Post
Topic
Board Altcoin Discussion
Re: New to staking - is this worth it?
by
fuguebtc
on 20/07/2022, 14:23:29 UTC
Hi, I would say staking is not good if it has any restriction on you withdrawing your assets instantly.

If you can withdraw your staked asset instantly, go for it.

If not, you may lose more % than you will ever earn while staking your asset for a year.


To be honest, I'm thinking about staking too, but hearing what you're saying is a little scary. What kind of risk is there and what is the possibility of losing money here.

Staking requires you to lock up your tokens for a certain period of time, which can be 30 days, 60 days, 90 days depending on your choice. The risk here is that if you are in the process of staking, your coins suddenly increase in value or you need to sell them for business, you will not be able to sell immediately but have to wait until the end of the staking period, only then can you get your token back.