Quote from: sana54210 on Today at 06:53:22 PM

Quote from: Wysi on December 03, 2021, 10:37:52 PM

Things were getting better as we were expecting a pump in the value of bitcoin but it was dropped by over 10%. Is it just the usual December pulback or it is here to stay I mean a long bearish run? How are you preparing for a possible bull trap and now even if it was temoprary it might take some for the market due to fud.

I have to say I am quite happy with them so far. I have been staking some defi projects, they are sort of like "proof of stake" coins but a bit different as well, and they have been amazing. The difference is that, you do not do the staking yourself, you put the money in a pool somewhere and it does it for you. Maybe I am happy because I got in at the right time, I did it for Cake when it was just 2 dollars, so with the money I made from the staking returns plus the returns from the increase Cake had, I profited a lot.

Hopefully everyone would be able to say the same thing with the right time, but if you do not then there is two possibilities; either staked coin dropped in value, or you got scammed. Those are still possible outcomes and as long as you do not get either of those then you will probably make some profit from staking and I am confident that stuff like UNI and Cake will be fine in long term.

Taking the kind of risk is profitable if you place your investment with the right coin to invest, like you, there are other investors who make a decent amount of profits by doing the same, staking with good asset will generate a good amount of profits, while in the other side if you failed to do your homework and invest with hype asset, even you stake the amount of losses still going to hurt your initial capital.

Always find time to work with your understanding. The good one will lead you to find success from this industry.