Post
Topic
Board Altcoin Discussion
Re: Is it wise to stake your crypto currency
by
JeffBrad12
on 15/07/2023, 23:19:52 UTC
It all depends on what coin you want to stake, if for altcoins it is not recommended to stake locked at all. Because when the market dumps/pumps it will be difficult to withdraw it and if we want to unlock our coin from staking it will incur a rather expensive fee, so choose flexible staking like on exchanges but if staking like ETH 2.0 it will be worth it for the long term.
agreed with this one, the only thing that should be of concern when staking all of these altcoins in general is the fact that they might no be flexible which gonna cause many to lose opportunity of getting profits from dumping at the peak of the value of certain altcoins.
sometimes some staking just outright lock for more than 2 years which is honestly silly for altcoins in general because the lifecycle of many altcoins in general aren't that long anyway.
so locking for that long period might turns our investments which was initially promising, to become some worthless coins.