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Cryptocurrency discussions / Re: What factors do you consider before staking?
« on: Today at 04:36:20 PM »The first thing to be considered is about the security. We mustn't stake on the random platforms. Then, I will consider the profits. I will focus on calculating how much the profits to get from the stacking. If it is not really profitable, I prefer to store my coins on the wallets only.
That's right...one should make security the top priority as there can be no use if one is promised astronomical rate of returns only to later realize that the whole thing is just another scam. We have to remember that there are so many fraud platforms these days offering very high returns but will eventually die because they are actually operating a Ponzi-like schemes. Reputation for me is paramount plus one has to look at the experiences of other people who staked beforehand to make sure that the staking program is legit and not a fraud. Otherwise, one should just HODL and store the coins or tokens safely though there is no denying staking is a very attractive proposition as it means one's money working even if the owner is sleeping...a great passive income.