Thoughts on Staking Rewards in Crypto?
Thoughts on Staking Rewards in Crypto?
Hey, do you guys think staking rewards are a solid way to make some steady income in the crypto world?
Hasitha Jayaweera Answered question November 7, 2024
Staking is only great if you are staking a large amount of 1-5k coins unless ETH isn’t gaining you a lot. Same as most HYSA that are between 4-5% unless you’ve got some serious cash in you aren’t making gas money.
Hasitha Jayaweera Answered question November 7, 2024
Staking is a joke unless it’s stablecoin. Especially when it comes to new VC coins, never go the staking route. It’s just a means for the VC and the team to make the noobs hold their coins, while they themselves dump it in the market.
The staking APY may look juicy but by the time you unlock and withdraw your staked tokens, the value would have dropped drastically of what it initially was.
Gihan Wijethunga Answered question November 7, 2024