Post
Topic
Board Trading Discussion
Re: Less Risky Modes Of Earning In The CryptoSpace That Should Be Considered.
by
Maus0728
on 24/06/2024, 21:40:09 UTC
I did my research on staking some time back and it looked like something that I will be willing to try in the future.  However all of the modes of earning passive income have risks even staking. For example, due to the volatile nature of cryptocurrencies  and fall in price will easily outweigh  the rewards that the individual can earn from staking. In addition, the counterparty risk. I think I will be able to take on the other risks of minimum lock up and the waiting period for each blockchain to get back my coins but can bear the former. I think that Crypto lending bears the same risks but it is even better than staking.
The problem with staking is that, you're going to be putting or locking your crypto for a really long time and the money or crypto you'd earn from that staking isn't really a lot of money anyway so I don't think that it's worth doing so unless you've got like a lot of it locked in some centralized exchange or wallet which isn't really good idea to do so given that it's a risky thing for you to do so since it's a centralized exchange after all. For me, I feel like there should be more ways that you can make money in the crypto space but I'm all for the safety of more people rather than the money making opportunities, it's a really bad thing for your image as a crypto investor if you get scammed because you wanted to make more money, probably best if you stick to just doing DCA for now if unsure of what to do when it comes to making some profits in crypto.