Hi guys.
I was wondering about staking and specially at crypto . com.
Is it wrong of me to choose that site? And what should I think about when I decide to stake?
Different coin yields different rates, pending from 3-12%, if I commit to 3 months is everything I’m committing to essentially that I won’t (bc I can’t) sell during that time?
New to this concept even though I’ve heard and read about it since this summer.
Hi guys.
I was wondering about staking and specially at crypto . com.
Is it wrong of me to choose that site? And what should I think about when I decide to stake?
Different coin yields different rates, pending from 3-12%, if I commit to 3 months is everything I’m committing to essentially that I won’t (bc I can’t) sell during that time?
New to this concept even though I’ve heard and read about it since this summer.
Mmmm steaks
Better reach the community in r/Crypto_com there you will get better support from the community 🙂
Staking via a coin’s native wallet is almost always better than staking in an exchange.
Yes, stake committed for duration can not be sold uring that time; in return you get better stake rewards.
Not wrong at all, and staking on CDC is very easy, with no fees for staking either, so its quite a beginner friendly way to start.
Some crypto you get better stake rewards elsewhere, but theres the convenience factor.
Other crypto, like BTC, you can’t actually stake they CDC offer “stake” rewards for it anyway.
I use them to Stake/Earn with a few crypto’s myself – its certainly worthwhile!
I would stay away from Staking on Exchanges, look into Osmosis Zone and Keplr Wallet between those two and the Cosmos Network they have the best ratio of Strong Projects to APY % they also provide insane Airdrops.
I would definitely stake in crypto.com. You do not need to keep your cryptos in the exchange. You can use the Defi wallet. Of course that only if they have a good APY for the crypto you want to stake.
I like yield farming and staking on the Fantom & Cosmos ecosystems. They offer good yields and cheap gas fees. Check out some youtube videos on how to get started.
Also check this out as extra caution
https://cryptostaker.com/risks-of-staking-crypto-on-exchanges/
If I choose to stake defi, would I have all my different coins in 1 wallet or several different. Is there a wallet that can hold different types of coins or are they all coin specific?
Is it wrong? No
Do better options exist? Most likely
If you plan to HODL then you should probably stake.
Particularly, I’m not a big fan of those rates.
As a matter of fact, I’m a simple guy with a simple plan. Not to brag about it.
I always buy high and sell low for a nice loss. That has worked so far.
Algo governance reward is too juicy to let it go.
I stake MATIC (10%), BTC (4.5%) and ETH (5.5%) on crypto.com and ALGO (4%) Coinbase. Quick and easy – would recommend for a novice like myself
You can use Crypto.com Desktop Wallet and stake Cronos for more that 12% apy.
It is ok to stake at exchanges. It is better for crypto when you don’t though. Just check out if it is locked stacking or not.
First, you should check out this [APY comparison tool](https://docs.google.com/spreadsheets/d/1vpBQI2DFUk7zXS4TCs9ZOnatvWHiYf5jHjKgKpfJG5Y/edit) I put together that details rates paid on nearly 200 different coins.
I am using the earn program on crypto.com.
Yes, I could get more % somewhere else.
Yes, I could create multiple wallets on multiple pools to increase my earnings.
Yes, it could become messy.
Yes, the gas fees would probably eat up my earns by doing so.
Yes, I don’t care about the “long” lockup phase because I am planning to hodl for several years.
Yes, I would have multiple seed phrases which, because I am a potato, I will lose along the way
Yes, crypto.com is more comfortable for me because everything is under one roof and I have a better overview.
Tldr : earnings < simplicity