Quote from: semobo on August 21, 2021, 02:40:03 PM

Quote from: DanielBroonze on August 21, 2021, 10:07:22 AM

Actually, I heard about Staking the coins gives apy. I want to know is really a staking good idea & what will be the staking months like 1 month, six months or 1 year.

Staking is not actually for someone who is looking to make money with their capital, its only for someone who is already having huge amount of staking and don't know what to do with their money so they can stake and get very little returns per year. So you have to hold your coins for a year to get that return but while holding period the value of your coin may fall 50% or rise 50% so understand the risk associated with that before staking.

Well actually the staking reward isn't that lucrative but could be more beneficial to people with bigger capital, and also one thing to note is that staking is just like locking your money for a period of time, staking is just like having a spare funds to keep out for a period of time and gain little rewards in return, it's not a get rich quick scheme or a formula for doubling small capital either, so for me I would say staking is for those with huge capital and funds which isn't ready to be spent yet.

DibiaVxosis

Posts

Merits