Post
Topic
Board Altcoin Discussion
Re: Is it wise to stake your crypto currency
by
SirLancelot
on 09/06/2023, 15:04:36 UTC
Right, One of the passive income options provided by trading services or platforms. Of course why not. However, my advice is to try to read and review the terms and conditions that apply to the coin you want to bet on, because if you go straight to staking without knowing the rules it could be another story and on the other hand By staking, you are contributing to the stability and growth of the network, which can increase the value of the cryptocurrency you hold. Happy staking.
It's nothing more than a myth that staking is a contribution towards the stability and growth of a network and it can increase its value of it, the value of a token depends on its supply and demand, if people are buying it more and it has a limited supply, its value will keep increasing, if it has a very high supply, it will require a lot of investment for it to gain value and staking won't help in that at all.

I personally prefer trading over staking because you don't really get a lot of money by staking your tokens but if you convert the same tokens into a stable coin and make a few trades every day, you might get a higher percentage in profits, but that would only work if you have enough knowledge about trading and some experience of the market.