

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December 09, 2024, 03:56:17 PM
 #45

Staking is actually one way to be holding coin, waiting for the right time to take profit, and at the same time, be earning on a weekly or monthly basis from that which you hold. With the way BNB has doubled in price, those who have bought and have been holding it for long and have staked it will definitely be enjoying their profit now.

But profit is not always guaranteed in staking. I mean, you can stake and lock up your coin and miss out on good selling opportunities, which you could have made good profit compared to what the staking reward offers you + the current price of that currency.
With staking, you can earn the coin without doing anything and only waiting for some term. If you use flexible type of staking, you can unstake the coin anytime you want so you can sell your coin at a high price if the price surge to the high price. Like what happen to BNB now. We are making a big profit by hodling the coin from a long time ago so when we sell the coin, we will get the profit.

Before you stake, you must learn the term and conditions so you understand what you can do and don't. The exchanges also offers you how long you want to stake the coin so you can select what you want. People doing staking because they want to earn more amount while they are waiting for the price increase.

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December 09, 2024, 08:18:19 PM
 #46

There is a lot of transformation and development that has happened in the crypto space over the last decade. Back in the days, investors have to buy BTC and HODL for long timeand wait for the bullrun to earn. Along the line, crypto trading came up which has been an integral part of crypto since its introduction.

In order to bring more passive means of earning, staking, savings and lots of innovation came up to reward investors who are not willing to embark on trading but also want to earn from their crypto holdings. This strategy was quite more rampant during the bear market where products like Binance launchpool, high yield earns and Bitget sharkfin, dual investment and the rest where the best strategy to navigate the storm of the season.

With the bull market insight, seems a lot of people are enjoying the pumps from several coins they have invested in during the bear market but for those that didn't invest during that period, this product can still be utilized as the APRs have increased significantly unlike the bear market.

Or are there other passive ways of earning you will recommend for those that already missed the ongoing pump and are skeptical of price dumping on them?

You are right those that literally accumulate and hold during the bullrun are the ones gaining it now , but there still means you can make good amount of money without investing any , that's where we 3 came in if you have any technical skills you can seek some web 3 jobs and stuff , or you can go into airdrops some folks has made some good amount of money from  during airdrops and stuff and though the money do take time sometimes before it will come but some that didn't have money to buy coin where able to hold some token due to the airdrops they participate on .

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December 14, 2024, 07:17:29 AM
 #47

You can lend cryptocurrency in some exchanges or use staking on DeFi pools right now. Both are valuable ways to make passive income.
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December 14, 2024, 09:45:53 AM
 #48

Investing in bitcoin in crypto can give good returns so you can invest further to appreciate the returns. Another popular way to passively earn cryptocurrency is by sharing in airdrops. Airdrops are performed by crypto systems or occasionally crypto exchanges. This means that they will shoot free cryptocurrency to druggies who meet certain conditions. Airdrops are frequently performed by new crypto systems that want to distribute their means. frequently similar systems may be supported by exchanges or other larger systems.
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