Post
Topic
Board Altcoin Discussion
Re: Is it wise to stake your crypto currency
by
Fredomago
on 05/07/2023, 18:55:49 UTC
Everyone is different. Maybe adda who tends to stake to get more profit. But if I personally choose not to do it. I chose to buy then keep and hold it until the right time to sell the coin.
Buying and holding these assets we buy is the best thing to do. Yes, there's profit in staking but do you guys think that it's worth the risk if the risk is it could be gone for real? I'm telling this because many do like to stake in exchanges and there's no guarantee they'll get back those assets they've put into stake if problems exist with their service. While for some wallets that have that service, you still think of the risk if you can take that.

Good point, the risk is added when you are staking the coin to a wallet that you are not the one who fully controlling the transaction, you don't know if what will be the possibility and if that particular asset dumped hugely you don't have any control and same with if the asset pump hard and you are into a locking time frame you can't do anything as well.

Better to buy and hold. Just make sure that both your knowledge and trust are both in the same project that you are supporting.