crypto staking profitable?

Pranto

Pranto

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I actually hold coins for long times so what if I stake coins for extra income?
I don't have much knowledge about staking coins. can you explain a bit and suggestion which one is much profitable?

I hold average 10k-20k+ usd worth coins so why not stake them when I always hold for a year or more

thanks in advance
 
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The only disadvantage with staking is not being able to sell as most coins have a lock period for staking.

But if you have no intention to sell anytime soon,even if you are aware that the price may crash/you may need coins for urgency etc, staking is a wise decision.

Every coin has different ways of staking and different profit rate. Read about that well before starting to stake.

For example,Coinbase deduct 20-25% commission from your staking profit,some coins can be staked through hardwallets,some coins have no lock period, staking can be taxable in some countries etc.
 
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NerdofIM said:
The only disadvantage with staking is not being able to sell as most coins have a lock period for staking.

But if you have no intention to sell anytime soon,even if you are aware that the price may crash/you may need coins for urgency etc, staking is a wise decision.

Every coin has different ways of staking and different profit rate. Read about that well before starting to stake.

For example,Coinbase deduct 20-25% commission from your staking profit,some coins can be staked through hardwallets,some coins have no lock period, staking can be taxable in some countries etc.
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thank you
 
I start staking now, I am using cex.io, staking ZIL at 16% and TON at 10% I think they don't hold them at all and they have unlocked Savings Options in some countries.
 
koliman said:
I start staking now, I am using cex.io, staking ZIL at 16% and TON at 10% I think they don't hold them at all and they have unlocked Savings Options in some countries.
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funds locked for 30 days? I'm planning staking on Binance
 
If you are so sure about one specific coin that will survive and will perform in the next bull run, why not?
But if you are not so sure, I think staking usdc is the best option.
 
It's nice now, but once it gets regulated. you fudged
 
Pranto said:
you mean flexible ? but they pay low for flexible staking right ?
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Surely is far lower than other platforms, but if you don't like your money getting blocked, it's a option. Today, a friend told me USD was paying 18% Apr. They pay ever hour, so it compounds quite nicely.
 
You can stake various coins on the Exodus wallet. Also on the crypto.com app or wallet or whatever.

For cardano in particular you can stake on Exodus, but they also have their own wallet called Daedalus where you can stake ans get a little higher returns than if you were staking on Exodus.
 
Scorpion Ghost said:
You can stake various coins on the Exodus wallet. Also on the crypto.com app or wallet or whatever.

For cardano in particular you can stake on Exodus, but they also have their own wallet called Daedalus where you can stake ans get a little higher returns than if you were staking on Exodus.
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thank you
 
Staking is the future for passive income, especially when ETH 2.0 will be fully in use.
 
Staking can definitely be worth it but depends how much you have to invest. Low amounts = low rewards.
Shibaswap allows you to Bury (stake) Shib, Bone and Leash or dig using paired coins like Shib/Wrapped ETH to earn daily rewards. Not sure about other platforms, but shibaswap does require you to pay gas fees to withdraw your earnings.
 
I am currently doing a project with some good men. 2-3 of them bought Elrond at very cheap price, when the project started. They have made a fortune till date. So, yes it is profitable. But in order to make a profit, you have to invest in a good project, and not one that is a shitcoin. For starters, stop investing in those moons and cum rockets. Look into the project. Take it as a real company. Also, don’t be fomo. Have your own rules.

This is not a new concept to be honest. Same thing works for share market as per my observation.
 
Pipelin said:
Staking is the future for passive income, especially when ETH 2.0 will be fully in use.
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why specially when ETH 2.0 will be fully in use? I show ETH staking pay less now like 4% APY
 
Staking is like mining

If you were to mine Bitcoins, you'd buy mining machines and electricity. Thus you'd lock up some money into buying this equipment and energy supply.

Staking is the same except you lock up your money, stake it, then get it back. No machines required.

Staking is much more advanced than mining.

It's not a financial investment. It's mining, you're actually doing useful work for a reward.
 
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