Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: Smcchamp on May 23, 2024, 07:30:27 PM
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Hello everyone, I assume most of us are familiar with staking as a passive income avenue, whether on DEX or CEX platforms.
I'd like to ask, what factors do you consider before choosing a platform for staking? Is it flexibility, APY, or something else? Secondly, which platform do you believe offers the best APR for staking BTC, USDT, and ETH? Please share your opinions.
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Crypto staking is indeed something that is quite promising for us to do at the same time as our crypto holding process for a certain period of time. Usually this is done in an effort while waiting for a bullish era or at least the price on the market is in line with our target. Because staking usually has or provides its own benefits while we hold.
So, some of the things I usually consider when choosing a platform for staking are:
1. Trusted and reputable exchange/platform
That is certain and mandatory. I would much prefer a more trusted and reputable platform with smaller APY than a non-trusted and new platform even with higher APY. Because the security of my assets is much more important. Make sure that the platform has a good reputation and also a good level of security, because staiking will take a long time, so we have to be careful with the platform we choose, because it will make us feel safe.
2. Its security
Yes, this is what is related to the choice of platform above. The point is to choose one that has a good reputation for system security, security for our assets for a long period of time.
3. Rewards
Of course, it cannot be denied that rewards are also something to be taken into consideration because if the satking reward is too small, what's the point? it would actually be quite a waste to know about it. After realizing that the platform is safe and trusted, then also consider the rewards you can get for staking in a certain amount and period. compare between 1 platform and another.
4. Fees & Conditions
This is also important because after all we have to know what the fees are and what the conditions are. Don't try to find a platform whose fees are very large because this will increase the profits we get. Likewise, there are several conditions and requirements that must be met.
5. Choice of crypto
This is probably important because we must first understand what cryptos are supported on the ETRSBEUT platform. We don't need cash to replace or convert our crypto to another crypto just for staking on that platform. For example, at least tehre are BTC, ETH, BNB, or USDT
More to read:
https://www.redswitches.com/blog/top-15-crypto-staking-platforms/
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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. Staking can be good if it is profitable, I prefer to not doing it if it results in low profits. And the last, I will consider how long to stake, it depends on the trend on the market.
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Hello everyone, I assume most of us are familiar with staking as a passive income avenue, whether on DEX or CEX platforms.
I'd like to ask, what factors do you consider before choosing a platform for staking? Is it flexibility, APY, or something else? Secondly, which platform do you believe offers the best APR for staking BTC, USDT, and ETH? Please share your opinions.
1. The coin itself. Is the coin established already? How many years do this coin exists already? These are some of the questions that always come to my mind whenever I pick a coin to stake.
2. APR. Of course, the higher the APR, the more attractive it is to stake. I'll take ATOM for example. Cosmos has been on the top 20 or top 50 in terms of market for years already, and the APR is at an average between 14-16%. For me, this is very high already and knowing that this coin has been on the top for a long time, this token composes nearly a third of my total portfolio and even sold some of my BTC just to have more ATOM.
As for your question, it will depend on the token/coin that you're staking. I always prefer the software that the developers themselves created. Cardano for example have multiple wallet that supports staking, but I prefer Daedalus since the developers created it. As for the tokens that you shared, I don't think there's better way to stake BTC than putting it on an exchange. You can't stake BTC technically because it's a POW coin and not a POS, but you can use it to earn by putting it on an exchange. For ETH, there are some wallets that offer ETH staking although I'm not doing it. As for USDT, I don't know if there's any aside from putting it on an exchange as well.
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Taking into account the APY ratio without verifying the future trend of the currency is considered foolish. If you get 30% APY and the price drops by 70%, you are making losses on the USD scale. Therefore, even if the APY is 1% and the general trend of the currency is growth, it is better than 30% and the general trend. loss.
To know the general trend, you must focus on the developing team, the white paper, does the token solve a real problem, the total offered, the roadmap, and is the project being developed or is it a promise of quick profit?
