How safe is a DEX stake?

I’m saving what I’ve already bought and have in my wallet for the upcoming crypto season. I removed metamask temporarily, because there are a lot of viruses ,drainer of wallet

I want to stake before Bull Run and I need a safe option.

There are cases, where Dexs is hacked

View Source

9 thoughts on “How safe is a DEX stake?”

  1. I’ve never had any issue with metamask. When I was hacked, I hadn’t even started using metamask. If you follow the basic security measures, I doubt you’ll have to worry about your wallets.
    I use Metamask to stake CTSI, MATIC and other evm supported tokens. CTSI, for example, has over 43% of circulating supply staked onchain with metamask and other decentralized wallets.

    Keplr is one of my most used wallets and that’s mainly cos of staking ATOM SCRT OSMO and other cosmos tokens.

    I prefer dex, cos your keys, your coins but the safety of the dex depends on the team and project itself. Due diligence is required but most top projects have pretty improved security.

    Reply
  2. 1. Buy a hardware wallet, so that you can’t lose your crypto if the device on which you use metamask gets hacked. You can always safely connect a hardware wallet to metamask
    2. DEXes that fork the Uniswap or Curve finance code are safe. Go with protocols that have a proven track record
    3. The biggest risk with DEXes are not the DEX contracts but the tokens you’re providing liquidity for. For example if you were a liquidity provider in a LUNA or FTT pair you would have lost most of your money

    Reply
  3. You can use privacy protocol like Railgun, it helps you stay untraceable when trading, using leverage platforms or adding liquidity with any dApp on Ethereum.

    Reply
  4. I’ve never heard of Dexs being hack, but to be on a safer side, Dexs with privacy features could be a better option.

    Reply
  5. Your safest bet is to buy a cold wallet, something like a Ledger. You have liquid staking options on Polygon as well. Check out Lido or Stader.

    Reply
  6. Well, nothing is safe. Don’t stake more than you can afford to lose. But I do still feel much more comfortable staking on Dexes than Cexes. Just my pasonal opinion. I do have some stakes on stargate, and on dafi protocol too. TraderJoe as well. Call me a defi freak.

    Reply
  7. If you want to fuck around on Dodgy sites.
    Do it with an empty wallet or only what you want to use. Besides that never talk about crypto, never share your seed phrase.

    Reply
  8. I still prefer Dex over Cex because I feel safer there. I’m planning to stake MAXX soon since they offer guaranteed annual staking returns without depending on others participating in the ecosystem

    Reply
  9. Well I would say it depends on the DEX in question and how secure the smart contract is, cause we have seen cases when even DEXs got compromised in the past. So I think users should look out for audits by top security experts and use the ones that give self custody over assets, so far its the Maiar Dex I have been using to earn staking rewards for Ride and Egld, and I haven’t experienced an issue.

    Reply

Leave a Comment