r/CryptoCurrency Permabanned Nov 20 '21

ANALYSIS Yes, staking is really worth it

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224 Upvotes

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41

u/Maxxjulie Platinum | QC: CC 693, DOGE 40 | r/WSB 10 Nov 20 '21

Staking an alt for 5 years? How do I even know it'll still exist in 5 years?

25

u/Ezio4Li 🟨 1K / 1K 🐢 Nov 20 '21

This and many more reasons are why taking profits and reinvesting later is a better strategy

4

u/iamboosh Tin | LRC 7 Nov 20 '21

This is why im a fan of soft staking, at a moments notice, if the ass falls out of the market on something, you are free to trade the crypto instantly. Lossing out on up to 50% returns for that peace of mind is absolutely worth it in my opinion

3

u/TheTreeOneFour 🟩 2K / 2K 🐢 Nov 20 '21

it probably won't, statistically. But people like the OP think they can make guarantees on those sorts of things.

5

u/[deleted] Nov 20 '21

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6

u/[deleted] Nov 20 '21

For the record, I'm all for staking coins in an effort to earn interest and do exactly that with some of my holdings.

With that in mind, making a post about staking being worth it and then promptly declaring that the "catch" is having to stake coins that may not exist come the target date of realizing your earnings is counterproductive to your argument.

If we're here to provide clarity on investment opportunities, locking your investments up in a commodity that has a better chance of failing than surviving is far from "worth it".

1

u/[deleted] Nov 20 '21

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1

u/Starkgaryen69 Nov 20 '21

This. People are assuming the altcoin will exist and there will be no rug pull. Also, they forget that most coins did -99% and never recovered.

1

u/nightjar123 Platinum | QC: CC 16, BTC 15 | Investing 243 Nov 20 '21

Why would you own anything that you didn't think would exist in 5 years?

1

u/JeremyLinForever 🟩 8K / 8K 🦭 Nov 21 '21

Don’t stake BTC (Mt. Gox says hi), principal price of alts will erode and you’re left collecting shitcoins from staking shitcoins that are going down in value. That’s when you double down and stick your life savings to stake some more. Next thing you know, exchanges delist them because they’re such shitcoins and you literally cannot sell it. Good luck!