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Using CEX or other custodial staking platform is good when we're talking about convenience. But i'd rather consider non-custodial staking pool, where i can get the reward while keep ownership of the coin. Although popular coin (such as ETH) usually have low return rate these days.
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The first thing is the security of the place where I will stake, because that is the initial capital so that we are comfortable and without being anxious about storing our assets,
secondly APY for me, after that look for ones that don't have a holding time limit, at any time i can withdraw staking
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Hello everyone, I assume most of us are familiar with staking as a passive income avenue, whether on DEX or CEX platforms.
I'd like to ask, what factors do you consider before choosing a platform for staking? Is it flexibility, APY, or something else? Secondly, which platform do you believe offers the best APR for staking BTC, USDT, and ETH? Please share your opinions.
Yeah I am familiar with staking they are a good source to make money and to lose money as well. Because people take this sector for granted as a money-making scheme while they don't know the factors to consider before choosing one. And end up losing their funds. I am seeing most of the people right now only staking in those platforms that don't have there native token yet, as gives them another opportunity to make money via airdrops.
As these types of platforms when release there native token, they reward their early users, some prefer these platforms and some don't even want to do staking but still do it to gain the reward in the form of airdrops. Speaking of myself, I only prefer staking which don't have fixed APY I know most of the people prefer fixed but I think we should go with the one that's not fixed as it would allow us more flexibility even when we are facing lose.
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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.
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The first thing is the security of the place where I will stake, because that is the initial capital so that we are comfortable and without being anxious about storing our assets,
secondly APY for me, after that look for ones that don't have a holding time limit, at any time i can withdraw staking
If I were security I would put it second, the most important thing is big rewards. For me, if we want to stake coins, we just need to choose a large exchange, it will definitely be safe. Why do I choose rewards, this is because staking will take time, it will be useless if we stake for a long time but the rewards are small.
It's better if we just trade if we only get a little reward, is that true or not?
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Hello everyone, I assume most of us are familiar with staking as a passive income avenue, whether on DEX or CEX platforms.
I'd like to ask, what factors do you consider before choosing a platform for staking? Is it flexibility, APY, or something else? Secondly, which platform do you believe offers the best APR for staking BTC, USDT, and ETH? Please share your opinions.
First thing I look for staking is locking condition, whether it's decentralized or it's centralized, I want to check that the locking condition end as soon as that times reach, there shouldn't be any hidden condition, it happen to eth2.0 staking condition and when it was time, they couldn't allow allowed people to unstake for the fear of dumping.
I prefer decentralized exchange but if I must use centralized exchanges, I will check their assets reserved to make sure they have coins for liquidity. Sometimes these exchanges only have numbers and not as they claim and I can only stake altcoins, Bitcoin will have to go to external wallet.
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Actually staking on Dapp or CEX exchange are secure behind the APY reward depend around 10% to 100% depend on exchange or coins taking regulation, but risk of staking when price decreasing drastically exactly for coins offer of reward above 50% to 100%. Big reward staking have big risk with coins price potential decreasing drastically and some exchange can't unlock immediately and need 24 hours for unlock our staking coins.
Did you remember with USTC as stable coins given 20% reward staking but price dropping drastically although its coins available stake at Binance or many top CEX exchange?
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Hello everyone, I assume most of us are familiar with staking as a passive income avenue, whether on DEX or CEX platforms.
I'd like to ask, what factors do you consider before choosing a platform for staking? Is it flexibility, APY, or something else? Secondly, which platform do you believe offers the best APR for staking BTC, USDT, and ETH? Please share your opinions.
- The platform must be safe, of course, and the ones I see that are safe and have high apy from what I've seen are on dex, though, it's also okay on cex platforms as long as it's on the top exchange, it's okay too, so the fully control is in CEX none of us.
Whereas in DEX we have full control over our crypto assets. although there is still risk, the only difference is that we have full control over our cryptos.
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I think what pther comments are saying is correct about choosing the top 5 and reputable exchange worldwide but of course it needs to be compliant to your local laws or else you will be facing consequences like us here in my country where Binance and other platforms is currently on a situation where they're being restricted and ongoing talks has been made though some of them get totally banned and yeah we are all waiting for some good news if not then time to move on.
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Using CEX or other custodial staking platform is good when we're talking about convenience. But i'd rather consider non-custodial staking pool, where i can get the reward while keep ownership of the coin. Although popular coin (such as ETH) usually have low return rate these days.
On the contrary, popular coins such as ETH do have decent rewards on some platforms. On Okex and Bybit for instance you get over 1% for using their flexible savings yield which is good considering the fact that these are secure places that have stood the test of time
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Using CEX or other custodial staking platform is good when we're talking about convenience. But i'd rather consider non-custodial staking pool, where i can get the reward while keep ownership of the coin. Although popular coin (such as ETH) usually have low return rate these days.
On the contrary, popular coins such as ETH do have decent rewards on some platforms. On Okex and Bybit for instance you get over 1% for using their flexible savings yield which is good considering the fact that these are secure places that have stood the test of time
Actually, staking will be useful if the funds we stake are large enough and will affect the income from the % applied, but in my opinion, if the value is small, there is no benefit whatsoever if the asset we stake ends up going down.
yes.... I have received information like what you said, especially for Bybit, where the % given is very decent and unfortunately there are restrictions. I don't know whether it's true or not because I haven't tried it.
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When choosing a staking option, you should look first and foremost at the yield (APY) and duration. The longer the term, the higher the yield. The minimum amount of money to invest is also quite important.
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Using CEX or other custodial staking platform is good when we're talking about convenience. But i'd rather consider non-custodial staking pool, where i can get the reward while keep ownership of the coin. Although popular coin (such as ETH) usually have low return rate these days.
On the contrary, popular coins such as ETH do have decent rewards on some platforms. On Okex and Bybit for instance you get over 1% for using their flexible savings yield which is good considering the fact that these are secure places that have stood the test of time
Flexible savings is a feature many CEX have introduced and I've tried on platforms like OKEX and Bybit. It's cool since I don't have to do anything than just some few clicks. But rn, I'm experimenting Bitget's PoolX. The APY looks good, up to 28% for some. Still studying theirs and some other platform's security which is the most important. So while I look out for cool APRs, I don't underestimate platforms security setup.
(https://i.ibb.co/T4FdWs0/IMG-20240523-WA0009.jpg) (https://imgbb.com/)
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Using CEX or other custodial staking platform is good when we're talking about convenience. But i'd rather consider non-custodial staking pool, where i can get the reward while keep ownership of the coin. Although popular coin (such as ETH) usually have low return rate these days.
On the contrary, popular coins such as ETH do have decent rewards on some platforms. On Okex and Bybit for instance you get over 1% for using their flexible savings yield which is good considering the fact that these are secure places that have stood the test of time
1% in a year sounds low to me. After all, staking ETH directly on ETH network (with non-custodial pool) currently give about 3% in a year.
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Hello everyone, I assume most of us are familiar with staking as a passive income avenue, whether on DEX or CEX platforms.
I'd like to ask, what factors do you consider before choosing a platform for staking? Is it flexibility, APY, or something else? Secondly, which platform do you believe offers the best APR for staking BTC, USDT, and ETH? Please share your opinions.
To be honest I can't find any good APR for staking on any dex or cex , Like I have already staked 2k USDT on Binance But while their APR was high a few days ago, its rate has come down a lot. Moreover, currently, I earn some tokens from the lunchpool pad by staking FDUSD on Binance, although the last few lunch pool pad did not earn much profit.
So I will suggest you that if you really need stable fund holding then you can make passive income by staking USDT on Binance or FDUSD stake during lunchpool.
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Before staking, consider factors such as the project's reputation, team, technology, security measures, potential rewards, and overall market conditions.
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Actually, staking will be useful if the funds we stake are large enough and will affect the income from the % applied, but in my opinion, if the value is small, there is no benefit whatsoever if the asset we stake ends up going down.
yes.... I have received information like what you said, especially for Bybit, where the % given is very decent and unfortunately there are restrictions. I don't know whether it's true or not because I haven't tried it.
Large amount or not staking keep not worth if reward under 10% or commonly some exchange under 5% every year, its better use as capital for trading and earn much profitable than staking reward under few percent in one year.
For Bybit staking with new coins has difference reward and there are allocated much reward but depend how many participants are joining. If less participant has potential earn much profitable from staking but get limitation around one or two weeks only for staking coins there.
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Crypto staking is indeed something that is quite promising for us to do at the same time as our crypto holding process for a certain period of time. Usually this is done in an effort while waiting for a bullish era or at least the price on the market is in line with our target. Because staking usually has or provides its own benefits while we hold.
So, some of the things I usually consider when choosing a platform for staking are:
1. Trusted and reputable exchange/platform
That is certain and mandatory. I would much prefer a more trusted and reputable platform with smaller APY than a non-trusted and new platform even with higher APY. Because the security of my assets is much more important. Make sure that the platform has a good reputation and also a good level of security, because staiking will take a long time, so we have to be careful with the platform we choose, because it will make us feel safe.
2. Its security
Yes, this is what is related to the choice of platform above. The point is to choose one that has a good reputation for system security, security for our assets for a long period of time.
3. Rewards
Of course, it cannot be denied that rewards are also something to be taken into consideration because if the satking reward is too small, what's the point? it would actually be quite a waste to know about it. After realizing that the platform is safe and trusted, then also consider the rewards you can get for staking in a certain amount and period. compare between 1 platform and another.
4. Fees & Conditions
This is also important because after all we have to know what the fees are and what the conditions are. Don't try to find a platform whose fees are very large because this will increase the profits we get. Likewise, there are several conditions and requirements that must be met.
5. Choice of crypto
This is probably important because we must first understand what cryptos are supported on the ETRSBEUT platform. We don't need cash to replace or convert our crypto to another crypto just for staking on that platform. For example, at least tehre are BTC, ETH, BNB, or USDT
More to read:
https://www.redswitches.com/blog/top-15-crypto-staking-platforms/
I've learnt a lot from your writeup. Kudos to you for this. Seems you're experienced. If I have more questions I'll be sure to quote you.
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Hello everyone, I assume most of us are familiar with staking as a passive income avenue, whether on DEX or CEX platforms.
I'd like to ask, what factors do you consider before choosing a platform for staking? Is it flexibility, APY, or something else? Secondly, which platform do you believe offers the best APR for staking BTC, USDT, and ETH? Please share your opinions.
To be honest I can't find any good APR for staking on any dex or cex , Like I have already staked 2k USDT on Binance But while their APR was high a few days ago, its rate has come down a lot. Moreover, currently, I earn some tokens from the lunchpool pad by staking FDUSD on Binance, although the last few lunch pool pad did not earn much profit.
So I will suggest you that if you really need stable fund holding then you can make passive income by staking USDT on Binance or FDUSD stake during lunchpool.
They've been lots of suggestions on the thread ready. I'll say explore them..someone mentioned Bitget PoolX with good APRs too. That looked interesting to me.
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Using CEX or other custodial staking platform is good when we're talking about convenience. But i'd rather consider non-custodial staking pool, where i can get the reward while keep ownership of the coin. Although popular coin (such as ETH) usually have low return rate these days.
On the contrary, popular coins such as ETH do have decent rewards on some platforms. On Okex and Bybit for instance you get over 1% for using their flexible savings yield which is good considering the fact that these are secure places that have stood the test of time
Actually, staking will be useful if the funds we stake are large enough and will affect the income from the % applied, but in my opinion, if the value is small, there is no benefit whatsoever if the asset we stake ends up going down.
yes.... I have received information like what you said, especially for Bybit, where the % given is very decent and unfortunately there are restrictions. I don't know whether it's true or not because I haven't tried it.
- I somewhat agree that staking is only effective if you put a large amount of money into it, because if it's a small amount, you won't feel it. Because if you are only staking a small amount, it is better to do it in day trading instead of staking.
This is just in my opinion; if the percentage is high, like 15% APY, that's really high. For example, if you have 1000 dollars within a year, you will have 150 dollars, and if you have 100 dollars, 1500 dollars is not bad in my opinion, right?
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They've been lots of suggestions on the thread ready. I'll say explore them..someone mentioned PoolX with good APRs too. That looked interesting to me.
Before saying anything else I want to say that I haven't heard this project name before may be it can be legit because I am seeing at coin market cap it has a good volume but have some doubt clear what is their high aprs can explain it more where and how we can gain something.
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When I started my crypto journey, I bought a little bit of many different coins. It took me a long time to figure out that staking was a thing. I opened an account with Kraken back then in order to stake some of the coins I was already holding. It worked great until the SEC/government cracked down on exchanges (Kraken in particular) offering US customers custodial staking services. It wasn't long after that that I bought a Ledger Nano X, took self custody of my crypto and started learning how to stake my crypto natively. It's been an adventure learning the different nuances in how staking works with each crypto. Some are much easier to manage than others. I wrote a pretty detailed report on my experience a few months ago here:
https://www.pmbug.com/threads/ledger-nano-x-and-staking-crypto.5401/
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I will not advise for staking with other crypto organizations when its something we can afford to make an investment on our own and hodl, this is what we have to understand concerning the way or channels through which we invest, secondly, we need to also understand that we must first be experienced in doing this before we go into it, we must learn how to speculate for the right time to stake or invest as such will determine how fast and high we are going to earn from such an investment if we really do it the right time.
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I will not advise for staking with other crypto organizations when its something we can afford to make an investment on our own and hodl, this is what we have to understand concerning the way or channels through which we invest, secondly, we need to also understand that we must first be experienced in doing this before we go into it, we must learn how to speculate for the right time to stake or invest as such will determine how fast and high we are going to earn from such an investment if we really do it the right time.
I think we share the same view, but I will elaborate more.
For me, staking rewards are not important because the token price growth in a bull run is many times larger than the staking APR, not just 2-20% but 1000-10000%. Staking rewards are just passive income while I hold the token and wait for the right time to take profits in the bullrun distribution zone. Some airdrops are also attractive, but I can't control them, so I don't make decisions based on airdrops either, meaning I don't stake tokens to get an airdrop that I don't know about.
Therefore, I only care about the token, where to stake, and when and how long to stake.
+ A valuable token is a token that can bring profits from price appreciation in a bull run.
+ A staking platform can be a CEX or a crypto wallet application.
+ The staking time and duration should be in line with the profit-taking plan. For example, if I predict that BTC will reach its all-time high in Q1 2025, I can stake my ALTS for a maximum of 10 months.
A small note from me is that holders should not be tempted by staking rewards and miss out on profit-taking opportunity at the right time.
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The first consideration, of course, is considering how strong the coin or token of choice is. That will measure the risks we will take in the future. For example, BTC, ETH or BNB assets may only earn a small APY, when compared to less well-known tokens. Yes, that's because more stable prices are one of the calculations in determining APY.
Staking on a clear platform must also be done. It is very risky if you stake on a platform that is not well known and has many weaknesses. Remember that the potential for fraud in the crypto world is vast.
Since I don't want to take big risks, I will usually only compare staking top coins and the % APY earned vs the % APY offered by well-known banks.
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I am staking few IBC coins ($ATOM, $OSMO, $TIA, $DYM) purely for purpose of airdrops, $ATOM and $OSMO being significantly down from their ATH prices also played some part in having them.
There is one other I stake which is $HIVE — the native coin of Hive ecosystem (https://hive.blog), I hold it there to delegate to other users and recieve delegation rewards, without delegating you can just hold HP into your account and it gives you power within Hive ecosystem proportional to Hive Power you hold. For example, more HP you have, the more your upvote and downvote will be worth.
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I am staking few IBC coins ($ATOM, $OSMO, $TIA, $DYM) purely for purpose of airdrops, $ATOM and $OSMO being significantly down from their ATH prices also played some part in having them.
There is one other I stake which is $HIVE — the native coin of Hive ecosystem (https://hive.blog), I hold it there to delegate to other users and recieve delegation rewards, without delegating you can just hold HP into your account and it gives you power within Hive ecosystem proportional to Hive Power you hold. For example, more HP you have, the more your upvote and downvote will be worth.
Staking coins above for receiving airdrop has any APY reward or pure only staking? I am interested stake some coins above exactly when have lower price because many kinds of airdrop eligible for ATOM, TIA, DYM and OSMO coins staking but right now looks not any hype during last several months ago.
For vote coins has possibility earn airdrop and last month I vote with project of JUP coins but the airdrop receiving not worth yet behind as new project or first time launching vote event. I think for the future any new airdrop for staking some coins above and worth behind decreasing of price coin staking.
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I am staking few IBC coins ($ATOM, $OSMO, $TIA, $DYM) purely for purpose of airdrops, $ATOM and $OSMO being significantly down from their ATH prices also played some part in having them.
There is one other I stake which is $HIVE — the native coin of Hive ecosystem (https://hive.blog), I hold it there to delegate to other users and recieve delegation rewards, without delegating you can just hold HP into your account and it gives you power within Hive ecosystem proportional to Hive Power you hold. For example, more HP you have, the more your upvote and downvote will be worth.
Staking coins above for receiving airdrop has any APY reward or pure only staking?
Yes, for staking you do get apy reward.
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I am staking few IBC coins ($ATOM, $OSMO, $TIA, $DYM) purely for purpose of airdrops, $ATOM and $OSMO being significantly down from their ATH prices also played some part in having them.
There is one other I stake which is $HIVE — the native coin of Hive ecosystem (https://hive.blog), I hold it there to delegate to other users and recieve delegation rewards, without delegating you can just hold HP into your account and it gives you power within Hive ecosystem proportional to Hive Power you hold. For example, more HP you have, the more your upvote and downvote will be worth.
Staking coins above for receiving airdrop has any APY reward or pure only staking?
Yes, for staking you do get apy reward.
Staking is an interesting passive income feature that has a lot of benefits. I've been actively staking in the Cosmos ecosystem for airdrops. I've also explored platforms like Bitget Earn to stake USDT and ETH (flexible and good APYs). My advice would be to DYOR on APR comparison and choose the better one while doing a deep dive on the platform. Someone in the thread shared a picture comparing platform APYs, and I think that should help in deciding which is beneficial to you.
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With an expected huge pump in a few months, I would pick the flexibility as the top of my list (next to security). You don't want a pool with a lock in period at this point in time. The rates are probably uniform across major pools and, if not, those that offer higher APY/APR will lower their offer sooner or later. I doubt a pool can maintain a high rate for a long time.
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I am staking few IBC coins ($ATOM, $OSMO, $TIA, $DYM) purely for purpose of airdrops, $ATOM and $OSMO being significantly down from their ATH prices also played some part in having them.
There is one other I stake which is $HIVE — the native coin of Hive ecosystem (https://hive.blog), I hold it there to delegate to other users and recieve delegation rewards, without delegating you can just hold HP into your account and it gives you power within Hive ecosystem proportional to Hive Power you hold. For example, more HP you have, the more your upvote and downvote will be worth.
Staking coins above for receiving airdrop has any APY reward or pure only staking?
Yes, for staking you do get apy reward.
Staking is an interesting passive income feature that has a lot of benefits. I've been actively staking in the Cosmos ecosystem for airdrops. I've also explored platforms like Bitget Earn to stake USDT and ETH (flexible and good APYs). My advice would be to DYOR on APR comparison and choose the better one while doing a deep dive on the platform. Someone in the thread shared a picture comparing platform APYs, and I think that should help in deciding which is beneficial to you.
I don't like centralized staking platforms, idk why, I'd rather go with coins that have native staking and stake there (mentioned few of those in quoted statement). It just feels safer, even if price dumps to zero, you you don't lose your coins :P